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  • Falling oil prices shake up global economies Thursday, 16 Oct 2014 | 3:02 AM ET

    The global price of oil closed at $84.47 per barrel Thursday, down about $31, or 27 percent, from its high point for the year. "The problem is that countries get accustomed to a certain level of income, and then spend," says Edward Chow, a senior fellow at the Center for Strategic and International Studies. Increased production in the U.S., Canada, Iraq and elsewhere made up...

  • BRASILIA/ RIO DE JANEIRO, Oct 16- An iron-ore mining company controlled by Brazilian tycoon Eike Batista filed for bankruptcy on Wednesday, the third time in a year that a unit of the former billionaire's EBX industrial group has sought protection from creditors. MMX Sudeste Mineracao SA, the company that made the petition, holds nearly all the significant...

  • BRASILIA, Oct 15- The main subsidiary of Brazilian tycoon Eike Batista's iron ore mining company MMX Mineracao e Metalicos SA filed a bankruptcy protection petition before a Brazilian court on Wednesday. MMX Sudeste Mineracao SA, the unit that holds MMX's main mining assets, made the request after negotiations with creditors and efforts to seek new investors...

  • NEW YORK, Oct 15- The cost for insuring Venezuelan sovereign debt against default or restructuring surged on Wednesday as global oil prices swooned to a 27- month low before rebounding, illustrating rising investor concerns over the OPEC member nation's ability to service its debt. In addition they would have to pay $500,000 annually, for the duration of the...

  • BUSINESS-NEWS-SCHEDULE AT 1830 GMT / 2:30 PM ET Wednesday, 15 Oct 2014 | 2:38 PM ET

    NEW YORK- Stocks plunge and the dollar slumps after the latest inflation data from the United States and China fan concerns about a global slowdown, driving investors into safe-haven government debt. -USA- ECONOMY/FED, expect by 2000 GMT/ 4 PM ET, by Howard Schneider, 350 words. WASHINGTON- The Federal Reserve is considering the use of its annual test on big banks as...

  • "The current market situation doesn't suit anyone, neither consumers nor producers," Eulogio Del Pino told an oil conference on Venezuela's Margarita Island. Venezuela is calling for an emergency meeting of the Organization of the Petroleum Exporting Countries- prior to its next scheduled Nov. 27 gathering- to halt the slide in oil prices to their lowest level...

  • CARACAS, Oct 15- After three weeks trapped inside their home, Natalie Pereira and her family made a final decision: they must leave Venezuela. Pereira, a 33- year-old dentist now living in Texas, is not alone in making that decision. Having largely but unsuccessfully voted against socialist leader Hugo Chavez during his 14- year presidency, they hoped for a change...

  • BRASILIA, Oct 14- Brazil will maintain plans to raise domestic fuel prices this year, despite a sharp drop in international crude oil prices, to help debt-laden state-run oil company Petrobras, a government source said on Tuesday. The price of gasoline on the international market has slipped below the domestic price of the fuel in Brazil, Credit Suisse said in a...

  • LA PAZ, Oct 13- President Evo Morales on Monday ruled out any major new nationalizations in Bolivia following his re-election victory and said he would be "realistic" as he pursued socialist policies in his third term. Morales, an Aymara Indian and former coca grower who became Bolivia's first indigenous president in 2006, comfortably won the election on Sunday...

  • LA PAZ, Oct 13- Bolivian President Evo Morales, who easily won a third term in a weekend election, said on Monday he would stick to his brand of pragmatic socialism, respecting private property while expanding the state's role in the economy. Morales, a former coca grower who became Bolivia's first indigenous president in 2006, comfortably won Sunday's election.

  • SAO PAULO, Oct 13- Under pressure in Brazil's closest election race in decades, President Dilma Rousseff is centering her campaign around a familiar bogeyman- an 83- year-old former president associated with a more turbulent, elitist era. In numerous TV ads and speeches, Rousseff has warned that a vote for her opponent in the Oct. 26 runoff vote, centrist Senator...

  • MADRID, Oct 13- Spain's Gas Natural said on Monday it was leaving its 2015 payout plans unchanged after announcing a $3.3 billion takeover offer for Chile's biggest electricity distributor Compania General de Electricidad. Analysts at Barclays said in a note that the acquisition seemed expensive and posed questions on Gas Natural's dividend policy.

  • UPDATE 5-Bolivia's Morales claims re-election victory Monday, 13 Oct 2014 | 12:02 AM ET

    *He dedicates win to Cuba's Fidel Castro. LA PAZ, Oct 12- Bolivian President Evo Morales declared a landslide re-election victory on Sunday, hailing it as a triumph for socialist reforms that have cut poverty and vastly expanded the state's role in the booming economy. A prominent member of the bloc of socialist and anti-U.S. leaders in Latin America, Morales...

  • *Gas Natural to launch 4,700 peso per share bid for CGE. MADRID/ SANTIAGO, Oct 12- Spain's Gas Natural on Sunday said it would launch a $3.3 billion takeover offer for Chile's biggest electricity distributor Compania General de Electricidad, in a bid to boost its presence in growing Latin American markets. As part of the deal with those investors, Gas Natural will...

  • SAO PAULO, Oct 12- Business-friendly opposition candidate Aecio Neves received a crucial boost in Brazil's presidential election race on Sunday with the endorsement of popular environmentalist Marina Silva two weeks before his runoff against incumbent Dilma Rousseff. He needs the support of most of Silva's supporters if he is to defeat the leftist...

  • Secretary of State John Kerry told him on Oct. 8 that the world's second biggest greenhouse gas emitter behind China may announce a major injection of money into the Green Climate Fund created by the United Nations. "He says that the U.S. is considering seriously to make a significant announcement even before the Lima conference, probably next month," Gutierrez...

  • WASHINGTON, Oct 10- The United States may make a major contribution to a fund in November that would help poor countries prepare for and combat climate change, said the foreign minister of Peru, the country hosting a crucial round of climate negotiations in December. Secretary of State John Kerry told him on Oct. 8 that the world's second biggest greenhouse gas...

  • WASHINGTON, Oct 9- A fall in mineral prices will prevent Peru's economy from growing much more than 3 percent this year, Peruvian Finance Minister Alonso Segura said on Thursday. A slowdown in China's economy is weighing on demand for Peru's exports of copper and other metals. "I think it might be closer to 3 at this point," he said in an interview with Reuters on the...

  • CARACAS, Oct 9- Venezuela said on Thursday compensation ordered by a World Bank arbitration tribunal in the Exxon Mobil Corp case was within a "reasonable range" once a previous award is deducted from the roughly $1.6 billion new determination.

  • *Venezuela may seek to annul World Bank tribunal's award. CARACAS, Oct 9- A World Bank arbitration tribunal on Thursday ordered Venezuela to pay Exxon Mobil Corp around $1.6 billion to compensate for the 2007 nationalization of its oil projects in the country. "The Tribunal has found that the expropriation was conducted in accordance with due process, that it was...