Business News South America

  • Fernandez named Martin Guzman, 37, as economy minister, who will need to help steer debt restructuring negotiations with international creditors and the International Monetary Fund over around $100 billion in sovereign debt. "It suggests a moderate approach by Fernandez towards the issue," said Gabriel Brasil, lead political analyst for Argentina at...

  • BUENOS AIRES, Dec 6- Argentine President-elect Alberto Fernandez unveiled his cabinet and new central bank chief on Friday evening, laying out his core team days before the center-left leader takes office facing a stalled economy, rising debt fears and painful inflation. Fernandez named Martin Guzman, 37, as economy minister, who will need to help steer debt...

  • BUENOS AIRES, Dec 6- Argentine President-elect Alberto Fernandez unveiled his cabinet and new central bank chief on Friday evening, laying out his core team days before the center-left leader takes office facing a stalled economy, rising debt fears and painful inflation. Fernandez named Martin Guzman, 37, as economy minister, who will need to help steer debt...

  • SAO PAULO, Dec 6- Brazilian meatpacker JBS SA said in a securities filing late on Friday the company is considering a U.S. listing of its international assets but not a change of its headquarters. In the filing, JBS also denied an earlier report by Brazilian newspaper Folha de Sao Paulo that cited an alleged June plan, mentioning a potential change of headquarters...

  • BUENOS AIRES, Dec 6- Argentina's Martin Guzman, a whiz-kid economist with close ties to influential U.S. economist Joseph Stiglitz, will bring a sharp academic intellect but little policy-making experience to the daunting task of reviving Latin America's third largest economy and averting a damaging default. Guzman, a debt specialist at Columbia who has a...

  • BUENOS AIRES, Dec 6- Argentine President-elect Alberto Fernandez unveiled his cabinet on Friday evening, laying out his core team days before the center-left leader takes office facing a stalled economy, rising debt fears and painful inflation. Fernandez named Martin Guzman as economy minister, who will need to help steer debt restructuring negotiations...

  • SAO PAULO, Dec 6- Meatpacker JBS SA's plans for an initial public offering in the United States include redomiciling of its headquarters, one source with knowledge of the matter said on Friday. Separately, newspaper Folha de Sao Paulo reported on Friday afternoon, citing documents of a June plan for the IPO, that JBS would transfer its headquarters to the...

  • BUENOS AIRES, Dec 6- Argentina's Martin Guzman, a whiz-kid economist with close ties to influential U.S. economist Joseph Stiglitz, will bring a sharp academic intellect but little policy-making experience to the task of reviving Latin America's third largest economy and fending off default. Guzman, a debt specialist at Columbia who has a doctorate from Brown...

  • *Changes to JV contracts discussed at Boston Group meeting. While a similar move last year letting little-known companies operate some fields wholly-owned by PDVSA has not helped increase production, the sources said this proposal was more promising since the joint ventures with oil majors like Chevron Corp, Russia's Rosneft and state energy group China...

  • Fernandez is likely to back a sharp shift in economic approach to outgoing conservative President Mauricio Macri, whose International Monetary Fund- backed austerity helped cut fiscal deficits but hammered his popularity with voters. Argentina's markets and the peso currency have been on edge since Fernandez won a resounding victory in an Aug. 11 primary...

  • BRUSSELS, Dec 5- An association representing minority investors in Brazil is lobbying European antitrust regulators to spike a deal between planemakers Embraer SA and Boeing Co, calling it a killer acquisition. Aurelio Valporto, the head of minority investor association Abradin, said the European Commission should block Boeing's proposed $4.2 billion...

  • The United States launched its "Growth in the Americas" initiative in 2018 to bolster private-sector investments in energy and infrastructure in Latin America after China invited countries in the region to join its global Belt and Road Initiative. So far, the United States has signed memorandums of understanding within the Growth in the Americas framework...

  • *Central America, Colombia, Brazil all short of quality coffee. LONDON/ SAO PAULO, Dec 5- A shortage of high quality arabica coffees has boosted spot prices in Central America, Colombia and Brazil, catching speculators who bet on falling futures prices by surprise. The stocks have fallen from 2.5 million bags in March to 2.1 million with the harvest in Central...

  • JOHANNESBURG, Dec 5- Emerging market currency gains will probably be dominated by high-yielding currencies rather than low-risk bets next year as economic growth finally recovers in response to lower interest rates, a Reuters poll found on Thursday. ING Financial Markets wrote that while it sees a modest slowdown in Chinese growth, it expects recoveries in...

  • UNITED NATIONS/ BRASILIA, Dec 4- Brazil is in danger of losing its vote at the cash-strapped United Nations if it does not pay some of the $400 million it owes by the end of the year, U.N. and Brazilian officials said. Brazil is the second-largest U.N. debtor after the United States and must pay at least $126.6 million by the end of the year to avoid losing its vote, Gomes...

  • *Norwegian Air's Argentina network launched only 14 months ago. OSLO, Dec 4- Loss-making budget airline Norwegian Air has sold subsidiary Norwegian Air Argentina for an undisclosed sum, with JetSMART Airlines taking control with immediate effect. Norwegian's Argentina operation launched only in October last year and currently offers flights from Buenos...

  • MOSCOW/ BUENOS AIRES/ ASUNCION, Dec 4- Russia's agriculture safety watchdog will impose restrictions on beef supplies to Russia from five plants in Argentina and two plants in Paraguay starting from Dec. 18, it said on Wednesday, warning that it could widen these restrictions. Its officials will hold talks with their counterparts from Argentina and Paraguay on...

  • UNITED NATIONS/ BRASILIA, Dec 4- Brazil is in danger of losing its vote at the cash-strapped United Nations if it does not pay some of the $400 million it owes, U.N. and Brazilian officials said. Brazil is the second-largest U.N. debtor after the United States and the Brazilian government must pay at least $126.6 million by the end of the year to avoid losing its vote,...

  • RIO DE JANEIRO, Dec 3- The Chief Executive Officer of Engie's Brazilian subsidiary said the French company group wants to acquire the 10% stake still owned by state-controlled oil company Petrobras SA in the natural gas pipeline company TAG. Mauricio Bahr told reporters in Rio de Janeiro the TAG investors group led by Engie will enter in talks to acquire the...

  • *Trump say no deadline for China deal. LONDON, Dec 3- President Donald Trump said a trade agreement with China might have to wait until after the U.S. presidential election in November 2020, denting hopes of a resolution soon to a dispute that has weighed on the world economy. "In some ways, I like the idea of waiting until after the election for the China deal.