Buenos Aires News
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Argentine President Cristina Fernandez de Kirchner defused speculation she would announce a takeover of the country’s biggest energy company today during an annual speech to Congress. Shares of YPF SA soared.
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The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of the close in Buenos Aires.
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YPF SA, Argentina’s largest energy company, rose the most in a decade after President Cristina Fernandez de Kirchner didn’t address a potential nationalization of the company as speculated in local media reports.
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Argentina’s farmers in the Pampas agricultural zone will get more rain next week after abundant downpours alleviated crop damage in February, the Buenos Aires Cereals Exchange said.
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Spain and Argentina formed a working group to resolve their “differences” over YPF SA, the Argentine oil company majority-owned by Madrid-based Repsol YPF SA, Industry Minister Jose Manuel Soria said.
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Brazil’s lower house of Congress today gave its final approval to a bill that caps government pension payments, a move that Moody’s Investor Service Inc. says may contribute to improving the nation’s credit rating.
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The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of the close in Buenos Aires.
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Malaysian Airline System Bhd., the nation’s largest long-haul carrier, reported a fourth straight quarterly loss on rising fuel costs and provisions for returning leased aircraft early.
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Argentine officials told executives from about 20 companies to cut their imports of goods made in the U.K. as a protest over control of the Falkland Islands, said an official who declined to be identified because he isn’t authorized to speak publicly.
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YPF SA, Argentina’s largest oil producer, fell to the lowest in more than 19 months after the government stepped up pressure on the company to boost output.
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