GO
Loading...

Enter multiple symbols separated by commas

Business South America

More

  • President Rafael Correa explained on Tuesday, during a visit to areas threatened by the Cotopaxi volcano, that it costs the OPEC nation $39 to produce a barrel of oil for which it only receives $30. Ecuador produces 538,000 barrels a day and under current circumstances stands to lose up to $3 million a day on them, though the state-owned Petroecuador oil company...

  • Petrobras fuel tank explodes in Brazil, killing two Wednesday, 26 Aug 2015 | 4:42 PM ET

    RIO DE JANEIRO, Aug 26- A heating unit at a Petrobras depot in Brazil used to treat fuel for ocean-going ships exploded on Wednesday, killing two workers, the state-run oil company said in a statement. The blast and resulting fire broke out about 10 a.m. while workers were doing planned maintenance on the heating unit, said the press office of BR Distribuidora SA, the...

  • BRASILIA, Aug 26- Brazil's government is preparing a deal to allow construction companies implicated in a massive corruption scandal to do business again with state-run oil company Petrobras in exchange for the payment of fines and damages, a government official briefed on the matter said on Wednesday. Late last year, Petroleo Brasileiro froze payments to...

  • As Argentina struggles, TV ad producers flock to Chile Wednesday, 26 Aug 2015 | 10:41 AM ET

    SANTIAGO, Aug 26- When the creators of an elaborate 2013 Cadillac commercial began to scout for shooting locations three years ago, they began in Argentina, where varied landscapes and creative talent had long attracted ad producers. Argentina demanded hefty deposits on all vehicles, cameras, and lights, and producers were unsure when- or even if- their imports...

  • WELLINGTON, New Zealand— New Zealand's national airline on Wednesday posted a 24 percent jump in annual profit after benefiting from lower fuel costs and continuing its expansion in Asia and North America. Air New Zealand announced after-tax profits of 327 million New Zealand dollars for the year to the end of June. The company said it plans to add routes to...

  • Rio de Janeiro city council votes to ban Uber Tuesday, 25 Aug 2015 | 6:44 PM ET

    RIO DE JANEIRO, Aug 25- Rio de Janeiro on Tuesday became the latest city to move against Uber as its city council voted to ban unregulated ride-sharing services. In a statement, San Francisco- based Uber Technologies Inc said it would continue to operate normally in the city and that the vote was one against technology and the right of citizens to choose how they get...

  • BRASILIA, Aug 24- Brazil will sharply pare back the number of government ministries after years of expansion, the administration said on Monday, in a move to show wary markets President Dilma Rousseff's commitment to an unpopular austerity plan. The reduction of the cabinet posts could further complicate Rousseff's relations with political parties of her...

  • BRASILIA, Aug 24- Brazil's government announced on Monday it will slash the number of ministries and reduce its spending, in an effort to show commitment to austerity that could be politically costly for President Dilma Rousseff. Brazil's ruling Workers' Party has been criticized for bloating the size of government. The distribution of ministry jobs has been...

  • TORONTO/ VANCOUVER/ SYDNEY, Aug XX- Many of the world's junior miners are laying down their picks and shovels to start new ventures ranging from egg exporting to medical marijuana farming, as they as try to survive a crash in metals prices by shifting away from exploration. Canada made it legal to buy marijuana from licensed producers with a doctor's prescription...

  • SAO PAULO— The speaker of Brazil's lower house of congress on Friday strongly denied newly filed charges of corruption and said he won't resign from office. Attorney General Rodrigo Janot filed the charges Thursday against Chamber of Deputies speaker Eduardo Cunha and former President Fernando Collor, who is now a senator. In a meeting with union leaders in...

  • Success stories until recently, emerging economies are seen as casualties now— of slower growth in China, plunging prices for commodities like oil and iron ore, the prospect of higher U.S. interest rates and homegrown threats. The damage has spilled across oceans, with the turmoil jolting investors in New York, Tokyo and Europe. Investors there worry that China...

  • BRASILIA, Aug 17- McDonald's Corp, the world's biggest fast-food chain, was accused of mistreating its employees and dodging taxes on Thursday during a Senate hearing in Brazil, where politicians, union leaders and workers from five continents voiced allegations. Arcos Dorados Holdings Inc, the world's largest McDonald's franchisee and its main operator in...

  • BUENOS AIRES, Aug 20- Argentine President Cristina Fernandez said on Thursday she was sending a draft law to Congress making it harder for the government to sell state stakes in local firms, two months before elections seen bringing a more market-friendly leader to power. With Fernandez barred from a third consecutive term, the two main candidates are her...

  • ADDIS ABABA, Aug 20- Ethiopian Airlines is powering ahead with a plan to expand its fleet and route network after exceeding its profit target for the 2014/ 15 year, its chief executive said in an interview. Ethiopian Airlines flew six million passengers in the prior year, up from 5.22 million in 2012/ 13.. Ethiopian Airlines plans to increase revenue to $10 billion by...

  • DIARY- Emerging Markets Economic Events to Sept 2 Wednesday, 19 Aug 2015 | 8:02 PM ET

    JAKARTA, Indonesia- Federal Reserve Bank of San Francisco releases text of speech of President John Williams before the Bank Indonesia-BIS Research Conference in Jakarta- 0645 GMT. SEOUL, South Korea- Federal Reserve Bank of Minneapolis President Narayana Kocherlakota speaks before the "Macroeconomic Policy and Price Measurement Issues in a Low Inflation...

  • LIMA, Aug 19- Any downgrade of Peru's stock exchange to "frontier market" status by index provider MSCI Inc would likely trigger a capital outflow of $1.5 billion to $5 billion within three months, the head of Peru's bourse said on Wednesday. MSCI said last week that it was considering dropping Peru's current "emerging market" classification because of low...

  • SAO PAULO, Aug 19- Brazil's state-run oil firm Petroleo Brasileiro SA said in a securities filing on Wednesday it was not in negotiation to pay a fine to settle criminal and civil investigations in the United States. The law firms report to Ellen Gracie Northfleet, former chief justice of Brazil's Supreme Court and Andreas Pohlmann. Gibson, Dunn& Crutcher LLP said...

  • SAO PAULO, Aug 19- Banco do Brasil SA on Wednesday raised its limits on loan exposure to the nation's largest firms, a sign that President Dilma Rousseff is again using state-controlled lenders to help stem the fallout from a deep recession. Banco do Brasil shares fell almost 5 percent in São Paulo, their biggest drop in a month, amid investor concerns that the...

  • BUENOS AIRES, Aug 19- Argentine wheat output will likely fall this season after record storms lashed the Pampas grains belt, making it difficult for Argentina to compete in a global export market saturated by bumper harvests in western Europe and the Black Sea region. A key supplier of wheat to neighboring Brazil and the world's top exporter of soymeal...

  • SAO PAULO, Aug 18- Brazil's OAS Investimentos SA, whose parent company is under creditor protection, has so far received five proposals for a stake in infrastructure company Invepar, with bidders also looking to buy its environment services and oil drilling units, executives said on Tuesday. In June, Reuters reported that Canadian asset manager Brookfield...