South America

Results for South America

S&P Warns Brazil Credit Rating At Risk

Standard & Poor’s warned Brazil on Tuesday that its investment grade rating was at risk as falling growth and political infighting hurt efforts to restore order to public finances. The agency placed Brazil’s foreign currency rating, which is one notc ...

Daily Headline - global.abi.org - 07/28/2015 - 20:21 - 0 comments

Brazil Court Approves DIP Loan For Engineering Firm OAS

A Brazilian court approved a debtor-in-possession loan to engineering firm OAS SA, the company said, after it earlier this year filed for bankruptcy protection in the wake of a corruption investigation that shut its access to refinancing. In a statement ...

Daily Headline - global.abi.org - 07/15/2015 - 22:37 - 0 comments

Budget Axe Falling Too Heavily On Us, Say Brazilian Businesses

Most industrialists acknowledge the need to tackle the budget deficit, which at 7 per cent last year was the worst in a decade, the Financial Times reported. But many industries in Brazil are ... acknowledge the need to tackle the budget deficit, which at 7 per cent last year was the worst in a decade, ...

Daily Headline - global.abi.org - 07/14/2015 - 20:54 - 0 comments

Brazil Police Seize Documents From Politicians in Petrobras Probe

Brazilian federal police carried out search-and-seizure requests Tuesday against several local politicians, including former President Fernando Collor de Mello, as part of an investigation into an alleged corruption scheme at state-run oil firm Petróleo ...

Daily Headline - global.abi.org - 07/14/2015 - 20:54 - 0 comments

Venezuela Needs Debt Refinancing, Not Default

Venezuela must refinance its foreign debt to improve government cash flow in the face of recession and soaring inflation, opposition leader Henrique Capriles said on Tuesday, but added a default would have "terrible consequences" for the countr ...

Daily Headline - global.abi.org - 07/14/2015 - 21:08 - 0 comments

Greek Woe Brings Powerful Sense Of Déjà Vu For Argentina

On a cruise round the Mediterranean, Domingo Cavallo, Argentina’s economy minister in the run-up to the country’s dramatic economic collapse in 2001, was bemused when he was unable to use his credit card during a brief stop-off on Greek soil last week, t ...

Daily Headline - global.abi.org - 07/09/2015 - 22:49 - 0 comments

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

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