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  • SAO PAULO, May 25- Usinas Siderúrgicas de Minas Gerais SA, Brazil's largest listed flat steelmaker, on Wednesday picked veteran executive Sergio Leite as its chief executive officer. Leite was elected in a board meeting in Belo Horizonte, Brazil, where the company known as Usiminas is based, according to a securities filing. Ronald Seckelmann will remain the...

  • SAO PAULO, May 25- Usinas Siderúrgicas de Minas Gerais SA has picked veteran executive Sergio Leite as its new CEO, a source briefed on the matter said on Wednesday, as the Brazilian flat steelmaker battles to turn around a business hurt by a steep recession, foreign imports and rising debt. The media office of Belo Horizonte- based Usiminas, Brazil's largest...

  • As they travel through Santa Teresa, a border-crossing port of entry and unincorporated town, they pass millions of square feet of warehouses that store steel coil, wind turbine blades and specialty glass. Now the nonprofit group that operates Santa Teresa is working to transform the area from a place where people work into one where they might put down roots.

  • RIO DE JANEIRO/ SAO PAULO, May 24- Brazilian police said on Tuesday they investigated local units of three international steelmakers in a second-straight day of raids probing graft at the country's state-controlled oil producer, Petroleo Brasileiro SA. Police and prosecutors allege that Apolo Tubulars, which is 50 percent owned by United States Steel, and...

  • WILLIAMSON, W.Va.— The Latest on the fatal shooting of ex-coal chief executive Bennett Hatfield in southern West Virginia:. Twenty-year-old Anthony Arriaga of Delphos, Ohio, appeared in court Tuesday in Lima, Ohio, about 12 hours after his arrest on a first-degree murder warrant. Arriaga is accused in Monday's shooting of Bennett Hatfield at a southern West...

  • Venezuela unraveling

    James Lockhart Smith, Head of Financial Sector Risk at Verisk Maplecroft, discusses the political and economic turmoil in Venezuela.

  • QUITO, Ecuador— Ecuadorean President Rafael Correa said he will partially privatize a state-run airline as damage from last month's earthquake compounds hardships facing the oil-dependent economy. Downplaying speculation he may seek re-election next year, Correa said he'll spend his final year in office helping Ecuador rebuild from the powerful,...

  • BRASILIA, May 24- Brazil's interim President Michel Temer said on Tuesday he would seek a constitutional amendment to curb public spending as his government unveiled a raft of austerity measures to reduce a record fiscal deficit and regain investor confidence. Temer, who was vice president under Rousseff, said a vote in Congress on Tuesday on the 2016 fiscal...

  • RIO DE JANEIRO— Brazil's acting president announced austerity measures Tuesday aimed at pulling Latin America's largest economy from its worst crisis in decades, warning that a failure to act will mean "extraordinary hardship" for future generations. Temer said the government would get an early repayment of about $28 billion from Brazil's state-run...

  • NEW YORK, May 24- Chico's FAS Inc is headed for a proxy fight with shareholder Barington Capital, as the women's apparel retailer resists the activist hedge fund's push to put two nominees on the company's board. Barington nominated its chairman and chief executive, James Mitarotonda, and industry veteran Janet Grove, who served as vice chairman of department...

  • NEW YORK, May 24- The way retirement is supposed to go is that you scrimp and save for decades while you are working, and then you get to enjoy years of luxurious, worry-free leisure. But here is a little tip: Fun does not just happen. "These costs are significant, and you absolutely have to factor them in," says Cyndi Hutchins, director of financial gerontology for Bank of...

  • Brazil in turmoil

    Marcos Troyjo, former Brazilian diplomat takes a look at what Latin America's largest economic power can do to bring stability to the country.

  • *Iraq, Nigeria need to repay debts to oil majors with oil. This has crippled the finances of countries such as Angola, Venezuela, Nigeria and Iraq and created a further division within the Organization of the Petroleum Exporting Countries. This year Angola, Nigeria, Iraq, Venezuela and Kurdistan are due to repay a total of between $30 billion and $50 billion with oil,...

  • MEXICO CITY, May 24- For two decades, Noe Sanchez sent money from California to his father in Mexico City through storefront outlets of traditional remittance firms such as Western Union. "If it goes badly, I'll cancel it and try another," said Sanchez, a 44- year-old Mexican technical support professional in Oakland. Trump threatened to impound such money...

  • Brazil's interim government rocked as key figure steps aside amid accusations he had conspired to obstruct corruption investigation.

  • BUENOS AIRES, Argentina— Brazil and Argentina will work together to help find a solution to Venezuela's political crisis, Brazil's acting foreign minister said Monday. Brazil and Argentina have an interest that includes mediation, "Brazilian Foreign Minister Jose Serra said at a news conference after meeting with Argentine President Mauricio Macri.

  • BRASILIA, May 23- Brazil's interim government was rocked on Monday by the loss of one of its key figures, Planning Minister Romero Juca, who stepped aside amid accusations he had conspired to obstruct the country's biggest-ever corruption investigation. Interim President Michel Temer was counting on Juca, a close confidant and experienced senator, to steer a...

  • MEDELLIN, Colombia _ Bancolombia SA on Monday reported first-quarter profit of $122.4 million. The Medellin, Colombia- based bank said it had earnings of 54 cents per share. Bancolombia shares have increased 33 percent since the beginning of the year.

  • BRASILIA, May 23- Brazil's Planning Minister Romero Juca said on Monday he will temporarily step down after a newspaper published recordings of him discussing plans to obstruct the country's biggest-ever corruption investigation, which includes him among its targets. The new scandal also raises fears of further political instability in Brazil less than...

  • CARACAS, Venezuela— Tire maker Bridgestone is selling its business in Venezuela after six decades in the country, the latest blue chip company to abandon the country as a result of runaway inflation and strict currency controls. Bridgestone Americas says in a statement Monday that it is selling its Venezuela assets to Grupo Corimon, a local industrialist.