United States

Wednesday, July 16th 2014 - 01:06 UTC
US economy recovering but “too many Americans remain unemployed”

The US economic recovery remains incomplete, with a still-ailing job market and stagnant wages justifying loose monetary policy for the foreseeable future, Federal Reserve Chair Janet Yellen told a Senate committee on Tuesday.
Tuesday, July 15th 2014 - 07:07 UTC
Holdouts call on Argentina to settle debt payments and recall 30 July deadline

Aurelius Capital Management, one of the lead holdout creditors seeking to settle with Argentina over sovereign debt payments from its 2002 default, said on Monday the Argentine government faced a new crisis on July 30 unless it engages in real talks.
Tuesday, July 15th 2014 - 06:49 UTC
Citigroup agrees to pay 7bn dollars to settle sub-prime mortgages investigation

Banking giant Citigroup will pay 7bn dollars to US authorities to settle an investigation into risky sub-prime mortgages. Citigroup will pay 4bn to the Department of Justice and 2.5bn for “consumer relief”.
Monday, July 14th 2014 - 06:07 UTC
US consolidating as world's biggest oil and natural gas producer

$Oil extraction is soaring at shale formations in Texas and North Dakota as companies apply fracking$

The US will remain the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs US economic recovery, Bank of America Corp. said in a report.
Saturday, July 12th 2014 - 11:21 UTC
Holdouts claim the Argentine government refuses to negotiate with hedge funds

The holdout hedge fund Elliott Management Corp representative emerged on Friday from five hours of meetings in New York with a court-appointed mediator, claiming the Argentine government still refuses to have negotiation years after its historic default.
Saturday, July 12th 2014 - 11:00 UTC
Pollack's hope is that dialogue between holdouts and Argentina will continue

Argentine officials and holdout investors met separately with the New York court-appointed mediator or 'Special Master' for five hours on Friday, presenting their cases in hopes of resolving a litigation on defaulted bonds that has dragged on for years.
Friday, July 11th 2014 - 06:19 UTC
JP Morgan requests 'clarification' from Judge Griesa to pay Japanese bondholders

JP Morgan bank, the entity responsible for the payment to Argentina's Japanese bondholders has sent a letter to US Federal Judge Thomas Griesa, requesting “a clarification” in order to deliver the funds to the nation's creditors.
Friday, July 11th 2014 - 06:14 UTC
Pollack says Argentina, hold-outs and legal representatives will meet on Friday

Special master Daniel Pollack revealed on Thursday he has been talking with holdout funds and Argentine lawyers “on a daily basis”, one day before an Economy Ministry committee travels to New York to meet the mediator in the funds/Argentina litigation case for the second time.
Friday, July 11th 2014 - 06:06 UTC
Majority of Uruguayans disapprove receiving US prisoners from Guantanamo military base

A majority of the Uruguayan population does not approve receiving US prisoners from the US Guantanamo Base, a decision adopted by the government of President Jose Mujica to help support the US government in closing the 9/11 jail for terrorists, according to a public opinion poll released on Thursday.
Thursday, July 10th 2014 - 21:48 UTC
Fed will end asset purchases in October, but no decision yet on interest rates

The Federal Reserve has begun detailing how it plans to ease the US economy out of an era of loose monetary policy, indicating it will end its asset purchases in October and appearing near agreement on a plan to manage interest rates in the future, according to minutes of the last Fed policy meeting.