Business South America

More

  • LIMA/ WASHINGTON, Feb 3- Peru is in talks with the World Bank to secure two new credit lines that may be used to help Lima weather fiscal pressures brought on by the collapse of commodity prices, Peruvian government and World Bank sources said on Wednesday. Amounts for the three-year loan facilities could not be disclosed as discussions are continuing and the...

  • SAO PAULO, Feb 3- Logistics firm Hidrovias do Brasil plans to start exporting from a new grain terminal in the Brazilian Amazon in July, serving international merchants, CEO Bruno Serapião said. Commodities traders Noble Agri and Holland's Nidera, both controlled by Chinese food giant COFCO, as well as Multigrain, a Brazilian subsidiary of Japan's Mitsui,...

  • BOGOTA, Feb 3- Additional increases in Colombia's benchmark interest rate are necessary to anchor inflation expectations, central bank board member Carlos Gustavo Cano said on Wednesday, as the country grapples with rising consumer prices. "In my opinion we haven't finished this phase of adjustments, we need more adjustments, they are necessary, inevitable,"...

  • BUENOS AIRES, Feb 3- Argentine power distributor Edenor has said that the jump in power rates announced last week will not significantly alter the firm's revenue flows as the increase in tariff paid by the consumer replaces a government subsidy. The energy ministry last week set new seasonal prices charged to distributors in the wholesale electricity market...

  • SAN FRANCISCO— Yahoo is laying off about 1,700 employees and shedding some of its excess baggage in a shake-up likely to determine whether CEO Marissa Mayer can save her own job. The long-anticipated purge, announced Tuesday, will jettison about 15 percent of Yahoo's workforce along with an assortment of services that Mayer decided aren't worth the time and...

  • GENEVA/ PARIS, Feb 2- The Zika virus could spread to Africa, Asia and southern Europe, the World Health Organization said on Tuesday, as major French drugmaker Sanofi SA and others joined the race to create a vaccine. A day after Geneva- based WHO declared an international public health emergency due to Zika's association with the birth defect microcephaly in...

  • *Ankara aims for $30 bln in trade with Iran by 2023. ISTANBUL, Feb 2- The lifting of sanctions against Iran may be a mixed blessing for Turkey, opening up access to a fast-growing, lucrative market, but one that could someday rival Ankara as both an investment destination and exporter. NATO- member Turkey remains the region's economic powerhouse, with output of nearly...

  • Oil has fallen from $107 to around $30 in the past 19 months. Furious production by the U.S. and OPEC led to an oversupply. In a recent research note, Goldman Sachs predicted "the path to a rebalanced market will be protracted and arduous."

  • BUENOS AIRES, Feb 2- Argentina has reached a preliminary deal with a group of Italian creditors who hold unpaid sovereign debt stemming from Argentina's record $100 billion default in 2002, Finance Minister Alfonso Prat-Gay said on Tuesday. On Monday evening, Daniel Pollock, the New York- based mediator in the debt talks said the unresolved claims totaled...

  • BUENOS AIRES, Feb 2- Argentina has reached a preliminary deal with Italian holders of its defaulted debt, Finance Minister Alfonso Prat-Gay said on Tuesday. "We have reached a pre-agreement to settle the unpaid debt worth about $900 million," Prat-Gay told a news conference. The bonds held by the Italian creditors amounts to about 15 percent of the outstanding...

  • The Chilean Health Ministry says all three Zika cases reported Tuesday were contracted outside Chile. It says one person was infected while traveling in Venezuela, one in Colombia and one in Brazil. The World Health Organization says Zika is likely to spread to every country in the Americas where the Aedes aegypti is found.

  • NEW YORK/ BUENOS AIRES, Feb 1- Argentina's government returned to debt talks in New York on Monday, expecting to make an offer this week to U.S. creditors suing over unpaid bonds hoping to resolve a decade-long stand-off that has locked the country out of global capital markets. Newly elected President Mauricio Macri told Reuters at the World Economic Forum in...

  • *Soy, corn down as Argentina weather forecasts improve. Corn and soybeans also fell as macroeconomic worries hung over the market and on some forecasts for much-needed rains in Argentina next week. "The bottom line is, world competition for wheat continues to be pretty stiff, and we are not getting any," said Tom Fritz, a partner with EFG Group in Chicago.

  • One industry's shares try to recover from Zika Monday, 1 Feb 2016 | 12:47 PM ET
    A worker fumigates the Sambadrome ahead of Carnival celebrations in Rio de Janiero, Brazil, on Tuesday, Jan. 26, 2016. The operation is part of the Health Ministry's efforts to eradicate the Aedes aegypti mosquito, which is thought to spread the Zika virus being blamed for causing birth defects.

    Tourism and travel-related stocks have taken a hit from worries surrounding the Zika virus.

  • Zika's effect on cruises Monday, 1 Feb 2016 | 11:36 AM ET
    Zika's effect on cruises

    Some cruise line stocks are down in 2016, so how will Zika virus fears impact travel, with Patrick Scholes, Suntrust equity analyst.

  • Intervening in Zika virus Monday, 1 Feb 2016 | 11:17 AM ET
    Intervening in Zika virus

    A number of pregnant women are infected with the Zika virus, carrying babies at risk of brain defects, in South America. Infectious disease expert Dr. William Schaffner of Vanderbilt University, discusses the potential spread to the U.S., saying the Zika virus could be "a more difficult problem" than Dengue fever and the Chikungunya virus.

  • NEW YORK/ BUENOS AIRES, Feb 1- Argentina's government returned to debt talks in New York on Monday, expecting to make an offer this week to U.S. creditors suing over unpaid bonds in a bid to resolve a decade-long stand-off that has locked the country out of global capital markets. Newly elected President Mauricio Macri told Reuters at the World Economic Forum in...

  • SAO PAULO/ BRASILIA, Feb 1- Shares of Brazilian airline Gol soared nearly 40 percent on Monday after a newspaper reported the government is considering the end of limits on foreign ownership of domestic airlines to attract investment to the struggling sector. Last year Congress debated a proposal to lift the foreign ownership limit to 49 percent.

  • Virginia college student contracts Zika virus Monday, 1 Feb 2016 | 9:22 AM ET

    Officials for a university in Virginia say one of its students contracted the Zika virus over winter break.

  • BUENOS AIRES, Argentina— Argentina announced an end to subsidies on electricity bills Friday, and officials said the move will save the government $4 billion this year. The social tariff will benefit 20 percent of the 4.6 million electricity users in the Buenos Aires area, he said. Consumers in the Buenos Aires region have benefited most from the subsidies,...