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Latin America

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  • Argentina peso sags to 15 a dollar on black market Wednesday, 17 Sep 2014 | 6:20 PM ET

    BUENOS AIRES, Argentina— The value of Argentina's peso has hit its lowest level ever on the black market. That's far cheaper than the official exchange rate, which closed at 8.4 pesos per dollar.

  • CARACAS, Sept 17- Venezuelan bonds tumbled on Wednesday following a ratings downgrade by Standard& Poor's that cited concerns about inflation, recession and deteriorating capacity to pay. The OPEC nation's benchmark Global 27 bond fell 3.83 percent in price to bid 70.855 with a yield of 14.234.

  • FedEx units to raise shipping rates from January Tuesday, 16 Sep 2014 | 5:34 PM ET

    Sept 16- FedEx Corp, the world's No.2 package delivery company, said it would increase shipping rates for its express, ground and freight services, effective Jan. 5, 2015. The rate change applies to FedEx freight shipments within the United States, Canada and Mexico as well as between the U.S. and Canada and between the U.S. and Mexico, FedEx said.

  • *Japan production capacity at 28- year low. TOKYO, Sept 17- Mazda Motor Corp has returned to profit as the falling yen has rewarded the carmaker's export-heavy strategy. "Companies are not that interested in expanding capacity in Japan," said Kaori Yamato, senior economist at Mizuho Research Institute.

  • BUENOS AIRES, Sept 16- Argentina called in the United States' top diplomat in the country on Tuesday to express its "deep indignation" over a local newspaper interview in which he made reference the South American country's latest debt default.

  • MEXICO CITY, Sept 16- Tropical storm Polo could become a hurricane off Mexico's Pacific Coast on Thursday the U.S. National Hurricane Center said on Tuesday. On Tuesday morning Polo was about 275 miles south of Mexico's famous beach resort of Acapulco and moving in a northwest direction at 12 miles per hour, the NHC said.

  • SAO PAULO, Sept 16- Nextel operator NII Holdings Inc is hanging on to its Brazilian unit even though the welterweight mobile carrier has filed for bankruptcy protection in the United States and sold off other Latin American operations.

  • BELO HORIZONTE/ SAO PAULO, Brazil, Sept 16- The handsome, accomplished grandson of one of Brazil's most beloved politicians, Aecio Neves has been preparing his whole life to be president, friends say. And that, paradoxically, best explains why he's languishing in Brazil's presidential election race.

  • CARACAS, Sept 16- Buses across jungle borders, boats through Caribbean waters and private flights from small airfields have become a new norm for departing Venezuela as a multi-billion dollar pay dispute turns the country into something of a' no-fly' zone.

  • Brazil's indigenous seek out city, end up in slums Tuesday, 16 Sep 2014 | 12:03 AM ET

    RIO DE JANEIRO— They huddle in a tight circle, shaking seed-filled maracas and shuffling in time to a rhythm that has pulsed through their tribes for generations.

  • RIO DE JANEIRO, Sept 15- Investors are losing interest in Brazil's oil industry as the country's energy policies raise costs, reduce efficiency and increase risk, Brazil's oil industry association, the IBP, said on Monday.

  • BEIJING/ NAGOYA, Japan, Sept 16- Toyota Motor Corp is reconsidering a move to open a new compact car assembly plant in Mexico after company President Akio Toyoda told planners searching for a site to pause and review its rationale, executives familiar with the matter said.

  • Locals, tourists ride out Hurricane Odile in Baja Monday, 15 Sep 2014 | 8:12 AM ET

    CABO SAN LUCAS, Mexico— Residents and tourists hunkered down in shelters and hotel conference rooms overnight as a powerful and sprawling Hurricane Odile made landfall on the southern Baja California peninsula.

  • Argentine debt: Appeasing the 'vultures' Monday, 15 Sep 2014 | 7:00 AM ET
    A man walks past posters with pictures of Argentina's President Cristina Fernandez de Kirchner and U.S. District Court for the Southern District of New York Judge Thomas Griesa, depicted as Uncle Sam, near the Argentine Congress in Buenos Aires.

    Sometimes the worst intentions yield the best results. And so it is, unexpectedly, with Argentine debt, says UC Berkely professor Barry Eichengreen.

  • Venezuela's newest shortage: breast implants Monday, 15 Sep 2014 | 12:03 AM ET

    CARACAS, Venezuela— Venezuela's chronic shortages have begun to encroach on a cultural cornerstone: the boob job. "The women are complaining," said Ramon Zapata, president of the Society of Plastic Surgeons. Only the U.S., Brazil, Mexico and Germany— all with significantly larger populations— saw more procedures.

  • BRASILIA, Sept 13- Brazil federal prosecutors have filed criminal charges against Eike Batista, accusing the fallen tycoon of market manipulation and seeking to freeze up to $1.5 billion reais worth of his financial assets and properties.

  • Problems seen with new Argentine debt payment law Friday, 12 Sep 2014 | 7:38 PM ET

    BUENOS AIRES, Argentina— A law designed to restructure Argentina's debt and sidestep a U.S. court ruling that pushed the government into default could be difficult to apply and worsen the country's frail economy, analysts say.

  • Mexico lifts limit on businesses' dollar deposits Friday, 12 Sep 2014 | 7:14 PM ET

    MEXICO CITY— The Mexican government will no longer limit the monthly cash deposits of U.S. dollars that border businesses can make if the companies allow authorities to monitor their financial transactions and meet other requirements, the president announced Friday.

  • MEXICO CITY, Sept 12- Mexican President Enrique Peña Nieto said on Friday limits on companies making dollar deposits in cash would be scrapped in a bid to spur trade in the border region near the United States.

  • Since entering the race in mid-August, Silva has picked a pro-agriculture congressman as her running mate, met repeatedly with agribusiness leaders and campaigned in the farm belt, eager to make allies in an industry that accounts for a quarter of Brazil's economy. The fuel price controls have gutted Brazil's once-booming sugar cane ethanol industry.