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  • WASHINGTON— The world's financial leaders see a number of threats facing a global economy still on an uneven road to recovery with U.S. and European officials worrying that Greece will default on its debt. The head of the European Central Bank, Mario Draghi, said it was "urgent" to resolve the current dispute between Greece and its creditors. But French Finance...

  • BRASILIA, April 17- Investment fund Coliseu has reached a preliminary agreement to sell its stake in Brazilian transmission utility Taesa to Colombia's Empresas Publicas de Medellin for 1.527 billion reais, both companies said on Friday. The other controlling shareholder is Brazilian power holding company Cia Energética de Minas Gerais SA, or Cemig, which...

  • SAO PAULO— Brazil's troubled state-owned oil company has said it will reveal its estimate on how much it lost in a sweeping kickback scheme when it releases an audited report of its financial earnings from last year's third and fourth quarters. Part of that money allegedly went to the governing Workers' Party and other parties for political campaigns.

  • *Major court decisions expected this year- Gold Reserve. CARACAS, April 16-- Gold Reserve Inc, a small Canadian miner that lost its crown jewel in a 2009 expropriation, is targeting Venezuelan assets as it seeks to collect a $750 million arbitration award that would put new strains on the cash-strapped government's finances. With higher-profile cases including...

  • A leading candidate in Argentina would overhaul economy Thursday, 16 Apr 2015 | 11:42 AM ET

    BUENOS AIRES, Argentina— The man who could be Argentina's next president wants to put an end to tight government currency controls, make peace with the nation's creditors and improve severely frayed ties to the United States. The right-leaning Buenos Aires mayor leads many polls ahead of the October elections. His popularity is buoyed by economic frustration...

  • Stock of online marketplace Etsy surges in trading debut Thursday, 16 Apr 2015 | 11:18 AM ET

    Shares of arts and crafts retailer Etsy surged in opening trading on the Nasdaq Thursday. After pricing at $16 late Wednesday the stock opened at nearly double that level, and hit a high of $35.73 in morning trading. Founded in 2005, Brooklyn- based Etsy sells anything from a $110,000 antique desk from the 1800 s to a $20 handmade antler pendant and everything in...

  • Tecnoglass posts 4Q profit Thursday, 16 Apr 2015 | 6:27 AM ET

    BOGOTA, Colombia _ Tecnoglass Inc. on Wednesday reported net income of $13.3 million in its fourth quarter. Tecnoglass expects full-year revenue of $240 million. Tecnoglass shares have fallen 12 percent since the beginning of the year.

  • And Venezuela's oil minister Asdrubal Chavez met in Caracas with the local ambassadors of eight OPEC members plus Indonesia on Wednesday, the ministry said. Nearly four months of sub- $60 a barrel crude oil prices is weighing heavily on cash-strapped producers such as Venezuela and Russia, who failed to coax OPEC into cutting output last November.

  • CARACAS, April 15- Venezuela said ambassadors of various OPEC countries, including Saudi Arabia, were meeting the country's oil minister Asdrubal Chavez in Caracas on Wednesday. "Ambassadors of Saudi Arabia, Algeria, Ecuador, Iraq, Kuwait, Nigeria, Qatar, Iran and Indonesia are present," the Oil Ministry said in a tweet. The Oil Ministry's twitter feed said the group...

  • CURITIBA, Brazil, April 15- Brazilian police on Wednesday arrested the treasurer of the ruling Workers' Party Joao Vaccari, moving an investigation of rampant corruption at state-run oil company Petrobras closer to President Dilma Rousseff's inner circle. Vaccari's arrest could bring the investigation closer to the president if the money allegedly...

  • The decision is the latest twist in a struggle for control between the shareholders Luxembourg- based Ternium SA and Japan's Nippon Steel& Sumitomo Metal Corp.. Ternium said on Wednesday it would appeal the CVM decision, while Nippon said it needed to fully understand the details before making a decision. The CVM decision relates to last October, when Ternium...

  • Governing party treasurer arrested in Brazil kickback case Wednesday, 15 Apr 2015 | 10:03 AM ET

    RIO DE JANEIRO— Federal police on Wednesday detained the treasurer of Brazil's governing Workers' Party in the wide-ranging investigation into corruption at state-run oil giant Petrobras, and the party said later he had asked to resign the post. Joao Vaccari Neto was detained in Sao Paulo as he was heading out for an early morning jog, police and judicial...

  • CURITIBA, Brazil, April 15- Brazilian police on Wednesday arrested the treasurer of the ruling Workers' Party Joao Vaccari, moving an investigation of graft and political kickbacks at state-run oil company Petrobras closer to President Dilma Rousseff's inner circle. He said all campaign donations to the Workers' Party from the construction and engineering...

  • CARACAS, April 14- Venezuela's state oil company PDVSA has offered to buy oil and gas producer Harvest Natural Resources Inc's stake in the Petrodelta joint venture, a source close to PDVSA said on Tuesday. The company has twice been poised to sell its minority stake but said the OPEC country blocked the transaction. In 2013 a deal with Indonesia's oil company...

  • SANTIAGO DE CUBA, Cuba— Two and a half years after Hurricane Sandy trashed Cuba's second-largest city, 35- year-old Melba Martinez is still out of work and struggling to feed two children on her state ration book and a daily hustle for extra rice or cooking oil. "How are you going to buy a pair of shoes that cost $20? Down the hill in the pastel-tinted colonial center of...

  • LANUS, Argentina, April 14- Daniel Scioli, the front-running candidate for the ruling party ticket in Argentina's presidential election, has a new buzz word: "gradualismo," or "gradual change." Scioli, a 58- year-old former power boat champion who lost his right arm in a crash in 1989, is governor of Argentina's most populous province, Buenos Aires.

  • LONDON, April 14- It's that time of year when the copper industry gathers for CESCO Week in Chile to chew the collective fat on what the future holds. In Chile this week the focus will be firmly on supply, inevitably given the structural problems facing operators in what is still the world's largest copper producing nation. But in truth the present confusion is all...

  • SAO PAULO, April 13- Petrobras hopes to release third-quarter and full-year 2014 financial results after a board meeting on April 22, after more than five months of delays in the wake of a corruption scandal that has spread to the highest levels of government. The excess funds might have been funneled to political parties, including President Dilma Rousseff's...

  • TOKYO/ NEW DELHI, April 13- China could have outsized influence over a new Beijing- backed international development bank under a proposed shareholding structure likely to be discussed at a meeting of member nations in Washington this week, sources say. China has proposed that Asian nations own three-quarters of the Asian Infrastructure Investment Bank, a...

  • ITU, Brazil, April 13- The Brazilian iPhone was meant to mark a new era. Foxconn has created only a small fraction of the 100,000 jobs that the government projected, and most of the work is in low-skill assembly. That Brazil has so little to show for the Foxconn investment underscores the shortcomings of its industrial policy, defined by costly tax incentives that...