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Latin America Brazil

  • SAO PAULO, Feb 21- Telefonica Brasil SA, the country's biggest telephone carrier, said on Tuesday that fourth-quarter net income was in line with estimates as cost and expense controls helped offset tepid revenue growth. In the first results delivered under Chief Executive Eduardo Navarro, who took the helm from Amos Genish last November, Telefonica said net...

  • SAO PAULO, Feb 21- Paulo Castellari, who was named chief financial officer of Brazilian power utility Cia Energética de Minas Gerais SA only two months ago, is joining Mubadala Development Co PJSC, a source told Reuters on Tuesday. Mubadala opened an office in Rio de Janeiro early last year to spot potential opportunities in Brazil and manage local investments...

  • *Potential buyers to be tapped in India, Japan, Middle East. SINGAPORE/ NEW DELHI/ BEIJING, Feb 21- China's Sinochem is exploring the sale of its 40 percent stake in Brazil's Peregrino offshore oilfield, four people familiar with the matter told Reuters, a deal that could see the state-owned conglomerate walk away from what was once touted as a key overseas asset...

  • RIO DE JANEIRO— Instead of costly and elaborate costumes with glittering sequins, expect more cheap getups featuring fake mustaches, hats and tiaras at this year's Carnival. Revelers are bargain-hunting ahead of Rio de Janeiro's world famous party, which is about to kick off amid a prolonged economic crisis that is hurting pocketbooks and the myriad...

  • BRASILIA, Feb 20- Brazilian Finance Minister Henrique Meirelles said cash-strapped states that sign up for a debt relief program would get three years to repay loans owed to the federal government and private banks as long as they commit to drastic spending curbs. Meirelles told Globo TV's cable news network on Monday a new bill with the deal's terms would be...

  • BRASILIA, Feb 20- Brazilian Finance Minister Henrique Meirelles said cash-strapped states that sign up for a debt relief program would get three years to repay loans owed to the federal government and to private banks as long as they commit to drastic spending curbs. Meirelles told Globo TV's cable news network on Monday that the bill with the terms of the debt...

  • SAO PAULO/ RIO DE JANEIRO, Feb 20- Vale SA plans to become a company with no defined controlling shareholder as soon as possible, in a landmark step aimed at enhancing transparency and equal rights for all shareholders in the world's largest iron ore producer. Controlling shareholders grouped under holding company Valepar SA agreed to stay together for up to 3-1/...

  • SAO PAULO/ RIO DE JANEIRO, Feb 20- Vale SA plans to become a company with no defined controlling shareholder as soon as possible, in a landmark step aimed at enhancing transparency and equal rights for all shareholders in the world's largest iron ore producer. Controlling shareholders grouped under holding company Valepar SA agreed to stay together for up to...

  • SAO PAULO, Feb 20- The Brazilian government has no available money to replenish depleted public stocks of food and will not buy staples such as grains anytime soon, despite an expected record crop this year, Agriculture Minister Blairo Maggi said on Monday.

  • SAO PAULO, Feb 20- Vale SA plans to become a company with no defined controlling shareholder as soon as possible, in a landmark step aimed at enhancing transparency and equal rights for all shareholders in the world's largest iron ore producer. In a Monday statement, Vale said controlling shareholders grouped under holding company Valepar SA agreed to renew an...

  • Traffic analytics firm Inrix has calculated how much time drivers spend stuck in traffic during peak travel times last year in 1,064 cities in 38 countries worldwide. Source: Inrix Inc., 2016 Global Traffic Scorecard. Does not include cities in Japan or China, where Inrix does not collect its own data.

  • DETROIT— When it comes to getting stuck in traffic on the way to and from work, Los Angeles leads the world. That topped second-place Moscow at 91 hours and third-place New York at 89, according to a traffic scorecard compiled by Inrix, a transportation analytics firm. San Francisco was the fourth-most congested city, while Bogota, Colombia, was fifth, Sao Paulo...

  • RIO DE JANEIRO, Feb 19- The largest shareholders of Vale SA have decided to dissolve an investment holding company through which they controlled the world's biggest iron ore producer for 20 years, newspaper O Globo reported on Sunday. The partners in Valepar SA, as the holding company is known, include Bradespar SA, Mitsui& Co., several Brazilian state-run pension...

  • SAO PAULO _ Gol Linhas Aereas Inteligentes SA on Friday reported a loss of $9.2 million in its fourth quarter. On a per-share basis, the Sao Paulo- based company said it had a loss of 26 cents. For the year, the company reported net income of $317.9 million, or $9.15 per share, swinging to a profit in the period.

  • ROSARIO, Argentina, Feb 16- When a boat carrying soy oil destined for India ran aground on the Parana River near Buenos Aires in late January, ships loaded with most of Argentina's grains exports were blocked for hours. Increasing congestion on the Parana, which carries 80 percent of Argentina's grains exports, could hamper President Mauricio Macri's efforts to...

  • SAO PAULO, Feb 16- Banco do Brasil SA expects profit to surge this year, a sign the nation's largest state-controlled bank is reaping the benefits of Chief Executive Officer Paulo Rogêrio Caffarelli's steps to reprice older credits and toughen loan risk standards. The Brasilia- based lender on Thursday unveiled operational targets for this year that...

  • ROSARIO, Argentina, Feb 16- When a boat carrying soy oil destined for India ran aground on the Parana River near Buenos Aires in late January, ships loaded with most of Argentina's grains exports were blocked for hours. Increasing congestion on the Parana, which carries 80 percent of Argentina's grains exports, could hamper President Mauricio Macri's efforts to...

  • SAO PAULO, Feb 16- Banco do Brasil SA expects profit to surge this year, a sign the nation's largest state-controlled bank is reaping the benefits of Chief Executive Officer Paulo Rogêrio Caffarelli's steps to reprice older credits and toughen loan risk standards. The Brasilia- based lender unveiled operational targets for this year on Thursday that...

  • ROSARIO, Argentina, Feb 16- When a boat carrying soy oil destined for India ran aground on the Parana River near Buenos Aires in late January, ships loaded with most of Argentina's grains exports were blocked for hours. Increasing congestion on the Parana, which carries 80 percent of Argentina's grains exports, could hamper President Mauricio Macri's efforts to...

  • BRASILIA, Feb 15- Brazil's Lower House of Congress on Wednesday approved a bill that reopens a program providing an amnesty against criminal prosecution to Brazilians holding undeclared assets abroad if they pay tax and a fine. The bill, which was changed by the lower house, will return to the Senate for final approval. A group of governors met in Brasilia earlier...