Argentine President Cristina Kirchner's government was accused by a leading Republican U.S. senator Friday of risking a credit default and of failing to stand by its democratic promises.
Latin America's third-largest economy appears powerless in the face of the hemorrhage of its currency, the peso, and Argentina's central bank has said it burned through $2.1 billion in reserves in January alone.
Full StoryPresident Barack Obama signed an agriculture bill worth more than $950 billion Friday, saying the rare product of cooperation in Washington was an example of how the gridlocked U.S. political capital should work.
Obama traveled to Michigan to highlight the measure, which he compared to a Swiss Army knife because it had so many different functions as it expands U.S. food exports, broadens conservation and safeguards water resources.
Full StoryA $1.6 billion dispute over cost overruns paralyzed the Panama Canal's expansion for a second day on Thursday, with analysts warning that thousands of jobs and the economy are on the line.
Talks between the Panama Canal Authority and a consortium led by Spanish builder Sacyr broke down on Wednesday as the two sides failed to bridge their differences over who should foot the bill.
Full StoryGermany's trade surplus soared to a new record high in 2013, although export momentum tailed off at the end of the year, official data showed on Friday.
Europe's biggest economy notched up a trade surplus of 198.9 billion euros ($270 billion) in 2013, the highest since foreign trade data have been compiled.
Full StoryGoogle bought a 5.94 percent stake in Lenovo for $750 million on the same day it agreed to sell handset maker Motorola to the Chinese technology giant, a report said Friday.
The U.S. Internet firm acquired 618.3 million shares in the PC maker at $1.213 each when Lenovo bought Motorola for $2.91 billion last Thursday, according to Dow Jones Newswires.
Full StoryAustralia's central bank lifted its economic growth forecasts Friday as the local currency weakens and lower interest rates boost spending, but it sounded a warning on inflation and said unemployment would rise.
The Reserve Bank of Australia said it now expected the economy to expand 2.75 percent in the year to June 30 and between 2.25 and 3.25 percent in the year to December 31. That compares with November's forecasts of 2.5 percent and 2.0-3.0 percent.
Full StorySwiss banking giant Credit Suisse more than doubled its net profit last year, but still missed expectations amid big legal charges, a results statement showed on Thursday.
In 2013, the bank saw its net profit balloon to 3.06 billion Swiss francs ($3.38 billion 2.50 billion euros), up from 1.34 billion a year earlier.
Full StoryBritish mobile phone giant Vodafone announced on Thursday a drop in quarterly revenue as strains across its European operations offset solid progress in emerging markets.
Group revenue slipped 1.5 percent to £9.587 billion ($15.621 billion, 11.553 billion euros) in the group's third quarter, or three months to the end of 2013, compared with the equivalent period a year earlier, Vodafone said in a statement.
Full StoryThe European Central Bank sits down to its regular monthly policy meeting Thursday amid speculation that weaker-than-expected eurozone inflation data could prompt a cut in interest rates.
Data compiled by the EU's statistics agency Eurostat last week showed that eurozone inflation slowed to 0.7 percent in January from 0.8 percent in December, way below the ECB's target of just below 2.0 percent.
Full StorySony on Thursday warned it would book a $1.08 billion annual loss and cut 5,000 jobs while exiting the stagnant PC market this year as the once-mighty electronics giant struggles to reinvent itself in the digital age.
The shock news comes a week after Moody's downgraded the firm's credit rating to junk, saying the maker of Bravia televisions and the PlayStation games console had more work to do in repairing its battered balance sheet.
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