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South America

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  • In Bogota, Colombia, a company that makes plastic water valves is hoping an expansion into the United States will super-charge its exports. In Brazil, firms that make ceramic tiles predict they'll beat last year's robust sales abroad, thanks to a strong U.S. dollar that gives them a price advantage in the United States. The prospect of tighter commercial ties...

  • Shell gambles on rocky Brazil, Petrobras with BG bid Wednesday, 8 Apr 2015 | 9:49 AM ET
    A Petrobas platform at the Brasfels shipyard in Angra dos Reis, about 115 miles west of Rio de Janeiro.

    Shell’s $69 billion bid for BG Group could increase its exposure to Brazil at a time when the country appears to be destabilizing and stagnating.

  • SAO PAULO, April 8- Highway police in Brazil escorted a convoy of trucks past a blocked entrance at Santos, Brazil's largest port early on Wednesday, providing some relief to grain exports that have slowed this week after a fire at a nearby fuel-storage facility. The firefighters' office in Sao Paulo state said via Twitter that one of six fuel tanks at the facility...

  • The hedge funds, dubbed vultures by Argentina's leftist government, argued the court could not hear an appeal until Griesa sanctions Argentina, something the Manhattan judge has yet to do. Argentina indicated it was prepared to take its case to an international court if Griesa took further measures against Latin America's third biggest economy.

  • BUENOS AIRES, Argentina— A U.S. appeals court in New York has thrown out an appeal by the Argentine government in the long-running legal fight over the South American country's debt. The 2nd U.S. Circuit Court of Appeals in New York on Tuesday dismissed the appeal of a contempt ruling by Judge Thomas Griesa. It's the latest development in a long legal fight between...

  • RIO DE JANEIRO— An oil service company is suspending operations on five drills it operates for Brazil's state-run oil giant Petrobras amid a widespread corruption scandal that has engulfed both companies. In a statement Tuesday, Petrobras said Schahin has announced the impending suspension of the five rented drills. Schahin is among the companies caught up...

  • Brazilians protest against the outsourcing of jobs Tuesday, 7 Apr 2015 | 5:05 PM ET

    SAO PAULO— Thousands of workers staged rallies in 12 cities across Brazil on Tuesday to protest a proposed law that would allow companies to outsource their labor force. The biggest rally occurred in the federal capital of Brasilia, where some 3,000 demonstrators gathered in front of Congress hours before lawmakers were expected to vote on the measure.

  • *Mercedes, Nissan, Renault collaboration expanded. The new Mercedes-Benz pickup targets commercial and private clients in Europe, Latin America, Australia and South Africa, and will share some of the underpinnings with an all-new Nissan NP300 truck, Daimler and Nissan said in a joint statement. The Mercedes-Benz 1- ton pickup truck will be built by Nissan in...

  • BUENOS AIRES, April 7- Dry weather in Argentina's main soy-growing area is forecast to last another two to three weeks, keeping the grains powerhouse on track toward an expected record crop likely to weigh on already sagging world food prices. In the heart of the farm belt- including parts of Entre Rios, Santa Fe, Cordoba, La Pampa and Buenos Aires provinces- ample...

  • PANAMA CITY— From Mexico to Brazil, leaders in Latin America have largely kept silent amid charges of human rights abuses in Venezuela and are unlikely to speak out against their neighbor at this week's Summit of the Americas. Many Latin American heads of state gathering in Panama City are bound to oil-rich Venezuela by business dealings if not ideology, and are...

  • Argentina's securities regulator says Citibank Argentina violated local laws by striking a deal with the hedge funds. Argentina on Monday appealed a U.S. federal court order that it said "erroneously modified and extended" a ruling preventing payment on its restructured bonds under Argentine law. The case stems from a decade-long legal feud between...

  • SINGAPORE, April 7- Chinese steelmakers are unwittingly helping the world's biggest iron ore miners tighten their grip on global production by demanding to pay for shipments of the raw material based closely on depressed spot prices. The three largest and most profitable iron ore producers- Australia's Rio Tinto and BHP Billiton, along with Brazil's Vale-...

  • The dispute is the latest fallout from a long-standing legal battle between Argentina and a group of U.S. creditors that refused to accept debt swaps in 2005 and 2010.. District Judge Thomas Griesa in New York has ruled that Argentina can't pay holders of its restructured debt without also paying the holdout funds. Following that ruling, Argentina threatened...

  • BUENOS AIRES, April 6- Argentine central bank regulators entered Citibank Argentina's headquarters on Monday, as the battle intensified between the government and a group of U.S. hedge funds who refuse to accept discounted payment terms on the country's defaulted debt. Argentina's securities regulator says Citibank Argentina violated local laws by...

  • BUENOS AIRES, April 6- Argentine central bank regulators entered Citibank Argentina's headquarters on Monday, as the battle intensified between the government and a group of U.S. hedge funds who refuse to accept discounted payment terms on the country's defaulted debt. Argentina's securities regulator says Citibank Argentina violated local laws by...

  • RIO DE JANEIRO, April 2- Eighty firefighters were battling a fire at a fuel tank storage facility run by Ultracargo near Brazil's port of Santos, Latin America's largest, the local fire service said on Thursday. Television footage showed large plumes of black smoke and fireballs coming from the site, near facilities run by Norway's Stolt-Nielsen Ltd and...

  • SAO PAULO/ RIO DE JANEIRO, April 1- Brazilian telecom group Oi SA is eliminating 1,070 jobs this month in a cost-cutting program that will define how much it can invest this year, the company told Reuters exclusively as pink slips began to go out on Wednesday. Chief Executive Bayard Gontijo, who set the cost-cutting agenda in motion when he took over in October, said...

  • BUENOS AIRES, March 31- Argentina made an interest payment on its restructured debt on Tuesday, an economy ministry spokeswoman said, although the money would almost certainly not reach most bondholders due to international lawsuits over defaulted bonds. A U.S. judge has barred Argentina from paying interest on bonds that were restructured after its 2002...

  • SAO PAULO, March 31- Brazilian engineering conglomerate Grupo OAS requested court protection from creditors for nine of its units on Tuesday as it grapples with the fallout from a scandal at state-controlled Petrobras, a key customer. Under terms of the petition, which OAS filed in a São Paulo state court, the company sought creditor protection for...

  • BUSINESS NEWS SCHEDULE AT 1830 GMT/2:30 PM ET Tuesday, 31 Mar 2015 | 2:30 PM ET

    Editor: Steve Orlofsky 1 646 223 6214. NEW YORK- U.S. consumer confidence rebounded strongly in March amid optimism over the labor market and home prices increased, hopeful signs that a recent sharp slowdown in economic activity will be temporary. NEW YORK- U.S. stocks decline in a retreat from the previous session's sharp rally, but major indexes remain on track...