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Brazil

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  • SAO PAULO, July 29- Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S. Paulo reported on Wednesday. Former President Luiz Inacio da Silva's government agreed in 2008 to purchase five submarines, including a...

  • BRASILIA, July 29- Brazil's central bank was poised to maintain its aggressive pace of interest rate hikes on Wednesday after a steep cut in fiscal savings targets weakened the real currency and stirred doubts about the government's commitment to help contain price increases. The Brazilian real has slid nearly 4 percent against the U.S. dollar to its weakest...

  • BRASILIA, July 29- Brazil's central bank is widely expected to raise its policy interest rate on Wednesday after a steep cut in fiscal savings targets weakened the real currency and stirred doubts about the government's commitment to help contain price increases. Standard& Poor's threat on Tuesday to strip Brazil of its coveted investment-grade rating in...

  • *Protesters block Codelco mine access roads across Chile. SANTIAGO, July 28- A week-long strike by Codelco contract workers in Chile briefly stopped work at its second-largest copper mine on Tuesday, as Codelco Chief Executive Officer Nelson Pizarro negotiated with companies that employ the striking workers. Its small Salvador mine, which produced 54,000...

  • SAO PAULO— Standard& Poor's Ratings Services said on Tuesday it has revised the outlook for Brazil's foreign-currency debt from stable to negative. The ratings agency said in an emailed statement that it has kept Brazil's BBB- long-term foreign-currency sovereign credit rating and the country's BBB+ long-term local-currency sovereign credit rating.

  • SAO PAULO, July 28- General Motors Co plans to double its investment in Brazil to 13 billion reais through 2019 and introduce a new family of vehicles into the country, the U.S. carmaker's executives said on Tuesday. Speaking at a press conference in Sao Paulo, Jaime Ardila, the head of GM in South America, said the company's investment in Brazil would be aimed at...

  • SAO PAULO, July 28- General Motors Co plans to double its investment in Brazil to 13 billion reais through 2018 and introduce a new family of vehicles into the country, executives at the U.S. carmaker said on Tuesday. Speaking at a press conference in Sao Paulo, Jaime Ardila, the head of GM in South America, said the company's investment in Brazil would be aimed at...

  • The arrests come as federal police follow allegations that a price-fixing, bribery and political kickback scheme they discovered at Petrobras extends to other state-led firms, including Eletrobras, Brazil's largest utility. Federal prosecutor Athayde Ribeiro Costa told journalists that police also had arrested Andrade Gutierrez executive Flavio...

  • MILAN, July 28- Telecom Italia is to bolster its Brazilian unit with the addition of a chief operating officer to help revive sales and get the company in shape ahead of possible industry consolidation, two people with direct knowledge of the matter told Reuters. It will appoint Pietro Labriola, a long-standing Telecom Italia manager, to the new role at TIM...

  • CURITIBA, Brazil, July 28- Brazilian police on Tuesday arrested two people involved in building a nuclear power plant for Brazil's Eletrobras, pulling the state-led utility holding company into a giant corruption scandal surrounding state-run oil company Petrobras. The arrests come as Brazil's Federal Police and federal prosecutors follow allegations...

  • SAO PAULO, July 28- Brazilian federal police said on Tuesday they were completing two arrest warrants as part of a corruption investigation into Eletronuclear, a subsidiary of state-run electric utility Eletrobras. Federal police called a press conference for 10 a.m., to discuss the operation, which also included 23 search and seizure warrants in several...

  • BRASILIA, July 27- Brazil's largest party is standing by deeply unpopular President Dilma Rousseff for now despite the defection of one of its own leaders, but that could change if an expected recession stirs up social unrest, party leaders say. Eduardo Cunha, speaker of the lower house of Congress, broke off ties with Rousseff and wants his Brazilian Democratic...

  • MELBOURNE, July 27- London copper slipped on Monday to trade near its weakest in six years, as concerns over demand in top user China was compounded by a seasonal slowdown in manufacturing activity over the summer and ample supply. *Three-month copper on the London Metal Exchange edged down by 0.3 percent to $5,246.50 a tonne by 0038 GMT, after also ending softer on...

  • SANTIAGO, July 24- A Chilean mining contract worker was shot dead by police on Friday during a protest against state-owned copper company Codelco, prompting union leaders to say a four-day strike would intensify. The CTC did not elaborate on how it would escalate the labor dispute, which has already forced the suspension of operations at Codelco's Salvador...

  • July 24- Prosecutors and federal police in Brazil unearthed the country's largest-ever corruption scandal by tying a ring of black-market money changers to a price-fixing and political kickback scheme at state-run oil firm Petrobras. Executives from two dozen engineering firms are accused of inflating the value of service contracts and funneling the...

  • RIO DE JANEIRO, July 24- More than a thousand taxi drivers protested in Rio de Janeiro on Friday against ride-sharing company Uber, blocking roads and stalling traffic during morning rush hour as tensions rise in the city over the mobile app ride service. Uber Technologies Inc responded by offering free rides to customers to help alleviate transport issues on...

  • Brazilian oil workers go on a 24-hour strike Friday, 24 Jul 2015 | 11:41 AM ET

    SAO PAULO— Tens of thousands of workers at Brazil's state-owned Petrobras went on a nationwide 24- hour strike on Friday to protest the oil company's plans to sell $15.1 billion worth of assets by the end of next year to help pay off a debt of about $120 billion. Caroline Cavassa, a press officer for the National Oil Workers Federation, said 90 percent of the...

  • SANTIAGO, Chile— A mining contractor was shot dead early Friday in Chile after clashing with police during protests against the state-run copper giant Codelco. The Confederation of Copper Workers said that Nelson Quichillao, 47, was shot by police at 2:00 a.m. near Codelco's Salvador mine in the northern Atacama region. The state-run miner said another...

  • Brazil's unemployment rates rises Thursday, 23 Jul 2015 | 10:57 AM ET

    SAO PAULO— Brazil's government says the jobless rate in Latin America's largest country rose for the sixth straight month in June. The country's IBGE statistics bureau said Thursday that the unemployment rate in June was 6.9 percent, against 6.7 percent in May and 4.8 percent in June of last year. IBGE said that the jobless population in June remained stable at...

  • SANTIAGO, July 23- Chile's salmon farmers are using record levels of antibiotics to treat a virulent and pervasive bacteria, driving away some U.S. retailers including Costco Wholesale Corp, which is turning to antibiotic-free Norwegian salmon. Still, amid growing concerns in the U.S. food industry that heavy use of antibiotics in animals can spawn...