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South America

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  • BUENOS AIRES, June 21- Argentina's Cristina Fernandez will step down as president in December, but her influence may remain strong enough to impede investment-friendly reforms in Congress if her ruling party wins legislative elections in October. Ending speculation she might run for Congress herself, the outgoing two-term president is letting her economy...

  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras. In pre-dawn raids that netted 12 arrests in four states, police also...

  • RIO DE JANEIRO, June 19- Oil spilled from a pipeline linking a main Atlantic Ocean terminal with a refinery near Rio de Janeiro on Friday, Brazil's state-run oil company Petroleo Brasileiro SA said. The narrow coastal region where the spill occurred is in Rio de Janeiro's Costa Verde or " Green Coast"- one of Brazil's most beloved tourist regions and home to one of the...

  • BUENOS AIRES, June 19- Argentina's presidential contender Mauricio Macri on Friday picked a business-friendly senator with middle class appeal as his running mate, reinforcing his center-right challenge to the ruling party's ticket. Senator Gabriela Michetti will join Macri in his campaign against front-runner Daniel Scioli, governor of Buenos Aires...

  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, and accused his family-run conglomerate of spearheading a $2.1 billion bribery scheme at state-run oil firm Petrobras. In pre-dawn raids that netted 12 arrests in four states, police also...

  • BUENOS AIRES, June 19- Argentine Senator Gabriela Michetti will be the running mate of presidential candidate Mauricio Macri, he said on Friday, defining the battle lines ahead of an October election that will pit the business-friendly duo against the current ruling party. Macri, mayor of Buenos Aires, is second in the polls against front-runner Daniel Scioli,...

  • BUENOS AIRES, June 19- Argentine Senator Gabriela Michetti will be the running mate of presidential candidate Mauricio Macri, he said on Friday, defining the battle lines ahead of an October election that will pit the business-friendly duo against the current ruling party. Macri, mayor of Buenos Aires, is second in the polls against front-runner Daniel Scioli,...

  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, local media said, pulling the most high-profile executive into the corruption investigation at state-run oil firm Petrobras. Odebrecht, which has 200,000 workers and a presence in 21 countries,...

  • *Pope voicing concerns from Latin America. The sharp critique of the market-based approach to curbing emissions comes as support for carbon trading is growing, embraced by institutions like the World Bank and United Nations, as well as the heads of many multinational companies and countries like China.. Emissions trading schemes, such as one in place in the...

  • BUENOS AIRES, June 17- Argentine bonds weakened on Wednesday after presidential front-runner Daniel Scioli chose a loyalist of the current government as his running mate for the October election, a choice that may signal a continuation of policies that have deterred investment. Markets had hoped that Buenos Aires Governor Scioli would use his choice of a...

  • BUENOS AIRES, June 17- Argentine bonds weakened on Wednesday after presidential front-runner Daniel Scioli chose a loyalist of the current government as his running mate for the October election, a choice that may signal a continuation of policies that have deterred investment. Markets had hoped that Buenos Aires Governor Scioli would use his choice of a...

  • RIO DE JANEIRO, June 16- Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry. However, executives at Petroleo Brasileiro SA, as Petrobras is formally known, have run into internal and...

  • 'Soy King' of Brazil, Olacyr de Moraes, dies at 84 Tuesday, 16 Jun 2015 | 2:29 PM ET

    SAO PAULO, June 16- Olacyr de Moraes, the one-time "Soy King" of Brazil who pushed the frontier of large-scale agriculture far into the country's interior to become the world's largest soybean grower, died on Tuesday at age 84.. Mato Grosso today is the largest grain producing state in Brazil, which ranks second to the United States in soy. An economic downturn in...

  • BUENOS AIRES, June 15- Argentina said on Monday that annual inflation eased to 15.3 percent in May, although private economists put it much higher and suggest it could speed up later this year due to a splurge in public spending ahead of October's elections. The International Monetary Fund warned earlier this month that Argentina had not taken sufficient steps...

  • PARIS, June 15- Brazil's Embraer SA on Monday announced 50 firm orders at the Paris air show for regional jets worth a total of $2.6 billion, including deliveries in China starting this year. Deliveries will begin this year for seven E190s to Colorful Guizhou, the fifth airline flying Embraer's E-Jets in China. Embraer's first-quarter earnings suffered as the...

  • BOGOTA, June 12- Colombia's economy grew 2.8 percent in the first quarter from a year earlier, the government said on Friday, in line with analysts' expectations but the slowest quarterly growth in two and a half years as lower oil prices put a brake on expansion. Finance Minister Mauricio Cardenas hailed the result as the fastest first-quarter growth among Latin...

  • CARACAS, June 12- Follow the main road, count three traffic lights, and take a left at the third. As with living-room restaurants that flourished in Havana in the 1990 s after the fall of its Soviet benefactor, Caracas is seeing a rise in clandestine dining as inventive restaurateurs seek ways to survive economic crisis, corruption and crime. This is an illegal...

  • Brazil cuts 2015 borrowing from Sweden for Gripen jets Thursday, 11 Jun 2015 | 1:58 PM ET

    BRASILIA, June 11- Brazil's government has drastically reduced the amount of funds it will borrow from Sweden this year to pay for a fighter jet deal with Saab but talks to lower interest rates are ongoing, the defense ministry said on Thursday. A failure to agree on financing terms for the contract could force Brazil and Saab to renegotiate the $5.4 billion sale...

  • BRUSSELS, June 11- Unable to match China's offer of $250 billion in investment in Latin America, the EU sought ways on Thursday to avoid being marginalized in the region, offering new trade deals, visa-free travel and deeper ties. At a two-day summit with Latin American leaders in Brussels, European leaders briefly put aside concerns about Greece, Ukraine and...

  • NEW YORK, June 10- Global agricultural merchant Ecom Agroindustrial Corp and its smaller U.S. rival V&A Commodity Traders Inc have joined forces to create a medium-sized sugar merchant, the latest deal to transform the struggling sweetener market. V&A Trading, which is owned by Seacor Holdings, said on Wednesday the companies have agreed to merge their sugar...