South America

Results for South America

Bankruptcy Filing By Brazil's Oi Rattles Global Supply Chain

Brazil's biggest bankruptcy filing ever is sending shockwaves far beyond the recession-hit country's borders as operator Oi SA seeks creditor protection from global telecoms suppliers and export banks around the world. Oi is seeking protection ...

Daily Headline - global.abi.org - 06/23/2016 - 22:52 - 0 comments

Brazil to Bail Out State of Rio de Janeiro

Brazil’s federal government plans to bail out the state of Rio de Janeiro with 2.9 billion reais ($849 million) as it struggles with a fiscal crisis less than two months before the Olympic Games begin, The Wall Street Journal reported. According to a ...

Daily Headline - global.abi.org - 06/22/2016 - 19:57 - 0 comments

Brazil’s Oi Seeks Bankruptcy Protection in the U.S.

Brazil’s Oi SA, a telecommunications company that recently filed the largest bankruptcy in the country’s history, is seeking court protection in the U.S. to shield its assets from an affiliate of hedge fund Aurelius Capital Management LP, one of its hold ...

Daily Headline - global.abi.org - 06/22/2016 - 19:59 - 0 comments

Brazilian Banks Solid After Oi Bankruptcy Petition -Central Bank

The bankruptcy petition of mobile phone carrier Oi SA, the biggest ever in Brazil, poses no threat to the country's financial system, central bank director Aldo Mendes said on Tuesday, Reuters reported. The company's petition late on Monday to ...

Daily Headline - global.abi.org - 06/21/2016 - 20:21 - 0 comments

Telecom Oi Files Largest Bankruptcy Request in Brazil’s History

Brazil’s troubled telephone company Oi SA on Monday filed the largest bankruptcy protection request in the country’s history just days after debt restructuring talks with creditors collapsed, The Wall Street Journal reported. The filing of Oi and six ...

Daily Headline - global.abi.org - 06/20/2016 - 21:54 - 0 comments

Venezuela 2016 Default Likely, PDVSA May Go First, Moody’s Says

Venezuela is “highly unlikely” to have enough hard currency to fully make its debt payments this year, although a default isn’t inevitable, according to a report from Moody’s Investors Service, Bloomberg News reported. State-owned oil company Petroleos d ...

Daily Headline - global.abi.org - 06/20/2016 - 21:55 - 0 comments

Venezuelans Ransack Stores as Hunger Grips the Nation

Venezuela is convulsing from hunger, the International New York Times reported. Hundreds of people here in the city of Cumaná, home to one of the region’s independence heroes, marched on a supermarket in recent days, screaming for food. They forced o ...

Daily Headline - global.abi.org - 06/20/2016 - 21:56 - 0 comments

Brazil Plans Budget Freeze For Up To 20 Years

An ambitious constitutional amendment to freeze budget spending would cut the uncertainty over public finances that is the root cause of Brazil’s deep recession, according to the country’s new finance minister, the Irish Times reported on a Financi ...

Daily Headline - global.abi.org - 06/19/2016 - 22:09 - 0 comments

In China, Venezuela Default Talk Is Front-Page News

Whether crisis-ridden Venezuela will default is a question increasingly on the minds of bond traders. It’s now also one that is getting front-page treatment from China, one of the Latin American country’s biggest financial backers, Bloomberg News reporte ...

Daily Headline - global.abi.org - 06/16/2016 - 22:07 - 0 comments

Macri Eyes $400 Billion Foreign Cash Stash

For Mauricio Macri, there may be a silver lining to the Panama Papers scandal that has dogged Argentina’s new president since he was accused of ties with offshore shell companies earlier this year, the Financial Times reported. Mr Macri is hoping tha ...

Daily Headline - global.abi.org - 06/05/2016 - 22:16 - 0 comments

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