Business South America

  • BRASILIA, Dec 28- Brazilian President Michel Temer vetoed on Wednesday part of a bill that gives cash-strapped states a temporary pardon on their debts to the federal government to ease their fiscal woes, raising tensions with Congress over the measure. The lower house of Congress last week surprised the Temer administration by scrapping a clause in the bill...

  • BRASILIA, Dec 28- Brazilian President Michel Temer vetoed part of a bill that gives cash-strapped states a temporary pardon on their debts to the federal government to ease their fiscal woes, presidential spokesman Alexandre Parola said on Wednesday. In a statement, the Finance Ministry said it will continue to work to find a solution to the states' fiscal woes.

  • BRASILIA, Dec 28- Brazilian President Michel Temer vetoed part of a bill that gives cash-strapped states a temporary pardon on their debts to the federal government to ease their fiscal woes, presidential spokesman Alexandre Parola said on Wednesday. In a statement, the Finance Ministry said it will continue to work to find a solution to the states' fiscal woes.

  • HAMBURG/ SINGAPORE, Dec 28- Chicago soybeans were underpinned on Wednesday by concern that dry weather could hurt massive crops in Argentina and Brazil, while wheat and corn dropped in the face of selling pressure after sharp rises on Tuesday. Chicago Board of Trade March soybeans were up 0.2 percent at $10.26-1/ 4 a bushel at 1118 GMT after rising 2.7 percent on...

  • SINGAPORE, Dec 28- Chicago wheat edged higher on Wednesday after making its biggest one-day gain in more than a month in the last session with technicals and short-covering by investors underpinning the market. The Chicago Board Of Trade most-active wheat contract rose 0.1 percent to $4.09-3/ 4 a bushel by 0335 GMT, having closed up 4.1 percent on Tuesday,...

  • *The most active corn futures on the Chicago Board Of Trade fell 0.14 percent to $3.54-1/ 2, having gained 2.7 percent in the previous session when prices went as high as $3.56 a bushel, the most since Dec. 19. *The most active soybean futures were unchanged at $10.14-1/ 2 a bushel, having firmed 2.6 percent on Tuesday when prices rose to as much as $10.15-1/ 4 a bushel, the...

  • SAO PAULO, Dec 27- Brazilian stocks rose on Tuesday, boosted by shares of miner Vale and steelmakers as iron ore prices broke a nine-day losing streak. Shares of Vale SA closed up 1.23 percent while shares of steelmaker Companhia Siderúrgica Nacional SA closed up 5.61 percent. Mexico's stock index closed up 0.69 percent, helped The Mexican peso weakened 0.64...

  • As of 12:05 p.m. CST, Chicago Board of Trade March wheat futures were up 16 cents, about 4 percent, at $4.09-1/ 2 per bushel, after reaching $4.11, the contract's highest since Dec. 19. March corn was up 7 cents at $3.52-3/ 4 a bushel and most-active March soybeans were up 18-1/ 4 cents at $10.15-3/ 4 a bushel. Much of this is a simple correction from the losses that were posted...

  • *Soybean edged higher on concerns over Argentina drought. The Chicago Board of Trade most-active soybean contract rose 0.1 percent to $9.90 a bushel by 0240 GMT and wheat added 1 percent to $3.97-1/ 4 a bushel and corn gained 0.8 percent to $3.48-1/ 2 a bushel. Heavy rains that pelted parts of Argentina over the weekend did not reach the southeastern part of the...

  • SINGAPORE, Dec 27- Chicago soybean futures gained 0.2 percent on Tuesday after suffering deep losses last week, with the market underpinned by concerns over poor rainfall affecting in Argentina's key crop areas. Wheat jumped more than 1 percent on expectations of strong demand from India, where two years of lower output has depleted stockpiles.

  • MEXICO CITY, Dec 26- Mexico's peso and bourse slipped on Monday, in a session marked by light trading thanks to the U.S. Mexico's peso weakened 0.15 percent to 20.627 per dollar. In Brazil, the benchmark Bovespa index rose 1.18 percent to 58,620 points, helped by shares of miner Vale, which rose despite a fall in Chinese iron ore prices.

  • *Argentina economy in recession, fiscal deficit high. BUENOS AIRES, Dec 26- Argentine President Mauricio Macri has asked Finance Minister Alfonso Prat-Gay to step down, cabinet chief Marcos Pena said on Monday, citing disagreements over management style and the structure of the team charged with handling economic policy. Macri has sought to close Argentina's...

  • SAO PAULO/ MEXICO CITY, Dec 23- Mexico and Brazil's currencies and stocks gained on Friday in muted trading ahead of the Christmas weekend. Mexico's peso rebounded after hitting a three-week low the previous day, while the Brazilian real strengthened for a fifth straight day. Mexico's peso was boosted by November trade balance data showing the country posted...

  • Allegations that Temer and members of his inner circle solicited illegal funds for his 2014 vice presidential campaign threaten to undermine a solid majority in Congress that put him in office by impeaching leftist Dilma Rousseff in August. Senator Ronaldo Caiado, whose Democrats Party is one of the strongest backers of Temer's austerity measures before...

  • MARACAIBO, Venezuela, Dec 23- A legal strategy switch by Venezuela's state-owned oil giant PDVSA to portray itself as a victim in a massive bribery scheme detected by the U.S. government is unlikely to lead to compensation and may even backfire. In a case that shook the local oil industry, two prominent Venezuelan oil businessmen were arrested last year in the...

  • BUENOS AIRES, Dec 23- Argentine signed an agreement with the United States to exchange tax information in Buenos Aires on Friday and received praise from Washington for President Mauricio Macri's economic reform efforts. Treasury Secretary Jack Lew visited Argentina in September, nine months after free-market proponent Macri took office and ended more...

  • LIMA/ QUITO, Dec 22- Politicians and investigators across Latin America demanded more information from Brazil- based construction company Odebrecht on Thursday after it admitted to a decade of immense bribe payments in the region. Guilty pleas on Wednesday from Odebrecht and Braskem SA, the petrochemical company it jointly owns with Brazil's state-run oil...

  • CHISINAU- National Bank of Moldova announces interest rate decision. CAIRO- Central Bank of Egypt monetary policy meeting. BOGOTA- Bank of Colombia publishes the minutes of its December board meeting.

  • trade@ SAO PAULO/ MEXICO CITY, Dec 22- Brazil's currency strengthened on Thursday, touching its strongest level against the dollar in over a month, while the Mexican peso hit its weakest level in three weeks. Brazil's central bank signaled it would likely accelerate the pace of rate cuts next month, which is widely expected. Brazil's benchmark Bovespa stock index...

  • BUENOS AIRES, Dec 22- Argentina's economy shrank in the third quarter, remaining in recession as inflation ate into consumer purchasing power and weak activity in top trading partner Brazil hurt manufacturing, government data showed on Thursday. Growth has been elusive during the first year of center-right President Mauricio Macri's administration.