NEW YORK— The collapse of talks with U.S. creditors sent Argentina into its second debt default in 13 years and raised questions about what comes next for financial markets and the South American nation's staggering economy.» Read More
NEW YORK— Argentina's economy minister emerged from daylong negotiations aimed at preventing a default Tuesday to say both sides had finally spoken for the first time, a development that raised hopes that a deal might be reached to avert a financial crisis.
LONDON, July 29- U.S. billionaire Wilbur Ross said on Tuesday that he will take a "significant" portion of the 1 billion euros worth of new shares being sold by Bank of Cyprus but that the complexities of the deal made it impossible to say how much at this point.
BUENOS AIRES, Argentina— Argentina risks financial default unless it reaches an agreement with a group of holdout bondholders by Wednesday. The swap, however, failed to resolve Argentina's troubles. Argentina's government lined up two more swaps in 2005 and 2010, offering existing creditors new bonds worth much less than the old ones.
The Argentina group, which included Lopez, Javier Pargament from Argentina's treasury office, and two lawyers, did not speak to reporters who waited outside a midtown Manhattan building. But talks have been sporadic and have failed to bring representatives of Argentina to the table with lawyers for U.S. hedge funds.
*Merck rises as results beat expectations, but Pfizer slips. Windstream Holdings jumped 12.8 percent to $11.88 in its busiest trading day on record after the company filed to spin off assets into a tax-efficient publicly-traded real estate investment trust.
*Pfizer, Merck rise as results beat expectations. NEW YORK, July 29- U.S. stocks rose Tuesday on news about a spinoff in the telecommunications sphere that sent most stocks in the sector soaring and on better-than-expected results from Pfizer and Merck.
*Pfizer, Merck rise as results beat expectations. NEW YORK, July 29- U.S. stocks were set to rise slightly at the open on Tuesday following better-than-expected results from companies such as Pfizer and Merck and ahead of data on consumer sentiment. Pfizer's higher-than-expected second-quarter earnings were helped by growing sales of its cancer medicines.
*Bank of Cyprus raises 1 bln euros from EU, US investors. LONDON/ NICOSIA, July 29- Bank of Cyprus, which has just raised 1 billion euros from investors, plans to sell up to 1 billion euros in bonds in September, chief executive John Hourican said, a move that would mark a rehabilitation of the euro zone's first bank to recapitalise using depositors' cash.
*Pfizer, Merck rise as results beat expectations. NEW YORK, July 29- U.S. stock index futures edged higher on Tuesday following better-than-expected results from companies such as Pfizer and Merck and ahead of data on home prices and consumer sentiment.
LONDON, July 29- Bank of Cyprus hopes to issue a covered bond of between 500 million euros and 1 billion euros in September, its chief executive John Hourican told Reuters on Tuesday. Investors who bought into the capital raise include famed U.S/ billionaire Wilbur Ross and the European Bank for Reconstruction and Development.
NICOSIA, July 28- Bank of Cyprus, the Cypriot lender that recapitalised by seizing its clients' deposits last year, said it had raised 1 billion euros in a private placement on Monday, drawing in investors from the United States and Russia as well as from an EU-controlled bank.
July 28- Herbalife Ltd, a maker of weight-loss and nutritional products, cut its sales outlook for the year after raising it three months earlier, sending its shares down 10.5 percent in extended trading.
But the mediator, Daniel A. Pollack, said in a statement that while the Argentines would meet him, they had not yet accepted his recommendation of face-to-face talks with the plaintiffs in the dispute, led by New York billionaire Paul Singer's NML Capital Ltd.. District Judge Thomas Griesa has forbidden Argentina to pay them unless it also pays the holdouts.
Branson, whose investment in the airline is restricted by U.S. foreign investment rules, owns a 22 percent stake in Virgin America through the Virgin Group and a hedge fund.
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.
NEW YORK/ BUENOS AIRES, July 25- Argentina failed to reach a breakthrough with the U.S. court-appointed mediator in its battle with holdout creditors on Friday in talks that lasted just an hour, suggesting a settlement to avoid a default next week remains elusive.
July 25- A former adviser to mining giant BSG Resources was sentenced in New York federal court on Friday to two years in prison for obstructing a criminal probe in connection with a bribery investigation in Guinea.
Citadel CEO Ken Griffin has filed for divorce from his wife of 10 years. CNBC's Robert Frank has the details of the divorce, as well as a statistic on whether billionaires are more prone to divorce.
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.