Latin America Brazil

  • JAKARTA, Oct 11- Indonesia's central bank held its benchmark rate at a record low 5.75 percent for an eighth consecutive month, as forecast, and said the economy is still growing well though it conceded domestic demand was not as high as expected.

  • SEOUL, Oct 11- South Korea's central bank cut interest rates as well as growth forecasts on Thursday, as expected, and its projection of an economic rebound next year affirmed a market expectation it was not likely to ease policy again soon. pared losses as the Bank of Korea's views eased concerns about the local economy slipping further down.

  • Oct 11- The U.S. Department of Agriculture has raised its 2012/ 13 global ending stock forecast for cotton to record highs for a third consecutive month, sending prices down and reinforcing concerns about weakening demand from China, the world's largest textile market.

  • NEW YORK-- The McGraw-Hill Companies Inc. said Thursday that its Platts division is buying Swiss analytics firm Kingsman SA for an undisclosed price. Founded in 1990 and based in Lausanne, Switzerland, Kingsman employs analysts, researchers and report writers in several markets, including London, Montreal, New Delhi and Sao Paulo.

  • *S&P downgrades Spain; Brazil and South Korea cut rates. TOKYO, Oct 11- The IMF prodded the world's rich countries for swifter action on Thursday as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.

  • *Bank of Korea seen lowering growth forecasts on Thursday. SEOUL, Oct 11- South Korea's central bank cut interest rates for the second time in four months on Thursday to bolster the economy through a global slowdown, warning of continuing risks to growth and recovery likely to be slow.

  • *Bank of Korea seen lowering growth forecasts on Thursday. SEOUL, Oct 11- South Korea's central bank cut interest rates for the second time in four months on Thursday, as expected, to nurture Asia's fourth-largest economy through a global slowdown now dragging on for an extended period.

  • Brazil to Slash Rates

    Tony Volpon, Strategist for Latin America, Nomura says that Brazil will need to cut interest rates this week.

  • SAO PAULO-- About 100 Indians, fishermen and other activists opposed to a huge hydroelectric dam being built on the Xingu river in the heart of Brazil's Amazon rainforest are occupying one of its construction sites. The Norte Energia consortium that is building the Belo Monte dam says the protesters occupied the site Tuesday night.

  • Oct 10- Fitch Ratings has affirmed Ukraine- based poultry and agricultural producer MHP S.A.' s Long-term foreign currency Issuer Default Rating at' B' with a Stable Outlook. The rating is capped by Ukraine's Country Ceiling of' B'.

  • BRUSSELS, Oct 10- The following are mergers under review by the European Commission and a brief guide to the EU merger process:. --Private equity firms Carlyle and BC Partners to acquire U.S. industrial pumps maker Hamilton Sundstrand Industrial which is owned by United Technologies Corp. OCT 22-- OAO VTB Bank and Corporate Commercial Bank.

  • RIO DE JANEIRO-- The one-time right-hand-man of popular former Brazilian President Luiz Inacio Lula da Silva was found guilty on a corruption charge by a majority of 10 Supreme Court justices Tuesday, who ruled he orchestrated a widespread cash-for-votes scheme that came to light seven years ago.

  • UnitedHealth's plan to buy a majority stake in a Brazilian health benefits and care provider makes sense for the U.S. health insurer, says a Goldman Sachs analyst, but the deal doesn't resolve uncertainty about the health care overhaul that is keeping investors away from the stock.

  • The PIMCO Total Return Fund, the world's largest mutual fund with about $278 billion in assets, attracted roughly $6.25 billion in new money in the third quarter, according to Morningstar. Meanwhile, the DoubleLine Total Return Bond Fund was second with $4.45 billion in assets.

  • PARIS, Oct 10- European stocks are set to fall on Wednesday, losing ground for the third straight session on mounting worries over corporate results as the earnings season gets under way. ,for Germany's DAX and for France's CAC were down 0.1-0.4 percent. Late on Tuesday, U.S. aluminium major Alcoa.

  • Europe is gripped by a debt crisis and stalled growth. A budget standoff in the United States is set to trigger tax increases and spending cuts and perhaps a recession. And it's warning that even its dimmer outlook might prove too optimistic if Europe and the United States fail to resolve their crises.

  • There were large blocks of empty seats at some stadiums at the 2010 World Cup in South Africa and this year's European Championship in Poland and Ukraine. At the Leaders in Football conference on Wednesday, FIFA marketing director Thierry Weil said sponsors would have to name the people using tickets two or three days before matches in Brazil.

  • *Asian shares fell on Wednesday, led by losses in technology and materials stocks after brokerage downgrades for top chip maker Intel Corp. *Oil prices jumped on Tuesday, snapping two sessions of losses, as escalating turmoil on the border of Turkey and Syria heightened concerns of a supply disruption in a tense Middle East.

  • COLUMBUS, Ind.-- Indiana- based engine maker Cummins Inc. plans to cut as many as 1,500 jobs by the end of the year. The Columbus- based company has factories in Indiana, Minnesota, New Mexico and North Carolina, and several overseas.

  • STUTTGART, Ark.-- The nation's top agricultural negotiator said Tuesday that he expects farm exports to be down between $1 billion and $2 billion this year because of the drought. He added that he doesn't believe a one-year dip would lead to a lasting slowdown in sales to Asia, where China is a major buyer of U.S. dairy and meat, or elsewhere.