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Business South America

  • SAO PAULO, April 25- Federal prosecutors in Brazil asked a court on Wednesday to force Microsoft to change its default installation process for Windows 10, which they said violated several local laws by collecting user data without their "express consent." Microsoft has faced criticism in the European Union and elsewhere about the installation settings of...

  • SAO PAULO, April 25- Federal prosecutors in Brazil asked a court on Wednesday to force Microsoft to change its default installation process for Windows 10, which they said violated several local laws by collecting user data without their "express consent." Microsoft has faced criticism in the European Union and elsewhere about the installation settings of...

  • SANTIAGO, April 25- LAN Express, a subsidiary of the LATAM Airlines group, said on Wednesday it was extending until May 2 a plan to cancel or reschedule flights in Chile and other South American destinations due to a cabin crew strike. LATAM was created in 2012 through a merger of Chile's LAN and Brazil's TAM. The company, headquartered in Santiago, has operating...

  • SAO PAULO _ Telefonica Brasil SA on Wednesday reported first-quarter profit of $332.5 million. On a per-share basis, the Sao Paulo- based company said it had net income of 20 cents. Telefonica Brasil shares have decreased almost 5 percent since the beginning of the year.

  • CARACAS, Venezuela— ConocoPhillips said it won a $2 billion arbitration award against Venezuela's state oil company, compounding the financial woes of the socialist-run nation as it struggles to feed its population. The ruling arose from the expropriation of ConocoPhillips' investments in two heavy crude oil projects in 2007 at a time then-President Hugo...

  • CARACAS, Venezuela— ConocoPhillips says it won $2 billion arbitration award against Venezuela's state oil company over asset seizures.

  • SAO PAULO _ Fibria Celulose SA on Wednesday reported first-quarter earnings of $189 million. The Sao Paulo- based company said it had net income of 34 cents per share. Fibria Celulose shares have risen 29 percent since the beginning of the year.

  • DETROIT/ SAO PAULO, April 25- General Motors Co is planning for long-term profitability in South America built on the back of draconian cost cutting during Brazil's recession and the same low-cost vehicles it is developing for Chinese consumers, which are due to hit dealerships in 2019.. That "one family" will consist of an expected 2 million units made annually...

  • DETROIT/ SAO PAULO, April 25- General Motors Co is planning for long-term profitability in South America built on the back of draconian cost cutting during Brazil's recession and the same low-cost vehicles it is developing for Chinese consumers, which are due to hit dealerships in 2019.. That' one family' will consist of an expected 2 million units made annually...

  • LIMA 33, Peru _ Cementos Pacasmayo SAA on Tuesday reported first-quarter net income of $9.2 million. The Lima 33, Peru- based company said it had net income of 11 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • Two days later she picked up her first-ever online purchase at a mall in Sao Paulo. Reuters has reported that Amazon is eyeing a major warehouse outside Sao Paulo, negotiating a nationwide air cargo deal and lining up local suppliers of everything from personal electronics to perfume and home appliances. But the American giant may struggle to dominate retail...

  • MEXICO CITY, April 24- Mexico's peso bounced back from a steep selloff on Tuesday, boosted by optimism the country would strike a new trade deal with the United States, while worries about elections drove Brazil's currency to a 16- month low. President Donald Trump said that a new North American Free Trade Agreement could be hatched quickly as officials from...

  • BUENOS AIRES, April 24- Argentina said on Tuesday it received 32 bids for six road projects requiring around $8 billion in investment, in a big test of how public-private partnerships can help cash-starved Latin American governments beef up infrastructure. Builders from the United States, Colombia and Italy also presented offers. For Argentina, the road...

  • MEXICO CITY, April 24- Helicopter booking app Voom expects its new Mexico City operations to capitalize on some of the worst traffic in the world to eclipse the growth it has seen in Brazil, the company's chief executive said. Voom, a subsidiary of France's Airbus, launched in March in the Mexican capital and after setting up last year in Sao Paulo, the second most...

  • SAO PAULO/ BRASILIA, April 24- Brazil's Raizen Combustiveis SA agreed to buy downstream assets in Argentina from Royal Dutch Shell PLC for $950 million, according to a securities filing on Tuesday. Raízen Combustiveis, a joint venture between Brazil`s Cosan SA Indústria e Comércio and Shell, will have a 20 percent market share in fuel distribution in...

  • CARACAS, April 24- Venezuela's hyperinflation has turned the struggling OPEC nation's once-powerful banks into warehouses of useless cash that are worth a total of only $40 million, according to a Reuters analysis of regulatory data. Although banks such as Citigroup Inc and Spain's BBVA are maintaining operations in the hopes of better times, the value of the...

  • BUENOS AIRES, April 24- Argentina is set on Tuesday to unveil the bidders for six road projects that need around $8 billion in investment, in a big test of how public private partnerships can help cash-starved Latin American governments beef up infrastructure. "Argentina and many others are facing both budget constraints and financing constraints," Finance...

  • SAO PAULO, April 23- Brazil's currency hit a nearly 1-1/ 2- year low and Mexico's peso sank to it weakest since early March on Monday on bets that accelerating U.S. inflation could spark a faster pace of interest rate hikes. Analysts said Mexico's currency could face further pressures in the coming months on bets leftist candidate Andres Manuel Lopez Obrador...

  • HOUSTON/ CARACAS, April 23- Two Chevron Corp. employees detained in Venezuela last week could be charged with treason for refusing to sign a parts contract for a joint venture with state-owned oil company PDVSA, according to two sources familiar with draft charges against the U.S. firm's executives. The arrests, by national intelligence agents, marked the first...

  • TEHRAN, Iran— Iran's Central Bank has officially banned the use of cryptocurrencies in financial transactions in order to prevent money laundering and terrorism, a newspaper reported Monday. The move is seen as part of Tehran's efforts to control the currency market after the rial hit an all-time low earlier this month. Bolivia and Ecuador ban citizens from...