August 21, 2014
US District Judge Thomas Griesa today declared that an Argentine plan to change the jurisdiction of restructured foreign debt was illegal, while resisting holdout investors' demands that Argentina be held in contempt of court for attempting to change the site of payment to Buenos Aires.• ‘Risk of contempt is overblown’, by Tomás Brockenshire • Gov't says 'contempt ruling' inapplicable to Argentina • Aurelius: 'Argentine leaders have chosen to be outlaws'
In a market shaken by the government’s plan to restructure the external debt replacing the bank of New York Mellon as trustee, the "blue" dollar jumped 40 cents to close at 13.95 pesos. Meanwhile, the official dollar rate climbed seven cents and a half and closed at 8.405 pesos.
Deputy Minister of Economy Emmanuel Álvarez Agis denied that the government plans a new devaluation and warned against “abrupt” exchange rate increases which create “tense situations” for the country.
Cabinet Chief Jorge Capitanich bashed Buenos Aires City Mayor Mauricio Macri for his remarks against the national government’s plan to reopen the debt swap, replacing the Bank of New York Mellon with local Banco Nación as trustee.• Macri: ‘This is clearly not the way’
In an interview with Argentina’s daily Ámbito Financiero, Nobel Economics laureate Joseph Stiglitz considered the government’s move to reopen the debt swap a “good call” saying the reopening would not be mandatory, “voluntarily" inviting bondholders to join the strategy.
Following the announcement by the dissident CGT umbrella union of a 24-hour strike for August 28, Cabinet Chief Jorge Capitanich said the anti-government CGT splinters led by Hugo Moyano and Luis Barrionuevo “does not represent the majority of workers or unions.”
The Cristina Fernández de Kirchner administration should not rely on Radical MPs’ support to the government-sponsored bill seeking to reopen Argentina’s debt swap, head of the party Ernesto Sanz said as he called for “responsibility, seriousness and rectitude” in the debate.
US stocks ended higher today, with the S&P 500 at a record after a flurry of positive economic data, as investors hoped for signs from an annual meeting of central bankers that interest-rate hikes are not imminent.
The federal government has moved to restrict beef exports for a 15-day period seeking to stem the rise of prices in the domestic market. The decision sparked criticism by business leaders in the sector with some voices saying the strategy will have “no positive effects.”
Bank of America Corp has reached a $16.65 billion settlement with US regulators to settle charges that it misled investors into buying troubled mortgage-backed securities.
Cabinet Chief Jorge Capitanich reiterated that the bill pushed by the Executive “is not about a change of jurisdiction but of venue” and pledged that bondholders who voluntary accept the new swap will have “clear, certain” chances to receive payment.• Kicillof: 'No change of payment jurisdiction'
The government’s plan to restructure its external debt to skirt a US ruling that prevented it paying its creditors boosts the risk of investors demanding the accelerated payment of their bond holdings.
The Minimum Wage Council is set to meet on August 29 to discuss a rise, secretary of the pro-government CGT umbrella union Andrés Rodríguez has told reporters after a meeting with Cabinet Chief Jorge Capitanich, Economy Minister Axel Kicillof and Labour Minister Carlos Tomada.
The sophistication, wealth and military might of Islamic State militants represent a major threat to the United States that may surpass that once posed by al Qaeda, US military leaders said.
The US Justice Department is conducting a criminal investigation into the death of American journalist James Foley, Attorney General Eric Holder has said.• 'US to do what must to protect citizens' • IS releases video 'beheading' US reporter
Israel killed three senior Hamas commanders in an air strike on the Gaza Strip today, the clearest signal yet that Israel is intent on eliminating the group's military leadership after a failed attempt on the life of its top commander this week.• Hamas: Israel trying to kill military chief • Hamas admits group abducted Israeli teens
The first full day of debate in the Senate on a new consumer protection bill and the reforms to the Anti-Hoarding and Competition laws has made it clear that any amendments will not be immediate as there are still marked differences between the government, opposition and business sectors.
By Luciana Bertoia
Federal Judge María Romilda Servini de Cubría would be willing to hand the investigation into the appropriation of Estela Barnes de Carlotto’s grandson over to Judge Manuel Blanco, who has to decide if the case falls within his jurisdiction of La Plata.
Michael Soltys / Senior Editor / Economic Outlook
Eric Weil / Sportsworld
By Reihan Salam
We know little about the exact circumstances surrounding the shooting death of 18-year-old Michael Brown. But had the police officer who shot and killed Brown been obligated to wear a video recording device, there is at least some reason to believe that Brown would still be alive.
By Pablo Suárez
Damián Szifrón’s Relatos Salvajes is as good as it could be, and yet it isn’t. As a series of six autonomous stories, it runs into a common problem in films of this kind: not all the stories are equally interesting, or compelling, or well- executed, or ingenious.