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Latin America

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  • HOUSTON/ NEW YORK, April 24- Venezuela, struggling to pay for essential items such as food and medicine amid strict foreign currency controls, may have failed to collect about a third of its potential oil revenue in 2014, a Reuters analysis suggests. An exact figure for both realized and deprived revenues is unavailable given the absence of specific data from...

  • RIO DE JANEIRO, April 24- Petrobras' decision to take a massive $17 billion write-down to account for overvalued assets and corruption-related costs is only the start of a broad overhaul needed to revive Brazil's troubled state-owned oil company. While many have focused on the $2.1 billion, or 12 percent of the write-down, related to money siphoned off in a...

  • BUENOS AIRES, April 24- Argentina's central bank is ramping up issuance of short-term debt to soak up pesos and contain one of Latin America's quickest inflation rates, but risks creating another financing headache for the next government. This is helping mop up some of the liquidity resulting from President Cristina Fernandez's expanding the money supply...

  • RIO DE JANEIRO, April 24- Petrobras' decision to take a massive $17 billion write-down to account for overvalued assets and corruption-related costs is only the start of a broad overhaul needed to revive Brazil's troubled state-owned oil company. While many have focused on the $2.1 billion, or 12 percent of the write-down, related to money siphoned off in a...

  • BRASILIA, April 24- Brazilian interest rates are set to rise sharply again next week, a Reuters poll showed on Friday, as the central bank attempts to boost its inflation-fighting credentials even as signs of a recession continue to grow. Forty-two of the 48 economists surveyed in the poll expect policymakers to raise the benchmark Selic rate by 50 basis points...

  • District Judge Sam Haddon for not turning over details of a $13.8 million property sale in Mexico. The Yellowstone Club went bankrupt in 2008— right after Blixseth gave up control of the private ski and golf resort near Big Sky that boasts a $300,000 entry fee. Those judgments, which Blixseth has so far avoided paying, include the proceeds from the Mexico property,...

  • RIO DE JANEIRO— When Frenchman Gwenel Lecourieux was gearing up to move to Brazil, the country with its swelling upper class and world-renowned hunger for luxury goods seemed like the perfect place to set up his dream business, selling high-end watches. Brazil doesn't track the number of foreign residents leaving the country, but signs indicate the country's...

  • Brazil trucker strike sputters on second day Friday, 24 Apr 2015 | 10:15 AM ET

    SAO PAULO, April 24- Participation in a trucker strike in Brazil weakened on Friday, its second day, as the number of blockages on highways fell to 11 from 17 the night before, according to police. Truckers in Brazil resumed roadblocks across the country's main farm belt early on Thursday, after failing to reach common ground in talks with the government and freight...

  • ENSENADA, Chile— Authorities urged 2,000 people living near the Calbuco volcano to evacuate Friday after potentially devastating mudflows of volcanic debris were detected in a nearby river, the result of two huge eruptions this week that sent ash across large swaths of southern South America. Authorities said the evacuees from the towns of Chamiza, Lago...

  • LIMA, Peru— Mourners carried a coffin holding a 61- year-old farmer through the streets of a southern Peru port city Thursday after the man became the first fatality of a monthlong protest against a Mexican-owned copper mining project. Agriculture Minister Juan Manuel Benites, the chief government negotiator in the dispute, said the widening protest against...

  • BUENOS AIRES, April 23- Argentina's state energy company YPF said it had sold $1.5 billion of new 10- year bonds at 8.5 percent on Thursday, raising its planned issuance from $500 million on the back of strong demand. YPF needs to raise cash to invest in its vast but barely tapped Vaca Muerta shale oil and gas formation in order to reverse Argentina's energy sector...

  • SAO PAULO, April 23- Truckers in Brazil resumed roadblocks across the country's main farm belt early on Thursday, after failing to reach common ground in talks with the government and freight companies in recent weeks regarding pay and fuel prices. Highway police estimated 14 protests blocking roads Thursday morning, that mainly affected the movement of...

  • RIO DE JANEIRO, April 23- Executives at Brazil's Petrobras on Thursday sought to move on from a giant corruption scandal that has plagued the state-run oil company, outlining a back-to-basics recovery plan that left some investors hoping the worst was over. On a call with investors the day after publishing long-delayed audited results for 2014, Chief...

  • Petrobras CFO: We're aiming for transparency Thursday, 23 Apr 2015 | 3:13 PM ET
    Ivan Monteiro, CFO of Petrobras.

    Brazilian oil giant Petrobras believes it has started to normalize its relationship with investors and to implement better governance.

  • LIMA, April 23- The poverty rate in Peru edged down 1.2 percentage points to 22.7 percent last year, official data showed on Thursday, amid the country's worst economic slowdown in five years. In the previous six years, Peru's poverty rate fell by an annual average of 3 percentage points as economic growth in Peru, the global minerals exporter, surged on high...

  • What a US rate hike will mean for Brazil Thursday, 23 Apr 2015 | 11:16 AM ET
    A gas station in Rio De Janeiro, Brazil.

    Despite its exposure to oil, Ricardo Mendes of Prospectiva Consulting said some Brazilian businesses could benefit from tighter U.S. monetary policy.

  • Goodyear plant planned for Mexico's San Luis Potosi state Thursday, 23 Apr 2015 | 11:10 AM ET

    MEXICO CITY, April 23- A forthcoming investment by Goodyear Tire& Rubber Co in Mexico will be made in the central state of San Luis Potosi, according to two people familiar with the matter. The U.S.-based company aims to invest $550 million in the new tire plant, which should be announced at a joint event with the Mexican government on Friday in Mexico City, a person...

  • RIO DE JANEIRO, April 23- Shares in Brazil's state-run oil company Petrobras fell 5 percent on Thursday, a day after it reported the largest loss ever on $17 billion in charges, giving investors a deeper look at the fallout from a huge corruption scandal. Preferred shares pared losses after a sharp opening selloff in Sao Paulo as traders weighed the greater...

  • OTTAWA, April 23- German car maker Volkswagen AG will get 400 million Euros in trade financing from Canada to help expand its southern U.S. and Mexican operations and thereby generate business for Canadian firms, Ottawa said on Thursday. "With the southern U.S. and Mexico increasingly becoming prime production locations for global automakers, EDC has a role to...

  • Police fire on Peru anti-mining protesters, killing 1 Wednesday, 22 Apr 2015 | 11:56 PM ET

    LIMA, Peru— Authorities in Peru say police fired on farmers opposed to a Mexican-owned copper mine in the country's south, killing one person and wounding 12.. Farmers and local leaders oppose the $1.3 billion Tia Maria mine in the Tambo valley of Arequipa state. In 2011, three farmers were killed during protests against the project owned by Southern Peru Copper...