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  • 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...

  • Brazil seek charges for 13 in Petrobras case Wednesday, 10 Dec 2014 | 9:11 AM ET

    SAO PAULO— Brazil's Federal Police agency has asked prosecutors to file charges against 13 people suspected of involvement in the corruption scandal engulfing the state-owned oil company Petrobras. Youssef, who has been talking to police in exchange for a lighter sentence, recently claimed that re-elected President Dilma Rousseff and former President...

  • *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...

  • 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...

  • BRASILIA, Dec 9- Brazil's top prosecutor called on Tuesday for the punishment of everyone involved in a scheme to funnel kickbacks from contracts with state-run oil firm Petrobras to politicians, and said he expected the company's management to be replaced. Rodrigo Janot's strongest comments so far on Brazil's latest corruption scandal were made as federal...

  • RIO DE JANEIRO, Dec 8- State-controlled oil company Petroleo Brasileiro SA and its top executives face a class-action lawsuit in a federal court in New York over an alleged contract fixing, bribery and kickback scheme that lawyers say inflated the value of the company's assets. The suit was filed by law firm Wolf Popper LLP in the Southern District of New York on...

  • US transfers 6 Guantánamo detainees to Uruguay Sunday, 7 Dec 2014 | 5:18 PM ET
    The Pentagon

    The United States transferred six detainees from the Guantánamo Bay prison to Uruguay this weekend, The Pentagon announced Sunday.

  • The overlooked BRIC that's been the best bet Friday, 5 Dec 2014 | 12:10 PM ET

    Russia and Brazil are a mess, and the oil price slide isn't helping. China is slowing. It's the other BRIC that's been stellar this year.

  • LONDON, Dec 4- Japanese trading house Mitsui& Co is set to buy a stake in Vale's Moatize coal project in Mozambique, according to two sources close to the situation. Under terms of the sale, Mitsui will buy 15 percent of the mine for about $450 million from the Brazilian miner, one of the sources said. Vale SA, which has been hit by a dramatic fall in the price of its key...

  • BRASILIA, Dec 2- A former Petrobras executive at the center of an alleged multibillion-dollar graft scheme involving the state-run oil company said on Tuesday that similar bribery and kickback schemes are prevalent in many Brazilian public-infrastructure projects. "What has been reported occurring at Petrobras happens all over Brazil in contracts for...

  • NEW YORK, Dec 2- Brazil's Vale SA said on Thursday it is considering the sale of a minority stake in its base metals unit in an initial public offering, as it looks to raise funds for key projects in the midst of sliding commodity prices. Chief Executive Murilo Ferreira told investors in New York that Vale is considering selling 30 percent to 40 percent of the...

  • NEW YORK, Dec 2- Brazil's Vale SA is considering the sale of a minority stake in its base metals division through an initial public offering as it looks to raise cash for core projects amid lower commodity prices, its CEO said on Tuesday. Vale Chief Executive Murilo Ferreira told investors in New York that the IPO would only take place if market conditions were "...

  • Dec 2- Brazil's Vale SA is considering listing part of its global base metals business in Toronto and London, according to multiple sources with knowledge of the plan, as the miner looks to fund capital projects amid a collapse in iron ore prices. Vale could outline the broad details of the plan for Toronto and London as early as Tuesday at an investor day event in...

  • BUSINESS-NEWS-SCHEDULE AT 1600 GMT /10.30 AM ET Monday, 1 Dec 2014 | 10:43 AM ET

    Asia, Europe, U.S. factory activity slows despite price cuts. LONDON/ SYDNEY/ NEW YORK- Manufacturing growth across Asia, Europe and the U.S. slowed in November as heavy price cutting failed to revive demand, surveys shows, more evidence that a feeble global recovery may be grinding to a halt. LONDON- Oil prices hit five-year lows as slowing factory activity in China...

  • Latin America feeling the oil price drop  Monday, 1 Dec 2014 | 4:50 AM ET

    The drop in oil prices affects Latin American countries in different ways when it comes to investment, says Juan Sartori, founder and executive chairman at Union Group - especially Brazil and Venezuela.

  • BRASILIA, Nov 27- Incoming finance minister Joaquim Levy faces tough hurdles, including resistance from within the ruling party, as he sets out to restore order to Brazil's messy public accounts, regain investor confidence and get a stagnant economy moving again. Levy's biggest challenge will be to convince skeptical investors that Brazil has a viable plan to...

  • New direction for Brazil?  Friday, 28 Nov 2014 | 4:40 AM ET

    Brazil's new finance minister, Joaquim Levy is a "fiscal hawk" yet making a lot of bold promises may make his work difficult says Bhanu Baweja, global head of emerging market cross asset strategy at UBS.