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  • SAO PAULO, Jan 14- Shares of Embraer SA fell on Wednesday after the Brazilian planemaker said it expected to report negative cash flow in 2014 due to delayed payments from clients, raising questions about the future of defense contracts as the government struggles with its fiscal goals. Embraer generated $213 million in free cash flow during 2013..

  • The Federal Prosecutor's Office said in a statement that Nestor Cervero was arrested Wednesday morning at Rio de Janeiro's international airport after arriving from London. Cervero, who was forced out of Petrobras last March amid questions into what prosecutors say was a hugely inflated price paid in 2006 to Belgium's Astra Oil for a refinery in Texas, was...

  • Paraguay president calls on legislators to 'stop robbing' Wednesday, 14 Jan 2015 | 7:14 AM ET

    ASUNCION, Paraguay— Paraguay's president is calling on fellow members of the government to "stop robbing" from the South American country. President Horacio Cartes made the statement Tuesday during a passionate speech at Villa Hayes, where subsidized housing is being built for older people about 50 kilometers northeast of Asuncion. Paraguay, a small and poor...

  • RIO DE JANEIRO, Jan 14- Brazilian police early on Wednesday arrested another former executive at state-run oil company Petroleo Brasileiro SA after prosecutors accused him of continued involvement in corruption and money laundering. Nestor Cervero, former international director of the company known as Petrobras, was detained at Rio de Janeiro's...

  • Brazil's Petrobras fails to meet output target Tuesday, 13 Jan 2015 | 12:07 PM ET

    SAO PAULO— Brazil's state-run oil company says it failed to reach its year-end production target even though its daily oil output increased 5.3 percent in 2014.. The oil firm Petrobras said in a statement late Monday that last year's daily output was about 2 million barrels compared with 1.9 million barrels in 2013.. In November, the company reduced its 2014...

  • Cuba moves to expand WiFi service slightly Tuesday, 13 Jan 2015 | 7:19 AM ET

    HAVANA— Cuba's telecommunications company says that it will offer WiFi service in a public park in the country's far east but only for access to the island's restricted Cuba- only intranet. Cuba's official journalists union said Monday that the government would offer WiFi internet access in a park in the city of Santiago for $4.50 an hour.

  • NEW YORK, Jan 13- Citigroup Inc has been quietly scaling back its consumer banking presence in some of the world's major cities, pulling out from markets where it does not have enough branches to be competitive. In 2014 Citi retail executives went from targeting 120 of "the world's top 150 cities" to homing in on 100 cities where the company has the greatest scale and...

  • NEW YORK— Investigators trying to figure out why AirAsia Flight 8501 crashed into the Java Sea on Dec. 28 might now have the tools they need to provide answers. On Monday the flight's data recorder was pulled up from the bottom of the shallow sea. The cockpit voice recorder was also located but not yet surfaced.

  • SAO PAULO— Thousands of autoworkers in Brazil's biggest city have blocked a major highway to protest the firing of 800 Volkswagen workers. Metalworkers union members from VW, Ford and Mercedes-Benz took to a main artery south of Sao Paulo on Monday, blocking traffic in both directions. VW has said that weaker car sales in Brazil forced it to make the layoffs.

  • SAO PAULO, Jan 12- Thousands of Brazilian metalworkers marched on a highway outside of Sao Paulo on Monday to protest layoffs by carmakers, adding to a mounting crisis in a politically sensitive industry. State police said about 7,000 workers from Volkswagen AG, Ford Motor Co and the Mercedes-Benz truck unit of Germany's Daimler AG occupied a lane of the highway...

  • *Venezuelan president visits Saudi Arabia, Qatar. DUBAI/ DOHA, Jan 12- A diplomatic push by Venezuela and Iran for an OPEC oil output cut has failed to soften the refusal of the group's Gulf members to do so for now, delegates said on Monday. Venezuelan President Nicolas Maduro on Sunday met Saudi Arabia's Crown Prince Salman in Riyadh before heading to Qatar and...

  • SAO PAULO, Jan 12- Thousands of metalworkers in Brazil marched on a highway outside of Sao Paulo on Monday to protest layoffs by carmakers, adding to a mounting crisis in a politically sensitive industry. State police said about 7,000 workers from Volkswagen AG, Ford Motor Co and the Mercedes-Benz truck unit of Germany's Daimler AG occupied a lane of the highway...

  • *Venezuelan president visits Saudi Arabia, Qatar. *Iran backs coordinated front with Venezuela on oil price. DUBAI/ DOHA, Jan 12- A diplomatic push by Venezuela and Iran for an OPEC oil output cut has failed to soften the refusal of the group's Gulf members to do so for now, delegates said on Monday.

  • Hot cars at the Detroit auto show Monday, 12 Jan 2015 | 12:05 AM ET

    DETROIT— The North American International Auto Show begins this week in Detroit with media and industry previews. Hyundai surprised the auto show with the Santa Cruz, which brought to mind niche vehicles of the past like the Subaru Baja. Dave Zuchowski, Hyundai's U.S. chief, says the Santa Cruz could be on the road in three years if the company decides to make it.

  • RIYADH, Jan 11- Venezuelan President Nicolas Maduro met Saudi Arabia's Crown Prince Salman in Riyadh on Sunday as part of a diplomatic tour of OPEC members to discuss falling oil prices, which have hit its economy hard. Despite growing concern from Venezuela and other OPEC members such as Iran, OPEC delegates have said as recently as last week that the group's...

  • Iran vows to help Venezuela to stem oil price fall Saturday, 10 Jan 2015 | 1:09 PM ET

    President Nicholas Maduro is on a tour of fellow OPEC countries to lobby for higher oil prices, which hit new lows last week below $50 per barrel, nearly half of what they were back in June 2014. The plunge in crude prices has pummelled the public finances of Iran and Venezuela, whose economies rely heavily on oil exports. Earlier on Saturday, Iranian President...

  • Jan 9- As investigators hunt for what caused an AirAsia jet to crash in an equatorial storm on Dec 28, the aviation industry is still struggling to apply the lessons of accidents in similar weather over the past decade. It is too early to say whether the Airbus A320 crashed into the Java Sea due to pilot error, mechanical problems, freak weather or- as most often...

  • Record-high temperatures and the most severe drought in at least 80 years punished southeastern Brazil last year, a region accounting for 60 percent of the country's gross domestic product. Private weather forecaster Somar warned of irregular rainfall in the center-west soy belt as well as the southeast throughout the month as an atmospheric blockage...

  • Record-high temperatures and the most severe drought in at least 80 years punished southeastern Brazil last year, a region accounting for 60 percent of the country's gross domestic product. Private weather forecaster Somar warned of irregular rainfall in the center-west soy belt as well as the southeast throughout the month as an atmospheric blockage...

  • RIO DE JANEIRO, Jan 8- Brazil's state-run oil company said on Thursday it produced more crude oil and related liquids in the third quarter than Exxon Mobil Corp, making Petroleo Brasileiro SA the world's largest publicly traded petroleum producer for the first time. That output was 7 percent more than the 2.065 million bpd Exxon produced in the same quarter,...