Jim Rickards, Senior Managing Director at Tangent Capital, discusses whether the Argentine government's move to service its defaulted debt in the country can resolve its default woes.» Read More
BUENOS AIRES, Argentina— A global printing company based in the U.S. shuttered its plant Monday in Argentina amid tough economic times in the South American country. Employees of the R.R. Donnelley& Sons plant on the outskirts of Buenos Aires showed up to find the gates locked and a note on the door informing them the operation is now closed.
BUENOS AIRES, Aug 11- Argentina on Monday called on Washington to intervene in a court case over the country's defaulted debt after a U.S. district judge threatened the South American country with contempt for making what he called false statements.
BUENOS AIRES, Aug 11- Argentina on Monday called on Washington to intervene in a court case over the country's defaulted debt after a U.S. district judge threatened the South American country with contempt for making what he called false statements. In 2002 Argentina defaulted on about $100 billion in sovereign bonds.
NEW YORK/ BUENOS AIRES, Aug 8- The U.S. judge in Argentina's long-running debt battle with hedge funds threatened a contempt-of-court order on Friday if the nation did not stop issuing false statements about having made a required debt payment on restructured sovereign bonds.
Pfizer confronts surge of lawsuits over Lipitor. Pharmaceutical giant Pfizer is facing a mounting number of lawsuits by women who say the company knew its blockbuster anti-cholesterol drug Lipitor was linked to a small increased risk of type-2 diabetes but never properly warned the public.
District Judge Thomas Griesa could suspend his ruling that orders Argentina to pay in full New York hedge funds before it resumes payments on a separate stock of bonds on which Buenos Aires is now considered by financial markets to be in default.
In a further twist in the long-running sovereign debt dispute that has pushed Argentina once again into default, these so-called "other" holdouts said in a court filing late Thursday that the $539 million deposit that Argentina made to its indentured trustee, BNY Mellon, should go toward satisfying their U.S. court-awarded claims.
BUENOS AIRES, Aug 8- Argentina has no expectations that the U.S. judge at the centre of its debt battle with holdout investors that has plunged the country into default will take steps to help resolve the saga, a senior government minister said on Friday.
The creditors are considering an offer from Citigroup, JP Morgan, HSBC and Deutsche Bank of 80 cents on the dollar for their roughly $1.66 billion of Argentine debt, Thomson Reuters IFR reported on Wednesday.
The creditors are considering an offer from Citigroup, JP Morgan, HSBC and Deutsche Bank of 80 cents on the dollar for their roughly $1.66 billion holdings of Argentine debt, Thomson Reuters IFR revealed on Wednesday. Argentina's Economy Ministry declined to comment but has said previously there was nothing to prevent private parties reaching an agreement.
Around 90 new meat plants in Brazil were immediately approved to export beef, chicken and pork to Russia and the South American nation is already working to increase its exports of corn and soybeans sales to Russian buyers, Brazil's secretary of agricultural policy, Seneri Paludo, said on Thursday.
Argentina said in its application the United States had "committed violations of Argentine sovereignty and immunities."
BUENOS AIRES, Aug 6- The U.S. judge in charge of Argentina's debt default case on Wednesday ordered Bank of New York Mellon to hold on to money deposited by the government rather than disburse the funds to holders of the country's restructured bonds.
Argentine institutions are thought to have taken a back seat in the talks, with international banks likely to be behind any successful deal.
SAO PAULO, Aug 5- When João Paulo de Oliveira was fired in 1980 by Rapistan, a Michigan- based manufacturer of conveyor belts, his troubles were only beginning. In ensuing years, the military dictatorship that ran Brazil arrested or detained him about 10 times.
BUENOS AIRES, Aug 4- Argentina's markets watchdog on Monday launched an investigation into what it believes may have been unlawful speculation by holdout creditors whose litigation against the country for repayment of their defaulted bonds pushed it into a new default last week.
BUENOS AIRES, Aug 4- Argentina's markets watchdog on Monday launched an investigation into possible unlawful speculation by holdout creditors whose litigation against the country for repayment of their defaulted bonds pushed it into a new default last week.
NEW YORK/ BUENOS AIRES, Aug 1- Argentina cannot turn its back on negotiations with holdout creditors after defaulting on its sovereign debt, a U.S. judge instructed on Friday, just as the country's failure to service a June interest payment was declared a "credit event."
NEW YORK/ BUENOS AIRES, Aug 1- Argentina's default this week did not "extinguish or reduce" the South American country's debt obligations, a U.S. judge said on Friday, and he ordered negotiations between the country and holdout investors to continue.
The ISDA on Friday effectively declared Argentina in default, which could trigger payments worth up to $1 billion on credit default swaps.