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Brazil

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  • RIO DE JANEIRO/ SAO PAULO/ MILAN, Jan 23- Oi SA, Brazil's most indebted phone carrier, is open to all options in a potential process of industry consolidation as long as the transaction helps create value for shareholders, Chief Executive Officer Bayard Gontijo said on Friday. However, management at Telecom Italia SpA, TIM's controlling shareholder, plans to meet...

  • BRASILIA, Jan 23- Brazil's inflation rate spiked to its highest in more than three years in mid-January as local and federal authorities raised electricity tariffs and bus fares to balance government finances, statistics agency IBGE said on Friday. Key producing regions in Brazil, the world's largest exporter of coffee, sugar, soy and beef, have received much...

  • SAO PAULO/ BRASILIA, Jan 22- Brazilian President Dilma Rousseff's crusade to win back investor confidence has entrusted policymakers with the tough mission of hiking interest rates while major central banks cut them, raising the prospect of another recession in Latin America's biggest economy. The move left the Brazilian central bank at odds with the...

  • The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance last year.

  • BRASILIA, Jan 21- State-run Brazilian oil producer Petroleo Brasileiro SA does not need to curtail its multibillion-dollar investment plan because of a growing corruption scandal, Mines and Energy Minister Eduardo Braga told Reuters on Wednesday. As a result, company officials said in December they expect to cut back a five-year $221- billion investment...

  • DIARY-Emerging Markets Economic Events to Feb 3 Tuesday, 20 Jan 2015 | 7:02 PM ET

    **SEOUL- Bank of Korea Governor Lee Ju-yeol will hold a press conference with foreign media at the Seoul Foreign Correspondent's Club- 2230 GMT. **SEOUL- Bank of Korea Governor Lee Ju-yeol will meet the heads of banks in South Korea- 2230 GMT. PRETORIA- The South African Reserve Bank starts its three-day monetary policy committee meeting.

  • Alitalia's new strategy envisions new routes from Rome to Dusseldorf, San Francisco, Beijing, Santiago, Chile, among other cities, and extra flights to New York, Chicago, Rio de Janeiro and Abu Dhabi, Etihad's hub. Strategy focuses on three Italian hubs: Milan's Malpensa airport for increased long-haul flights; Milan's Linate for more connections to partner...

  • SAO PAULO, Jan 19- Rolling blackouts swept across parts of Brazil on Monday as the grid operator ordered select power cuts to avoid a larger crisis, drawing attention to a fragile electric system that is buckling under the strains of record-breaking heat and dryness. Grid operator ONS said it orchestrated 2,200 megawatts of controlled outages in eight states...

  • RIO DE JANEIRO, Jan 19- Three workers were seriously hurt in an explosion on Sunday at Petrobras' 323,000- barrel-a-day Landulpho Alves Refinery outside the northeastern city of Salvador, the second serious accident at Brazil's second-largest refinery in a week. The union will stage a wildcat protest strike until Tuesday morning, Cedro Silva, a director of...

  • *Workers suffered burns to 10-75 percent of bodies. RIO DE JANEIRO, Jan 19- Three workers were seriously hurt in an explosion on Sunday at Petrobras' 323,000- barrel-a-day Landulpho Alves Refinery outside Salvador, Brazil, the second serious accident at Brazil's second-largest refinery in a week. Petroleo Brasileiro SA, as state-run Petrobras is formally...

  • Why commodity exporters may get a tailwind Sunday, 18 Jan 2015 | 5:54 PM ET
    A worker walks among coils of galvanized steel at the ArcelorMittal Eko Stahl steelworks in Germany

    Conventional wisdom suggests commodity exporters will take price declines on the chin, but Morgan Stanley expects they'll benefit most.

  • SAO PAULO, Jan 16- Brazilian police fired tear gas to disperse hundreds of people protesting an increase in transit fares in Sao Paulo, the country's biggest city, on Friday, raising fears of more disruption after a similar demonstration turned violent last week. About 3,000 people gathered at Sao Paulo's main thoroughfare on Friday, according to local police...

  • SAO PAULO— Workers at the Brazilian subsidiary of German automaker Volkswagen say they have ended the strike they started 10 days ago to protest the dismissal of 800 workers. The metalworkers union in the Sao Paulo suburb of Sao Bernardo Do Campo says on its website that the strike was called off after the company reversed the layoffs. The union says work will...

  • *Faltering euro zone and China, disinflation biggest risks. BENGALURU, Jan 15- Global economic growth will be modest at best in the coming year as weak inflation persists, Reuters polls showed on Thursday, while a faltering euro zone and China could restrain it further. Economists polled over the past week by Reuters say the biggest risk to the global economy this...

  • SAO PAULO— Brazil on Wednesday for the first time approved the use of a marijuana derivative to treat people suffering from severe seizures and other conditions. Cannabidiol is not produced in Brazil and the agency said it will draw up legislation permitting it to be imported. Last month, the Federal Medical Council that regulates the medical profession in...

  • 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...

  • 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...

  • 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.