South America

Results for South America

Brazil Oi Creditors File U.S. Motion as Bankruptcy Negotiations Continue

Creditors of Brazil's Oi SA filed a motion this week in U.S. bankruptcy court to pressure the telephone operator to consider a proposal which could give lenders control of the restructured company, a source close to the lenders said. The creditors b ...

Daily Headline - global.abi.org - 05/23/2017 - 20:47 - 0 comments

Brazil’s Odebrecht Energy Unit Renegotiates $5 Billion in Debt

Troubled engineering conglomerate Odebrecht SA’s oil and gas arm said late Tuesday it has entered into an agreement with a group of creditors to restructure its financial debt, The Wall Street Journal reported. Odebrecht Óleo e Gás said it filed the ...

Daily Headline - global.abi.org - 05/23/2017 - 20:49 - 0 comments

Brazil's Assets Dive as Political Crisis Engulfs President Temer

Brazil’s real, stocks and bonds tumbled as a fresh political crisis ensnared President Michel Temer and threatened to derail an agenda designed to pull Latin America’s largest economy out of its deepest recession on record, Bloomberg News reported. Tradi ...

Daily Headline - global.abi.org - 05/18/2017 - 22:11 - 0 comments

Brazil Watchdog Sees Further Delay in Abengoa's Power Line Project

Brazil's electricity watchdog Aneel expects a further delay in the construction of 6,000 kilometers of power lines licensed to Abengoa SA, raising concern over the reliability of the country's grid as a massive new dam comes online, according t ...

Daily Headline - global.abi.org - 05/17/2017 - 23:01 - 0 comments

Brazilian Banks Turn Up Heat on Scandal-Hit Odebrecht

Banks are raising the heat on Brazilian conglomerate Odebrecht SA to put its house in order after months of treating the scandal-hit company with kid gloves because of fears its collapse could hurt their balance sheets, sources said. Odebrecht has agreed ...

Daily Headline - global.abi.org - 05/15/2017 - 22:42 - 0 comments

Investors Celebrate Temer Austerity While Brazilians Lose Jobs

the rise of the unemployment rate accelerated, jumping to a record high of 13.7 percent in March from ...

Daily Headline - global.abi.org - 05/14/2017 - 22:28 - 0 comments

Brazil Plans Changes to Bankruptcy Law to Bolster Recovery

The Brazilian government plans to change the bankruptcy law to help indebted firms emerge faster from creditor protection, Finance Minister Henrique Meirelles told a newspaper. The changes would reduce the average length of bankruptcy protection to two y ...

Daily Headline - global.abi.org - 05/09/2017 - 22:46 - 0 comments

Global Default Risks Mostly Receded in Past Year

edging up markedly by 0.5 percentage point to 3.6 percent in 2017 ... This would be the strongest ...

Daily Headline - global.abi.org - 05/09/2017 - 23:00 - 0 comments

Odebrecht Testimony in Brazil Points to Pemex Bribe in Mexico

A former top official of Brazilian construction giant Odebrecht SA testified that he was asked in 2014 to bribe the then-head of Mexican state oil firm Petróleos Mexicanos, according to a document filed with Brazil’s Supreme Court as part of a broader co ...

Daily Headline - global.abi.org - 05/07/2017 - 22:19 - 0 comments

Caracas Burns, Traders Buy Big: Venezuelan Credit Dashboard

Massive anti-government protests in Venezuela that have left about 30 people dead couldn’t stem the biggest rally in two years for the country’s bonds, Bloomberg News reported. Despite food and medicine shortages, the government has reiterated its willin ...

Daily Headline - global.abi.org - 05/03/2017 - 20:15 - 0 comments

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