On Friday, May 25, Juan Manuel Santos, President of the Republic of Colombia, visited the New York Stock Exchange (NYSE). During his visit, the President met with NYSE Euronext executives, participated in an executive roundtable breakfast, ringed The Opening BellSM and toured the NYSE trading floor.READ MORE HERE
Mexico will proceed to investigate allegations that the Mexican unit of Wal-Mart Stores Inc bribed officials to expand its business there. The Mexican federal comptroller’s office said it had begun checking the federal paperwork and permits that Wal-Mart de Mexico, known as Walmex, obtained to open and operate its stores in Mexico. The comptroller’s office added that [...]
2012 Apr 27 | Posted in
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Spanish oil company Repsol-YPF announced it will demand over nine billion dollars from Argentina for nationalizing 51 percent of its YPF division, a price tag that has already been rejected by authorities in Buenos Aires. The Argentine government’s decision to take control of the company has sparked a diplomatic crisis between Argentina and Spain, while provoking [...]
A crusading federal prosecutor in Brazil this week opened his second 20 billion real ($10.9 billion) lawsuit against U.S. oil company Chevron and driller Transocean, doubling the charges against both companies while drawing criticism from other Brazilians. The new lawsuit, the second filed by Eduardo Santos de Oliveira against the companies in less than five months, is related to an oil leak discovered [...]
2012 Apr 06 | Posted in
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Sturm Ruger & Co.’s recent announcement that it would freeze orders until it eliminates a huge backlog is the latest indicator that business is great for the U.S. firearms industry. Late Wednesday, Sturm Ruger announced that it had received orders for more than 1 million units during the first quarter of the year. And despite “efforts to increase [...]
A judge in Campos, Brazil, may transfer the criminal case filed against Chevron and drill-rig operator Transocean to Rio de Janeiro, a move that would eliminate a crusading prosecutor from that case. Eduardo Santos de Oliveira, a federal prosecutor based in Campos, in Rio de Janeiro’s interior, said on Friday that a jurisdictional review is under way that could postpone criminal indictment of both [...]
2012 Mar 24 | Posted in
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Venezuela President Hugo Chavez threatened on Sunday to nationalize any private bank that fails to comply with local legislation setting standards for agricultural finance and other projects in the country. The leftist leader, who since 2008 has increased state involvement in the financial sector, has criticized banks repeatedly for their lack of support with agriculture [...]
Brazilian prosecutors are planning to file criminal charges against Chevron Corp within the next several weeks, adding the possibility of prison time to an $11 billion civil lawsuit for a November oil spill offshore. The federal court filing in Campos, Brazil, will probably include a criminal indictment of Chevron Brazil CEO George Buck and other staff, [...]
2012 Jan 28 | Posted in
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Venezuelan President Hugo Chavez announced on Sunday that his nation will not recognize any decision by a World Bank tribunal in a multibillion-dollar arbitration case against Exxon Mobil Corporation. Exxon has called Venezuela before the World Bank’s International Center for Settlement of Investment Disputes, or ICSID, demanding $12 billion in compensation for nationalization of the Cerro [...]
2012 Jan 10 | Posted in
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Venezuelan President Hugo Chavez claimed this week that China may replace the U.S. as Venezuela’s leading trade partner, thanks to a strategic alliance between those two nations. Chavez said that commerce between Venezuela and China has reached $20 billion this year, up from $600 million a decade ago, and is now growing by $2 billion [...]
