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Business South America

  • SAO PAULO— Brazil president calls corruption charge against him "fiction," says no proof he received bribes.

  • RIO DE JANEIRO— In a scathing 64- page indictment, Brazil's top prosecutor described a scheming, arrogant and corrupt President Michel Temer who lined his pockets with illegal money while showing little regard for the office he represented. When Janot opened the investigation last month, the markets tanked and Brazil's real currency fell sharply against the...

  • Brazilian President Michel Temer, pictured on June 26, has been charged by the country's top prosecutor of accepting bribes.

    Lawmakers within Temer's coalition are confident they have the votes to block the two-third majority required to proceed with a trial.

  • *Group's debt rises to over $7 billion. *COFCO gaining ground in South America. LONDON/ BEIJING/ BUENOS AIRES, June 26- As the world trade in farm commodities faces a shake-up, one the groups widely expected to play a leading role- China's COFCO- will probably have sit out the industry consolidation after all.

  • CHICAGO/ BRASILIA, June 23- Brazil scrambled to shore up its beef industry's reputation on Friday after the United States blocked shipments of fresh cuts, saying it found abscesses in the meat and signs of systemic failure of inspections in the world's largest beef exporter. He said USDA approval for Brazil's fresh beef, which was only granted last year, was...

  • CHICAGO/ BRASILIA, June 23- Brazilian officials scrambled to shore up their beef industry's reputation on Friday after the United States blocked shipments of fresh cuts, saying it found abscesses in the meat and signs of systemic failures in the inspection program of the world's largest beef exporter. While fresh beef shipments to the United States represent...

  • SAO PAULO, June 23- Brazil's state-controlled oil company Petrobras said on Friday it has resumed negotiations with Sete Brasil Participações SA over vessel contracts.

  • SAO PAULO, June 23- Brazil's agriculture minister prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns about the image of the world's largest beef exporter. The U.S. Department of Agriculture's ban dealt a setback to Brazil's recently opened fresh beef...

  • The breakeven price at the Loma Campana field is $43 per barrel and falling while development costs are $12.90 per barrel and expected to fall to $10 next year, said Pablo Bizzotto, executive manager at YPF's unconventional resources unit. "Ten dollars is world-class compared with the Permian" shale field in Texas, he told reporters this week during a tour of...

  • SAO PAULO, June 23- Brazil's agriculture minister prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns about the image of the world's largest beef exporter. The U.S. Department of Agriculture's ban dealt a setback to Brazil's recently opened fresh beef...

  • SAO PAULO— Brazil's agriculture minister plans to travel to the United States to try to reverse the American ban of beef imports from Latin America's biggest country. The U.S. statement said suspension will remain in place until Brazil takes corrective action. Maggi said Brazil will fight for the U.S. market and that he plans to head a mission to the United States...

  • SAO PAULO, June 23- Brazil's Agriculture Minister Blairo Maggi prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns over the image of the world's largest exporter. But it was a setback for Brazil's recently opened fresh beef trade with the United States and...

  • SAO PAULO, June 23- The billionaire owners of Uruguay's Mega Pharma SA have hired Jefferies LLC to explore alternatives for Latin America's No. 4 pharmaceutical company, which could include debut bond and stock offerings, two people with knowledge of the matter said. Both the Struengmanns and Mega Pharma, which has $1 billion in annual revenue and 10 factories...

  • The USDA had "recurring concerns about the safety of the products intended for the American market," after increasing tests on Brazilian beef in March, according to a statement. The USDA's action threatens the reputation of meat from Brazil, the world's top exporter of beef and poultry, even though the United States is not a top customer. "Product was already on the...

  • RIO DE JANEIRO— In a major blow to Brazil, the United States on Thursday announced the immediate suspension of all imports of beef products from Latin America's largest nation because of safety concerns. Agriculture Secretary Sonny Perdue came three months after a major scandal into allegations of bribed meat inspectors shook Brazil's meat industry and...

  • The USDA had "recurring concerns about the safety of the products intended for the American market," after increasing tests on Brazilian beef in March, according to a statement. The USDA's action threatens the reputation of meat from Brazil, the world's top exporter of beef and poultry, even though the United States is not a top customer. "Product was already on the...

  • SAO PAULO, June 22- Petróleo Brasileiro SA is reviving an initial public offering of fuel distribution unit BR Distribuidora to cut the Brazilian state-controlled oil company's debt and investment in low-return activities, Chief Executive Officer Pedro Parente said on Thursday. Pedro Parente said at an event in São Paulo that a proposal would be...

  • BRASILIA, June 22- Brazil's Supreme Court ruled on Thursday it has the right to reject plea bargains made in corruption probes, potentially undercutting investigations that have threatened President Michel Temer's government, prosecutors said. "The full court cannot change the terms of a plea bargain if all its terms were met," said Justice Luiz Fux.

  • PARAMARIBO, Suriname— A gold mine in Suriname that is majority-owned by a Canadian company says four people were injured when independent miners tried to occupy a portion of its concession in the South American company. The Rosebel Gold Mine says about 100 independent miners occupied an area known as the Roma Pit for about four hours until they were dispersed...

  • *Qatar Airways interested in buying 10 pct of American Airlines. *Qatar Airways says will first buy 4.75 pct. The move by Qatar Airways would expand its investments in North America as Qatar is embroiled in the region's worst diplomatic crisis in years and is locked in an airspace rights row with three other Gulf states.