Argentina raises eyebrows with surprise 100-year bond sale

Argentina has offered a 100-year bond in U.S. dollars, the finance ministry said on Monday, just over a year after the nation emerged from default.

Investors said there would be appetite for the bond with a yield of 7.9 percent given the low yields elsewhere in the fixed income market and the need for pension funds to lock in long-term returns.

Still the move came as a surprise given Argentina only last year ended a decade-long dispute with creditors over its 2002 default and residents tend to frown upon accumulating debt in dollars.

"It's awfully premature for Argentina to issue 100-year bonds," said Jorge Piedrahita, chief executive officer of Puma Investments, who said he would "sit on the sidelines" for this bond. "When you look back in history, I'm not sure we can find a 20-year period where Argentina has not defaulted." read more »

The Salvation of Barclays Comes Back to Haunt It

Criminal charges stemming from raising money in 2008 are brought against a former CEO and three other senior managers.

During the depths of the financial crisis, Barclays Plc raised 12 billion pounds ($15 billion) -- about half from Qatar -- to avoid a collapse like Lehman Brothers or a bailout like Royal Bank of Scotland. It retained its independence, but a succession of investigations into misbehavior dating to those years has since bedeviled five chief executive officers. read more »

U.S. Courts Aren’t Interested in Chevron’s Pollution Case, But Other Nations May Be

Litigation over massive contamination in Ecuador shifts southward and northward.

Chevron Corp. won a big victory Monday when the U.S. Supreme Court declined to take up a case that began with an effort to hold the company liable for massive oil pollution in the Ecuadorian Amazon. But the long international war over who’s responsible for the degradation of the rainforest is far from over.

Litigation continues in Canada and Brazil. Back in the U.S., the energy giant has asked a federal court to force the lead lawyer for Ecuadorian villagers to pay the company tens of millions of dollar in attorneys’ fees. Chevron’s legal fee motion can be interpreted as a warning to other plaintiffs’ lawyers who might use tactics similar to those employed in the Ecuador case. read more »

Uber's scandals, blunders and PR disasters: the full list

The company has had a seemingly never-ending string of missteps, from its controversial CEO to questionable tactics and sexual harassment claims

Uber has been rocked by a steady stream of scandals and negative publicity in recent years, including revelations of questionable spy programs, a high-stakes technology lawsuit, claims of sexual harassment and discrimination and embarrassing leaks about executive conduct.

The PR disasters culminated in CEO Travis Kalanick taking an indefinite leave of absence this week and promises of bold reform that largely ignored the ride-hailing company’s strained relationship with drivers.

Here is a timeline of some of the most consequential controversies. read more »

Whistleblower Claims Local Foundation Misappropriated Funds, Including Taxpayer Money

A D.C.-based foundation that houses a network of 700 tax-exempt community funds and manages more than $326 million in charitable donations has misappropriated funds, cheated the IRS, and committed forgery, according to a D.C. Superior Court civil complaint.

The complaint also claims that the foundation covered up misuse of D.C. government funds intended for early childhood education. read more »