Business South America

  • TORONTO, Aug 23- Canada's Rusoro Mining Ltd said on Tuesday it has been awarded more than $1.2 billion by a World Bank tribunal that ruled Venezuela had unlawfully seized the company's gold assets four years ago. Shares in the Vancouver- based mining firm, which is backed by Russia's Agapov family, more than doubled on Tuesday, trading for as much as 32 cents- their...

  • NEW YORK— With government officials now warning pregnant women to avoid Miami Beach in addition to Puerto Rico, some sun seekers are desperately scrambling for a Zika-free vacation. Travel experts say families worried about Zika are now looking to Arizona and Southern California to get some sun, along with cooler weather locales such as New England and Canada.

  • CARACAS, Venezuela— President Nicolas Maduro is ordering retaliation against managers in government agencies who signed a petition to recall him from office. Socialist party leader Jorge Rodriguez said Monday that Maduro had set a 48- hour deadline for ministers to fire high-ranking public workers who added their names to a petition seeking a new...

  • Olympic swimmer Ryan Lochte lost all four of his major sponsors on Monday, including Speedo USA and Ralph Lauren Corp, following his apology for an "exaggerated" story about being robbed at gunpoint at the Rio Games. The U.S. Olympic Committee issued an apology on Thursday, and Lochte, a 12- time Olympic medalist, made his own apology on Saturday in an interview with...

  • Aug 22- Swimwear maker Speedo USA said on Monday it had decided to end its sponsorship of Ryan Lochte, two days after the U.S. Olympic gold medalist swimmer admitted to exaggerating his story about being robbed at gunpoint in Rio de Janeiro. Speedo USA said it would donate $50,000 of Lochte's fee to Save The Children, a global charity partner of Speedo USA's parent...

  • Aug 22- Swimwear maker Speedo USA said on Monday it had decided to end its sponsorship of Ryan Lochte, becoming the first company to officially terminate its endorsement of the U.S. swimmer. Speedo USA said it would donate $50,000 of Lochte's fee to Save The Children, a global charity partner of Speedo USA's parent company. "The current situation in Brazil...

  • NEW YORK— Speedo is the first major company to drop its sponsorship of swimmer Ryan Lochte. The swimsuit maker owned by PVH in New York says that it doesn't condone behavior that is counter to its values. Speedo says it is donating $50,000 from Lochte's sponsorship fee to the global charity Save the Children for children in Brazil.

  • It worked for Donald Trump and his father. And it worked for Donald Trump and his children. Long before Donald Trump was a presidential candidate, New York real estate mogul and reality TV star, he was Fred Trump's kid, sitting at his dad's knee playing with blocks as his father developed homes and postwar apartment buildings in Brooklyn and Queens.

  • CARACAS/ HOUSTON, Aug 19- Venezuelan state oil company PDVSA has begun talks with Credit Suisse AG for a possible swap of bonds due in 2017, according to sources familiar with the conversations. The oil company is due to pay in November some $2.3 billion in amortization for bonds due in 2017, an amount representing more than half of what PDVSA owes in total...

  • LIMA, Aug 18- The government of new Peruvian President Pedro Pablo Kuczynski said on Thursday that tax revenues that have slipped in recent years will start rising again as proposed tax cuts broaden the payer base. By the end of Kuczynski's term in 2021, tax revenues will have risen to 17 percent of gross domestic product from 14.7 percent last year, Prime...

  • TORONTO/ SANTIAGO, Aug 18- Canada's Kinross Gold Corp is looking to retreat from Chile and has put its main assets in that country up for sale, according to people familiar with the process. Interest has been very strong, with bids coming from mining companies from Canada, Chile and other parts of the world, the sources said. "We have received expressions of interest...

  • SAO PAULO, Aug 17- Brazil's federal auditing court TCU ordered on Wednesday the seizure of about 2.1 billion reais worth of assets from engineering firms Odebrecht SA and OAS SA and some of their executives, to recoup losses from contracts related to the country's biggest ever corruption scandal. Brasilia- based TCU said in a ruling that the decision aims to...

  • PARIS, Aug 17- Canada's Brookfield Asset Management has signed a preliminary contract to buy Brazilian engineering conglomerate Grupo Odebrecht's 70 percent stake in water and sewage group Odebrecht Ambiental, an industry source told Reuters on Wednesday. Odebrecht S.A. will cash out 3.4 billion real, he added. Odebrecht Group will retain the right to...

  • SAO PAULO, Aug 16- Banks and bondholders accounting for more than half of Oi SA's debt of 65.4 billion reais are considering proposing a 5- year grace period and lower borrowing costs to speed up the Brazilian phone carrier's in-court reorganization, a person with direct knowledge of the talks said on Tuesday. The person, who requested anonymity because the...

  • BRASILIA/ MONTEVIDEO, Aug 16- Brazil summoned Uruguay's ambassador on Tuesday after the neighboring country's foreign minister accused Brazil of trying to "buy" its vote to block Venezuela from taking the rotating presidency of the Mercosur trade bloc. In comments to lawmakers last week that were made public on Tuesday, Uruguayan Foreign Minister Rodolfo Nin...

  • BRASILIA, Aug 16- Brazil's Foreign Ministry summoned Uruguay's ambassador on Tuesday to explain comments reportedly made by Uruguay Foreign Minister Rodolfo Nin Novoa, who accused Brazil of trying to block Venezuela from taking the presidency of the Mercosur trade bloc. Uruguayan media reported that Nin Novoa said the Brazilian government tried to "buy"...

  • SAO PAULO _ Gol Linhas Aereas Inteligentes SA on Monday reported second-quarter net income of $72 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Sao Paulo- based company said it had net income of 22 cents. This story was generated by Automated Insights using data from Zacks Investment Research.

  • SAO PAULO _ Companhia Siderurgica Nacional on Monday reported a loss of $16.3 million in its second quarter. On a per-share basis, the Sao Paulo- based company said it had a loss of 1 cent. This story was generated by Automated Insights using data from Zacks Investment Research.

  • SAO PAULO/ MEXICO CITY, Aug 15- The Mexican peso strengthened on Monday to its highest level since mid-May, boosted by a rise in oil prices and bets that developed economies would continue with loose monetary policies. The real had posted its biggest daily loss in two months on Friday after interim President Michel Temer said his government would "look for an...

  • CARACAS, Aug 15- Venezuela, which holds the world's largest crude reserves, is on track to suffer its steepest annual oil output drop in 14 years as it suffers the effects of an economic crisis and years of under investment and mismanagement, according to data seen by Reuters and interviews with company sources and workers. In the 12 months to June, Venezuela's...