Business News Rio de Janeiro

  • BRASILIA, April 20- Avianca Brasil has canceled more than 1,300 flights, Brazilian media reported on Saturday, as the bankrupt airline was forced to reduce its fleet by more than two-thirds. The cancellations, for April 19-28, are nationwide, with airports in Brasilia, Guarulhos in Sao Paulo, and Galeao in Rio de Janeiro, the hardest hit, O Estado de Sao Paulo reported.

  • RIO DE JANEIRO/ SAO PAULO, April 17- Brazilian state-run oil firm Petroleo Brasileiro SA hiked diesel prices on Wednesday, and executives said the firm could expand its already aggressive divestment plan while arguing the company was completely free of political interference. In an impromptu news conference at the Rio de Janeiro headquarters of Petrobras, as...

  • SAO PAULO, April 12- Avianca Brasil said on Friday it had canceled 179 flights scheduled over the next five days as the airline's operations finally unraveled four months after it filed for bankruptcy protection. The vast majority of the cancellations are scheduled to take place between Monday and Wednesday and include some flights between Sao Paulo and Rio...

  • RIO DE JANEIRO/ BRASILIA, April 12- Brazil's Petroleo Brasileiro SA canceled a diesel price hike on Friday as President Jair Bolsonaro called for "fair" prices out of concern for truckers, spooking investors wary of political interference at the state-run oil firm. In comments to journalists in the northern city of Macapa, Bolsonaro defended the move, putting...

  • RIO DE JANEIRO/ BRASILIA, April 12- Brazil's Petroleo Brasileiro SA canceled a diesel price hike on Friday as President Jair Bolsonaro called for "fair" prices out of concern for truckers, spooking investors wary of political interference at the state-run oil firm. In comments to journalists in the northern city of Macapa, Bolsonaro defended the move, putting...

  • RIO DE JANEIRO/ SAO PAULO, April 5- A consortium led by France's Engie SA submitted the highest offer for a major gas pipeline unit owned by Brazil's Petroleo Brasileiro SA, the state-run oil firm said on Friday, as the company's biggest-ever divestment draws to a close. In a filing, Petrobras, as the company is known, said the Engie consortium, which includes Canada's...

  • SAO PAULO/ RIO DE JANEIRO, April 5- A consortium led by France's Engie SA made the biggest-ever offer for a major gas pipeline unit owned by Brazil's Petroleo Brasileiro SA, the state-run oil firm said on Friday, as the company's biggest divestment draws to a close. In a filing, Petrobras, as the company is known, said the Engie consortium, which includes Canada's...

  • SAO PAULO, April 5- A new plan by cash-strapped carrier Avianca Brasil to sell its most coveted airport slots to Brazil's two largest airlines will draw intense antitrust scrutiny, which may delay or derail a pressing cash injection. Antitrust regulator CADE said on Friday that it could block the plan, which Avianca Brasil hopes could raise some $210 million...

  • RIO DE JANEIRO, April 3- Global defense and security firms gathered at Latin America's biggest security expo in Rio de Janeiro this week hope Brazil's crackdown on crime will bolster sales to the new right-wing government even as they fret about the weak economy and tough political climate. For companies that rely on state and federal government contracts,...

  • BRASILIA, April 2- Senior Brazilian officials charged with steering pension reform through Congress presented a united front on Tuesday, insisting on an end to the political finger-pointing in recent weeks that threw the government's signature reform bill into doubt. But the message on Tuesday from Vice President Hamilton Mourao, Labor and Pensions...

  • RIO, March 27- Brazilian state development bank BNDES will continue to reduce its stake in state-controlled oil company Petroleo Brasileiro SA as part of its divestment plan, the bank's CEO Joaquim Levy told journalists on Wednesday. "To hold a Petrobras stake does not add value to the bank," he said, using the oil company's more familiar name.

  • March 26- Swiss drugmaker Roche will close its manufacturing plant in the Brazilian city of Rio de Janeiro, shuttering operations over the next five years before selling the plot, the company said in a statement on Tuesday. Located in the neighborhood of Jacarepagua, the plant makes products for Latin America and Europe, and currently employees 440 Roche...

  • SAO PAULO, March 22- The arrest of a former Brazilian president on corruption charges is raising questions about how a Swedish consulting company won a contract to help build a nuclear power plant at the center of what prosecutors say was a massive bribery and kickback scheme. The company, now known as AF Poyry, on Thursday became the latest in a series of...

  • YOKOHAMA, Japan, March 20- In September 2007, despite weighty responsibilities at the helm of Nissan Motor Co and alliance partner Renault SA, Carlos Ghosn found time to get involved in a seemingly straightforward business decision. Two days before Nissan's executive committee was due to formalise the choice of a company called TVS as a partner for sales and...

  • SAO PAULO, March 19- Brazilian miner Vale SA said on Tuesday that a local court had cleared the way for it to resume operations at its Brucutu mine, its largest iron ore complex in the state of Minas Gerais, the country's longtime mining heartland. Laranjeiras receives waste material from Brucutu, which has an installed capacity of 30 million tonnes of iron ore, or...

  • RIO DE JANEIRO, March 15- Roberto Castello Branco, the chief executive of Brazil's Petroleo Brasileiro SA, said on Friday he believes the company will divest some $10 billion in assets in the first four months of 2019, aided by the sale of a major pipeline unit. At the same event in Rio de Janeiro, Brazilian Economy Minister Paulo Guedes said Petrobras, as the firm is...

  • SAO PAULO, March 11- The town of Mangaratiba, in Brazil's Rio de Janeiro state, fined miner Vale SA and closed its iron ore port terminal on Monday, citing pollution problems and the alleged lack of an operating license. In a statement, Mayor Alan Costa said Vale needs to "comply with environment laws." Around 40 million tonnes of iron ore go through Vale's Ilha da Guaiba...

  • SAO PAULO/ RIO DE JANEIRO, March 8- Five years after Brazilian prosecutors exposed a long-running bribes-for-contracts racket at state-run oil firm Petrobras, the company is proclaiming it has cleaned up its act. It has run TV spots touting its whistleblower hotline as well as a compliance department created in the wake of Brazil's epic "Car Wash" corruption...

  • RIO DE JANEIRO/ SAO PAULO, March 3- Investors were skeptical on Sunday about the surprise decision by Brazil's Vale SA to remove its high-profile chief executive in the wake of a deadly January accident at one of the world's largest iron ore miner's facilities. Vale's board dismissed CEO Fabio Schvartsman, as well as three other executives including chief of...

  • RIO DE JANEIRO/ BRASILIA, March 2- Brazilian authorities investigating the fatal January collapse of a dam owned by miner Vale SA have recommended the removal of the firm's chief executive and several other high-ranking employees, national media reported on Saturday. State and federal prosecutors have recommended the "immediate removal" of CEO Fabio...