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Brazil

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  • RIO DE JANEIRO, July 7- Concerns that Brazil may lose its coveted investment grade credit rating are again on the rise among government officials and investors who worry that President Dilma Rousseff's austerity push won't fully offset plunging government revenues. As Brazil prepares for a crucial ratings review by Moody's Investors Service in the third...

  • *Russia to host BRICS summit in city of Ufa. *Putin sees chance to show Russia not isolated. At a meeting in the remote Russian city of Ufa, originally a fortress built on the orders of Tsar Ivan the Terrible, Brazil, Russia, India, China and South Africa also aim to put the last touches to a $100- billion contingency currency reserves pool.

  • Foreign exchange trading in Brazil is estimated at about $3 trillion a year, excluding swaps and derivative transactions. The banks named in the Cade probe are Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, Barclays Plc, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase& Co, Morgan Stanley& Co, Nomura Holdings Inc,...

  • SAO PAULO, July 2- Brazil antitrust watchdog Cade opened on Thursday an investigation over alleged currency rigging by a group of 15 global banks, the first of its kind in one of the world's busiest foreign exchange markets. In a statement, Cade said the banks colluded to influence benchmark currency rates in Brazil by aligning positions and pushing...

  • State banks Banco do Brasil SA and Caixa Econômica Federal, as well as private-sector lenders Itaú Unibanco Holding SA, Banco Santander Brasil SA and Banco Bradesco SA waived immediate repayment to allow Sete to continue with a reorganization program, said the sources, who requested anonymity due to legal restrictions on discussing the issue publicly.

  • BRASILIA, July 1- Brazilian senators on Wednesday debated alternatives to a 2010 law that requires state-run oil firm Petrobras to take a minimum 30 percent stake in new development contracts and function as operator in Brazil's subsalt oil areas. The current rules have been criticized for limiting foreign investment in the Subsalt Poligon, a region off...

  • JBS USA to buy Cargill pork business for $1.45 billion Wednesday, 1 Jul 2015 | 5:38 PM ET

    JBS USA, a division of Sao Paulo, Brazil- based JBS, and Cargill said Wednesday they have signed an agreement for the $1.45 billion transaction. JBS USA Pork Chief Operating Officer Martin Dooley says it's a strategic investment in the long-term growth of the company's U.S. pork business. Feed mills in Arkansas, Iowa, Missouri, and Texas are included, along with hog...

  • Uber hits roadblocks in Brazil's biggest city and capital Wednesday, 1 Jul 2015 | 11:45 AM ET

    The Sao Paulo city council voted 48-1 late Tuesday to prohibit the use of smartphone-based ride-sharing applications like Uber in the city of 12 million. The Sao Paulo measure still needs another vote and then the approval of Mayor Fernando Haddad before taking effect. On its Facebook page, Uber said the company "defends the right of users to choose the way they...

  • Sao Paulo city council takes first step to ban Uber Wednesday, 1 Jul 2015 | 8:03 AM ET

    SAO PAULO, July 1- The city council of Sao Paulo, South America's largest metropolis, voted to ban the U.S-based Uber ride-sharing service late Tuesday, the latest setback for the company after several countries took similar steps in recent months. "Uber defends the right of users to choose the way in which they move about the city," the company said in a statement...

  • RIO DE JANEIRO, July 1- Brazilian state-run oil company Petroleo Brasileiro SA's long history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its massive debt. Petrobras, though, has not met an annual production target since 2003 when the Workers' Party government of Brazilian President Dilma...

  • SAO PAULO, June 30- Chinese smartphone maker Xiaomi has started making devices in Brazil for sale locally, promising to dramatically undercut rivals on price in the first big step beyond Asia for the world's most valuable technology start-up. Xiaomi's global vice-president, Hugo Barra, said in an interview on Tuesday that Brazil was "stage one of our Latin...

  • SAO PAULO, June 30- Chinese smartphone maker Xiaomi has started making devices in Brazil for sale locally, promising to dramatically undercut rivals on price in the first big step beyond Asia for the world's most valuable technology start-up. Xiaomi's global vice-president, Hugo Barra, said at a launch event on Tuesday that the entry-level Redmi 2 smartphone...

  • US opening market to Argentina, Brazil beef imports Tuesday, 30 Jun 2015 | 2:43 PM ET

    BUENOS AIRES, Argentina— Argentina and Brazil are greeting news that they will soon be able to export fresh beef into the United States after a longtime ban. Exports of fresh beef from Argentina to the three North American countries could be worth about $280 million, said Economy Minister Axel Kicillof. The U.S. Department of Agriculture's Animal and Plant...

  • US, Brazil increase ties on trade, climate Tuesday, 30 Jun 2015 | 12:57 PM ET
    U.S. President Barack Obama shakes hands with Brazilian President Dilma Rousseff in the Oval Office of the White House in Washington, June 30, 2015.

    The countries agreed to measures aimed to open trade, increase infrastructure collaboration and increase the use of renewable energy.

  • —after NBC dumped the real estate mogul Monday over comments he made about immigrants during his recent presidential campaign kickoff speech. But as he launches his 2016 presidential bid in earnest, his latest comments— that some Mexican immigrants bring drugs and crime to the country and are rapists— offended many, were denounced by Mexican-American groups...

  • RIO DE JANEIRO, June 29- Brazil's state-run oil company Petrobras slashed its long-term spending plan to the lowest level in eight years on Monday as new management moved to reduce the industry's largest debt burden and restore confidence after a devastating corruption scandal. Petroleo Brasileiro SA, as the company is formally known, will invest $130.3...

  • CHICAGO, June 29- Fresh beef from Brazil and Argentina will be allowed into the United States under amended regulations that specify conditions to mitigate risk of foot-and-mouth disease, the U.S. Department of Agriculture's Animal and Plant Health Inspection Service said on Monday. Brazil and Argentina also need to meet food safety standards before being...

  • RIO DE JANEIRO, June 29- Brazil's state-run oil company Petrobras slashed its long-term spending plan to the lowest level in eight years on Monday as new management moved to reduce the industry's largest debt burden and restore confidence after a devastating corruption scandal. Petroleo Brasileiro SA, as the company is formally known, will invest $130.3...

  • Brazil's finance minister suffers pulmonary embolism Saturday, 27 Jun 2015 | 1:47 PM ET

    SAO PAULO— Brazil's Finance Ministry says Minister Joaquim Levy suffered a pulmonary embolism Friday night but was recovering and was expected to fly New York to accompany President Dilma Rousseff on her official visit to the United States. Levy's press office said he was hospitalized in Brasilia after complaining of chest pains. Levy crafted the fiscal...

  • BRASILIA, June 27- Brazilian Finance Minister Joaquim Levy told reporters he was fine as he left a Brasilia hospital early on Saturday, after he was treated for a minor pulmonary embolism. A source with direct knowledge of the matter told Reuters that, as of midday on Saturday, Levy would still fly as planned to New York that evening to accompany President Dilma...