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South America

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  • CARHUAZ, Peru, Dec 11- High in the Peruvian Andes, the glacier-fed lake Laguna 513 brims with meltwater atop a populated valley in a region prone to earthquakes. Peru has more tropical glaciers than any other nation but rising temperatures linked to global warming have helped shrink the ice masses by up to 40 percent, filling existing lakes to the brim and spawning...

  • BRASILIA/ SAO PAULO, Dec 11- The Brazilian government is working on a plan to help embattled state-controlled oil producer Petrobras borrow money through an offering of asset-backed securities before year end, Mines and Energy Minister Edison Lobão said on Thursday. The plan, under which the National Treasury and state-run power holding company Eletrobras...

  • SAO PAULO, Dec 11- Brazilian retailers are expecting their worst Christmas season in a decade and signs are pointing to an unhappy New Year ahead. But most consumer companies, such as cosmetics maker Natura SA and apparel chain Cia Hering, are likely to continue to struggle with weak demand. Brazil's National Confederation of Commerce estimated Christmas sales...

  • TOKYO, Dec 11- Once at the forefront of the fight again global warming, Japan is now facing calls from other big economies such as China to set fresh emissions targets as Tokyo increases its use of dirty coal energy to replace nuclear. Japan now finds itself alongside India and Russia, the world's third- and fourth-biggest polluters, by not yet declaring goals.

  • LIMA, Dec 10- The United States on Wednesday played down prospects for a wide-ranging deal with India to curb greenhouse gas emissions next year along the lines of a plan agreed to with China last month. "We don't have that kind of process going on with India," U.S. climate envoy Todd Stern told a news conference during Dec. 1-12 talks among 190 nations in Lima on ways to...

  • 'Berlin Wall' climate divide looms over Lima Wednesday, 10 Dec 2014 | 7:37 PM ET

    Since then, however, nations such as Singapore or Mexico have grown rich but are still deemed "poor". In Lima, representatives of 192 countries are trying to craft a new accord that will hold developed nations responsible for their past emissions but that will also put on the hook some emerging economies that will emit most carbon in future. Countries are grappling...

  • U.S. says no China-style climate deal in works for India Wednesday, 10 Dec 2014 | 6:11 PM ET

    LIMA, Dec 10- The United States on Wednesday played down prospects for a wide-ranging deal with India to curb greenhouse gas emissions next year along the lines of a plan agreed to with China last month. China is the top greenhouse gas emitter, ahead of the United States, the European Union and India. Under a joint U.S.- China announcement last month, the United...

  • BOGOTA, Dec 10- Bidding to build a long-awaited $6.9 billion subway system in Bogota, Colombia's capital city, will open in the second half of 2015, the mayor said on Wednesday, adding that the project has garnered interest from foreign companies. Now the city has plans to open a first 32 km line serving 27 stations by 2020, mayor Gustavo Petro- considered the...

  • BUENOS AIRES, Dec 10- Argentina launched on Wednesday its first dollar-denominated bond sale since its latest default, and will likely meet strong demand from investors seeking big positions in high-yielding Argentine debt, local market players said. Argentina said it wanted to show it can pay its debts. Argentina has issued little debt since its record 2002...

  • At the same event, Venezuela's foreign minister and top OPEC emissary Raphael Ramirez provided his country's answer to Naimi's question: OPEC must act, he told Reuters, because "that is our job. Ramirez said Venezuela would evaluate whether to call for an emergency OPEC meeting after seeing how oil prices perform in the first quarter. Last month, Gulf producers...

  • After protests, Brazil cities try again to hike bus fares Wednesday, 10 Dec 2014 | 9:55 AM ET

    SAO PAULO, Dec 10- Brazilian cities are pressing ahead with plans to raise bus fares, despite threats of a repeat of street protests that shook President Dilma's Rousseff's government last year. The fare hikes are seen as an important test case for Rousseff's plan to roll out several unpopular measures, including higher taxes and budget cuts, in an effort to...

  • Petrobras funding options run slim as scandal deepens Wednesday, 10 Dec 2014 | 9:55 AM ET

    SAO PAULO, Dec 10- Brazil's state-controlled oil firm Petrobras may have to hike fuel prices, cut spending or seek a capital injection from the government next year as a widening corruption probe threatens to temporarily leave it out of capital markets. If auditors fail to approve its annual results by April, that could trigger early repayment of as much as $11...

  • NEW YORK, Dec 9- Venezuelan sovereign bond prices plunged and the cost to insure the debt against a default surged on Tuesday in thin seasonal trading as five-year low oil prices cut the OPEC nation's cash flow, compounding already weak economic conditions. Analysts point out that Venezuela, despite all its debt, is not a heavily indebted nation.

  • CARACAS, Dec 10- Packing potatoes at his vegetable stand on a sun-baked street in Caracas's hillside Catia slum, Jesus Jimenez fondly recounts voting for late president Hugo Chavez. Like millions in Venezuela's poor "barrios," the chatty father of 14 worshipped the larger-than-life Chavez and benefited from his welfare programs, especially Cuban-staffed...

  • *Bankruptcy protection petition will preserve cash- Eneva. SAO PAULO/ FRANKFURT, Dec 10- Eneva SA, the Brazilian power producer controlled by Germany's E.ON SE and Eike Batista, filed for creditor protection late on Tuesday, becoming the latest company founded by the tycoon to seek bankruptcy protection. E.ON gained control of Eneva, formerly MPX Energia SA, last...

  • Secretary-General Ban Ki- moon, expressing deep concern about slow action to combat climate change, told governments at U.N. talks in Lima on Tuesday there was no "time for tinkering" and urged a radical shift to greener economies. "But the window of opportunity is fast narrowing," he told delegates from about 190 nations at the Dec. 1-12 talks working on a deal, due in...

  • LIMA, Dec 9- A new Green Climate Fund that aims to help poor nations cope with global warming reached a U.N. goal of $10 billion on Tuesday at global climate talks in Lima, helped by a surprise donation from Australia. Several of the 190 nations at the meeting welcomed the cash from both Australia and Belgium, but China said rich countries were not working fast enough...

  • SAO PAULO, Dec 9- Eneva SA, the ailing Brazilian producer controlled by Germany's E.ON SE, filed late on Tuesday for credit protection in a Rio de Janeiro court after failing to refinance part of its 2.33 billion reais in outstanding debt. Banks, which were the biggest chunk of Eneva's creditors, refused to renew an accord to refinance the company's debt after...

  • BRASILIA, Dec 9- Brazil's prosecutor-general Rodrigo Janot on Tuesday called for the replacement of state-controlled oil company Petrobras' top management and punishment of everyone involved in a scheme to funnel kickbacks from contracts to politicians. Janot made his strongest comments so far on Brazil's latest corruption scandal as federal...

  • RPT-BUSINESS-NEWS-SCHEDULE AT 1600 GMT /1100 ET Tuesday, 9 Dec 2014 | 11:45 AM ET

    LONDON- Oil prices plumbed fresh five-year lows on Tuesday, prompting investors worried about the global economy and renewed political uncertainty in Greece to dump shares. LONDON- Greek share and sovereign bond markets plunge after the government brings forward a presidential vote, in a political gamble that heightens uncertainty over the country's...