BUENOS AIRES, Argentina (AP) — Argentina is asking a US appeals court to reverse an order for the country to pay $1.33 billion to "holdout" creditors who refused to join two swaps for the country's defaulted debt.Argentine government lawyers said in papers filed late Friday that the order violates the country's sovereignty. The lawyers said the order also threatens service on at least $24 billion...
Venezuela VP in Cuba to visit ailing Chavez
Labels: WorldHAVANA (AP) — Venezuela's vice president arrived in Havana on Saturday in a sudden and unexpected trip to visit President Hugo Chavez as he recovers from cancer surgery.Communist Party newspaper Granma published online a photo of a smiling Vice President Nicolas Maduro being greeted at the airport in the Cuban capital by the island's foreign minister, Bruno Rodriguez."From there, (Maduro) went directly...
AP's Honduras correspondent navigates violent land
Labels: WorldTEGUCIGALPA, Honduras (AP) — Every Saturday morning, one of my taxi drivers pays about $12 for the right to park his cab near a hospital, about two blocks from a police station.But it's not the government that's charging.An unidentified man pulls up in a large SUV, usually brandishing an AK-47, and accepts an envelope of cash without saying a word. Jose and nine other drivers who pay the extortionists...
Brazil debates treatment options in crack epidemic
Labels: WorldRIO DE JANEIRO (AP) — Bobo has a method: Cocaine gets him through the day, when he cruises with a wheelbarrow around a slum on Rio's west side, sorting through trash for recyclables to sell. At night, he turns the day's profit into crack."Sometimes I don't sleep at all; I'm up 24 hours," says Bobo, a former soldier who doesn't use his given name for safety reasons. "I work to support my addiction,...
President's brother speaks out on Colombia talks
Labels: WorldBOGOTA, Colombia (AP) — A brother of Colombian President Juan Manuel Santos has revealed that the country's largest guerrilla group had initially proposed to hold peace talks within Colombia or in neighboring Venezuela, rather than in Cuba.Enrique Santos said in an article published in the newspaper El Espectador on Sunday that the government's team had insisted that the talks not be held in Colombia."We...
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Swiss lender ZKB says three charged by U.S. authorities
Labels: BusinessSwiss lender Zuercher Kantonalbank (ZKB) said two of its bankers and one former employee had been charged by U.S. authorities, which had accused them of helping U.S. clients avoid taxes.The three were indicted over changes of conspiring with American clients to hide more than $420 million from the U.S. Internal Revenue Service, the U.S. Attorney's Office in Manhattan had said on Wednesday.The indictment...
Existing home sales rise to fastest pace in three years
Labels: BusinessWASHINGTON (Reuters) - Home resales rose sharply in November to their fastest pace in three years, a sign the recovery in the housing market is gaining steam.The National Association of Realtors said on Thursday that existing home sales climbed 5.9 percent last month to a seasonally adjusted annual rate of 5.04 million units.That was the fastest since November 2009, when a federal tax credit for home...
New York City should hike taxes on big business-comptroller
Labels: BusinessNew York City's top financial officer and possible contender for mayor in 2013, John Liu, proposed on Thursday tax hikes for big businesses and an end to Madison Square Garden's $15 million annual property tax exemption.The proposals by New York City Comptroller John Liu include tax hikes on private equity firms, which would help offset his plan for $500 million in tax breaks and lowered fines for...
Republicans push own "fiscal cliff" plan; talks frozen
Labels: BusinessWASHINGTON (Reuters) - Republicans in the Congress pushed ahead on Thursday with a "fiscal cliff" plan that stands no chance of becoming law as time runs short to reach a deal with President Barack Obama to avert a Washington-induced economic recession.House of Representatives Speaker John Boehner's "Plan B" to limit income-tax increases to the wealthiest sliver of the population appeared likely to...
Canada's seven-month budget gap narrows to C$10.6 billion
Labels: Business Canada's federal budget deficit narrowed in the first seven months of the fiscal year to C$10.57 billion ($10.68 billion) from C$13.90 billion in the same period last year as personal and corporate income tax revenues rose and debt charges were lower.The monthly shortfall in October was C$1.68 billion, compared with a gap of C$2.13 billion a year earlier, the Department of Finance said in a...
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