Latin America


  • Brazil enters recession in run-up to election Friday, 29 Aug 2014 | 11:27 PM ET

    Brazil suffered a recession in the first half of the year as investment plunged and the country's hosting of the World Cup suffocated economic activity.

  • SAO PAULO, Aug 29- Opposition presidential candidate Marina Silva said on Friday that Brazil's recession is very worrying and her government would work to restore the credibility of the country's economic policies to recover investment and growth if elected. It also called for an overhaul of Brazil's complex and onerous tax system.

  • Mexico's Pemex says production to increase in 2015 Friday, 29 Aug 2014 | 4:14 PM ET

    MEXICO CITY— Mexico's state-owned oil company Petroleos Mexicanos estimates its crude production will increase to 2.4 million barrels per day in 2015, compared with the 2.35 million barrels per day it expects to produce this year, a company official said Friday.

  • BRIC wall: Brazil's economy slips into a recession Friday, 29 Aug 2014 | 9:38 AM ET

    RIO DE JANEIRO— Brazil's economy, once an emerging-market darling, fell into recession, according to government data released Friday, as millions of new middle class citizens tightened their belts and further dampened a credit-driven spending spree.

  • Rescuers race to reach trapped miners in Nicaragua Friday, 29 Aug 2014 | 9:25 AM ET

    BONANZA, Nicaragua— Rescuers in Nicaragua raced Friday to reach at least 24 freelance gold miners trapped by a landslide, including 20 who have been located and have managed to communicate with emergency crews.

  • SAO PAULO, Aug 29- Brazil suffered a recession in the first half of the year as investment plunged and the country's hosting of the World Cup suffocated economic activity, a major blow to President Dilma Rousseff's already diminishing hopes for reelection in October.

  • Brazil dismantles large deforestation gang Friday, 29 Aug 2014 | 7:16 AM ET

    SAO PAULO— The "largest deforestation gang" active in Brazil's Amazon rain forest has been dismantled, authorities said Thursday. According to the statement, the group allegedly is responsible for the destruction of 38,000 acres of rain forest, an area equivalent to the size of the British Virgin Islands.

  • Opposition strike has mixed results in Argentina Friday, 29 Aug 2014 | 7:14 AM ET

    BUENOS AIRES, Argentina— Labor groups opposed to Argentine President Cristina Fernandez staged their second general strike of the year Thursday, disrupting life in the capital and other parts of the country as many people stayed away from work and union demonstrators blocked streets to call for higher wages and lower taxes.

  • Ecuador heralds digital currency plans Friday, 29 Aug 2014 | 12:02 AM ET

    QUITO, Ecuador— Ecuador is planning to create the world's first government-issued digital currency, which some analysts believe could be a first step toward abandoning the country's existing currency, the U.S. dollar, which the government cannot control.

  • The subpoenas are aimed at a US $4.7 bn facility provided by China Development Bank, ICBC and BOC to finance the construction of two hydroelectric dams in Patagonia and a US $2.1 bn loan from China Development Bank and ICBC to finance the Belgrano Cargas railway project.

  • BRASILIA, Aug 28- Brazil's finance minister waded into the country's presidential campaign on Thursday, warning that an opposition victory in the October election could push the economy into recession and undo a decade of social gains under the ruling Workers' Party.

  • Official: Bidders compete for Uruguay pot business Thursday, 28 Aug 2014 | 12:56 PM ET

    MONTEVIDEO, Uruguay— Uruguay's new market for legalized marijuana has attracted at least 20 companies bidding for the right to supply pot to the country's pharmacies, a government official said Thursday.

  • Argentina, Malaysia in deal to develop oil field Thursday, 28 Aug 2014 | 12:40 PM ET

    BUENOS AIRES, Argentina— State-run Argentine oil company YPF SA said Thursday it has reached a deal with Malaysia's Petronas to develop what is believed to be massive deposits of shale oil and gas in the vast Vaca Muerta formation in Patagonia.

  • *Telefonica wins out with higher bid than Telecom Italia. PARIS, Aug 28- French media company Vivendi picked Telefonica for exclusive talks over the sale of its Brazilian broadband unit GVT, spurning a rival bid from Telecom Italia. Vivendi's decision deals a blow to Telecom Italia.

  • TOKYO, Aug 28- Japan Airlines Co said on Thursday it has agreed to buy 32 Mitsubishi Regional Jets worth around $1.5 billion, giving Japan's first domestically manufactured commercial passenger plane in half a century a needed sales boost.

  • Uruguayans can now sign up to grow pot at home Thursday, 28 Aug 2014 | 7:09 AM ET

    MONTEVIDEO, Uruguay— People in Uruguay who want to grow their own marijuana at home were able to register to do so Wednesday as the government launched the latest phase in its first-of-its-kind legalization program.

  • DETROIT, Aug 27- General Motors Co and the United Auto Workers on Wednesday trumpeted the news that production of the Cadillac SRX would be shifted from Mexico to Tennessee, but Reuters has learned that GM also plans to move some other assembly work in the opposite direction.

  • DETROIT, Aug 27- General Motors Co is shifting some production of the Cadillac SRX from Mexico to Tennessee, but will partly offset that by moving some Chevrolet Equinox manufacturing from Tennessee to Mexico, an industry source told Reuters.

  • South Korea's Kia to invest $1 billion in Mexico Wednesday, 27 Aug 2014 | 4:58 PM ET

    MEXICO CITY— South Korea's Kia Motors Corp. said Wednesday it will invest more than $1 billion to build a car factory in northern Mexico that is expected to begin production in 2016..

  • RIO DE JANEIRO/ PARIS, Aug 27- Brazil's Grupo Oi SA unveiled plans on Wednesday to take over Telecom Italia's local mobile unit, in a move sources said was aimed at breaking up the country's second-biggest wireless carrier and upstaging merger bids by foreign rivals.