It's sounds like a story from the past: A Latin American leader announces plans to nationalize a large foreign company, touching off a high-stakes battle that involves money, politics and diplomacy.
Yet it's happening right now. Argentina's President Cristina Fernandez said this week that her country plans to take over a giant Spanish oil company at a time when the economies in both countries are facing challenges.
Spanish officials are threatening to retaliate against Argentina for seizing a majority of shares in the biggest oil company in Argentina, YPF.
This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.
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And I'm Audie Cornish.
It's been less than a week since North Korea's failed rocket launch created an international furor. Well, today, India tested its own long-range missile. The new weapon is capable of carrying a nuclear warhead to Beijing, and the test went off with little international comment. The Indian government called the successful launch a historic event in the country's development.