Business South America

More

  • BOGOTA, Colombia— Sugary soft drinks are being pulled from elementary schools in Colombia in a bid to instill better dietary habits at a young age. Globally, the World Health Organization estimates that there are more than 42 million overweight children under the age of five. About three-quarters of them live in developing nations like Colombia.

  • CARACAS, May 20- A teenage protester reads the constitution to Venezuelan soldiers blocking a march. Amid the melee on the front line of the latest protest in Caracas, the young soldiers' faces remain impassive. Venezuela's opaque but powerful military- a key power-broker in past unrest- is under increasing scrutiny as socialist President Nicolas Maduro...

  • LONDON/ CHICAGO May 20- Shortly after 7 p.m. on January 12, 2015, a message from a secure computer terminal at Banco del Austro in Ecuador instructed San Francisco- based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo has countered that security lapses in BDA's own operations caused the Ecuadorean bank's losses. SWIFT, an acronym for the...

  • NEW YORK— A Diego Rivera painting has sold privately for $15.7 million, setting a world record price for any Latin American work of art, Phillips auction house said Friday. The price for "Dance in Tehuantepec" nearly doubles the figure paid at auction last month for a painting by Frida Kahlo, Rivera's wife whom he later divorced. The buyer, Argentinian collector...

  • *Concerns over Argentina supplies underpin soybean futures Commodity markets pick up after selling on strong dollar. PARIS/ SINGAPORE, May 20- U.S. soybeans rose on Friday, recovering from a dollar-driven sell-off in commodities a day earlier, as concerns over crop losses in Argentina underpinned a market that was heading for its sixth consecutive weekly rise.

  • LONDON/ CHICAGO May 20- Shortly after 7 p.m. on January 12, 2015, a message from a secure computer terminal at Banco del Austro in Ecuador instructed San Francisco- based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo has countered that security lapses in BDA's own operations caused the Ecuadorean bank's losses. SWIFT, an acronym for the...

  • SINGAPORE, May 20- U.S. soybeans on Friday were on track for a sixth consecutive week of gains as concerns over lower supplies from Argentina continued to buoy prices, although a strong dollar curbed their advance. The Chicago Board of Trade most-active soybean contract has risen almost 17 percent in six weeks. By 0252 GMT on Friday, it was trading down 0.1 percent...

  • RIO DE JANEIRO— Former Brazilian energy minister Pedro Parente has been named by acting President Michel Temer as the new CEO of state-run oil giant Petrobras. Parente was picked Thursday to replace Aldemir Bendine, an appointee of now suspended President Dilma Rousseff. He has worked for private organizations since Rousseff's Workers' Party first won the...

  • BUENOS AIRES, Argentina— Argentina's House of Deputies has given final congressional approval to a bill that would ban layoffs in the public and private sectors. The measure already passed in the Senate. It comes in defiance of President Mauricio Macri's attempt to cut bloated spending and jumpstart Argentina's economy through job cuts.

  • CARACAS, May 19- Venezuela's state oil company PDVSA said its oil output was stable in the first quarter of the year, knocking down reports of declining production due to a cash crunch and shortages, though the company didn't provide figures. Production increases in the extra-heavy crude Orinoco Belt have offset declines in mature fields in the west of the OPEC...

  • CHICAGO, May 18- A day after Monsanto Co said it would stop the launch of its latest soybean trait in Argentina due to concerns over royalty payments, company executives downplayed the impact and sought to turn the focus to business prospects in neighboring Brazil instead. Brazil is "the real opportunity" for growth in South America for Monsanto's newest soy...

  • SANTIAGO, Chile _ Sociedad Quimica y Minera de Chile SA on Wednesday reported first-quarter earnings of $58.5 million. The Santiago, Chile- based company said it had profit of 22 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • Since the last U.N. conference on cities— Habitat II— in Istanbul in 1996, the center of gravity for "megacities" has shifted to developing regions, the report said. "This trend will continue as several large cities in Asia, Latin America and Africa are projected to become megacities by 2030," it said. The report calls for a "New Urban Agenda" to be adopted at the upcoming...

  • HOUSTON/ BUENOS AIRES, May 18- A 1- million-barrel cargo of Nigeria's Bonga medium crude oil is expected to be discharged in Argentina this week, the second crude import by firms operating in the South American country this year to secure oil supplies for their refineries, according to industry sources and Reuters data on Wednesday. But because of quality issues-...

  • The dispute escalated on Tuesday when Monsanto said it would not sell its newest soy technology, known as Roundup Ready 2 Xtend soybeans, in Argentina, a move that could limit output of the country's main cash crop. Argentina is the world's No. 3 soybean exporter and No. 1 supplier of soymeal livestock feed. "The government needs to strike a deal, because not having...

  • LA PAZ, Bolivia— Anti-riot police and workers clashed in Bolivia's capital during a protest against the government's decision to close the country's largest state-run textile company. More than 800 people were laid off when President Evo Morales closed the ENATEX national textile company Monday. The factory went into crisis after Bolivia lost its U.S....

  • SAO PAULO, May 18- Brazil's deep recession and a need for cash at major construction companies may drive real estate prices down as much as 30 percent this year, the head of self-storage company GuardeAqui said in an interview. Chief Executive Allan Paiotti said GuardeAqui, which is controlled by billionaire Sam Zell's Equity International, may accelerate...

  • SAO PAULO, May 18- Shares in Centrais Elétricas Brasileiras SA fell for a third straight day on Wednesday, reflecting concern over a potential government rescue of Brazil's state-controlled power holding company and an expected delisting of its New York- traded stock. Eletrobras has underperformed other shares in the Sao Paulo Stock Exchange in recent days,...

  • SAO PAULO— A federal judge in Brazil on Wednesday sentenced a former presidential chief of staff to more than 20 years in prison for involvement in a massive corruption-kickback scheme at state-owned oil company Petrobras. Prosecutors say that more than $2 billion was paid in bribes and other funds by Brazil's biggest construction and engineering firms in...

  • *Dr Reddy's, Glenmark have invested heavily in Venezuela. MUMBAI/ NEW DELHI, May 18- Indian officials say they have proposed an oil-for-drugs barter plan with cash-strapped Venezuela to recoup millions of dollars in payments owed to some of India's largest pharmaceutical companies. Several of India's generics producers, led by the country's second-largest...