Argentina could be back in the economic doldrums if it defaults on Wednesday, a key player in its 2010 debt restructuring told CNBC.» Read More
Brazil suffered a recession in the first half of the year as investment plunged and the country's hosting of the World Cup suffocated economic activity.
SAO PAULO, Aug 29- Opposition presidential candidate Marina Silva said on Friday that Brazil's recession is very worrying and her government would work to restore the credibility of the country's economic policies to recover investment and growth if elected. It also called for an overhaul of Brazil's complex and onerous tax system.
RIO DE JANEIRO— Brazil's economy, once an emerging-market darling, fell into recession, according to government data released Friday, as millions of new middle class citizens tightened their belts and further dampened a credit-driven spending spree.
SAO PAULO, Aug 29- Brazil suffered a recession in the first half of the year as investment plunged and the country's hosting of the World Cup suffocated economic activity, a major blow to President Dilma Rousseff's already diminishing hopes for reelection in October.
SAO PAULO— The "largest deforestation gang" active in Brazil's Amazon rain forest has been dismantled, authorities said Thursday. According to the statement, the group allegedly is responsible for the destruction of 38,000 acres of rain forest, an area equivalent to the size of the British Virgin Islands.
BUENOS AIRES, Argentina— Labor groups opposed to Argentine President Cristina Fernandez staged their second general strike of the year Thursday, disrupting life in the capital and other parts of the country as many people stayed away from work and union demonstrators blocked streets to call for higher wages and lower taxes.
QUITO, Ecuador— Ecuador is planning to create the world's first government-issued digital currency, which some analysts believe could be a first step toward abandoning the country's existing currency, the U.S. dollar, which the government cannot control.
The subpoenas are aimed at a US $4.7 bn facility provided by China Development Bank, ICBC and BOC to finance the construction of two hydroelectric dams in Patagonia and a US $2.1 bn loan from China Development Bank and ICBC to finance the Belgrano Cargas railway project.
BRASILIA, Aug 28- Brazil's finance minister waded into the country's presidential campaign on Thursday, warning that an opposition victory in the October election could push the economy into recession and undo a decade of social gains under the ruling Workers' Party.
MONTEVIDEO, Uruguay— Uruguay's new market for legalized marijuana has attracted at least 20 companies bidding for the right to supply pot to the country's pharmacies, a government official said Thursday.
BUENOS AIRES, Argentina— State-run Argentine oil company YPF SA said Thursday it has reached a deal with Malaysia's Petronas to develop what is believed to be massive deposits of shale oil and gas in the vast Vaca Muerta formation in Patagonia.
*Telefonica wins out with higher bid than Telecom Italia. PARIS, Aug 28- French media company Vivendi picked Telefonica for exclusive talks over the sale of its Brazilian broadband unit GVT, spurning a rival bid from Telecom Italia. Vivendi's decision deals a blow to Telecom Italia.
TOKYO, Aug 28- Japan Airlines Co said on Thursday it has agreed to buy 32 Mitsubishi Regional Jets worth around $1.5 billion, giving Japan's first domestically manufactured commercial passenger plane in half a century a needed sales boost.
MONTEVIDEO, Uruguay— People in Uruguay who want to grow their own marijuana at home were able to register to do so Wednesday as the government launched the latest phase in its first-of-its-kind legalization program.
RIO DE JANEIRO/ PARIS, Aug 27- Brazil's Grupo Oi SA unveiled plans on Wednesday to take over Telecom Italia's local mobile unit, in a move sources said was aimed at breaking up the country's second-biggest wireless carrier and upstaging merger bids by foreign rivals.
RIO DE JANEIRO, Aug 27- Investors are warming up to a possible victory by Marina Silva in Brazil's presidential election as the popular environmentalist emerges as their best shot at avoiding four more years of a government they strongly dislike.
BRASILIA, Aug 27- Environmentalist Marina Silva would handily beat President Dilma Rousseff if Brazil's October election goes to a runoff, a poll showed on Wednesday, an outcome that seemed unimaginable just a few weeks ago and one that would put an end to 12 years of Workers' Party rule.
BUENOS AIRES, Argentina— A labor organization opposed to Argentine President Cristina Fernandez caused traffic jams and disrupted life for many in the capital Wednesday at the start of a 36- hour strike.
BOGOTA, Colombia— Venezuela's socialist government is sounding the alarm about growing waistlines in a country where record food shortages are making it harder to put healthy meals on the table, prompting many people to fill up on empty calories.
BRASILIA, Aug 26- A surging Marina Silva has narrowed President Dilma Rousseff's lead in Brazil's presidential race, a new opinion poll showed on Tuesday, paving the way for a likely second-round runoff in which the popular environmentalist looks well-positioned to win.