South America




  • UPDATE 1-Starbucks opens in Colombia, home of Juan Valdez Wednesday, 16 Jul 2014 | 12:53 PM ET

    July 16- Starbucks Corp opened its first shop in Colombia on Wednesday, 43 years after the world's biggest coffee chain first started buying beans from the country famous for its premium arabica coffee named after fictional coffee farmer Juan Valdez.

  • BUENOS AIRES, July 16- Argentina is running out of time to broker a deal with "holdout" bondholder investors and stave off another painful debt default, lobbyists acting for the New York hedge funds suing the country said in a media ad on Wednesday.

  • Starbucks opens in Colombia, home of Juan Valdez Wednesday, 16 Jul 2014 | 11:03 AM ET

    July 16- Starbucks Corp opened its first shop in Colombia on Wednesday, 43 years after the world's biggest coffee chain first starting buying beans from the country known for its premium arabica coffee. It and all other Starbucks stores in Colombia will be the company's first to serve only locally sourced coffee.

  • Brazil police suspend 4 officers in Rio de Janeiro Wednesday, 16 Jul 2014 | 10:07 AM ET

    SAO PAULO— Four police officers have been suspended after being caught on video as they beat journalists during an anti-World Cup protest, the Rio de Janeiro police department said Wednesday.

  • Make room Juan Valdez: Starbucks opens in Colombia Wednesday, 16 Jul 2014 | 8:18 AM ET

    On Wednesday, Starbucks made its much-anticipated debut in the country synonymous with coffee after decades of roasting Colombia's Arabica beans for billions of java lovers the world over. But will Colombians answer Starbucks' siren call and ditch a popular local chain bearing the bushy-whiskered coffee farmer's name?

  • NEW YORK, July 16- KKR& Co LP's co-founders Henry Kravis and George Roberts have indicated they intend to stay at the buyout firm for at least five more years, but two men- Scott Nuttall and Joseph Bae- are emerging as front-runners to eventually succeed them.

  • Rio de Janeiro- based Oi and Portugal Telecom agreed to keep the terms of their merger unaltered for now, the paper said, adding that Portugal Telecom will continue to have a 37 percent stake in CorpCo, as the company resulting from the merger is known. Efforts to reach Lisbon- based Portugal Telecom were unsuccessful.

  • BRASILIA, July 15- The five BRICS countries have not discussed coordinated forex intervention in global markets, but it is an idea "worth thinking about," India's central bank deputy governor Urjit Patel told Reuters on Tuesday.

  • Mexican bread maker Grupo Bimbo to buy Ecuador's Supan Tuesday, 15 Jul 2014 | 6:12 PM ET

    MEXICO CITY, July 15- Mexico's Grupo Bimbo, one of the world's largest bread makers, said on Tuesday it had agreed to buy Ecuadorian peer Supan, as it seeks to widen its presence in South America. Grupo Bimbo did not mention the cost of the acquisition in its statement announcing the deal.

  • Shareholders of Rio de Janeiro- based Oi want to push Portugal Telecom to agree to have a smaller stake in CorpCo, as the company resulting from the merger is known, depending on the outcome of the debt negotiations later on Tuesday, said the source, who requested anonymity because of the sensitivity of the issue. The family owns about 10 percent of Portugal Telecom.

  • FORTALEZA, Brazil, July 15- In two years of tough negotiations to create the new BRICS development bank, the main stumbling block was not a lack of resources or commitment, but fellow partner China.

  • FORTALEZA, Brazil, July 15- The new development bank of the group of BRICS countries will be headquartered in Shanghai, China, with the presidency initially held by India, Brazilian president Dilma Rousseff said on Tuesday.

  • The BRICS group consists of Brazil, Russia, India, China and South Africa.

  • The impasse reflected the difficulties that Brazil, Russia, India, China and South Africa face in working together to build an alternative to Western-run multilateral institutions that have shaped world finances since the end of World War Two.

  • UPS plans 9 new facilities, more routes in Brazil Tuesday, 15 Jul 2014 | 12:04 PM ET

    ATLANTA— UPS is opening nine new facilities in Brazil to expand its delivery network to more than 200 Brazilian cities. The growth of small and medium-size businesses in Brazil, an expanding middle class and more activity in online commerce drove the decision invest more in the country, the company said Tuesday.

  • BRICS nations agree to create own development bank Tuesday, 15 Jul 2014 | 10:47 AM ET

    FORTALEZA, Brazil— The leaders of five emerging market powers said at a summit Tuesday that they gave final agreement to creating their own development bank worth $100 billion that will have its headquarters in China.

  • CARACAS, July 14- German airline Lufthansa said on Monday it will reduce service to Venezuela by 40 percent starting next month amid an ongoing dispute about repatriation of revenue from ticket sales.

  • NEW YORK, July 14- Aurelius Capital Management, one of the lead holdout creditors seeking to settle with Argentina over sovereign debt payments from its 2002 default, said on Monday the government faces a new crisis on July 30 unless it engages in serious negotiations. "Absent a deal, Argentina's next sovereign debt crisis will start on July 30.