Latin America Brazil

  • SAO PAULO, Sept 26- Brazilian planemaker Embraer SA confirmed on Monday that it would cut nearly 8 percent of its workforce through a voluntary buyout program, slashing costs amid weak business jet sales and downsized defense contracts. Union leaders said last week that nearly half of the workers leaving are metalworkers on Embraer's assembly lines in Sao...

  • Workers assemble a grain combine at the Case New Holland factory in Curitiba, Brazil.

    In emerging markets, there's life after BRICS, and analysts say it's in private banking as the middle class thrives.

  • Treasury Secretary Jack Lew will urge his counterparts in Argentina, Brazil, Colombia and Mexico next week to press ahead with economic and fiscal reforms aimed at restoring or strengthening growth, a senior Treasury official said on Friday. He will be the first Treasury secretary to visit Buenos Aires since 2002, recognizing efforts by President Mauricio...

  • Treasury Secretary Jack Lew will urge his counterparts in Argentina, Brazil, Colombia and Mexico next week to press ahead with economic and fiscal reforms aimed at restoring or strengthening growth, a senior Treasury official said on Friday. He will be the first Treasury secretary to visit Buenos Aires since 2002, recognizing efforts by President Mauricio...

  • RIO DE JANEIRO, Sept 23- Brazil's state-owned oil producer Petrobras agreed to sell 90 percent of a natural gas pipeline unit to a group led by Canada's Brookfield Asset Management Inc for $5.2 billion, the companies said on Friday. The investor group includes two sovereign wealth funds, China's CIC Capital Corp and Singapore's GIC Private Ltd..

  • RIO DE JANEIRO— The board of Brazilian state-run oil giant Petrobras has approved the sale of a key natural gas pipeline unit to a group of investors led by Toronto- based Brookfield Asset Management. Petrobras says the group will pay $5.2 billion over five years to acquire a 90 percent stake in the Nova Transportadora do Sudeste unit. A Friday statement says the...

  • Brazil's suspended president, Dilma Rousseff, attends the final session of debate and voting on her impeachment trial in Brasilia on August 29, 2016.

    The Brazil and Russian economies have been crushed by oil prices and political intrigues, so why are their stocks on fire?

  • Sept 23- Brazil's state-run oil company Petroleo Brasileiro SA agreed to sell 90 percent of its natural gas pipeline unit for $5.2 billion to a group of investors led by Canada's Brookfield Asset Management Inc, the companies said on Friday. The consortium includes sovereign wealth funds CIC Capital Corp of China and GIC Private Ltd. of Singapore.

  • Sept 23- A consortium including Brookfield Infrastructure said it agreed to buy a 90 percent stake in the operator of a natural gas transmission system in Brazil from Petróleo Brasileiro SA for about $5.2 billion. Brookfield-managed entities will hold a controlling interest in the consortium, which also includes China's CIC Capital Corp and Singapore's...

  • RIO DE JANEIRO— The ex-finance minister under Brazilian presidents Dilma Rousseff and Luiz Inacio Lula da Silva was arrested Thursday in the corruption scandal at state-run oil giant Petrobras, but a judge allowed him to be freed while his wife had cancer surgery. Mantega has been accused of asking tycoon Eike Batista for bribes on behalf of the Workers' Party...

  • RIO DE JANEIRO, Sept 21- A U.S. class-action lawsuit over corruption at Brazil's Petrobras will not overshadow the state oil company's $74 billion, five-year plan to slash its crippling debt and refocus on its core business, chief executive officer Pedro Parente said on Wednesday. In an interview in his offices in Rio de Janeiro, Parente also said Petrobras was...

  • SAN FRANCISCO— The popular navigation app Waze is putting a new twist on the phrase "tunnel vision." The beacons will be turned on Wednesday in two Pittsburgh tunnels, Fort Pitt and Liberty, and another in Israel, where Waze was founded before Google bought it in 2013 for $969 million. Plans already are being drawn up to install the Waze beacons in tunnels in Rio de...

  • Brazil's former president Luiz Inacio Lula da Silva will stand trial on corruption charges, a crusading federal judge ruled on Tuesday.

  • UNITED NATIONS, Sept 20- Brazil's new president, Michel Temer, told the United Nations General Assembly on Tuesday that the impeachment of his predecessor Dilma Rousseff was conducted with "absolute respect" for the rule of law and that confidence was returning to the country's battered economy. Temer, who was sworn in after Rousseff was dismissed by Congress on...

  • RIO DE JANEIRO/ SAO PAULO, Sept 20- Brazil's state-led oil company Petrobras on Tuesday cut planned investments by 25 percent in a drive to reduce the largest debt burden among global petroleum producers and revive investor confidence battered by a corruption scandal. Petrobras contributes about 10 percent of the nation's economic output and Brazil's...

  • UNITED NATIONS, Sept 20- Brazil's new president Michel Temer told the United Nations General Assembly on Tuesday that the impeachment of his predecessor Dilma Rousseff was conducted with "absolute respect" for the rule of law and that confidence was returning to the country's battered economy. Her removal from office was carried out within the rules set by...

  • RIO DE JANEIRO/ SAO PAULO, Sept 20- Brazil's state-owned oil company Petrobras on Tuesday cut its planned investment by 25 percent in a drive to reduce the largest debt burden among global petroleum firms and revive investor confidence battered by a corruption scandal. In a securities filing, Petróleo Brasileiro SA, as the company is formally known, pledged up...

  • SAO PAULO, Sept 20- Brazil's state-controlled oil company Petróleo Brasileiro SA said on Tuesday it will exit the biofuels sector, as the heavily indebted company seeks to prioritize investment in crude oil and gas production. The company reaffirmed a $15.1 billion in asset sales for the 2015-2016 period and fetch an additional $19.5 billion through...

  • RIO DE JANEIRO— Brazil's state-run oil company is further slashing its investment plans by one fourth less than a year after similar cuts as oil prices fall and a corruption probe widens. Petrobras says in a statement Tuesday that it will invest $74.1 billion between 2017 and 2021, a 25 percent drop from the $98.4 billion promised between 2015 and 2019.

  • Sept 20- Australia has crimped its forecast for beef exports by nearly 7 percent, with farmers easing off on slaughtering cattle as they look to rebuild herds from 20- year lows following three years of drought. They are also giving rival beef exporting nations like Brazil the chance to ramp up market share in key consumers such as China, where a...