Argentina asked a judge in New York to deny a request by holders of $5.4bn in claims on defaulted bonds to block the nation from paying its restructured debt unless it also pays them.

Talks aimed at averting Argentina’s second default in 13 years has ended with bitter recriminations as the South American country said it could not accept a deal with US hedge fund creditors it dismisses as “vultures”.

Argentina’s government is to make another effort to reach a deal with US. creditors before a looming deadline that risks sending the country into its second default in 13 years.

Argentina is willing to negotiate to avoid a catastrophic default, Argentina’s economy minister said.

The Celtic Tiger years in Ireland were mirrored to a large extent in many other economies across the world.

A US Supreme Court ruling may have serious implications for bond markets and for Irish debt, writes Kyran Fitzgerald.

Barclays chief executive Antony Jenkins and HSBC chairman Douglas Flint said the financial system’s safety has improved in the past five years, splitting delegates at the World Economic Forum in Davos, Switzerland.

Argentina squared off with a group of US hedge funds in a court case that has the potential to unravel its deals over the past decade to emerge from a $100bn (€76bn) pile of bad national debt.

SATURDAY

Oil giant BP today confirmed plans for a restructuring after the group's new boss spoke of the group's "dreadful" performance.

Improved sales of eco-friendly devices to cut car emissions helped catalysts specialist Johnson Matthey post a boost in profits today.

UK gases giant BOC today said its £8.2bn (€12bn) takeover by German industrial conglomerate Linde was on course as it reported a “strong trading performance” in the first half.

BP will report a sharp jump in profits today, although the figure is unlikely to top the record set by rival Royal Dutch Shell last week.