Latin America Brazil

  • RIO DE JANEIRO, Feb 21- Brazilian iron ore miner Vale SA on Friday downplayed an internal report examining the causes of last year's deadly Brumadinho tailings dam disaster while opening the door to $1 billion to $2 billion in fresh provisions related to the collapse. But steps taken to deal with the problem and heighten the dam's security were limited and...

  • BRASILIA/ RIO DE JANEIRO, Feb 20- An independent investigation requested by Brazilian iron ore miner Vale SA into the causes of the Brumadinho tailings dam disaster that killed 270 people a year ago found the company knew about the problem but failed to deal with it. The Brumadinho dam burst in January 2019 in Minas Gerais state, unleashing an avalanche of muddy...

  • BRASILIA, Feb 20- Brazil's real posted a record low close on Thursday, almost touching 4.40 per dollar as this week's decline accelerated on the back of soft domestic inflation data and a wider emerging market currency selloff against a buoyant greenback. Economy Minister Paulo Guedes appeared relaxed about the move, saying at an event in Brasilia alongside...

  • SAO PAULO, Feb 20- The Brazilian government is working to lure Tesla Inc to open a plant in the country, the Brazilian president's son and lawmaker Eduardo Bolsonaro said on Twitter on Thursday. The lawmaker said there has been a video conference with William Popp, charge d'affaires at the U.S. embassy in Brasilia, and Brazilian authorities to discuss the matter.

  • SAO PAULO, Feb 20- The Brazilian government is working to lure Tesla Inc to open a plant in the country, the Brazilian president's son and lawmaker Eduardo Bolsonaro said on Twitter on Thursday. The lawmaker said there has been a video conference with William Popp, charge d'affaires at the U.S. embassy in Brasilia, and Brazilian authorities to discuss the matter.

  • BRASILIA, Feb 20- Brazil's real fell on Thursday, hitting an all-time low within sight of 4.40 per dollar as this week's steady decline gathered pace on the back of soft domestic inflation data and a wider emerging market currency selloff against a buoyant greenback. The market has no reason to question the move, "said Cleber Alessie Machado, broker at Commcor DTVM...

  • SAO PAULO, Feb 19- Telefonica Brasil SA, the country's largest wireless carrier, aims to keep capital spending at levels similar to last year, executives said on Wednesday, after investments to prepare for fifth-generation mobile technology weighed on earnings. "Our ceiling is 9 billion reais but we expect our capex to be lower than that in 2020 as we become more...

  • Answering questions from lawmakers in Brasilia, Campos Neto emphasized that the real is a floating exchange rate, and that unlike in the past, its current weakness has not been accompanied by rising risk premiums and falling stock markets. Obviously, whenever we identify a lack of liquidity, excessive moves, or Brazil is becoming detached from its peers or...

  • Brazil has collected 21% of the total soybean area so far in the season, below the 36% level seen in the same period a year ago and in line with a five-year average. If the current projection is achieved, Brazil, the world's largest exporter and also the largest producer of the oilseeds in the 2019/ 20 cycle, will add more than 10 million tonnes to last year's production,...

  • SAO PAULO, Feb 17- Brazilian sugar and energy company Cosan SA expects cane crushing in the new center-south season that starts in April to be larger than volumes seen in the last two crops as favorable weather improves crop prospects. Cosan, which partners with Royal Dutch Shell Plc in the 50-50 venture Raízen, the world's largest sugar maker, expects higher...

  • SAO PAULO, Feb 14- Creditors of the operator of Brazilian airport Viracopos on Friday approved the company's debt restructuring, according to a statement by air traffic regulator ANAC. Aeroporto de Viracopos, the company that operates the airport, agreed to give back the license to operate the airport in the city of Campinas, in Sao Paulo state.

  • BRASILIA, Feb 14- Brazil's real rose more than 1% against the dollar on Friday to chalk up its biggest rise since late November after the central bank intervened in the swaps market for the second straight day following the currency's slump this week to new lows. The greenback slid below 4.30 reais after the central bank's $1 billion sale of 20,000 foreign...

  • BRASILIA, Feb 13- Opposition lawmakers called on Brazil's Congress on Thursday to reject a proposal by far-right President Jair Bolsonaro to open indigenous reservations to commercial mining, saying it endangered some of the world's most isolated forest inhabitants. Backed by Sydney Possuelo and Antenor Vaz, two leading authorities on Brazil's isolated...

  • SAO PAULO, Feb 13- Sales of new homes in Brazil's biggest city, Sao Paulo, are expected to rise around 10% in 2020, local housing union Secovi-SP said on Thursday, as the government pushes economic reforms and interest rates are at record lows. In 2019, sales of new homes rose by 49.5% year-on-year in Sao Paulo, also Brazil's richest city and largest market, to a record...

  • *IMF set to begin debt talks with Argentina. Feb 12- The Brazilian real slid to a fresh record low on Wednesday after data showed the country's retail sales dropped unexpectedly in December, while broader Latin American markets gained on hopes the coronavirus outbreak in China has peaked. Other currencies in the region recovered as China reported its lowest...

  • *IMF set to begin debt talks with Argentina. Feb 12- The Brazilian real slid to a fresh record low on Wednesday after data showed the country's retail sales dropped unexpectedly in December, while broader Latin American markets gained on hopes the coronavirus outbreak in China has peaked. Other currencies in the region recovered as China reported its lowest...

  • SAO PAULO, Feb 10- Brazil's exports of soy and iron ore fell in the first week of February compared to a year ago, government data showed on Monday, as traders watched for signs the coronavirus outbreak in China could affect demand for Brazilian commodities. Brazilian government data does not break down exports by product for individual countries, although China...

  • Latam currencies' losses@ Feb 10- The Colombian peso touched a two-month low on Monday, as crude prices slumped on worries of weaker demand from China following the coronavirus outbreak, while the Brazilian real extended its recent sell-off to touch a new record low. The mood across the developing world was cautious amid fears of a slowdown caused by the epidemic...

  • BRASILIA, Feb 6- The world's largest cigarette makers, British American Tobacco Plc and Philip Morris International, will have until early March to defend themselves in a lawsuit in Brazil over compensation for tobacco-related diseases. Souza Cruz Ltda, Philip Morris Brasil Industria e Comercio Ltda and Philip Morris Brasil SA, which produce 90% of the...

  • BRASILIA, Feb 6- The world's largest cigarette makers, British American Tobacco Plc and Philip Morris International, will have until early March to defend themselves in a lawsuit in Brazil over compensation for tobacco-related diseases. Souza Cruz Ltda, Philip Morris Brasil Industria e Comercio Ltda and Philip Morris Brasil SA, which produce 90% of the...