GO
Loading...

Latin America

More

  • MEXICO CITY/ MONTERREY Oct 17- Mexico's biggest retailer, Wal-Mart de Mexico, on Friday said Chief Executive Scot Rank would step down after five years and that the head of Wal-Mart Latin America would take on a bigger role in the Mexico and Central America business. The change in leadership comes almost two years after a New York Times investigation that alleged...

  • Why Venezuela is so desperate, in 5 easy charts Friday, 17 Oct 2014 | 2:07 PM ET
    A technician takes a sample of crude oil from a well operated by Venezuela's state-owned oil company in Morichal, Venezuela.

    Despite its oil revenues, Venezuela's economic and fiscal situations are in free fall. Learn why here.

  • Crews begin demolition of Packard plant in Detroit Friday, 17 Oct 2014 | 12:35 PM ET

    DETROIT— Demolition started Friday on a section of the massive and crumbling Detroit Packard auto factory complex— a symbol of the city's blight and past manufacturing glory. Peruvian developer Fernando Palazuelo bought the 40- acre site last year for $405,000 at a Wayne County tax foreclosure auction. Palazuelo told The Associated Press in June that the...

  • Western New York yogurt plant laying off 32 Friday, 17 Oct 2014 | 10:54 AM ET

    BATAVIA, N.Y.— An upstate New York yogurt company says it's laying off more than 30 workers, an announcement made just as yogurt became the state's official snack. Local media report that Bogota, Colombia- based Alpina Foods said Wednesday it will lay off 32 employees at its plant in the town of Batavia, between Rochester and Buffalo. The company says it remains...

  • Long-term investors ready to buy Brazil after election Friday, 17 Oct 2014 | 10:35 AM ET

    RIO DE JANEIRO/ SAO PAULO, Oct 17- Long-term foreign investors are growing more optimistic about Brazil no matter who wins this month's presidential election but they say an opposition victory could unleash a flood of new money. Rousseff's economic policies have been roundly criticized by investors for tipping Brazil into a recession while damaging...

  • Argentina launches its first home-built satellite Thursday, 16 Oct 2014 | 5:55 PM ET

    BUENOS AIRES, Argentina— Argentina launched its first domestically built communications satellite Thursday. ARSAT-1 is designed to provide digital television and cellphone services to Argentina, Chile, Paraguay and Uruguay for the next 15 years. Other nations with this capability include European Union states, the United States, Russia, China, India, Israel...

  • Oct 16- Chicago grain and soybean futures rose on Thursday on technical buying, rebounding from losses in the previous session that were due to forecasts for favorable harvest weather in the week ahead. The CBOE volatility index, the fear gauge of financial markets, hit its highest level since November 2011 and the S&P 500 and Nasdaq briefly fell into negative...

  • *Faltering euro zone economy, slower growth in China pose biggest risks. Indeed, the biggest danger for the world economy in the coming year is deflation or another recession in the euro zone, followed closely by the risk of slower growth in China, according to polls conducted globally over the past week. "Especially, the recent weakening of growth in emerging...

  • Falling oil prices shake up global economies Thursday, 16 Oct 2014 | 3:02 AM ET

    The global price of oil closed at $84.47 per barrel Thursday, down about $31, or 27 percent, from its high point for the year. "The problem is that countries get accustomed to a certain level of income, and then spend," says Edward Chow, a senior fellow at the Center for Strategic and International Studies. Increased production in the U.S., Canada, Iraq and elsewhere made up...

  • BRASILIA/ RIO DE JANEIRO, Oct 16- An iron-ore mining company controlled by Brazilian tycoon Eike Batista filed for bankruptcy on Wednesday, the third time in a year that a unit of the former billionaire's EBX industrial group has sought protection from creditors. MMX Sudeste Mineracao SA, the company that made the petition, holds nearly all the significant...

  • BRASILIA, Oct 15- The main subsidiary of Brazilian tycoon Eike Batista's iron ore mining company MMX Mineracao e Metalicos SA filed a bankruptcy protection petition before a Brazilian court on Wednesday. MMX Sudeste Mineracao SA, the unit that holds MMX's main mining assets, made the request after negotiations with creditors and efforts to seek new investors...

  • NEW YORK, Oct 15- The cost for insuring Venezuelan sovereign debt against default or restructuring surged on Wednesday as global oil prices swooned to a 27- month low before rebounding, illustrating rising investor concerns over the OPEC member nation's ability to service its debt. In addition they would have to pay $500,000 annually, for the duration of the...

  • BUSINESS-NEWS-SCHEDULE AT 1830 GMT / 2:30 PM ET Wednesday, 15 Oct 2014 | 2:38 PM ET

    NEW YORK- Stocks plunge and the dollar slumps after the latest inflation data from the United States and China fan concerns about a global slowdown, driving investors into safe-haven government debt. -USA- ECONOMY/FED, expect by 2000 GMT/ 4 PM ET, by Howard Schneider, 350 words. WASHINGTON- The Federal Reserve is considering the use of its annual test on big banks as...

  • "The current market situation doesn't suit anyone, neither consumers nor producers," Eulogio Del Pino told an oil conference on Venezuela's Margarita Island. Venezuela is calling for an emergency meeting of the Organization of the Petroleum Exporting Countries- prior to its next scheduled Nov. 27 gathering- to halt the slide in oil prices to their lowest level...

  • CARACAS, Oct 15- After three weeks trapped inside their home, Natalie Pereira and her family made a final decision: they must leave Venezuela. Pereira, a 33- year-old dentist now living in Texas, is not alone in making that decision. Having largely but unsuccessfully voted against socialist leader Hugo Chavez during his 14- year presidency, they hoped for a change...

  • BRASILIA, Oct 14- Brazil will maintain plans to raise domestic fuel prices this year, despite a sharp drop in international crude oil prices, to help debt-laden state-run oil company Petrobras, a government source said on Tuesday. The price of gasoline on the international market has slipped below the domestic price of the fuel in Brazil, Credit Suisse said in a...

  • Mexican activist slain during radio broadcast Tuesday, 14 Oct 2014 | 6:56 AM ET

    MEXICO CITY— Two gunmen shoved their way into a radio studio and opened fire on a local activist, killing him while he was broadcasting, prosecutors in the Mexican state of Sinaloa said. Roman Tirado was a leader of about 800 families demanding compensation for being displaced by the Picachos dam. Ontiveros said Roman Tirado focused on the land dispute and other...

  • The 4 issues plaguing emerging markets     Tuesday, 14 Oct 2014 | 3:40 AM ET

    Shweta Singh, senior economist at Lombard Street, and Simon Maughan, head of research at OTAS Technologies, discuss the biggest challenges facing emerging markets.

  • Volatility will remain high as the U.S. moves to raise rates, and could pose difficulties for emerging markets, Mexico’s Finance Minister said.

  • LA PAZ, Oct 13- President Evo Morales on Monday ruled out any major new nationalizations in Bolivia following his re-election victory and said he would be "realistic" as he pursued socialist policies in his third term. Morales, an Aymara Indian and former coca grower who became Bolivia's first indigenous president in 2006, comfortably won the election on Sunday...