Argentina will default for the second time in 13 years if it cannot reach a deal with the U.S. hedge funds before July 30. Following a U.S. judge's order, Argentina can't pay investors who accepted lower-valued bonds after its record $100 billion default in 2001 unless it also pays off creditors who didn't participate in previous bond swaps.» Read More
BUENOS AIRES, July 25- Argentina stressed on Friday that it was impossible to fulfill a U.S. court ruling ordering full payment to "holdout" investors suing the country but said a deal needed to avert a default on its debt is still possible.
BUENOS AIRES, July 25- Argentina said on Friday that a debt deal could be reached with "holdout" investors suing the country for full payment of their bonds if they, and a U.S. judge who has ruled in their favor, start acting in good faith and showing a rational attitude.
SEOUL, South Korea— South Korean news agency says the eldest son of the sunken ferry owner has been detained by police after two months on the run. Yonhap News Agency said Friday that Yoo Dae- gyun was picked up from an office south of Seoul, just three days after his billionaire father was found dead.
MOSCOW— Having for months dismissed Western sanctions on Russia as toothless, business leaders here are now afraid that the crash of the Malaysian jetliner will bring about an international isolation that will cause serious and lasting economic damage.
BOSTON, July 24- Billionaire investor Kenneth Griffin, who oversees $20 billion at hedge fund Citadel LLC, filed for divorce from his wife citing "irreconcilable differences," according to court filings seen by Reuters on Thursday.
Joseph Lieberman has been appointed a professor at Yeshiva University for the coming school year. Lieberman represented Connecticut in the U.S. Senate between 1989 and 2013.. He was Democrat Al Gore's running mate during the 2000 presidential campaign but was re-elected to the Senate as an independent in 2006..
BRUSSELS, July 24- U.S. cable group Liberty Global has offered to sell its pay TV channel Film1 in an attempt to win EU antitrust approval for its proposed acquisition of Dutch rival Ziggo, a person familiar with the matter said on Thursday.
BANGALORE, July 24- Wipro Ltd, India's third-biggest software services exporter, forecast strong revenue growth on the back of higher outsourcing spending by overseas clients and said it was focussing on winning more deals in Europe.
BANGALORE/ MUMBAI, July 24- Wipro Ltd, India's third-biggest IT services exporter, posted a 29.6 percent rise in fiscal first-quarter profit and forecast a surge in revenue on the back of stronger spending on outsourcing by overseas clients.
HONG KONG— As activists vow to shut down Hong Kong's financial district in protest at China's attempt to hobble democratic elections in the city, businessman Bernard Chan is preparing for the worst. The former British colony came back under China's control in 1997 but retains its own legal and financial systems and a high degree of control over its affairs.
Hedge fund billionaire John Paulson netted $1.3 billion on an M&A deal, and Carl Icahn and Bill Ackman are "trading places" on Herbalife, reports CNBC's Kate Kelly.
*Chipotle rallies a day after results, Netflix slides. Netflix Inc, one of the market's biggest trading favorites over the past few years, reported a quarterly profit that more than doubled on Monday after the market closed. However, on Tuesday, Netflix shares fell 4.6 percent to $431.09 as the company's plans to expand in Europe were seen as eroding profits.
NEW YORK, July 22- The government will call Mark Zuckerberg to testify against an upstate New York man accused of trying to cheat the billionaire founder of Facebook Inc out of half his stake in the social media company, a federal prosecutor said on Tuesday.
*U.S. airlines suspend flights to Israel. NEW YORK, July 22- The S&P 500 hit a record high on Tuesday as inflation data was seen keeping the Federal Reserve in an equities-friendly tone, while hopes rose for an easing of tensions in Ukraine.
Herbalife shares rose more than 17 percent to $63.29 in heavy volumes, more than recovering the losses made Monday after Ackman told CNBC he would expose Herbalife as an "incredible fraud" and deal the company a "death blow."
NEW YORK— A federal judge Tuesday ordered around-the-clock negotiations aimed at averting a second debt default by Argentina in 13 years, saying a default would hurt "real people."
NEW YORK, July 22- Billionaire investor William Ackman fired another volley on Tuesday in his 19- month-long war against Herbalife, this time taking aim at the company's use of nutrition clubs for recruiting, claiming they violate U.S. labor laws.
Russian oligarchs are terrified of potential sanctions for their country's politics. CNBC's Robert Frank has the details.
CNBC's Robert Frank reports pressure is growing for the Oligarchs to pay a price for Russia's politics.
July 21- Steel Dynamics Inc will buy Severstal's mini-mill in Columbus, Michigan for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker's assets in Dearborn, Michigan for $700 million in cash. Last month, CEO Alexey Mordashov said that selling the U.S. assets could help decrease Severstal's debt and make the company a lot more profitable.