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  • Report: Ford to build auto plant in Mexico Sunday, 7 Feb 2016 | 6:26 PM ET

    NEW YORK— Published reports are saying that Ford plans to build a new auto plant in Mexico, with plans to rev up production there. According to The Wall Street Journal, Ford plans to build a new assembly complex in San Luis Potosi and expand an existing facility near Mexico City. The move reflects how Mexico has become an attractive place for global carmakers.

  • Venezuelan default: Worse than Argentina? Sunday, 7 Feb 2016 | 1:00 PM ET
    Students take part in a rally against President Nicolas Maduro's government in Caracas on Nov. 21, 2015.

    Markets are bracing themselves for the prospect of a calamitous debt default in Venezuela, which may be worse than Argentina's 2001 crisis.

  • UNITED NATIONS, Feb 6- The United Nations Security Council will hold an emergency meeting on Sunday to discuss the North Korean rocket launch as requested by United States, Japan and South Korea, the U.N. press office said. The closed-door consultations of the 15- nation council on North Korea will take place at 11 a.m. ET, the United Nations said in a statement on...

  • BUENOS AIRES/ NEW YORK, Feb 6- Investors on Saturday praised the speed with which new Argentine President Mauricio Macri made a cash offer to holders of defaulted bonds aimed at ending a long and bitter dispute that has strangled government finances. A financial markets pariah since defaulting on a record $100 billion in 2002, Argentina proposed on Friday a...

  • Investors welcome Argentina's swift offer to holdouts Saturday, 6 Feb 2016 | 12:14 PM ET

    BUENOS AIRES/ NEW YORK, Feb 6- Investors on Saturday praised the speed with which new Argentine President Mauricio Macri tabled a cash offer to holders of defaulted bonds aimed at ending a long and bitter dispute that has strangled government finances. A financial markets pariah since defaulting on a record $100 billion in 2002, Argentina proposed on Friday a...

  • Argentina in $6.5B offer to debt holdouts Saturday, 6 Feb 2016 | 6:13 AM ET
    Argentine peso bills

    Argentina has offered to pay about $6.5bn in cash to US holdouts, in an attempt to put an end to a decade-long legal dispute. The FT reports.

  • NEW YORK/ BUENOS AIRES, Feb 5- Argentina offered a $6.5 billion cash payment to creditors who hold its defaulted bonds on Friday, seeking to end a festering legal battle that transformed the country into a financial markets pariah. The turning point in the decade-long legal fight stemming from Argentina's record default on around $100 billion in 2002 comes less...

  • NEW YORK, Feb 5- Argentina's Finance Secretary Luis Caputo said he was returning to Buenos Aires from New York where he held groundbreaking talks this week with creditors suing the South American country over unpaid debt. Caputo made a proposal earlier on Friday to creditors that, if accepted, could end their decade-long battle in U.S. courts with Argentina and...

  • NEW YORK/ BUENOS AIRES, Feb 5- Argentina made a formal debt payment offer to U.S. creditors who hold its defaulted bonds on Friday, seeking to end a more than decade-long legal battle that transformed the South American country into a financial markets pariah. The offer, which asks creditors to take a reduced payment, followed five days of talks in New York between...

  • BUENOS AIRES, Feb 5- Argentina's new President Mauricio Macri and his finance minister showed "courage and flexibility" in dealing with the country's legal battle with creditors, the U.S. court-appointed mediator in the case said on Friday. Argentine officials in New York for talks with the creditors made a proposal on Friday to end the dispute, mediator Daniel...

  • BUENOS AIRES, Feb 5- Argentina presented a proposal on Friday to creditors to end their battle in U.S. courts over debt the country defaulted on in 2002, the Finance Ministry said in a statement. "The proposal implies a 25 percent cut" of the amount awarded by U.S. courts, the ministry said, after five days of closely watched talks in New York between Finance Secretary...

  • NEW YORK/ BUENOS AIRES, Feb 5- The mediator in Argentina's decade-long legal battle with creditors over unpaid debt said he would issue a "significant statement" later on Friday after presiding over a week of intense talks in New York between the two sides. Argentina restructured nearly 93 percent of its defaulted debt in 2005 and 2010 swaps that gave creditors 25...

  • SAO PAULO, Feb 5- Itaú Unibanco Holding SA, Brazil's largest private-sector bank, has for years traded at a premium to rival Banco Bradesco SA but many investors are betting the gap will narrow amid sharply diverging outlooks from the lenders. With Brazil facing its longest recession in a century, the banks' share prices will depend on how they navigate a slew of...

  • SAO PAULO, Feb 5- U.S. power utility AES Corp, Italy's Enel and several Brazilian rivals have shown preliminary interest in buying state-controlled power distributor Centrais Elétricas de Goiás SA, a group organizing the sale and a source briefed on the plan said. According to a website created by Brazil's Eletrobras, which has a controlling stake at Celg-D,...

  • RIO DE JANEIRO, Feb 5- Brazilian government health institute Fiocruz said on Friday it had discovered for the first time active Zika virus in saliva and urine samples and would investigate the possible transmission of the mosquito-borne virus through bodily fluids. Fiocruz made the discovery after analyzing samples from two patients and carrying out a...

  • SAO PAULO/ NEW YORK, Feb 5- Gávea Investimentos Ltda, the hedge fund run by former Brazilian central bank president Arminio Fraga, is doubling down on contrarian bets on Mexico's currency and against Brazil's, a sign that disparities between Latin America's two biggest economies will grow faster. Gávea also kept bets against the currencies of Thailand, South...

  • Mosquito repellant sales boom in Brazil amid Zika scare Thursday, 4 Feb 2016 | 11:22 PM ET

    Following the detection of Zika in April, sales of repellant in Brazil rose by one-third last year, according to consumer research firm Nielsen, doubling revenue for the sector to $55.7 million. Brazil's biggest retailer, the Pao de Acucar Group, said supermarket sales of repellant were up 120 percent in the first weeks of 2016, compared to the same period a year...

  • SINGAPORE, Feb 5- Chicago wheat ticked higher on Friday on bargain-buying, but remained on track for its biggest weekly decline since late December as U.S. shipments struggle to find buyers. Soybeans rose, snapping two sessions of decline, although prices were capped by forecasts of improved weather conditions in Argentina. *Corn and soybean futures have felt...

  • Feb 4- The chief executive officer of LAN Airlines will pay a $75,000 fine to settle charges that he authorized improper payments to Argentina union officials to persuade them to ease their demands in a labor dispute, the U.S. Securities and Exchange Commission said on Thursday. According to the SEC, Cueto authorized wiring $1.15 million to a Virginia brokerage...

  • MEXICO CITY— A Mexican court has issued an injunction blocking further work on a real estate project in the Caribbean coast resort of Cancun that activists say has almost killed a mangrove swamp at the site. But environmentalist Araceli Dominguez expressed hope after the order was announced Wednesday that the mangrove can be recovered now that a court has...