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Business South America

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  • SAO PAULO, Sept 1- The former chief executive of Brazil's nuclear power company was formally charged on Tuesday with accepting bribes in a corruption scheme to loot federal utility Eletrobras by the same kind of overbilling and bribery that occurred at state-run oil company Petrobras. The investigation first focused on price-fixing, bribery and...

  • SAO PAULO— Brazil's federal prosecutor's office filed formal corruption charges on Tuesday 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. The prosecutor's office said in a statement that it charged Othon Luiz Pinheiro da Silva with money...

  • GEORGETOWN, Guyana— U.N. officials are visiting the South American country of Guyana to help settle a border dispute with neighboring Venezuela. Venezuela long has claimed two-thirds of Guyana as its own, including a large marine area where Exxon Mobil Corp. said it had made a significant oil discovery. Guyana recently announced it would buy all of its fuel from...

  • BEIJING, Sept 1- Chinese President Xi Jinping told visiting Venezuelan President Nicolas Maduro on Tuesday that China was willing to look at new areas of financial cooperation, but state media made no mention of specifics. China was also willing to help Venezuela raise its manufacturing ability, Xi added. Venezuela has borrowed $50 billion from China through...

  • BUENOS AIRES, Argentina— Arquimides Puccio seemed to neighbors like a pious, conservative and obsessively tidy man. Several times a day, he'd sweep the sidewalk in front of his home in an upper-class Buenos Aires neighborhood. It's headed for film festivals in Venice, Toronto and San Sebastian, followed by release later in Europe and possibly the United States.

  • PUNTO FIJO, Venezuela, Aug 31- A gas treatment plant of PDVSA on the western coast of Venezuela was hit by an explosion on Monday evening though there were no injuries, the state oil company said. The plant, located in the Tiguadare sector of Punto Fijo, in the state of Falcon, processes gas extracted from the Cardon IV block, a field in the vast Perla reservoir, operated...

  • SANTIAGO, Aug 31- A Chilean union that represents copper mine workers rejected a move by Freeport-McMoRan Inc to drastically cut staff at its El Abra mine and said on Monday it was considering action. Last week, Arizona- based Freeport, which owns a 51 percent stake in the mine in northern Chile, became one of the first big global miners to announce it was slashing...

  • NEW YORK, Aug 31- Argentina's central bank on Monday won the reversal of a U.S. court ruling that had allowed bondholders to try to hold it responsible for the country's obligations on debt that has been in default since 2002.. The 2nd U.S. Circuit Court of Appeals in New York overturned a 2013 ruling denying a bid by Banco Central de la República Argentina to...

  • CARACAS, Aug 31- The decline in oil prices has forced Venezuela to place smaller medicine orders and buy cheaper drugs, a state health provider said on Monday, as patient complaints over shortages mount. We're working with tighter inventories but guaranteeing the medicine is here in the country, "said Carlos Rotondaro, a general who has run the Venezuelan...

  • BRASILIA, Aug 31- The Brazilian government on Monday revised its primary budget forecast for next year from a surplus to deficit, increasing pressure on a rebellious Congress to help shore up finances that threaten the country's investment-grade rating. Planning Minister Nelson Barbosa said the country can reverse a deficit "with measures that need to be...

  • SANTIAGO, Aug 31- A Chilean union that represents copper mine workers on Monday rejected a move to drastically cut staff at the El Abra mine owned by Freeport-McMoRan and was considering action after 700 workers had their jobs terminated at the weekend. Last week, Arizona- based Freeport, which owns a 51 percent stake in the mine in northern Chile, became one of the...

  • SAO PAULO, Aug 31- Brazilian Vice President Michel Temer on Monday expressed profound concern over the government's budget forecast of a primary budget deficit next year, warning that such a shortfall could cost Brazil its s investment-grade credit rating. President Dilma Rousseff's government is to unveil the 2016 budget before Congress later on Monday.

  • Officials blame Paraguay power outage on rebels Monday, 31 Aug 2015 | 9:59 AM ET

    ASUNCION, Paraguay— Paraguayan officials blamed rebels Monday for a power outage that affected some 750,000 people in the country's north. Alfredo Ramirez, a spokesman for the anti-terrorist unit, said authorities suspect rebels used explosives to attack a transmission tower, but their investigation was ongoing. Anti-terrorist agents said a pamphlet for...

  • BRASILIA, Aug 30- Renan Calheiros took an Air Force jet to get hair implants and was accused of letting a lobbyist pay child support to a journalist he had an affair and a child with. Either episode would have derailed many politicians but corruption allegations have not kept Calheiros, the 59- year-old president of Brazil's Senate, from making himself a go-to...

  • CAMPOS DO JORDÃO, Brazil, Aug 29- Finance Minister Joaquim said on Saturday he now favors reviving an old tax on financial transactions to cope with Brazil's fiscal crunch in a slumping economy, and warned that without new taxation the country could face a crisis like Greece's. Many economists believe Brazil will not see signs of a recovery until well into 2016..

  • CARACAS, Aug 28- Venezuelan President Nicolas Maduro on Friday said he will visit China and Vietnam to sign economic and financing deals, as the OPEC nation struggles to make ends meet at a time of low oil prices. "I leave tomorrow for Vietnam and China to seal agreements for the economic and financial security of Venezuela, and to seek support in these difficult...

  • RIO DE JANEIRO— The bottom seems to have fallen out of Brazil's economy, with the government reporting Friday that the gross domestic product plunged 1.9 percent in the second quarter alone, once again throwing the nation into a technical recession. Like most Latin American nations, Brazil has been hurt by the plunge in commodity prices and the slowdown in China,...

  • SANTIAGO, Chile— Chile's state-run copper giant Codelco says its profit plunged more than 30 percent in the first half of 2015 from the previous year because of tumbling prices for the metal. The world's largest copper company said Friday it earned $875 million in the first semester compared to $1.3 billion in the same period a year ago. The company has been hard...

  • SAO PAULO— Police say they have asked prosecutors to file charges 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. A federal police spokesman who was not authorized to be quoted by name said late Thursday that the department wants prosecutors to...

  • SAO PAULO, Aug 28- Brazil's economy shrank 1.9 percent in the second quarter, sinking into a recession that has hammered the popularity of President Dilma Rousseff as she struggles to save the country's investment-grade credit rating amid a vast corruption scandal. "The drop in consumption shows the crisis of confidence the economy is facing," said Newton Rosa,...