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  • concern@ SAO PAULO, Dec 10- Latin American currencies were mostly steady on Thursday ahead of a U.S. Federal Reserve policy meeting next week, while Brazilian stocks slipped on concern Moody's Investors Service will cut the country's debt ratings to junk. "The event of losing two investment grade ratings is widely anticipated as political crisis and...

  • SAO PAULO, Dec 9- Moody's Investors Service is studying Brazil's credit rating for a possible downgrade to junk status due to a deteriorating economy, widening fiscal deficit and increasing risks of political paralysis, the ratings agency said on Wednesday. Economic data last week showed Brazil's economy contracted 4.5 percent in the third quarter from a...

  • SAN JUAN/ NEW YORK, Dec 6- Puerto Rico may have dodged a bullet when it avoided default last week, but its decision to commandeer revenue that was supposed to meet future debt payments will invite creditor pushback and possibly lawsuits. Creditors have long criticized Puerto Rico's spending habits, and may have the ammunition to bring those complaints to court...

  • SAO PAULO, Dec 4- The Colombian peso underperformed mostly flat Latin American currencies, tracking a decline in oil prices after news that OPEC was planning to maintain its production near record highs. The group decided to increase its collective output ceiling to 31.5 million barrels per day from the previous 30 million, two OPEC sources told Reuters,...

  • On Tuesday Puerto Rico narrowly missed a formal default on $355 million worth of debt issued by its Government Development Bank by utilizing a "claw back" provision on revenues pledged to pay certain other bonds. Governor Alejandro Garcia Padilla said in testimony before a U.S. Senate Judiciary Committee on Tuesday that an imminent default "looms large."

  • An employee secures customers' orders with bubble wrap before they are shipped at the Amazon Fulfillment Center in Tracy, Calif.

    Firms contributed a better-than-expected 217,000 positions for the month, according to the latest count from ADP and Moody's Analytics.

  • SAO PAULO, Dec 1- Moody's Investors Service stripped Brazil's troubled Banco BTG Pactual S.A. of its investment grade on Tuesday as confidence in the investment bank's future and its bonds slumped following the arrest of its founder André Esteves in a corruption probe. Since Esteves' detention on Nov. 25, managing partners at BTG Pactual have sped up sales of...

  • BRASILIA, Dec 1- Moody's Investors Service downgraded Banco BTG Pactual S.A. two notches to BA2 from BAA3, striping the Brazilian investment bank of its investment grade following the jailing of its CEO and chairman in a corruption investigation. The credit rating agency said it put the bank on review for a further downgrade. "The downgrade of BTG Pactual's...

  • NEW YORK, Dec 1- Puerto Rico on Tuesday made bond payments on $355 million worth of debt maturing on Dec. 1 that was issued by its Government Development Bank by diverting revenues pledged to other debt. "The Commonwealth of Puerto Rico's Government Development Bank made full payment of debt service to its note holders today, despite its strained liquidity.

  • CHICAGO, Dec 1- Illinois will make the full $560 million December contribution to its retirement systems after the November pension payment was delayed by the state's ongoing budget impasse, a spokesman for the state comptroller said on Tuesday. A battle between Republican Governor Bruce Rauner and Democrats who control the legislature has left Illinois...

  • SAO PAULO, Nov 30- Grupo BTG Pactual SA looked to new leadership to steer it out of crisis on Monday after controlling shareholder André Esteves resigned as CEO and chairman following his jailing as part of Brazil's sweeping corruption probe. Shares and bonds in Latin America's largest independent investment bank plummeted, reflecting concerns about the...

  • SAO PAULO, Nov 30- Brazil's Grupo BTG Pactual SA looked to new leadership to steer it out of crisis on Monday after controlling shareholder André Esteves resigned as CEO and chairman following his jailing as part of the country's sweeping corruption probe. Shares and bonds in Latin America's largest independent investment bank plummeted, reflecting...

  • SAO PAULO, Nov 30- Brazilian financier André Esteves resigned as chief executive officer and chairman of Grupo BTG Pactual SA late on Sunday after he was jailed as part of a corruption probe rapidly ensnaring Latin America's largest independent investment bank. Prosecutor General Rodrigo Janot used evidence and testimony from others under investigation...

  • SAO PAULO, Nov 30- Brazilian financier André Esteves resigned as chief executive and chairman of Grupo BTG Pactual SA late on Sunday after he was jailed as part of a corruption probe rapidly ensnaring Latin America's largest independent investment bank. Prosecutors are preparing to file charges against the billionaire dealmaker, who they suspect, along...

  • SAO PAULO, Nov 30- Brazilian financier André Esteves resigned as chief executive and chairman of Grupo BTG Pactual SA late on Sunday after he was jailed as part of a corruption probe rapidly ensnaring Latin America's largest independent investment bank. It is the first time the bank has been directly implicated in the bribery scandal and the paper said...

  • SAO PAULO, Nov 27- The reliance of Brazil's Grupo BTG Pactual SA on market funding may pose an immediate challenge for new boss Persio Arida, who sought to calm clients on Friday after its shares fell for a third straight day. The São Paulo-based investment bank tapped Arida, a former president of Brazil's central bank, as acting chief executive officer following...

  • SAO PAULO, Nov 25- Brazil's Grupo BTG Pactual SA scrambled to contain fallout from the arrest of its billionaire boss on Wednesday, tapping cash reserves to cover client redemptions and announcing a stock buyback to prop up plunging shares. The moves highlighted investors' concerns whether Latin America's largest independent investment bank can thrive...

  • SAO PAULO, Nov 25- Brazil's Grupo BTG Pactual SA scrambled to contain the fallout from the arrest of its billionaire boss on Wednesday, tapping cash reserves to cover client redemptions and announcing a stock buyback to prop up its plunging share price. Ratings agency Moody's Investors Service warned the credit rating of Latin America's largest homegrown...

  • The Congress party, even though it proposed the GST when it was in government, has led an opposition blockade against the measure and is in high dudgeon after its leaders faced a series of public attacks by the BJP. "The PM has not called a single leader of the Congress party for discussion," the party's deputy leader, Rahul Gandhi, said in a speech to students in...

  • CHICAGO, Nov 24- Illinois' credit rating could move even closer to "junk" if its already large pension liability and budget deficit grow, Moody's Investors Service said on Tuesday. Moody's said growth in Illinois' chronic unpaid bill pile, a barometer of the state's structural budget deficit, "would elevate liquidity risks and add further credit pressure."