South America


  • RIO DE JANEIRO, Oct 1- In March 2003, three months into her tenure as Brazil's environment minister, Marina Silva gathered a half-dozen aides at the modernist ministry building in Brasilia, the capital. She told them the new government of President Luiz Inácio Lula da Silva was about to embark on a pharaonic infrastructure project for Brazil's arid Northeast.

  • BRASILIA/ WASHINGTON, Sept 30- The United States will pay Brazilian cotton producers $300 million to settle a decade-old dispute over cotton subsidies, two officials familiar with the settlement said on Tuesday, the first concrete step to repair ties hurt by an espionage scandal.

  • WASHINGTON/ BRASILIA, Sept 30- The United States will pay Brazilian cotton producers $300 million in compensation to end a dispute over cotton subsidies enjoyed by U.S. growers, two officials familiar with the settlement said on Tuesday.

  • RIO DE JANEIRO, Sept 30- Anglo American Plc said on Tuesday that it obtained a Brazilian license to start operating its long-delayed, $14 billion Minas-Rio iron ore mining project, which is expected to enable its first shipment of ore by year-end.

  • CARACAS, Sept 30- Venezuela has kept its economic growth figures under wraps this year but empty store shelves, closed factory gates and idled construction projects tell their own story- the economy is contracting and some sectors are in deep trouble. Fedecamaras estimates the OPEC nation's economy has contracted 4 percent so far this year.

  • LIMA, Sept 30- Maple Energy Plc dropped 30.53 percent on Tuesday in Lima following its announcement that talks about possibly selling the company ended without a deal.

  • BUENOS AIRES, Sept 30- Argentina deposited a $161 million bond interest payment with a newly appointed local trustee on Tuesday, the Economy Ministry said, defying a U.S. judge who held it in contempt a day earlier for taking illegal steps to meet its debt obligations.

  • Argentina slams US judge after contempt decision Tuesday, 30 Sep 2014 | 12:13 PM ET

    Argentina deposited a $161 million bond interest payment with a newly appointed local trustee on Tuesday in defiance of U.S. District Judge Thomas P. Griesa, who found Argentina in contempt on Monday.

  • BRASILIA, Sept 30- The United States and Brazil are close to settling a decade-old trade dispute over cotton subsidies, three Brazilian sources close to the talks told Reuters, in what would be the first concrete step to repair ties hurt by an espionage scandal.

  • SAO PAULO, Sept 29- Bank workers in Brazil plan to begin a nationwide strike on Tuesday for an indefinite period after talks with commercial banks collapsed over pay rise demands for this and next year. Unions from about 50 different regions encompassing Brazil's largest metropolitan areas will join the strike, the statement said.

  • NEW YORK, Sept 29- In a rare move, a U.S. judge held Argentina in contempt on Monday, saying the country is taking "illegal" steps to evade his orders in a longstanding dispute with hedge funds over defaulted debt. But Griesa issued a clear warning that the country must stop efforts to get around his rulings by making payments in Argentina.

  • SAO PAULO, Sept 29- Brazilian financial markets took a beating on Monday after polls showed President Dilma Rousseff pulling past challenger Marina Silva ahead of Sunday's election. Many traders see Brazil's risk premium declining under a different administration, which would help attract foreign investment and support the real.

  • NEW YORK, Sept 29- Argentina is in contempt of court, a U.S. judge ruled on Monday, the latest step in a years-old case brought by the U.S. hedge funds over defaulted debt.

  • BUSINESS-NEWS-SCHEDULE AT 1930 GMT / 3:30 p.m. ET Monday, 29 Sep 2014 | 3:30 PM ET

    FRANKFURT/ NEW YORK- Officials from Pimco and its German parent Allianz scramble to contain the fallout from star bond manager Bill Gross' stunning exit last week, and money continues to leave the firm, giving a huge boost to rival bond houses like DoubleLine, which saw record inflows. Canada's Encana to buy Athlon Energy for $5.93 bln.

  • NEW YORK/ BUENOS AIRES, Sept 29- Argentina said on Monday that any sanctions for contempt of court, levelled against it for refusing to pay U.S. hedge funds suing over defaulted debt, would be illegal under international law.

  • Sept 27- U.S. cleaning products maker Clorox Co said the Venezuelan government's takeover of two of its plants after the company pulled out of the country raised "grave concerns" about the safety of workers and surrounding communities.

  • Clorox: Venezuelan seizure of plant risks safety Saturday, 27 Sep 2014 | 10:08 AM ET

    CARACAS, Venezuela— U.S.-based Clorox Co. warns that the Venezuelan government's decision to seize the company's shuttered facilities near Caracas may pose safety risks for workers and nearby residents.

  • Venezuela takes over closed Clorox factory Friday, 26 Sep 2014 | 9:03 PM ET

    "They left Venezuela and we couldn't even talk to anyone except with a representative in Argentina on a video conference." Clorox said this week that it was ending operations in Venezuela and looking to sell its local affiliate after struggling for years with rigid price and currency controls and galloping inflation that made it impossible to turn a profit.

  • Chile enacts higher taxes to fund schools Friday, 26 Sep 2014 | 1:47 PM ET

    SANTIAGO, Chile— Chile is enacting measures that raise taxes on large businesses to help finance improvements in education, health and other services. President Michelle Bachelet says the law that goes into effect on Oct. 1 will help reduce inequality in the South American nation.

  • SAO PAULO, Sept 26- Brazil's President Dilma Rousseff has regained the momentum in an election race that looks too close to call just a week before the first round of voting, using a wave of attacks to halt a surge by challenger Marina Silva.