South America

Results for South America

Companies Avoid Paying $200 Billion in Tax

Businesses avoid paying $200 billion annually in taxes by channeling their overseas’ investments through offshore financial hubs, a United Nations agency said Wednesday, The Wall Street Journal reported. The estimate by the United Nations Conference ...

Daily Headline - global.abi.org - 06/24/2015 - 23:02 - 0 comments

Brazil's OAS Unveils Restructuring Plan Ahead Of Deadline

Brazilian engineering and construction conglomerate OAS S.A. late on Friday unveiled a restructuring plan to a Sao Paulo court, the latest step in a plan to avert bankruptcy amid a corruption scandal at Petróleo Brasileiro SA, Reuters reported. The plan, ...

Daily Headline - global.abi.org - 06/21/2015 - 22:47 - 0 comments

Brazil Arrests Head of Odebrecht in Petrobras Scandal

In a related story, the International New York Times reported that Brazilian police on Friday arrested one of the country’s richest men, Marcelo Odebrecht, as the fallout broadens in an investigation into corruption at the state-run oil giant Petrobr ...

Daily Headline - global.abi.org - 06/21/2015 - 22:47 - 0 comments

Brazil Power Producer Eneva Missed June 15 Debt Payment

Brazilian power producer Eneva SA, which filed for bankruptcy protection in December, said on Tuesday it failed to meet a debt payment on June 15 after one of its creditors refused to postpone the maturity date, Reuters reported. The company, which is co ...

Daily Headline - global.abi.org - 06/16/2015 - 22:14 - 0 comments

Brazil Outlines $65 Billion Infrastructure Package

Dilma Rousseff stepped up her campaign to rescue Brazil’s flagging economy, announcing an infrastructure package worth almost R$200bn ($65bn) on Tuesday, the Financial Times reported. Brazil’s president outlined plans to sell to the private sector new concessions to build and operate nearly 7 ...

Daily Headline - global.abi.org - 06/09/2015 - 22:31 - 0 comments

Tax Proposals For Multinationals Will Have ‘Massive Impact’

Proposed new obligations on multinationals to produce country-by-country reports on their financial affairs will have a “massive impact” on them, a leading member of the Organisation for Economic Development and Cooperation has said, the Irish Times ...

Daily Headline - global.abi.org - 06/08/2015 - 22:02 - 0 comments

Brazil Treads Fine Line Between Inflation And Contraction

South America’s largest economy faces a difficult balancing act to avoid a potentially disastrous spiral of economic contraction as it seeks to control inflation, the Financial Times reported. Brazil’s planning minister Nelson Barbosa warned that he ...

Daily Headline - global.abi.org - 06/08/2015 - 22:04 - 0 comments

Temporary, Casual And Self-Employed Account For 75% Of Workers

Three-quarters of the world’s workers are temporary, casual or self-employed and this sort of employment is likely to become more prevalent, says the International Labour Organisation. The ILO, a UN agency that specialises in work, analysed employment pa ...

Daily Headline - global.abi.org - 05/18/2015 - 23:16 - 0 comments

Itaú-led Group Sues Brazil's Schahin For $371 Million In Overdue Loans

Thirteen Brazilian and international banks filed a lawsuit in New York on Tuesday against two units of ailing engineering and oil conglomerate Grupo Schahin to recover $371 million in overdue principal and interest on loans, Reuters reported. The lawsuit ...

Daily Headline - global.abi.org - 05/13/2015 - 22:30 - 0 comments

Venezuela’s Economy Suffers as Import Schemes Siphon Billions

For years, Venezuela has had a hole in its pocket, a very big hole. The government’s complex currency system has led to exorbitant schemes by importers, who wildly inflate the value of goods brought into the country to grab American dollars at rock-botto ...

Daily Headline - global.abi.org - 05/05/2015 - 21:52 - 0 comments

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