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  • SAO PAULO— Federal prosecutors on Friday filed corruption, racketeering and money laundering charges against Jose Dirceu, Brazil's former presidential chief of staff, for his alleged involvement in the massive corruption scheme at state-owned oil company Petrobras. Sixteen other people were also charged, including Joao Vaccari Neto, the former treasurer...

  • TORONTO— The Supreme Court of Canada on Friday dismissed an attempt by oil giant Chevron to block Ecuadorian villagers from using an Ontario court to collect billions in damages over rainforest pollution. The judgment was for environmental damage caused by Texaco during its operation of an oil consortium in the rainforest from 1972 to 1990. Chevron later...

  • BRASILIA, Sept 3- The Brazilian government dismissed market rumors on Thursday that Finance Minister Joaquim Levy was quitting because of disagreements over his austerity plan. Brazil's currency rebounded from 12- year lows on news that Levy was staying in the job and attending a budget meeting with President Dilma Rousseff. The budget bill, sent to Congress...

  • BEIJING/ MOSCOW, Sept 3- Russia and Venezuela need to combine efforts to lift oil prices, President Vladimir Putin told his Venezuelan counterpart Nicolas Maduro on Thursday, but refused to spell out any specific action, including output cuts. The economies of both Russia and Venezuela, two major producers, are highly dependent on proceeds from the sale of oil, the...

  • Brazil's currency rebounded from 12- year lows on news that Levy was staying in the job and attending a budget meeting with President Dilma Rousseff. The budget bill, sent to Congress on Monday, was Brazil's first-ever to forecast a primary deficit, highlighting Levy's failure to shore up federal accounts to save the country's investment-grade rating.

  • SAO PAULO— A federal judge Thursday accepted the charges filed by prosecutors against the former head of Eletronuclear, the state-owned company that operates Brazil's two nuclear power plants, for his suspected role in a bribery scandal. Judge Sergio Fernando Moro said in a statement that he also accepted the charges filed against 14 others, including Flavio...

  • BEIJING/ MOSCOW, Sept 3- Russia and Venezuela need to combine efforts to lift oil prices, President Vladimir Putin told his Venezuelan counterpart Nicolas Maduro on Thursday, but refused to spell out any specific action, including output cuts. The economies of the two major producers are highly dependent on proceeds from the sale of oil, the price of which has...

  • BUENOS AIRES, Sept 3- The El Nino weather phenomenon is expected to start dumping torrential rains on Argentina next month, pushing farmers to plant more low-cost soy and less corn despite concern over lack of crop rotation in one of the world's main food suppliers. Argentina, the No. 1 exporter of soymeal livestock feed which is fuelling a shift in diet away from...

  • BRASILIA, Sept 3- Brazilian Finance Minister Joaquim Levy on Thursday canceled his trip to the G20 summit in Turkey to meet with President Dilma Rousseff about a 2016 budget bill later in the day, two government officials told Reuters. Brazil's currency rebounded from 12- year lows on the news, firming 0.6 percent in afternoon trading. Planning Minister Nelson...

  • BRASILIA, Sept 2- Brazil's central bank halted one of the world's boldest rate-hiking cycles on Wednesday, taking pressure off an economy struggling with recession even amid concerns that a looming budget crisis could stoke inflation. "What happened in the last 10 days is that there was an increase in uncertainty, but apparently they thought best to wait and see...

  • BRASILIA, Sept 2- Brazil's President Dilma Rousseff criticized ride-sharing software Uber on Wednesday for increasing unemployment, adding to a chorus of labor concerns about the world's most valuable venture-backed start-up. Rousseff said local authorities must regulate the service, which has led conventional taxi drivers to stage protests and lobby...

  • BUENOS AIRES, Argentina— Argentina's central bank has ordered HSBC's local unit to name a new president and vice president for failing to prevent money laundering and tax evasion. Argentina's tax agency had charged HSBC bank in November with helping more than 4,000 Argentines evade taxes by placing their money in secret Swiss accounts.

  • BRASILIA, Sept 2- Brazilian President Dilma Rousseff criticized ride-sharing app Uber on Wednesday for adding to unemployment, but she said each city had to decide how to deal with the service that has riled conventional taxi drivers. Brazil's three major cities Sao Paulo, Rio de Janeiro and Brasilia have all moved to ban the mobile app developed by Uber...

  • SAO PAULO— Odebrecht, Brazil's biggest construction company, has been convicted of submitting workers to slave-like conditions at a sugar and ethanol plant being built in Angola, prosecutors said Wednesday. The statement said that Odebrecht lured Brazilian workers to Angola where subsidiaries based in the African country forced them to work without...

  • BRASILIA, Sept 2- Brazil is likely to halt one of the world's most aggressive rate-hiking cycles on Wednesday, sparing more suffering to a contracting economy despite fears a deepening fiscal crisis could keep inflation high. Still, President Dilma Rousseff's inability to plug a widening fiscal deficit that threatens Brazil's investment-grade rating is...

  • UPDATE 1-Brazil's factory output tumbles in July Wednesday, 2 Sep 2015 | 9:00 AM ET

    BRASILIA, Sept 2- Brazilian industrial output sank at a much steeper pace than expected in July, portraying a deeper recession after a string of interest rate increases, tax hikes and spending cuts by President Dilma Rousseff's government. Industrial production in Brazil fell 1.5 percent in July from June, the sharpest rate of decline since the beginning of the...

  • Brazil poised to end rate hikes as economy sinks Wednesday, 2 Sep 2015 | 1:00 AM ET

    BRASILIA, Sept 2- Brazil is likely to halt one of the world's most aggressive rate-hiking cycles on Wednesday, sparing more suffering to a contracting economy despite fears a deepening fiscal crisis could keep inflation high. Still, President Dilma Rousseff's inability to plug a widening fiscal deficit that threatens Brazil's investment-grade rating is...

  • CARACAS, Sept 1- Venezuela and China have signed a deal for a $5 billion loan designed to increase the OPEC country's oil production, Venezuelan President Nicolas Maduro said. A source at Venezuelan state-run oil company PDVSA told Reuters in March that China was set to extend a "special" $5 billion loan that would likely stipulate hiring Chinese companies to...

  • CARACAS, Venezuela— Venezuelan President Nicolas Maduro says China has agreed to provide a $5 billion loan to boost oil production. China is Venezuela's largest creditor and has loaned it more than $40 billion during the last five years, much of which has been paid back with oil. Venezuela sells China more than 600,000 barrels of oil a day.

  • SAO PAULO— Police on Tuesday asked prosecutors to file charges against Brazil's former presidential chief of staff, Jose Dirceu, for alleged involvement in the massive corruption scheme at state-owned oil company Petrobras. Dirceu is the most senior member of the ruling Workers' Party to be taken into custody in connection with the scheme.