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South America

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  • RIO DE JANEIRO, Sept 18- Brazil's state-run oil company, Petroleo Brasileiro SA, will sign a contract to build and lease a floating production ship for its giant Libra offshore project this month, company Chief Executive Maria das Gracas Foster said on Thursday.

  • Argentina approves law for controlling prices Thursday, 18 Sep 2014 | 1:06 PM ET

    BUENOS AIRES, Argentina— Argentina's congress on Thursday approved a law that lets the government intervene in setting prices and profits in an attempt to tackle one of the hemisphere's worst inflation rates.

  • Popular Venezuelan cartoonist fired over drawing Thursday, 18 Sep 2014 | 12:22 PM ET

    CARACAS, Venezuela— A popular cartoonist said she lost her job over her representation of the late Hugo Chavez's iconic signature as a flat-lined heartbeat to dramatize Venezuela's health care crisis. More recently however, as Venezuela's economic crisis has deepened, medical supplies and medicines have disappeared, putting lives at risk.

  • RIO DE JANEIRO, Sept 17- Royal Dutch Shell Plc and Total SA must accept Brazil's state-run Petrobras as a partner in their Gato do Mato offshore oil prospect under new Brazilian law, the country's top oil regulator said Wednesday, a move that could strip Shell of operational control of the resource. She spoke at an oil industry event in Rio de Janeiro.

  • Argentina peso sags to 15 a dollar on black market Wednesday, 17 Sep 2014 | 6:20 PM ET

    BUENOS AIRES, Argentina— The value of Argentina's peso has hit its lowest level ever on the black market. That's far cheaper than the official exchange rate, which closed at 8.4 pesos per dollar.

  • CARACAS, Sept 17- Venezuelan bonds tumbled on Wednesday following a ratings downgrade by Standard& Poor's that cited concerns about inflation, recession and deteriorating capacity to pay. The OPEC nation's benchmark Global 27 bond fell 3.83 percent in price to bid 70.855 with a yield of 14.234.

  • BUENOS AIRES, Sept 16- Argentina called in the United States' top diplomat in the country on Tuesday to express its "deep indignation" over a local newspaper interview in which he made reference the South American country's latest debt default.

  • SAO PAULO, Sept 16- Nextel operator NII Holdings Inc is hanging on to its Brazilian unit even though the welterweight mobile carrier has filed for bankruptcy protection in the United States and sold off other Latin American operations.

  • BELO HORIZONTE/ SAO PAULO, Brazil, Sept 16- The handsome, accomplished grandson of one of Brazil's most beloved politicians, Aecio Neves has been preparing his whole life to be president, friends say. And that, paradoxically, best explains why he's languishing in Brazil's presidential election race.

  • CARACAS, Sept 16- Buses across jungle borders, boats through Caribbean waters and private flights from small airfields have become a new norm for departing Venezuela as a multi-billion dollar pay dispute turns the country into something of a' no-fly' zone.

  • Brazil's indigenous seek out city, end up in slums Tuesday, 16 Sep 2014 | 12:03 AM ET

    RIO DE JANEIRO— They huddle in a tight circle, shaking seed-filled maracas and shuffling in time to a rhythm that has pulsed through their tribes for generations.

  • RIO DE JANEIRO, Sept 15- Investors are losing interest in Brazil's oil industry as the country's energy policies raise costs, reduce efficiency and increase risk, Brazil's oil industry association, the IBP, said on Monday.

  • Venezuela's newest shortage: breast implants Monday, 15 Sep 2014 | 12:03 AM ET

    CARACAS, Venezuela— Venezuela's chronic shortages have begun to encroach on a cultural cornerstone: the boob job. "The women are complaining," said Ramon Zapata, president of the Society of Plastic Surgeons. Only the U.S., Brazil, Mexico and Germany— all with significantly larger populations— saw more procedures.

  • BRASILIA, Sept 13- Brazil federal prosecutors have filed criminal charges against Eike Batista, accusing the fallen tycoon of market manipulation and seeking to freeze up to $1.5 billion reais worth of his financial assets and properties.

  • Problems seen with new Argentine debt payment law Friday, 12 Sep 2014 | 7:38 PM ET

    BUENOS AIRES, Argentina— A law designed to restructure Argentina's debt and sidestep a U.S. court ruling that pushed the government into default could be difficult to apply and worsen the country's frail economy, analysts say.

  • Since entering the race in mid-August, Silva has picked a pro-agriculture congressman as her running mate, met repeatedly with agribusiness leaders and campaigned in the farm belt, eager to make allies in an industry that accounts for a quarter of Brazil's economy. The fuel price controls have gutted Brazil's once-booming sugar cane ethanol industry.

  • ArtRio international art fair opens in Brazil Friday, 12 Sep 2014 | 7:07 AM ET

    RIO DE JANEIRO— ArtRio, the fair that has put Rio de Janeiro on the art world's map, has opened its latest show with exhibits from 99 top galleries from Brazil and beyond.

  • Venezuela extending nighttime border closure Thursday, 11 Sep 2014 | 9:31 PM ET

    CARACAS, Venezuela— Venezuela's president says the nighttime closure of the border with Colombia will continue for three more months as part of the government's campaign to combat smuggling of oil and food.

  • But she needs to route the funds through channels beyond the reach of the U.S. judge who ruled that Argentina must settle a legal fight with a group of New York hedge funds over unpaid debt from a massive 2002 default before servicing its performing debt.

  • Venezuela's oldest newspaper avoids shutdown Thursday, 11 Sep 2014 | 2:55 PM ET

    CARACAS, Venezuela— Venezuela's oldest newspaper says it has staved off closure by reaching a deal with a state company guaranteeing it newsprint for at least two more weeks. El Impulso announced Wednesday that it would stop circulation as of Monday because of falling advertising, mounting inflation and a lack of basic materials.