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Latin America Brazil

  • SAO PAULO, Sept 13- Brazil's federal police detained JBS SA Chief Executive Officer Wesley Batista early on Wednesday, as an investigation into his and his younger brother's role in potential insider trading ahead of a plea bargain deal with prosecutors escalated, two people with knowledge of the matter said. Earlier in the day, police issued a preventative...

  • SAO PAULO, Sept 13- Brazil's federal police detained JBS SA Chief Executive Officer Wesley Batista early on Wednesday, in connection with an investigation into his and his brother's role in an escalating corruption scandal, the website of Veja magazine said. According to Veja, which did not say how it obtained the information, police also conducted raids and...

  • Avenue Capital's Marc Lasry: We don't have any more hedge fund money, zero

    All our money today is locked up for three years or more, says Marc Lasry, Avenue Capital chairman & CEO, talking about changes in his business model.

  • Finding opportunities in Brazil: Avenue Capital's Marc Lasry

    Marc Lasry, Avenue Capital chairman & CEO, talks about buying a waste management company in Brazil. and where he is seeing investment opportunities.

  • BRASILIA, Sept 11- A Brazilian judge on Monday suspended criminal aspects of the leniency agreement of J&F Investimentos SA, a holding company run by the scandal-ridden Batista family, adding to uncertainty about billions of dollars of asset sales. Federal Judge Vallisney de Souza Oliveira held up the criminal immunity of additional J&F executives until the...

  • BRASILIA, Sept 11- A Brazilian judge on Monday suspended criminal aspects of the leniency agreement of J&F Investimentos SA, a holding company run by the scandal-ridden Batista family, adding to uncertainty about billions of dollars of asset sales. Federal Judge Vallisney de Souza Oliveira held up the criminal immunity of additional J&F executives until the...

  • BRASILIA, Sept 11- A Brazilian judge on Monday suspended the leniency agreement of J&F Investimentos SA, a holding company run by the scandal-ridden Batista family, throwing billions of dollars of asset sales into question. Federal Judge Vallisney de Souza Oliveira held up J&F's accord until the Supreme Court makes a final ruling on Joesley Batista's plea...

  • SAN JUAN, Puerto Rico, Sept 11- Food shortages and looting on Caribbean islands hammered by Hurricane Irma sparked growing criticism of the government response, prompting British billionaire Richard Branson to call for a "Marshall plan" to help the region recover. Across the whole of the Caribbean, Irma killed nearly 40 people and devastated basic services,...

  • RIO DE JANEIRO, Sept 11- Brazilian police on Monday launched an operation involving possible money laundering by the agricultural arm of Venezuela's state-run oil company PDVSA through imports of agricultural equipment from Brazil, authorities said. According to police, Venezuela's Tracto America, a trading company, bought agricultural equipment from...

  • SAO PAULO— Brazil's main stock market index closed at an all-time high Monday, an indication that investors feel the worst days of the country's economic slide could be over. Sao Paulo's Bovespa index rose 1.7 percent to 74,319 points, well above the previous record of 73,516 set May 20, 2008, when Brazil's economy was booming. The rise was fueled in part by Temer...

  • SAO PAULO/ BRASILIA, Sept 11- Brazil's government intends to approve its proposed pension overhaul in the lower house of Congress in October, prioritizing it over a possible tax reform in the tight schedule ahead of the 2018 election year, ministers said on Monday. The pension overhaul, considered vital by the government to avoid an eventual debt crisis, has been...

  • SAO PAULO/ BRASILIA, Sept 11- Brazilian federal police raided the home of billionaire Joesley Batista, who surrendered to authorities the previous day after losing immunity from prosecution amid a corruption scandal, two people familiar with the situation said on Monday. Federal Supreme Court Justice Edson Fachin gave the nod to the raids, which included the...

  • BRASILIA, Sept 10- Billionaire Joesley Batista, one of the owners of JBS SA, the world`s largest meatpacker, and executive Ricardo Saud surrendered on Sunday and were arrested by Brazilian police, their lawyer said. Batista and Saud went to federal police headquarters in Sao Paulo on Sunday afternoon and will be transferred to Brasilia on Monday, their lawyer,...

  • SAO PAULO— The former chairman of the world's largest meatpacker, whose testimony implicated Brazil's president in corruption, turned himself in to police Sunday after the country's Supreme Court ordered his arrest. But Brazil's sprawling probe into the massive trade in bribes and kickbacks for favors between companies and politicians, known as Operation...

  • BRASILIA, Sept 10- Brazil Supreme Court Justice Edson Fachin ordered on Sunday the arrest of billionaire Joesley Batista, one of the owners of the world`s largest meatpackers, JBS SA, and one of his executives, a person with knowledge of the matter said. Fachin agreed to a request by Brazil's Prosecutor-General Rodrigo Janot, who revoked benefits granted by a plea...

  • *AGC Energia could fetch 1.4 bln reais for stake. *Accord will be rewritten with entry of Classico. SAO PAULO, Sept 8- AGC Energia SA is in advanced talks to sell the 20.1 percent voting stake it holds in Cia Energética de Minas Gerais SA to investment bank Banco Classico SA, which could in turn be invited to share control of Brazil's No. 3 power utility, two people with...

  • SAO PAULO, Sept 8- Brazilian investment bank Banco Classico SA is in advanced talks to buy the 20.1 percent voting stake that AGC Energia SA has in Cia Energética de Minas Gerais SA, a person with direct knowledge of the situation said on Friday. According to the person, AGC Energia could raise around 1.4 billion reais with the sale of the stake in Cemig, Brazil's No. 3...

  • Helder Rodrigues da Cunha Soares of Claritas says there are signs the Brazilian economy is stabilizing, with unemployment having fallen 50 basis points from peak levels.

  • PROVIDENCIALES, Turks and Caicos, Sept 7- R esidents of the Turks and Caicos Islands on Thursday hunkered down for Hurricane Irma, which has smashed through a string of Caribbean islands as one of the most powerful Atlantic storms in a century, killing at least 14 people en route to Florida. With winds of around 185 miles per hour, the storm the size of France has...

  • *A portion of barrels moved to Caribbean due to Harvey now locked. HOUSTON, Sept 7- Monster Hurricane Irma has shut down oil terminals across the northern Caribbean, worsening a fuel supply crunch in Latin America which is struggling to meet demand since Hurricane Harvey disrupted shipments from the U.S. Gulf Coast last month. The Caribbean has the capacity to...