Business News South America

  • *Data shows Mexico extends recession, peso weakens. Concerns escalated after the U.S. Centers for Disease Control and Prevention alerted Americans to prepare for the spread of the deadly virus. Brazil and Argentina markets remained closed for holidays.

  • Venezuela's socialist President Nicolas Maduro remains in power a year after Washington recognized opposition leader Juan Guaido as the legitimate president, and has worked to push Maduro out. Maduro has retained the support of Russia and China. Special Representative for Venezuela Elliott Abrams told Reuters in an interview that there will be more...

  • *Brazil, Argentina shut for carnival festival. Feb 24- Latin American currencies and stocks were caught in a global sell-off on Monday as investors steered clear of risky bets after a jump in the number of coronavirus cases outside China exacerbated global growth worries. "The spread of the virus outside of China... combined with continued heavy restrictions...

  • Feb 24- Mexico's peso touched an 11- week low on Monday, leading a decline in Latin American currencies amid a global sell-off spurred by a surge in the number of coronavirus cases outside China. Fears of a pandemic rose after Italy, South Korea and Iran reported a sharp rise in the number of new cases and deaths, while other Middle East countries also reported new...

  • SANTIAGO, Feb 24- President Sebastian Pinera called on Chileans on Monday to help the country "live in peace" ahead of an anticipated fresh outbreak of protests in March. March is traditionally a month that brings protests in Chile as people return from the Southern Hemisphere summer holiday and mark the anniversaries of victims of the 1973-1990 military...

  • BUENOS AIRES, Feb 24- Argentine beef exports to its top buyer China fell almost a third in January due to a price dispute with Chinese importers and the effects of a coronavirus outbreak, the head of the South American country's meat export chamber told Reuters. Soaring demand from China last year saw sales of Argentine frozen boneless beef double to 408,500...

  • Treasury Secretary Steven Mnuchin on Sunday welcomed Argentina's talks with the International Monetary Fund after the heavily indebted Latin American country said it would launch consultations that could lead to a new funding program. IMF officials also briefed G20 finance ministers and central bankers about the situation in Argentina, whose debt...

  • RIYADH/ BUENOS AIRES, Feb 22- Argentina on Saturday agreed to start consultations with the International Monetary Fund that could lead to a new financing program, days after the global lender said the country's debt situation had become "unsustainable." This would give an assurance to bondholders as they head into restructuring talks that Argentina, notorious...

  • RIYADH, Feb 22- IMF Managing Director Kristina Georgieva on Saturday said she had a "very fruitful exchange of views" with Argentine Economy Minister Martin Guzman about putting the country on a path to more sustainable and inclusive growth. After meeting Guzman on the sidelines of a G20 gathering in Saudi Arabia, Georgieva said the Argentine government had...

  • RIO DE JANEIRO, Feb 21- Brazilian iron ore miner Vale SA on Friday downplayed an internal report examining the causes of last year's deadly Brumadinho tailings dam disaster while opening the door to $1 billion to $2 billion in fresh provisions related to the collapse. But steps taken to deal with the problem and heighten the dam's security were limited and...

  • BRASILIA/ RIO DE JANEIRO, Feb 20- An independent investigation requested by Brazilian iron ore miner Vale SA into the causes of the Brumadinho tailings dam disaster that killed 270 people a year ago found the company knew about the problem but failed to deal with it. The Brumadinho dam burst in January 2019 in Minas Gerais state, unleashing an avalanche of muddy...

  • BRASILIA, Feb 20- Brazil's real posted a record low close on Thursday, almost touching 4.40 per dollar as this week's decline accelerated on the back of soft domestic inflation data and a wider emerging market currency selloff against a buoyant greenback. Economy Minister Paulo Guedes appeared relaxed about the move, saying at an event in Brasilia alongside...

  • BOGOTA, Feb 20- Uber Technologies Inc resumed transporting passengers in Colombia on Thursday with a new service model that allows users to rent cars with drivers, just 20 days after it exited the Andean country following a ruling by regulators which the company described as arbitrary. Uber said on Feb. 3 it was considering taking the ruling to international...

  • SAO PAULO, Feb 20- The Brazilian government is working to lure Tesla Inc to open a plant in the country, the Brazilian president's son and lawmaker Eduardo Bolsonaro said on Twitter on Thursday. The lawmaker said there has been a video conference with William Popp, charge d'affaires at the U.S. embassy in Brasilia, and Brazilian authorities to discuss the matter.

  • SAO PAULO, Feb 20- The Brazilian government is working to lure Tesla Inc to open a plant in the country, the Brazilian president's son and lawmaker Eduardo Bolsonaro said on Twitter on Thursday. The lawmaker said there has been a video conference with William Popp, charge d'affaires at the U.S. embassy in Brasilia, and Brazilian authorities to discuss the matter.

  • RABAT, Feb 20- It is premature to give precise projections of economic growth in China and the World in 2020 following the outbreak of coronavirus, IMF Managing Director Kristalina Georgieva said on Thursday. The IMF is still reviewing its projections for growth in China while looking at the impact of the epidemic on the global economy, Georgieva told a news...

  • BRASILIA, Feb 20- Brazil's real fell on Thursday, hitting an all-time low within sight of 4.40 per dollar as this week's steady decline gathered pace on the back of soft domestic inflation data and a wider emerging market currency selloff against a buoyant greenback. The market has no reason to question the move, "said Cleber Alessie Machado, broker at Commcor DTVM...

  • CARACAS, Feb 19- Venezuelan President Nicolas Maduro said on Wednesday he would create a presidential commission to restructure the country's beleaguered oil industry, which will be led by Vice President for the Economy Tareck El Aissami. The announcement came a day after the United States sanctioned Rosneft Trading, a unit of Russian state oil company...

  • BUENOS AIRES, Feb 19- The International Monetary Fund said on Wednesday that Argentina's debts were "unsustainable" and that bondholders in debt talks with the South American country would need to make a meaningful contribution to resolve the crisis. The statement lends support to Argentina's new Peronist government which has maintained it cannot pay its...

  • "It's been very hard on these specific areas, but in terms of the total production of the country, the effect has been marginal," said German Heinzenknecht, a meteorologist at consultancy Applied Climatology in Buenos Aires. "The forecast for the next 10 days is very dry over most of the country, which would help wet areas dry down," said Isaac Hankes, a weather analyst at...