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  • Brazil police arrest 2 for alleged bribery scheme Wednesday, 29 Jul 2015 | 12:46 PM ET

    The Federal Prosecutor's Office says in a statement that police on Tuesday detained Othon Luiz Pinheiro da Silva, president of Eletronuclear, a subsidiary of Brazil's electric utilities company, Eletrobras. According to the prosecutor's office, Silva, who is on leave as Eletronuclear's chief executive officer, received 4.5 million reals in bribes from...

  • BRASILIA, July 29- Finance Minister Joaquim Levy's role as Brazil's dominant economic policymaker is slipping as he tries to push through unpopular austerity measures aimed at saving the country's investment grade rating. To make things worse, Standard& Poor's on Tuesday threatened to strip Brazil of its coveted investment-grade rating, raising pressure...

  • UPDATE 1-UN sees Latin America barely growing in 2015 Wednesday, 29 Jul 2015 | 10:46 AM ET

    SANTIAGO, July 29- Latin America is expected to register anemic 0.5 percent growth in 2015, down from a prior estimate of 1.0 percent, the United Nations' regional arm said on Wednesday, as China decelerates and investment falls. The economy of regional powerhouse Brazil will likely contract 1.5 percent, while Mexico is seen growing 2.4 percent, the Santiago-...

  • SAO PAULO, July 29- Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S. Paulo reported on Wednesday. Former President Luiz Inacio da Silva's government agreed in 2008 to purchase five submarines, including a...

  • BRASILIA, July 29- Brazil's central bank was poised to maintain its aggressive pace of interest rate hikes on Wednesday after a steep cut in fiscal savings targets weakened the real currency and stirred doubts about the government's commitment to help contain price increases. The Brazilian real has slid nearly 4 percent against the U.S. dollar to its weakest...

  • BRASILIA, July 29- Brazil's central bank is widely expected to raise its policy interest rate on Wednesday after a steep cut in fiscal savings targets weakened the real currency and stirred doubts about the government's commitment to help contain price increases. Standard& Poor's threat on Tuesday to strip Brazil of its coveted investment-grade rating in...

  • TV depiction of Colombia's only saint angers her devotees Wednesday, 29 Jul 2015 | 12:01 AM ET

    BOGOTA, Colombia— For weeks, billboards on buses and television spots have been announcing what promises to be Colombia's next big prime-time sensation. But the planned debut Wednesday of a TV soap opera dramatizing the life of Colombia's only Roman Catholic saint is shrouded in controversy after devotees of the missionary nun known universally as Madre...

  • LIMA, July 28- Southern Copper Corp said on Tuesday its net income dropped 12.6 percent drop in the first half of the year due to the slump in global metal prices, but it said it was well-positioned to weather the "temporary downturn". "Even though the current economic scenario is affecting metal prices, we believe this is a temporary headwind that will eventually...

  • *Protesters block Codelco mine access roads across Chile. SANTIAGO, July 28- A week-long strike by Codelco contract workers in Chile briefly stopped work at its second-largest copper mine on Tuesday, as Codelco Chief Executive Officer Nelson Pizarro negotiated with companies that employ the striking workers. Its small Salvador mine, which produced 54,000...

  • UNITED NATIONS, July 28- Venezuela's president Nicolas Maduro said he asked U.N. Secretary-General Ban Ki- moon for U.N. mediation in his country's century-old border dispute with neighboring Guyana. Guyana is a small former British colony of around 740,000 people on the northeast shoulder of South America.

  • S&P revises Brazil's outlook to negative Tuesday, 28 Jul 2015 | 2:14 PM ET

    SAO PAULO— Standard& Poor's Ratings Services said on Tuesday it has revised the outlook for Brazil's foreign-currency debt from stable to negative. The ratings agency said in an emailed statement that it has kept Brazil's BBB- long-term foreign-currency sovereign credit rating and the country's BBB+ long-term local-currency sovereign credit rating.

  • SAO PAULO, July 28- General Motors Co plans to double its investment in Brazil to 13 billion reais through 2019 and introduce a new family of vehicles into the country, the U.S. carmaker's executives said on Tuesday. Speaking at a press conference in Sao Paulo, Jaime Ardila, the head of GM in South America, said the company's investment in Brazil would be aimed at...

  • GM to double Brazil investment through 2018 Tuesday, 28 Jul 2015 | 1:01 PM ET

    SAO PAULO, July 28- General Motors Co plans to double its investment in Brazil to 13 billion reais through 2018 and introduce a new family of vehicles into the country, executives at the U.S. carmaker said on Tuesday. Speaking at a press conference in Sao Paulo, Jaime Ardila, the head of GM in South America, said the company's investment in Brazil would be aimed at...

  • The arrests come as federal police follow allegations that a price-fixing, bribery and political kickback scheme they discovered at Petrobras extends to other state-led firms, including Eletrobras, Brazil's largest utility. Federal prosecutor Athayde Ribeiro Costa told journalists that police also had arrested Andrade Gutierrez executive Flavio...

  • MILAN, July 28- Telecom Italia is to bolster its Brazilian unit with the addition of a chief operating officer to help revive sales and get the company in shape ahead of possible industry consolidation, two people with direct knowledge of the matter told Reuters. It will appoint Pietro Labriola, a long-standing Telecom Italia manager, to the new role at TIM...

  • LIMA, Peru— Peru's government on Monday ordered telecommunications companies to grant police warrantless access to cellphone users' locations and other call data in real time and store that data for three years, a decree that civil libertarians called an unconstitutional invasion of privacy. The government published the legislative decree on a national...

  • CURITIBA, Brazil, July 28- Brazilian police on Tuesday arrested two people involved in building a nuclear power plant for Brazil's Eletrobras, pulling the state-led utility holding company into a giant corruption scandal surrounding state-run oil company Petrobras. The arrests come as Brazil's Federal Police and federal prosecutors follow allegations...

  • SAO PAULO, July 28- Brazilian federal police said on Tuesday they were completing two arrest warrants as part of a corruption investigation into Eletronuclear, a subsidiary of state-run electric utility Eletrobras. Federal police called a press conference for 10 a.m., to discuss the operation, which also included 23 search and seizure warrants in several...

  • One of American's new Dreamliners damaged by hail Monday, 27 Jul 2015 | 6:28 PM ET

    One of the airline's new Boeing 787 Dreamliners suffered hail damage Monday after takeoff from Beijing. The Dallas- bound plane with 209 passengers returned to Beijing, where it was being checked out by a maintenance crew, said airline spokeswoman Andrea Huguely. The airline put the planes into service in May in the U.S., then between Dallas and Beijing and Buenos...

  • BRASILIA, July 27- Brazil's largest party is standing by deeply unpopular President Dilma Rousseff for now despite the defection of one of its own leaders, but that could change if an expected recession stirs up social unrest, party leaders say. Eduardo Cunha, speaker of the lower house of Congress, broke off ties with Rousseff and wants his Brazilian Democratic...