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  • Petrobras fuel tank explodes in Brazil, killing two Wednesday, 26 Aug 2015 | 4:42 PM ET

    RIO DE JANEIRO, Aug 26- A heating unit at a Petrobras depot in Brazil used to treat fuel for ocean-going ships exploded on Wednesday, killing two workers, the state-run oil company said in a statement. The blast and resulting fire broke out about 10 a.m. while workers were doing planned maintenance on the heating unit, said the press office of BR Distribuidora SA, the...

  • BRASILIA, Aug 26- Brazil's government is preparing a deal to allow construction companies implicated in a massive corruption scandal to do business again with state-run oil company Petrobras in exchange for the payment of fines and damages, a government official briefed on the matter said on Wednesday. Late last year, Petroleo Brasileiro froze payments to...

  • Rio de Janeiro city council votes to ban Uber Tuesday, 25 Aug 2015 | 6:44 PM ET

    RIO DE JANEIRO, Aug 25- Rio de Janeiro on Tuesday became the latest city to move against Uber as its city council voted to ban unregulated ride-sharing services. In a statement, San Francisco- based Uber Technologies Inc said it would continue to operate normally in the city and that the vote was one against technology and the right of citizens to choose how they get...

  • BRASILIA, Aug 24- Brazil will sharply pare back the number of government ministries after years of expansion, the administration said on Monday, in a move to show wary markets President Dilma Rousseff's commitment to an unpopular austerity plan. The reduction of the cabinet posts could further complicate Rousseff's relations with political parties of her...

  • BRASILIA, Aug 24- Brazil's government announced on Monday it will slash the number of ministries and reduce its spending, in an effort to show commitment to austerity that could be politically costly for President Dilma Rousseff. Brazil's ruling Workers' Party has been criticized for bloating the size of government. The distribution of ministry jobs has been...

  • TORONTO/ VANCOUVER/ SYDNEY, Aug XX- Many of the world's junior miners are laying down their picks and shovels to start new ventures ranging from egg exporting to medical marijuana farming, as they as try to survive a crash in metals prices by shifting away from exploration. Canada made it legal to buy marijuana from licensed producers with a doctor's prescription...

  • Brazil has 2 kinds of problems, and both are bad Friday, 21 Aug 2015 | 3:03 PM ET
    Demonstrators attend a protest against Brazil's President Dilma Rousseff, part of nationwide protests calling for her impeachment, in Sao Paulo, Brazil, August 16, 2015.

    Brazil is struggling with the confluence of two separate, but interrelated crises: one economic, and the other political.

  • SAO PAULO— The speaker of Brazil's lower house of congress on Friday strongly denied newly filed charges of corruption and said he won't resign from office. Attorney General Rodrigo Janot filed the charges Thursday against Chamber of Deputies speaker Eduardo Cunha and former President Fernando Collor, who is now a senator. In a meeting with union leaders in...

  • BRASILIA, Aug 17- McDonald's Corp, the world's biggest fast-food chain, was accused of mistreating its employees and dodging taxes on Thursday during a Senate hearing in Brazil, where politicians, union leaders and workers from five continents voiced allegations. Arcos Dorados Holdings Inc, the world's largest McDonald's franchisee and its main operator in...

  • Flamboyant Trump evolved into cautious businessman Thursday, 20 Aug 2015 | 11:42 AM ET

    NEW YORK— Donald Trump sells himself as a bold empire builder, the kind of businessman who could force through big changes in Washington as president. But that's not his money, "says Don Peebles, a real estate developer who oversees a $5 billion real estate portfolio. In the past decade, Trump has struck deals to put his name on at least a dozen properties built and...

  • ADDIS ABABA, Aug 20- Ethiopian Airlines is powering ahead with a plan to expand its fleet and route network after exceeding its profit target for the 2014/ 15 year, its chief executive said in an interview. Ethiopian Airlines flew six million passengers in the prior year, up from 5.22 million in 2012/ 13.. Ethiopian Airlines plans to increase revenue to $10 billion by...

  • DIARY- Emerging Markets Economic Events to Sept 2 Wednesday, 19 Aug 2015 | 8:02 PM ET

    JAKARTA, Indonesia- Federal Reserve Bank of San Francisco releases text of speech of President John Williams before the Bank Indonesia-BIS Research Conference in Jakarta- 0645 GMT. SEOUL, South Korea- Federal Reserve Bank of Minneapolis President Narayana Kocherlakota speaks before the "Macroeconomic Policy and Price Measurement Issues in a Low Inflation...

  • SAO PAULO, Aug 19- Brazil's state-run oil firm Petroleo Brasileiro SA said in a securities filing on Wednesday it was not in negotiation to pay a fine to settle criminal and civil investigations in the United States. The law firms report to Ellen Gracie Northfleet, former chief justice of Brazil's Supreme Court and Andreas Pohlmann. Gibson, Dunn& Crutcher LLP said...

  • SAO PAULO, Aug 19- Banco do Brasil SA on Wednesday raised its limits on loan exposure to the nation's largest firms, a sign that President Dilma Rousseff is again using state-controlled lenders to help stem the fallout from a deep recession. Banco do Brasil shares fell almost 5 percent in São Paulo, their biggest drop in a month, amid investor concerns that the...

  • SAO PAULO, Aug 18- Brazil's OAS Investimentos SA, whose parent company is under creditor protection, has so far received five proposals for a stake in infrastructure company Invepar, with bidders also looking to buy its environment services and oil drilling units, executives said on Tuesday. In June, Reuters reported that Canadian asset manager Brookfield...

  • SAO PAULO— A trade union federation in Brazil says it has asked the Public Prosecutor's Office to investigate the McDonald's franchise holder in Latin America's largest country for allegedly engaging in a series of irregular activities. General Workers Union spokesman Mauro Ramos said on Tuesday that franchisee Arcos Dourados should be investigated for...

  • Warning signs: Venezuela, Brazil & Russia Tuesday, 18 Aug 2015 | 2:05 PM ET
    Warning signs: Venezuela, Brazil & Russia

    Discussing global growth problems for Venezuela, Brazil and Russia, with Kathryn Rooney Vera, Bulltick Capital Markets, and Tim Seymour, Triogem Asset Management.

  • RIO DE JANEIRO/ NEW YORK, Aug 18- Brazil's Petrobras may need to pay record penalties of $1.6 billion or more to settle U.S. criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company's legal advisors told Reuters. State-run Petroleo Brasileiro SA, as the company is formally known, expects to face the largest penalties...

  • SAO PAULO, August 17- A Brazilian judge sentenced Nestor Cervero, former international chief of state-run oil firm Petrobras, to just over 12 years in prison on Monday for corruption and money laundering related to a bribe allegedly paid to the speaker of Brazil's lower house of Congress. Cervero and two other defendants are accused of organizing bribes from...

  • How China's yuan move hurts emerging markets Monday, 17 Aug 2015 | 1:52 PM ET
    A vendor holds Chinese Yuan notes at a market in Beijing.

    China's move to devalue the yuan will impact emerging markets in several ways and investors should beware, says UBS's Jorge Mariscal.