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South America

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  • *Argentina says adding claims increases obligation by $5.2 bln. *Argentina says nation would be put at unacceptable level of risk. May 29- Argentina urged a U.S. judge on Friday to not expand by another $5.4 billion the amount it must pay holders of defaulted debt before it can pay the majority of its creditors who participated in two rounds of sovereign...

  • SAO PAULO, May 29- Panama's Copa Airlines plans to expand its route network out of Latin America despite the challenges it currently faces in Brazil, the region's biggest market, the company's chief executive officer said on Friday. The carrier, a subsidiary of Copa Holdings SA, sees further potential in a business model built on linking small and mid-sized Latin...

  • RIO DE JANEIRO/ BRASILIA, May 29- The Brazilian government is looking beyond fiscal austerity to avoid a recession, Finance Minister Joaquim Levy said on Friday, signaling what could be a new phase in the administration's strategy to pull the economy out of its lull. Picked by President Dilma Rousseff to undo many of the policy missteps threatening Brazil's...

  • SANTIAGO, Chile— Chile's state-run copper giant Codelco says its profit plunged more than 40 percent in the first quarter of 2015 from the previous year because of tumbling prices for the metal. The world's largest copper company said Friday it earned $312 million in the first quarter compared to $539 in the same period a year ago. Codelco's production, however,...

  • BUENOS AIRES, May 29- Argentina's real estate, utility and agricultural sectors all offer a smart bet ahead of a change in government in December, said New York- based Bienville Capital Management, whose new Argentina- focused fund has raised about $250 million. Foreign investors have shied away from Argentina in recent years as President Cristina Fernandez's...

  • Chile customs workers end strike that disrupted exports Thursday, 28 May 2015 | 7:58 PM ET

    SANTIAGO, Chile— Chilean customs workers are returning to work after reaching a deal to end a nationwide strike that halted shipments causing losses for the fruit and salmon industries. Chile's ASOEX fruit exporting association estimated $16 million in losses in fresh fruit due to shipping problems since the beginning of the strike. Chile is the world's top...

  • BOGOTA, May 28- Colombian President Juan Manuel Santos unveiled a package of measures on Thursday aimed at stoking the Andean nation's economy as weaker oil prices and slower investment forced the government to revise down its growth outlook. The so-called PIPE 2.0 program to boost productivity and employment comes after a similar stimulus effort in April...

  • BRASILIA/ RIO DE JANEIRO, May 28- Brazil's central bank risks causing unnecessary damage to a struggling economy if it raises interest rates even more in coming weeks, a growing number of economists and business leaders warn. Brazil's rate hike cycle, the most rigorous among major economies in 2015, is an effort to tamp down inflation, currently running at above 8...

  • BRASILIA, May 27- Brazil's Senate on Wednesday approved an austerity measure that cuts pension benefits as part of President Dilma Rousseff's drive to reduce a widening fiscal deficit and regain investors' confidence in the once-booming economy. On Tuesday, the Senate approved a similarly watered-down version of another measure curbing unemployment...

  • SAO PAULO, May 27- Russia on Wednesday banned the import of meat from 10 Brazilian processing plants starting on June 9, but the world's top beef exporter said the ban will not impact trade. Russia, the second biggest importer of Brazilian beef in 2014 after Hong Kong and a major importer of the country's pork, regularly bans imports from Brazilian meat packers.

  • SAO PAULO, May 27- Brazil is considering an expanded role for private companies in nuclear power generation, as it looks to meet rising electricity demand and provide backup for a hydro system pushed to its limits, Energy Minister Eduardo Braga said on Wednesday. Braga, who calls nuclear power "a necessity but not a priority," wants up to four new reactors to provide...

  • SAO PAULO, May 26- A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe. Federal Judge Sergio Moro said there was ample evidence that the former director, Nestor Cervero, set up a...

  • SAO PAULO, May 26- A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe. Federal Judge Sergio Moro said there was ample evidence to support charges by prosecutors that the former...

  • SAO PAULO, May 26- Brazil will likely experience a moderate El Nino by the end of the year, bringing steady rain to the country's main grain producing regions and sustained drought in the arid north, the national meteorological institute, Inmet, said. El Nino can lead to scorching weather across Asia and east Africa, but heavy rains and floods in parts of South...

  • Salmon, fruit losses due to Chilean customs strike Tuesday, 26 May 2015 | 11:25 AM ET

    "So far we have about $16 million in losses in fresh fruit due to the shipping problems," said ASOEX president Ronald Bown, who added that "the main problem here is not the fruit losses but the impact on the country's image and credibility." Bolivia's government said on Tuesday that the strike is affecting its trade and that more than 2,000 trucks with cargo are stuck...

  • CARACAS, Venezuela— It's still possible to buy a gleaming Ford truck in Venezuela, rent a chic apartment in Caracas, and snag an American Airlines flight to Miami. The latest sign of an emerging dual-currency system came earlier this month when Ford Motor Co. union officials said the company had reached a deal with officials to sell trucks and sports utility...

  • LOS ANGELES— It's a meet-and-greet worthy of an A-list star. "A year ago, I went to New York and tried to get a book publisher to take a meeting with me," said Graham, who represents Franta and other mega-popular YouTubers. Here we are a year later at Barnes& Noble in Los Angeles with a New York Times best-selling author who is a client.

  • Peru suspends civil liberties in region after 4th death Saturday, 23 May 2015 | 12:53 AM ET

    LIMA, Peru— Peru's government said it was suspending civil liberties in a southern coastal valley after a fourth death in violent anti-mining protests against a Mexican-owned copper mining project. One protester was killed and four injured Friday in clashes, which have escalated since farmers mounted resistance two months ago to the $1.4 million project...

  • BRASILIA/ RIO DE JANEIRO, May 22- Brazil will freeze 69.9 billion reais worth of spending on investment, education and health programs this year, limiting outlays in a bid to convince investors that President Dilma Rousseff is committed to saving the nation's investment-grade rating. Still, most analysts believe the freeze will not be enough to meet Brazil's...

  • CARACAS, Venezuela— Venezuelans are dumping their rapidly depreciating currency at an ever quicker pace as the crisis-plagued economy edges dangerously close to an outbreak of hyperinflation. That was down from 300 bolivars per dollar on May 14 and 173 at the start of the year. A Barclay Capital Inc. report issued Friday pointed to government expansion of the...