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Brazil

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  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, local media said, pulling the most high-profile executive into the corruption investigation at state-run oil firm Petrobras. Odebrecht, which has 200,000 workers and a presence in 21 countries,...

  • *Pope voicing concerns from Latin America. The sharp critique of the market-based approach to curbing emissions comes as support for carbon trading is growing, embraced by institutions like the World Bank and United Nations, as well as the heads of many multinational companies and countries like China.. Emissions trading schemes, such as one in place in the...

  • SAO PAULO— The co-founder of Brazil's second-largest airline has been absolved of charges that he ordered the attempted killing of his former son-in-law. A court in the capital city of Brasilia says on its website that a seven-person jury acquitted Constantino de Oliveira late Tuesday night. Alves was attacked while driving in Brasilia.

  • RIO DE JANEIRO, June 16- Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry. However, executives at Petroleo Brasileiro SA, as Petrobras is formally known, have run into internal and...

  • SAO PAULO— Construction of a massive hydroelectric dam is endangering the livelihoods of at least 2,000 families in Brazil's Amazon jungle state of Para, according to federal prosecutors who recommend that efforts to move the residents be suspended. The federal prosecutors' office said in a statement Monday that the Norte Energia consortium that is...

  • 'Soy King' of Brazil, Olacyr de Moraes, dies at 84 Tuesday, 16 Jun 2015 | 2:29 PM ET

    SAO PAULO, June 16- Olacyr de Moraes, the one-time "Soy King" of Brazil who pushed the frontier of large-scale agriculture far into the country's interior to become the world's largest soybean grower, died on Tuesday at age 84.. Mato Grosso today is the largest grain producing state in Brazil, which ranks second to the United States in soy. An economic downturn in...

  • PARIS, June 15- Brazil's Embraer SA on Monday announced 50 firm orders at the Paris air show for regional jets worth a total of $2.6 billion, including deliveries in China starting this year. Deliveries will begin this year for seven E190s to Colorful Guizhou, the fifth airline flying Embraer's E-Jets in China. Embraer's first-quarter earnings suffered as the...

  • Brazil cuts 2015 borrowing from Sweden for Gripen jets Thursday, 11 Jun 2015 | 1:58 PM ET

    BRASILIA, June 11- Brazil's government has drastically reduced the amount of funds it will borrow from Sweden this year to pay for a fighter jet deal with Saab but talks to lower interest rates are ongoing, the defense ministry said on Thursday. A failure to agree on financing terms for the contract could force Brazil and Saab to renegotiate the $5.4 billion sale...

  • BRUSSELS, June 11- Unable to match China's offer of $250 billion in investment in Latin America, the EU sought ways on Thursday to avoid being marginalized in the region, offering new trade deals, visa-free travel and deeper ties. At a two-day summit with Latin American leaders in Brussels, European leaders briefly put aside concerns about Greece, Ukraine and...

  • NEW YORK, June 10- Global agricultural merchant Ecom Agroindustrial Corp and its smaller U.S. rival V&A Commodity Traders Inc have joined forces to create a medium-sized sugar merchant, the latest deal to transform the struggling sweetener market. V&A Trading, which is owned by Seacor Holdings, said on Wednesday the companies have agreed to merge their sugar...

  • NEW YORK, June 10- Global agricultural merchant Ecom Agroindustrial Corp will combine its sugar trading business with its smaller U.S. rival, V&A Commodity Traders Inc, to create a medium-sized merchant, the latest deal to transform the struggling sweetener market. In a statement on Wednesday, V&A Trading, which is owned by Seacor Holdings, said the companies...

  • In a statement, V&A Trading, which has offices in New York, Geneva and Sao Paulo and is owned by Seacor Holdings, said the companies have agreed to merge their collective trading operations to form a new company called VA&E Trading UK LLP.

  • SAO PAULO, June 9- Foreign investors' optimism about Brazil remains unfounded even as it lessened somewhat in May, Verde Asset Management said in a monthly letter to clients distributed on Tuesday. Verde, Brazil's largest hedge fund with over 30 billion reais under management, cautioned that Brazil's fiscal outlook remains tough while its economy seems...

  • The infrastructure plan is meant to restore growth to Brazil's faltering economy and raise Rousseff's popularity, which has been battered by high inflation, rising unemployment and a corruption scandal at state-run oil company Petrobras. The World Economic Forum ranks Brazil only 120th out of 144 countries for overall quality of infrastructure, with...

  • BRASILIA, June 9- President Dilma Rousseff unveiled a concession program on Tuesday to draw 198.4 billion reais in private investment over five years to upgrade and operate Brazilian roads, railways, airports and harbor terminals. The logistics plan includes 4,371 kilometers of new highways, the extension of existing railway concessions and the private...

  • Diageo: Too big to be bought? Monday, 8 Jun 2015 | 4:40 AM ET
    Diageo: Too big to be bought?

    Reports suggests that "Brazil's richest man", Jorge Paulo Lemann, is mulling over a bid to buy UK spirits business, Diageo. CNBC's Catherine Boyle, discusses the claims.

  • RIO DE JANEIRO, June 7- Renowned Brazilian fund manager Luis Stuhlberger warned Brazil's economy is at risk of suffering a new lost decade, saying recent efforts to balance its finances are not enough and that growth will remain lackluster until at least 2018.. Brazil is in the process of trying to cut back spending in a bid to convince investors that President...

  • Is there any hope for Brazil? Thursday, 4 Jun 2015 | 2:15 AM ET
    Is there any hope for Brazil?

    Ilan Solot, vice president of foreign exchange at Brown Brothers Harriman, says the economic situation in Brazil looks dire, and its economy is set to shrink this year.

  • LONDON/ RIO DE JANEIRO, June 3- Indebted Brazilian oil company Petrobras has brought in Bank of America Merrill Lynch to help manage a multi-billion dollar divestment plan and has already contacted major oil companies who might be interested buyers, three sources familiar with the matter said on Wednesday. Petrobras, whose total debts of some $170 billion make...

  • Pressure is on for Brazil: Strategist Wednesday, 3 Jun 2015 | 4:50 AM ET
    Pressure is on for Brazil: Strategist

    Maarten-Jan Bakkum, senior multi-asset strategist at NN Investment Partners, says that inflation, along with weak currency are the main focuses for the Brazilian central bank now.