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World Markets Latin America

  • RIO DE JANEIRO/ BRASILIA, Dec 13- Brazilian telecommunications firm Oi SA has reached a deal with two major creditor groups on a plan to recover the company from bankruptcy protection, in a major breakthrough for Latin America's largest ever in-court debt restructuring. The company said in a filing on Wednesday that the Ad Hoc Group of Oi Creditors and...

  • BUENOS AIRES/ BRASILIA, Dec 12- Trade talks between the European Union and South America's Mercosur bloc will likely extend into next year after European negotiators said they needed more time to respond to improved offers, a source close to Mercosur negotiators said on Tuesday. Mercosur delegates had hoped to announce a so-called political agreement...

  • BUENOS AIRES, Dec 12- The United States, European Union and Japan vowed on Tuesday to work together to fight market-distorting trade practices and policies that have fueled excess production capacity, naming several key features of China's economic system. In a joint statement that did not single out China or any other country, the three economic powers said...

  • SAO PAULO, Dec 12- The operator of the Burger King fast-food chain in Brazil, BK Brasil Operação e Assessoria a Restaurantes SA, is expected to price its initial public offering near the top of the suggested price range, three people with direct knowledge of the matter said on Tuesday. Burger King Corp, owner of the chain in the United States and controlled by...

  • BRASILIA, Dec 12- A proposal to overhaul Brazil's costly social security system will be put to a vote within the next week if it has enough support, President Michel Temer said on Tuesday, adding that otherwise it will have to be left for next year. Temer has had to reduce the extent of the unpopular measure to get it through Congress, but said the current version would...

  • BUENOS AIRES, Dec 12- Trade talks between the European Union and South America's Mercosur bloc are approaching agreement on a deal on the sidelines of the World Trade Organization ministerial conference in Buenos Aires, negotiators from both sides said on Tuesday. Brazilian Foreign Minister Aloysio Nunes later told reporters that Mercosur and the European...

  • CARACAS, Dec 12- Venezuela said on Tuesday it would start a criminal investigation into powerful former oil czar Rafael Ramirez, in an escalation of a purge of alleged corruption that has resulted in the arrest of dozens of oil executives. President Nicolas Maduro and Ramirez have long been rivals in the OPEC nation's ruling Socialist Party.

  • BUENOS AIRES, Dec 12- Trade talks between the European Union and South America's Mercosur bloc are approaching agreement on a deal on the sidelines of the World Trade Organization ministerial conference in Buenos Aires, negotiators from both sides said on Tuesday. Brazilian Foreign Minister Aloysio Nunes later told reporters that Mercosur and the European...

  • BRASILIA, Dec 12- A proposal to overhaul Brazil's costly social security system will be put to a vote within the next week if it has enough support, President Michel Temer told reporters on Tuesday, adding that otherwise it will be left for next year. Investors are watching closely for progress on the bill, which many consider crucial to reining in Brazil's surging...

  • BUENOS AIRES, Dec 12- Rains expected this weekend in Argentina's main soy and corn growing areas will provide some relief to drought-stricken areas in the country's central farm belt, holding out hope that crop losses may yet be minimal, meteorologists said on Tuesday. Worries about the dry conditions in Argentina lifted Chicago Board of Trade soybean and...

  • BUENOS AIRES, Dec 12- The European Union, United States and Japan will issue a joint statement on Tuesday criticizing countries with too much factory capacity, though it will not directly name China, a major source of concern, EU Trade Commissioner Cecilia Malmstrom said. The move is a rare show of solidarity with the United States at a World Trade Organization...

  • BUENOS AIRES, Dec 12- The European Union, United States and Japan will issue a joint statement on Tuesday criticizing industrial overcapacity, though it will not directly name China, a major source of concern, EU Trade Commissioner Cecilia Malmstrom said. In the opening session of the World Trade Organization ministerial conference in Buenos Aires on Monday,...

  • RIO DE JANEIRO— One night about a year ago, Leandro Mota Generoso was sleeping on a street in downtown Rio de Janeiro when he felt something jagged strike his face. A year after Rio de Janeiro hosted the Olympic Games, a grinding economic crisis has led to an influx of thousands of homeless people, creating a climate of tension that city officials are scrambling to...

  • BUENOS AIRES, Dec 11- World Trade Organization members are unlikely to reach a final deal to curb fishery subsidies during the ministerial conference underway this week in Buenos Aires, spokesman Keith Rockwell told reporters on Monday. The success of any deal is widely seen to rest on the willingness of China, which has resisted pressure to curb its vast fleet,...

  • SINGAPORE, Dec 12- Chicago wheat futures slid for a seventh consecutive session on Tuesday, trading near their weakest since early January on pressure from abundant global supplies. The most-active wheat contract on the Chicago Board of Trade was down 0.1 percent at $4.13 a bushel, as of 0224 GMT. Soybeans climbed 0.3 percent to $9.85-3/ 4 a bushel, having earlier...

  • BUENOS AIRES/ WASHINGTON, Dec 11- The United States, European Union and Japan are expected to announce a joint effort on Tuesday aimed at confronting China over its excess industrial capacity and other trade practices, a source close to the discussions said. Washington, Brussels and Tokyo have raised complaints about China's subsidies to state-owned...

  • MEXICO CITY, Dec 11- Uber Technologies Inc said on Monday that it had appealed regulations that have barred it from accepting cash fares in the Mexican state of Puebla, in a new challenge to clampdowns on the ride-hailing service in Latin America. Authorities from Mexico to Brazil have tried to rein in Uber's use of cash payments, in Brazil because of concerns that...

  • CHICAGO, Dec 11- U.S. corn and wheat futures fell to life-of-contract lows on Monday, anchored by plentiful global grain supplies, and soybeans sagged as forecasts called for beneficial rains in Argentina, analysts said. Chicago Board of Trade March corn settled down 3-3/ 4 cents at $3.49 per bushel after hitting a contract low at $3.48-1/ 4. CBOT March wheat ended...

  • BUENOS AIRES, Argentina— The United States said Monday that the World Trade Organization is losing its focus on trade negotiation and "becoming a litigation-centered organization." Trade Representative Robert Lighthizer also complained that some WTO members try to gain concessions through lawsuits that he said they could never get at the negotiating...

  • BUENOS AIRES, Dec 11- U.S. President Donald Trump's trade chief said on Monday that the World Trade Organization is losing its focus on trade negotiations in favor of litigation, and was going too easy on wealthier developing countries such as China. With Trump's "America First" trade agenda casting a cloud over the WTO's 11th ministerial meeting in Buenos Aires,...