Pres. Cristina Fernandez said her government will move its defaulted debt in Argentina or allow bondholders to swap their bonds for new bonds governed by national law.» Read More
NEW YORK, Aug 29- Argentina said on Friday it would appeal a U.S. judge's decision declaring illegal a $539 million payment the country deposited with Bank of New York Mellon Corp for its restructured bondholders.
Argentina will appeal a decision declaring illegal a $539 million payment the country deposited with Bank of New York Mellon Corp.
WASHINGTON, Aug 29- U.S. consumer spending fell in July for the first time in six months, but confidence among households hit a seven-year high in August, suggesting the retrenchment would be temporary.
*Escalation of Ukraine tensions pushes up yen, Swiss franc. LONDON, Aug 28- The yen and Swiss franc gained on Thursday, while the euro fell, as concerns about a serious escalation in tensions between Ukraine and Russia rattled investors and drove them to seek safe-haven currencies.
LONDON, Aug 28- The euro rose further off a one-year low against the dollar on Thursday as feverish speculation of an imminent round of quantitative easing by the European Central Bank cooled. The common currency rose 0.1 percent to $1.3213, up from Wednesday's low of $1.3151 on trading platform EBS- the euro's weakest since early September 2013.
NEW YORK, Aug 27- The euro rebounded from a 13- month low on Wednesday after a report suggested the European Central Bank might not introduce more stimulus next week while major U.S. stock indexes were little changed, with the S&P 500 hovering just above the 2,000 milestone.
NEW YORK, Aug 27- Major U.S. stock indexes rose on Wednesday with the Standard& Poor's 500 holding around the 2,000 milestone, while bets the European Central Bank is on the brink of injecting more stimulus knocked the region's government bond yields to record lows.
*Helaba, big savings banks, BNY Mellon form joint venture. FRANKFURT, Aug 27- Helaba, the German landesbank, has unveiled a joint venture with U.S. banking group BNY Mellon and the country's 25 largest savings banks to help corporate customers to expand foreign trade with Asia.
BNY Mellon, a financial intermediary between the Argentine government and its bond investors, in June held onto a $539 million interest payment owed to bondholders on the orders of a U.S. court. The Argentine government argued it had met its debt obligations and urged holders of exchange debt to pursue BNY Mellon for payment.
BUENOS AIRES, Argentina— Bank of New York Mellon, which has played a central role in the legal dispute that pushed Argentina into default last month, is no longer authorized to operate in the South American country, the government said Tuesday.
BNY Mellon, a financial intermediary between the Argentine government and its bondholders, has been caught up in a bitter legal battle between U.S. investment funds and the South American country, which in July defaulted for the second time in 12 years.
BUENOS AIRES, Aug 26- Argentina said on Tuesday it had stripped Bank of New York Mellon's authorization to operate in the South American country, its latest move against the financial institution which obeyed a U.S. court ruling that tipped it into default.
NEW YORK, Aug 25- The U.S. S&P 500 stock index broke through the landmark 2,000 level on Monday, marking a six year rally which has benefitted many Americans from Wall Street to Main Street. "I continue to think this bull market has several years to go," said Steven Einhorn, vice chairman of hedge fund Omega, which manages $10.5 billion.
Left-leaning President Cristina Fernandez unveiled on Tuesday measures that would see the South American country make payments on debts held under foreign legislation in Argentina and push bondholders to bring their notes under Argentine law.
NEW YORK, Aug 21- The U.S. judge who barred Argentina from servicing its debt until it settled with investors demanding full payment on their bonds scheduled a new hearing on Thursday, after the country unveiled plans to sidestep his ruling that led it to default for the second time in a dozen years.
NEW YORK, Aug 21- A U.S. investment fund pressing for full repayment on Argentine debt is urging a U.S. judge to consider declaring Argentina in contempt after Buenos Aires announced plans to skirt court rulings that pushed it into default.
WASHINGTON— Bank of America's record $16.65 billion settlement for its role in selling shoddy mortgage bonds— $7 billion of it geared for consumer relief— offers a glint of hope for desperate homeowners. "It is certainly better than nothing," said Bruce Marks, chief executive of the nonprofit Neighborhood Assistance Corporation of America.
An acceleration could leave Argentina facing claims of up to $30 billion, more than the government holds in foreign reserves.
*Fed minutes say surprised about quick progress in U.S. job market. NEW YORK, Aug 20- U.S. "The Fed came out with a hawkish tone in its minutes and people's perception is that the Fed will move soon on rates," said Tom di Galoma, head of fixed income rates and credit trading at ED&F Man in New York.
BUENOS AIRES, Aug 20- Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, the economy minister said on Wednesday, adding it would be "madness" to pay holdout creditors 100 cents on the dollar.