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  • Auto industry acts globally _ except on recalls Wednesday, 24 Dec 2014 | 3:01 AM ET

    Six years ago, Honda began recalling driver's side air bags in the U.S. The air bags, made by Japanese supplier Takata Corp. at a now-shuttered plant in Georgia, can inflate with too much force, spewing shrapnel into the vehicle. But it wasn't until November of this year— after the death of a driver in Malaysia— that Honda recalled driver's side air bags in small cars...

  • Venezuela currency controls make Scotch cheap Tuesday, 23 Dec 2014 | 7:55 PM ET

    Venezuela's currency controls give consumers cheap Scotch and Barbies, even as they struggle with shortages of staple products such as milk and medicine.

  • Scotch is cheap, syringes go short in Venezuela Tuesday, 23 Dec 2014 | 2:00 PM ET
    People look for a barbie doll at a toy store in Caracas, Venezuela.

    While Venezuela subsidizes Scotch and Barbie dolls with currency controls, medical supplies and consumer staples are in short supply.

  • CARACAS, Dec 23- Venezuelan shoppers line up outside a Caracas liquor store to buy bottles of Buchanan's 12- year Scotch whisky at half the usual cost, a deal made possible by a state subsidy that gave cheap dollars to import them. The same subsidy, provided under the country's three-tiered exchange control system, helps a Caracas merchant do thriving business in...

  • Nicaragua canal developer HKND plans IPO -CEO Tuesday, 23 Dec 2014 | 12:11 PM ET

    MANAGUA, Dec 23- The Hong Kong- based company with a concession to build a $50 billion shipping canal in Nicaragua said on Tuesday it is preparing to launch an initial public offering. Wang Jing, Chairman and Chief Executive of the HK Nicaragua Canal Development Investment Co Ltd, told reporters in Managua that he hoped the listing would take place in the stock...

  • Medellin's Christmas lights dazzle in Colombia Tuesday, 23 Dec 2014 | 7:06 AM ET

    MEDELLIN, Colombia— Medellin for Christmas vacation? The lights can be seen primarily in eight areas of the city: Cerro Nutibara, La Playa Avenue, East Avenue, Carabobo, San Juan, Junin, 70 North Street and Las Palmas. After all, Colombia's most notorious outlaw, drug kingpin Pablo Escobar, was assassinated more than 20 years ago.

  • Poverty, violence push Honduran children to work Tuesday, 23 Dec 2014 | 12:01 AM ET

    TEGUCIGALPA, Honduras— Roberto Castellanos has the hands of a construction worker and the homework of a 6th grader. The alternative, they say, is less food at home and an idleness that makes them easy prey for street gangs that control much of Tegucigalpa, the capital of Honduras. In Honduras, an estimated 500,000 kids hold jobs— about 15 percent of the youth...

  • NEW YORK/ SANTIAGO- A former board member of Chile's CFR Pharmaceuticals SA was charged on Monday by U.S. regulators with insider trading on information regarding Abbott Laboratories' $2.9 billion acquisition of CFR earlier this year. Hurtado earned nearly $500,000 in profits, according to the SEC. According to the SEC, Bilbao first learned of Abbott's...

  • Nicaragua breaks ground on historic canal project Monday, 22 Dec 2014 | 2:42 PM ET

    MANAGUA, Nicaragua— Nicaraguan officials and a Chinese company broke ground Monday on a $50 billion transoceanic waterway predicted to rival the Panama Canal, but which has been a source of anger and protests from citizens in recent weeks. President Daniel Ortega, with Wang Jing, president of the contracting firm HKND Group, said the canal will change the...

  • BRASILIA, Dec 22- Brazil's President Dilma Rousseff said on Monday she has no plans to replace the chief executive officer of state-run oil firm Petrobras, saying there was no evidence that senior management was involved in a graft scandal at the company. Speaking at a year-end breakfast with reporters in Brasilia, Rousseff also said she will take "drastic"...

  • BRASILIA, Brazil— President Dilma Rousseff on Monday sharply defended the chief executive officer of the Brazil's state-run oil company despite allegations she was told years ago about some of the irregularities that are ballooning into the nation's biggest corruption scheme yet. Rousseff said that Maria das Gracas Foster, the first female head of a major...

  • Cuba, the 52nd state? One CEO says maybe Monday, 22 Dec 2014 | 8:51 AM ET
    Doug Oberhleman, chairman and CEO of Caterpillar.

    Caterpillar chief Doug Oberhelman tells CNBC he sees big opportunities in Cuba, and maybe in a few years Cuba could be like Puerto Rico.

  • Immigrants line up for Arizona driver's licenses Monday, 22 Dec 2014 | 3:04 AM ET

    PHOENIX— Young immigrants protected from deportation under an Obama administration policy began getting Arizona driver's licenses Monday for the first time. Arizona was one of the last states in the country where officials refused to issue driver's licenses to young immigrants who were brought to the U.S. illegally as children but allowed to remain under...

  • Rising anger as Nicaragua canal to break ground Sunday, 21 Dec 2014 | 9:31 AM ET

    RIO GRANDE, Nicaragua— As a conscripted soldier during the Contra War of the 1980 s, Esteban Ruiz used to flee from battles because he didn't want to have to kill anyone. Ruiz's property on the banks of Nicaragua's Rio Grande sits in the path of a $50 billion transoceanic waterway set to break ground on Monday. Whether or not landowners do actually take up arms,...

  • Booking that Cuba trip? Not so fast: CFR chief Sunday, 21 Dec 2014 | 9:02 AM ET

    Will Americans be rushing back to Cuba in the wake of the most significant thaw in 50 years? Not so fast, says one expert.

  • BRASILIA/ SAO PAULO, Dec 19- Brazil pledged on Friday to suspend financial support for state development bank BNDES next year, marking a major policy shift that will help trim billions of reais in subsidies that have weighed down public finances. The decision was announced by Paulo Rogerio Caffarelli, the finance minister's No. 2 official, at the end of a...

  • DETROIT, Dec 19- General Motors Co has developed contingency plans in case recalls of potentially lethal Takata- made air bag inflators widens, forcing the U.S. automaker to repair millions of vehicles, the company said on Friday. GM's plans include directing Takata to share with rivals TRW and Autoliv the No. 1 U.S. automaker's air bag specifications and data so...

  • MEXICO CITY, Dec 19- Mexico's state oil company Pemex is renegotiating service contracts worth hundreds of millions of dollars in a drive to cut costs as it grapples with falling crude prices, its chief executive said. Mexico's main crude export mix is worth even less, trading around $51 a barrel on Friday, while Pemex's average production costs are about $22 per...

  • BUENOS AIRES, Dec 19- Argentine farmers will increase protests ahead of presidential elections in October 2015 to push candidates toward reforming policies that growers say are killing their profits, said Omar Principe, the new head of one of the country's main farm groups. Principe, named head of the Argentina Agrarian Federation earlier this month, said...

  • Global oil impact: Who's hurting, happy, hopeful Friday, 19 Dec 2014 | 1:12 PM ET

    Russia's currency has nose-dived, for instance, and investors worry Venezuela could default on its debt. The world's four biggest economies— U.S., China, Japan and that of the European Union— all benefit from lower oil prices. "Economically this is a good thing for the U.S., it's a good thing for Europe, it's a good thing for China and it's a good thing for most consumers,"...