Business South America

  • Pension Secretary Marcelo Caetano told foreign journalists at a briefing in Sao Paulo that the last-minute decision to remove those categories from the constitutional amendment before submitting the proposal to Congress this week was made by more senior officials.

  • Here's what 2017 will be like for Lat-Am economies

    Firming commodity prices will provide some relief for economies in Latin America, says Kingsley Jones at Jevons Global.

  • CARACAS, Venezuela— Venezuela has unveiled six new bills set to go into circulation next week. Central Bank President Nelson Merentes said Tuesday the new higher-denomination bills would make commercial transactions easier in the country with the world's highest inflation. The new bills come as Venezuela borders on economic collapse.

  • SAO PAULO, Dec 7- MRV Engenharia SA expects to more than halve the number of failed home sales in coming months, a sign that efforts by Brazil's No. 1 low-income homebuilder to toughen terms for potential buyers will soon bear fruit, co-Chief Executive Officer Eduardo Fischer said. MRV is up 29 percent this year, in line with a broader index grouping Brazil's main...

  • BENGALURU/ LONDON, Dec 7- Global stock markets will rise further in 2017, hundreds of upbeat strategists say in a Reuters poll released on Wednesday, braving a long list of political uncertainties just as the fuel behind the historic post-financial crisis rally runs dry. The most striking shift since the last Reuters global survey- in October- is how quickly many...

  • ABU DHABI, Dec 7- OPEC's deal to cut oil production will go ahead even if Russia becomes the only non- OPEC country to commit to reduce output at a meeting this week, Nigeria said on Wednesday, while the UAE voiced optimism that other producers would participate. "Yes, we will go ahead, but we will continue to work on the rest to come onboard," Nigerian Oil Minister Emmanuel...

  • SANTIAGO CUAUTLALPAN, Mexico— Mexicans have been brewing pulque from the juice of cactus-like maguey plants for centuries, but the viscous, beer-like beverage fell out of favor starting in the 1970 s as pulque got a bad reputation as a peasant's drink. The Aztecs of Mexico's central highlands revered pulque, pronounced POOL-kay, reserving it for the highest...

  • BRASILIA, Dec 6- The president of Brazil's Senate refused on Tuesday to accept a Supreme Court injunction removing him from office, pushing the country towards a constitutional crisis as it struggles to end political gridlock and an economic recession. But following a three-hour meeting on Tuesday, the leaders of Brazil's Senate published a letter refusing...

  • CARACAS/ HOUSTON, Dec 6- Venezuela's largest refineries were operating below half capacity this week, prompting state-run oil company PDVSA to launch tenders for product imports amid the OPEC country's deteriorating infrastructure and ebbing crude production. The 645,000- bpd Amuay refinery was running at about 308,000 bpd, while the adjacent 310,000-...

  • BRASILIA, Dec 6- A Brazilian Senate committee on Tuesday approved changes in the legal framework for telecommunications companies, overhauling a concession-based model that had created uncertainty about the value of their fixed-line assets. The bill will be signed into law by President Michel Temer unless a senator calls for a vote on the Senate floor...

  • BRASILIA, Dec 6- The president of Brazil's Senate refused on Tuesday to accept a Supreme Court injunction removing him from office, pushing the country towards a constitutional crisis as it struggles to end political gridlock and an economic recession. But following a three-hour meeting on Tuesday, the leaders of Brazil's Senate published a letter refusing...

  • Dec 6- Verizon Communications Inc, the No. 1 U.S. wireless carrier, is selling 29 data centers in the United States and Latin America to Equinix Inc for $3.6 billion, as the telecom giant focuses on its core business. The data centers being sold are located in 15 metro areas, including New York, Atlanta, Chicago, Bogota and Sao Paulo. Verizon has pivoted to mobile video and...

  • BRASILIA, Dec 6- Brazil's currency and stocks seesawed on Tuesday as a Supreme Court decision to remove the Senate president because he has been indicted on embezzlement charges raised doubts about upcoming votes on the government's austerity agenda. Newspaper O Globo reported that the next president of Brazil's Senate, a member of the opposition, said...

  • Dec 6- Verizon Communications Inc, the No. 1 U.S. wireless carrier, is selling 29 data centers to Equinix Inc for $3.6 billion, as the telecom giant focuses on its core business. The data centers being sold are located in 15 metro areas in the United States and Latin America, including New York, Atlanta, Chicago, Bogota and Sao Paulo. Equinix was advised by Evercore, J.P....

  • Dec 6- Verizon Communications Inc, the No. 1 U.S. wireless carrier, has agreed to sell 29 data centers to Equinix Inc for $3.6 billion. The data centers being sold are located in 15 metro areas, including New York, Atlanta, Chicago, Bogota and Sao Paulo. The sale represents Verizon's efforts to streamline its business and follows the divestment last year of a chunk of its...

  • BRASILIA, Dec 5- Brazil's Supreme Court on Monday removed Senator Renan Calheiros as president of the Senate after the top court indicted him last week on charges of embezzlement, a court spokesman said, a move that could put the government's belt-tightening agenda in peril. The head of the Senate is the second in line after the speaker of the lower house, as Brazil...

  • BRASILIA, Dec 5- Brazil's Supreme Court on Monday removed Senator Renan Calheiros as president of the Senate after the top court indicted him last week on charges of embezzlement, a court spokesman said. The head of the Senate is the second in line after the speaker of the lower house, as Brazil does not have a vice president at the moment. The change of leadership in...

  • SAO PAULO— The government is proposing that Brazil's minimum retirement age be set at 65 as part of an overhaul to a pension system many say is unsustainable. President Michel Temer presented the pension plan to congressional and union leaders Monday night. The proposal goes to Congress on Tuesday.

  • BRASILIA, Dec 5- Brazil President Michel Temer appealed to political leaders on Monday to back his unpopular proposal to reform the country's costly pension system that would force Brazilians to work more years before being eligible for full retirement benefits. The plan, aimed at restoring fiscal discipline to in an effort to regain investors' confidence,...

  • LA PARADA, Colombia, Dec 5- Women from crisis-hit Venezuela are crossing the border in droves and selling their hair in a Colombian border town in order to afford scarce basic necessities such as food, diapers or medicines. Dozens of middlemen, known as "draggers," stand on a bridge linking San Antonio, Venezuela, to Colombia's La Parada, calling out: "We buy hair!"