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  • Below are foreign companies that have appeared in Brazil's largest-ever corruption case named "Operation Car Wash" for a Brasilia gas station where some of the alleged money laundering took place. Petrobras wrote off $2.1 billion in graft losses, though federal police and prosecutors believe the amount siphoned from the company for more than a decade could...

  • TOKYO— Faced with mounting costs from a global recall of air bags, Japanese supplier Takata Corp. has hired the advisory firm Lazard to engineer a restructuring of its finances, likely with the help of some of its biggest customers. As of March 31, Takata had around $530 million in cash and short-term investments. Scott Upham, CEO of Valient Market Research in...

  • TOKYO— Money-losing Japanese air bag maker Takata Corp. hired financial advisory and asset management firm Lazard on Thursday to help tackle financial problems and massive recalls. Authorities in Malaysia have begun an investigation into two more recent deaths. Hideaki Sudo, a lawyer who heads the committee at Takata dealing with the recall fiasco said...

  • SAO PAULO, May 25- Usinas Siderúrgicas de Minas Gerais SA tapped veteran executive Sergio Leite as chief executive officer on Wednesday, as Brazil's largest listed flat steelmaker battles to turn around a business hurt by a recession, cheap imports and rising debt. In a securities filing, the board of Belo Horizonte, Brazil- based Usiminas approved a management...

  • SAO PAULO, May 25- Usinas Siderúrgicas de Minas Gerais SA, Brazil's largest listed flat steelmaker, on Wednesday picked veteran executive Sergio Leite as its chief executive officer. Leite was elected in a board meeting in Belo Horizonte, Brazil, where the company known as Usiminas is based, according to a securities filing. Ronald Seckelmann will remain the...

  • SAO PAULO, May 25- Usinas Siderúrgicas de Minas Gerais SA has picked veteran executive Sergio Leite as its new CEO, a source briefed on the matter said on Wednesday, as the Brazilian flat steelmaker battles to turn around a business hurt by a steep recession, foreign imports and rising debt. The media office of Belo Horizonte- based Usiminas, Brazil's largest...

  • RIO DE JANEIRO/ SAO PAULO, May 24- Brazilian police said on Tuesday they investigated local units of three international steelmakers in a second-straight day of raids probing graft at the country's state-controlled oil producer, Petroleo Brasileiro SA. Police and prosecutors allege that Apolo Tubulars, which is 50 percent owned by United States Steel, and...

  • BRASILIA, May 24- Brazil's interim President Michel Temer said on Tuesday he would seek a constitutional amendment to curb public spending as his government unveiled a raft of austerity measures to reduce a record fiscal deficit and regain investor confidence. Temer, who was vice president under Rousseff, said a vote in Congress on Tuesday on the 2016 fiscal...

  • RIO DE JANEIRO— Brazil's acting president announced austerity measures Tuesday aimed at pulling Latin America's largest economy from its worst crisis in decades, warning that a failure to act will mean "extraordinary hardship" for future generations. Temer said the government would get an early repayment of about $28 billion from Brazil's state-run...

  • Brazil's interim government rocked as key figure steps aside amid accusations he had conspired to obstruct corruption investigation.

  • BRASILIA, May 23- Brazil's interim government was rocked on Monday by the loss of one of its key figures, Planning Minister Romero Juca, who stepped aside amid accusations he had conspired to obstruct the country's biggest-ever corruption investigation. Interim President Michel Temer was counting on Juca, a close confidant and experienced senator, to steer a...

  • BRASILIA, May 23- Brazil's Planning Minister Romero Juca said on Monday he will temporarily step down after a newspaper published recordings of him discussing plans to obstruct the country's biggest-ever corruption investigation, which includes him among its targets. The new scandal also raises fears of further political instability in Brazil less than...

  • RIO DE JANEIRO, May 23- Interim President Michel Temer has given one of the biggest jobs of his administration to the youngest and least known of his cabinet members: Mines and Energy Minister Fernando Coelho Filho, 32.. Trouble in the oil, electricity and mining industries is responsible for nearly a third of last year's 3.8 percent economic decline, deepening...

  • BRASILIA/ RIO DE JANIERO, May 23- Brazil's newly appointed Planning Minister, Romero Juca, on Monday denied a newspaper account that he had sought to stall a wide-ranging corruption probe by aggressively pushing the impeachment process of suspended President Dilma Rousseff. The leak could expose interim President Michel Temer's Cabinet, named only in...

  • RIO DE JANEIRO— Brazil's interim government came under fire Monday as a secret recording emerged of the new planning minister discussing a purported pact to push for President Dilma Rousseff's impeachment to stall a huge corruption probe that has engulfed much of the nation's political class. Rousseff, Brazil's first female president, was suspended from...

  • BRASILIA, May 23- Newly appointed Brazilian Planning Minister Romero Juca on Monday said he would not resign over a newspaper account saying he sought to stall a wide-ranging corruption probe centered on state-controlled oil company Petrobras, a newspaper reported. The Folha de S. Paulo daily published purported excerpts of taped conversations between...

  • SINGAPORE, May 23- Chicago wheat futures slid for a fourth consecutive session on Monday as the market was weighed down by ample global supplies and a strong dollar. Chicago Board of Trade most-active wheat contract lost 0.2 percent to $4.66-3/ 4 a bushel by 0310 GMT, having given up more than 3 percent in four sessions. Soybeans fell 0.7 percent to $10.67-1/ 4 a...

  • BRASILIA, May 20- The Brazilian government budget deficit prior to interest debt payments could reach a staggering 170.5 billion reais in 2016, Finance Minister Henrique Meirelles said on Friday. He said the deficit could be reduced if Congress approves austerity measures to be proposed by the government in coming weeks. Planning Minister Romero Juca, who...

  • *Concerns over Argentina supplies underpin soybean futures Commodity markets pick up after selling on strong dollar. PARIS/ SINGAPORE, May 20- U.S. soybeans rose on Friday, recovering from a dollar-driven sell-off in commodities a day earlier, as concerns over crop losses in Argentina underpinned a market that was heading for its sixth consecutive weekly rise.

  • SINGAPORE, May 20- U.S. soybeans on Friday were on track for a sixth consecutive week of gains as concerns over lower supplies from Argentina continued to buoy prices, although a strong dollar curbed their advance. The Chicago Board of Trade most-active soybean contract has risen almost 17 percent in six weeks. By 0252 GMT on Friday, it was trading down 0.1 percent...