Stories for March 4th 2016
Brazil political system in shock: police question Lula da Silva for three hours and raid his properties
Brazilian police on Friday questioned former President Lula da Silva for over three hours and searched his home and other properties linked to him and his family, one of the most dramatic developments yet in the sprawling corruption case at the oil giant Petrobras.
Brazilian GDP contracted 3.8% in 2015, the worst among major economies
Brazil's GDP fared worse than almost any other major economy in 2015, contracting by 3.8%, according to the national statistics agency IBGE. Economic growth in the world's seventh-largest economy has fallen sharply in recent months, which was due partly to low commodity prices and sluggish global growth.
Paul Singer will have made a $2.4bn profit with the Argentine defaulted bonds
Elliott Management Corp., a New York-based hedge fund that invested in distressed Argentine government bonds well over a decade ago, will have made a $2.4 billion profit on its wager once this week's settlement is finalized, the Wall Street Journal said.
French president wants UK in the EU and warns of the consequences of leaving
French President Francois Hollande has said he wants the UK to stay in the EU - and warned of the “consequences” for immigration and the economy of leaving. A French government minister earlier suggested his country could end UK border controls in Calais.
Argentina and Uruguay unable to arrest a Chinese flagged poaching jigger
The Argentine Coast Guard and Uruguayan navy failed in capturing a Chinese flagged jigger poaching in the two countries shared waters. According to non official reports, two Argentine Coast Guard vessels and a helicopter plus a Uruguayan aircraft and vessel were involved in the attempt to arrest Hua Li 8.
