The head of the Cayman Islands financial services industry trade group rejected charges from economist Jeffrey Sachs that the Caribbean nation’s oversight of hedge funds and banks is a “mortal threat” to the global economy.
Spanish politicians trying to cushion the blows of austerity plan to seize foreclosed homes to house the needy, discouraging foreign investment and threatening to violate terms of the European bailout of the country’s banks.
Ecuador, which defaulted on $3.2 billion of its foreign debt four years ago, is planning to tap global credit markets this year as demand for higher-yielding assets drives down borrowing costs, Standard & Poor’s said.
Carbon-market supporters from China to California will push for emissions trading even as they prepare for the end of the United Nations Kyoto Protocol in seven years, Europe’s top climate negotiator said.
Bolivian President Evo Morales, who traditionally uses May 1 speeches to announce company takeovers, said he’s expelling the U.S. Agency for International Development for conspiring against his government.
Tobacco magnate Horacio Cartes was elected president of Paraguay yesterday amid agriculture-driven economic expansion forecast to surpass 11 percent this year in one of Latin America’s poorest countries.