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Latin America Brazil

  • SAO PAULO— Brazil's meat exports effectively collapsed this week, the agricultural minister said Wednesday, as several countries halted imports from the South American country in the wake of a meat inspection scandal. Brazil is struggling to contain the scandal, in which investigators say that health inspectors were bribed to overlook expired meats and...

  • BRASILIA/ SAO PAULO, March 22- Brazil's antitrust watchdog Cade on Wednesday approved BM&FBovespa SA's takeover of rival Cetip SA Mercados Organizados, and will not require any antitrust measure beyond those the exchange and clearinghouse proposed for themselves. Trading transactions in Brazil are settled through a central counterparty clearinghouse, a...

  • Traditional street market in Tai Po District, New Territories, Hong Kong.

    A meat price war looms in Hong Kong a day after an immediate suspension of all meat imports from Brazil.

  • SAO PAULO, March 21- Brazil's President Michel Temer said on Tuesday a pension reform proposed by his administration would only apply to federal employees and would not address systems managed by state governments or large cities in the South American country. Brazil's center-right government has repeatedly said that reining in pension costs by imposing a...

  • LAPA, Brazil, March 21- Brazil's federal police and agriculture ministry said late Tuesday that sanitary and corruption problems found in the nation's meatpacking industry were isolated incidents, an attempt to tamp down a scandal that has led the Latin American nation's biggest export markets to ban its meats. But Hong Kong, Japan, Canada, Mexico and...

  • A member of staff clears packs of imported meat from Brazil off the shelves of a supermarket in Hong Kong on March 21, 2017.

    Brazilian authorities began scouring meat plants after the alleged sale of rotten products.

  • LAPA, Brazil, March 21- Brazil's federal police and agriculture ministry said late Tuesday that sanitary and corruption problems found in the nation's meatpacking industry were isolated incidents and that the nation's food safety system nationwide was robust. But Hong Kong, Japan, Canada, Mexico and Switzerland all announced partial or all-out bans on...

  • SAO PAULO— Brazil's state-run oil company says it posted a $4.8 billion loss in 2016 mainly because of a reduction in the value of assets it needs to sell to lower a debt estimated at more than $100 billion. Petrobras says in a statement filed Tuesday with the country's Securities Exchange Commission that the year-end result is also due to the $6.8 billion it...

  • RIO DE JANEIRO/ SAO PAULO, March 21- Brazilian state-controlled oil company Petróleo Brasileiro SA missed fourth-quarter profit estimates on Tuesday after revenue came in well below expectations. According to a statement, Petrobras earned net income of 2.510 billion reais last quarter, reversing a loss of 16.458 billion reais in the third quarter.

  • LAPA, Brazil, March 21- Brazilian authorities on Tuesday began scouring meat plants closed after a probe into corruption by health inspectors and the alleged sale of rotten products, as Hong Kong dealt a blow to the world's top beef and poultry exporter with an import ban. China is the largest consumer of Brazilian meat, followed by Hong Kong.

  • The 14 search and seizure warrants were issued by the Supreme Court based on information provided by executives of engineering conglomerate Odebrecht SA in plea bargain deals tied to the graft probe, police said in a statement. The raids took place in the cities of Brasília, Maceió, Recife, Rio de Janeiro and Salvador. Globo News TV said the investigation...

  • RIO DE JANEIRO— A scandal over allegations of bribery in Brazil's meat-packing industry to allow the sale of expired meat deepened as the European Union, China and Chile decided to halt some meat imports from Latin America's largest nation. The developments are a major blow to Brazil, one of the world's largest exporters of meat, which is struggling to emerge...

  • SAO PAULO/ BEIJING, March 20- China and the European Union curtailed meat imports from Brazil on Monday after police, in an anti-corruption probe criticized by the government as alarmist, accused inspectors in the world's biggest exporter of beef and poultry of taking bribes to allow sales of rotten and salmonella-tainted meats. As the scandal deepened,...

  • A general view of a butchers shop, in Sao Paulo, Brazil on March 20, 2017.

    Fallout from a meatpacking industry scandal in Brazil, widened on Monday as China, the EU, South Korea and Chile curtailed meat imports.

  • SAO PAULO/ BEIJING, March 20- Fallout from a meatpacking industry scandal in Brazil, the world's biggest exporter of beef and poultry, widened on Monday as China, the EU, South Korea and Chile curtailed meat imports from the country after inspectors were accused of taking bribes to allow sales of tainted food. Brazil's President Michel Temer has sought to downplay...

  • A worker waits as a shipping container is unloaded from the Hapag-Lloyd Holding AG Prague Express cargo ship onto a truck in Rio de Janeiro, Brazil.

    Just as the U.S. looks to take a more protectionist tilt, Brazil is talking up its push toward free trade.

  • SAO PAULO/ BEIJING, March 20- Fallout from a corruption scandal in Brazil's massive meat industry spread on Monday, with China and South Korea suspending some imports and the European Union mulling action, hitting shares of the world biggest poultry producer BRF SA. China, which accounted for nearly one-third of the Brazilian industry's $13.9 billion in...

  • RIO DE JANEIRO— A scandal over alleged bribery in Brazil's meat-packing industry to allow the sale of expired meat deepened Monday as the European Union, China and Chile decided to halt some meat imports from Latin America's largest nation. The developments represent a major blow to Brazil, one of the world's largest exporters of meat, which is struggling to...

  • SAO PAULO/ BEIJING, March 20- Fallout over a Brazilian meat corruption scandal spread on Monday, with China and South Korea suspending some imports, the European Union mulling action and shares of meatpacking companies BRF SA and JBS SA dropping. China, Brazil's top trade partner, decided to suspend the import of meat products from Brazil as a "precautionary...

  • The BM&F Bovespa Stock Exchange in São Paulo, Brazil

    Latin American stocks are providing heady returns for investors. Here's why the region should continue to see even stronger gains ahead.