North Korea fires artillery into waters near border with South Korea
More than 100 rounds were fired in an incident that is expected to escalate tensions between the two countries. It comes a day after the North seized a South Korean fishing boat.
Will Colombia’s Santos slay fiscal deficit dragon?
BOGOTA, Aug 9 (Reuters) – Wall Street has greeted Colombia’s new President Juan Manuel Santos as a champion of the markets who promises to improve the country’s finances by reining in the central government’s chronically high deficit.
But investors will watch closely for proof that Santos, who was sworn in on Saturday [ID:nN07219451], is serious about clamping down on the structurally high spending that has mired Colombia’s credit rating in junk bond territory for more than a decade.
BP and U.S. Agree on Oil Spill Compensation Fund
Aug. 9 (Bloomberg) — The U.S. completed negotiations with BP Plc over the company’s agreement to establish a $20 billion fund to compensate victims of the oil spill in the Gulf of Mexico, according to the Justice Department.
The negotiations followed an agreement made between the London-based company and President Barack Obama on June 16.
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