List of All Articles with Tag 'world'

McDonald’s Corp. quietly removed the term “ESG” from some parts of its website at a time when environmental,

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Wynn Resorts Ltd. is shutting down its sports betting app in eight states, becoming the latest company to

Veteran bond investor Bill Gross reckons benchmark 10-year Treasury notes are “overvalued” at current levels. Speaking in an

The US imposed sanctions on four Russian tycoons who helped found the Alfa Group banking conglomerate, finally joining

A co-founder of bankrupt crypto hedge fund Three Arrows Capital dodged having to pay a potentially hefty fine

A substantial majority of PDC Energy Inc.’s bondholders say they won’t tender their bonds following the company’s acquisition

Argentina's national primary election Sunday won’t just help determine which candidates will be running in the country's October presidential vote, but could impact the economy even before then. A strong showing by the opposition coalition would be cheered by markets in an election that will also test the national appeal of an eccentric right-wing anti-establishment candidate who is an admirer of former President Donald Trump. The primary is seen as a thermometer of voter preference ahead of the Oct. 6 election, which is expected to shift Argentina to the right with the current left-leaning government bottoming out in the polls amid rising poverty, a rapidly depreciating currency and galloping annual inflation that tops 100%. Sunday’s primary officially serves two purposes: determine the candidates that will run in the October election and weed out any candidates who don’t receive at least 1.5% of the vote. But it also serves as a massive, nationwide opinion poll in a country where pre-election polls have been notoriously wrong in the past. The primary can have an economic impact. Four years ago, an unexpectedly strong showing by now-President Alberto Fernández led to a sharp depreciation of the currency as markets saw the primary results indicating that business-friendly President Mauricio Macri was on his way out. The local currency, the Argentine peso, has seen its value plunge in parallel markets ahead of Sunday’s vote. Stringent capital controls mean that access to the official foreign exchange market is extremely limited, so parallel rates have flourished. Economists will be watching to see signs that the main center-right opposition could win the presidential election outright and avoid a second round runoff in November. “There is enthusiasm, especially outside of Argentina, about a profound regime change, but without going to the opposite extreme,” said Mariano Machado, principal analyst for the Americas at Verisk Maplecroft, a global risk intelligence firm. The wildcard of the race is upstart populist candidate Javier Milei, who has gained popularity thanks to his angry screeds against the ruling class and has found followers among those who are tired of politics as usual. His unorthodox proposals that include dollarizing the economy and getting rid of the Central Bank have found particular backing among the young. “We’re fed up with the status quo, with the same old thing, with the same last names that are on the ballot, we want to change things up a bit, and give an opportunity to someone who nobody knows if he will do well, but we’re going to give him a chance,” Efraín Viveros, a 20-year-old nursing student said Monday at Milei’s closing campaign rally in Buenos Aires. A strong showing for the main center-right coalition could buoy the market, but a stronger-than-expected showing for Milei would likely send the local currency, the peso, tumbling and cause general disarray in the markets due to uncertainty over his policies. The main presidential contenders all represent a rightward shift away from Fernández, who is not seeking reelection and has been largely absent from the campaign. Also largely absent has been his vice president, Cristina Fernández, who was the country’s president from 2007 to 2015. In the currently ruling coalition, Union for the Homeland, there is little doubt that Economy Minister Sergio Massa, a market-friendly politician, will receive the nomination although he is facing a challenge from a leftist candidate, Juan Grabois. A key contest Sunday will play out in the center-right United for Change opposition coalition with Buenos Aires Mayor Horacio Rodríguez Larreta facing off against former Security Minister Patricia Bullrich to determine who will be its candidate. Pollsters say the winner of this race will have a strong chance of becoming president. Regardless of who comes out on top, analysts will be watching closely whether a strong showing by the opposition could suggest an outright victory in October without a runoff. “While we expect a volatile political transition given macroeconomic woes, the (primaries) outcome could improve market sentiment, supported by a likely policy shift next year,” said the Institute of International Finance, a Washington-based association of the financial services industry, in a recent report. Milei was the only major candidate who held his final campaign rally. Other called off what were supposed to be their final events before the vote following the killing of an 11-year-old girl during a snatch-and-grab robbery Wednesday. The death of Morena Domínguez in an attack by two motorcycle-riding thieves in the Buenos Aires province district of Lanús, left the country reeling and put crime at the forefront of a campaign that had been dominated by economic issues. Also likely to impact the final days before the vote was the Thursday death of a leftist political activist, who suffered a heart attack while being detained by police during a protest in downtown Buenos Aires. Besides presidential voting in October, about half of Argentina’s lower house of Congress and one-third of the Senate will be up for grabs. Voting is mandatory in Argentina but the fine for failing to cast a ballot is largely symbolic. Recent national elections have seen a participation rate of around 70%. ——— Associated Press journalists Débora Rey and Almudena Calatrava contributed to this report. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide They lost everything in the Paradise fire. 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Short-term Treasury yields once again advancing toward 5% hog the spotlight, but there’s another drama unfolding in a

Argentina’s burgeoning shale oil and gas industry will be shielded from any violent swings in politics and policymaking

Attorney General Merrick Garland announced that he granted the US attorney investigating President Joe Biden’s son Hunter Biden special counsel status. Mr Garland announced that David Weiss, who has served as the US Attorney for Delaware since 2018, would serve as special counsel and he had informed relevant members of Congress about the nomination. The move is a shift from July when Mr Weiss informed Congress that he had not requested special counsel designation for his investigation into the president’s son. But on Tuesday, Mr Weiss requested such status. “I have concluded that it is in the public interest to appoint him as special counsel,” Mr Garland said on Friday. “This appointment confirms my commitment to provide Mr. Weiss all the resources he request.” Mr Weiss had previously been investigating Hunter Biden since 2019. Mr Garland and the Department of Justice allowed Mr Weiss to stay on board as US attorney when Mr Biden took office in 2021 to continue his investigation of Mr Biden. In July, Mr Biden looked set to enter into a plea deal for unpaid taxes and lying on a federal application for a firearm. Republicans, including former president Donald Trump, had decried the agreement as a sweetheart deal. Many Republicans argued that the younger Mr Biden received preferential treatment because he is the president’s son despite the fact that Mr Trump nominated Mr Weiss and Republicans in the Senate voted to confirm him in 2018. Then in late July, Mr Biden pleaded not guilty to two of the charges after the presiding judge questioned whether the deal would prohibit the federal government from prosecuting him for other crimes he might have committed in the future. The White House referred to remarks from Mr Garland and the Justice Department when asked by The Independent. Mr Garland said that Mr Weiss’s office would not be subjected to day-to-day supervision but would have to comply with regulations, procedures and policies of the Justice Department. Mr Weiss would also be mandated to write a report of his investigation once it concludes. “ As with each special counsel who has served since I have taken office, I am committed to making as much of his report public as possible, consistent with legal requirements and department policy,” he said. “Today's announcement affords the prosecutors agents and analysts working on this matter, the ability to proceed with our work expeditiously and to make decisions indisputably guided only by the facts and the law.” Mr Garland’s announcement comes the same day that former president Donald Trump’s legal team appeared in court in Washington, DC and earned a win as US District Judge Tanya Chutkan ruled that a protective order against Mr Trump would only apply to sensitive material such as jury transcripts, witness interview records and other documents. Mr Trump faces charges for his attempts to overturn the 2020 presidential election after a federal grand jury indicted him in response to a presentation from Special Counsel Jack Smith’s office. Mr Garland nominated Mr Smith to investigate Mr Smith to investigate Mr Trump. In addition, the attorney nominated Robert Hur to investigate classified documents found in locations associated with President Biden earlier this year. Read More Hunter Biden’s plea deal appears at risk of falling apart. What happens next? Hunter Biden pleads not guilty to two tax charges after court chaos around deal with prosecutors Attorney General Garland will appoint special counsel in Hunter Biden probe Utah man killed after threats against Biden believed government was corrupt and overreaching Utah man suspected of threatening President Joe Biden shot and killed as FBI served warrant

Treasury Secretary Janet Yellen will next week advance the growing effort among administration officials looking to convince voters