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Venezuela raised the minimum wage by 30% as part of efforts to help workers who are reeling from the oil-rich country’s crumbling economy.
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Brazilian state-run energy giant Petróleo Brasileiro underwent a board shake-up that went mostly as expected, with its interim chairman being replaced by the chief executive of the country’s top mining company.
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Vale, the world’s largest iron-ore producer, gave the strongest signals yet Thursday that it could temper output in the face of an oversupplied global market. The head of the company’s ferrous division said it remained committed to increasing capacity, but may idle up to 30 million tons of higher-cost production.
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Three independent members of the board of directors of Brazil’s state-run Petróleo Brasileiro SA strongly criticized the company’s calculations of its 2014 financial results before the firm’s earnings were released last week.
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Brazil’s state oil company Petróleo Brasileiro will have to carry a heavy debt load for the time being and strengthen governance to mitigate corruption risks, CEO Aldemir Bendine said Tuesday.
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The Detroit Three auto makers accounted for half the cars sold in Brazil last year and no company has more at stake than Fiat Chrysler, the nation’s market leader by vehicles sold.
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The U.S. private-equity firm is pouring cash into projects associated with two of Brazil’s most tarnished names—Petrobras and former tycoon Eike Batista.
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Home-rental service Airbnb said it began offering accommodations to licensed U.S. travelers in Cuba, becoming the latest U.S. business to tap opportunities made possible by thawing U.S.-Cuba relations.
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The Moto G has become the best-selling smartphone in Brazil, helping Motorola double its market share to 18% of unit shipments. The Moto G’s runaway popularity indicates the extent to which lower-priced, midtier cellphones will be increasingly important for vendors globally.
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Brazil’s government nominated the chief executive of mining giant Vale as the next board chairman of state-run oil firm Petrobras, disappointing those who were looking for sweeping changes at the oil company.
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Pemex has landed its first major investment since an energy overhaul opened the sector to private players. BlackRock and First Reserve will put up about $900 million for a 45% stake in a pipeline project.
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Beneficiaries of Caracas’s declining energy diplomacy take a U.S.-spured path towards renewable power.
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A U.S. federal judge in New York dismissed Thursday remaining claims for defamation against two young Venezuelan businessmen brought by a former top U.S. diplomat two years ago.
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Colombian justice officials called for an investigation of former President Álvaro Uribe and five of his top aides for their role in the illegal wiretapping and espionage carried out during his administration, in a case that has divided the South American country.
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The Calbuco volcano in southern Chile erupted on Thursday for the third time in a little more than a week, spewing an enormous cloud of ash.
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Brazil’s central bank raised its benchmark interest rate to 13.25%, from 12.75%, extending a tightening cycle analysts say is approaching its end.
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Chile and Peru have ended a diplomatic dispute caused by Peru’s allegations that Chilean agents hired Peruvian military officers to act as spies, which led to a cooling of relations between the two neighbors.
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Chilean President Michelle Bachelet said she would rewrite her country’s constitution and tackle corruption following several scandals that have rocked the nation’s political establishment and economic elite.
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Brazil’s Supreme Court said Tuesday it has allowed the release from jail of nine executives accused in the alleged graft scheme at government-run energy firm Petróleo Brasileiro SA, or Petrobras.
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Ecuador’s National Assembly approved on Tuesday a bill that aims to raise at least $500 million by encouraging taxpayers to pay off debt owed to the Internal Revenue Service by forgiving interest and other penalties.
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Venezuela’s government, which heavily subsidizes electricity, will start rationing power nationwide as it faces a surge in demand for air conditioning amid a continuing heat wave, officials said.
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Colombian justice officials called for an investigation of former President Álvaro Uribe and five of his top aides for their role in the illegal wiretapping and espionage carried out during his administration, in a case that has divided the South American country.
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Scenic Andean road that scared away most motorists after 200 to 300 of them per year died has become a big attraction for thrill-seeking cyclists drawn to its beauty and danger—but not all survive.
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At least five shipping companies applied for special licenses to relaunch overnight ferry services from ports in Florida.
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Cab drivers hope a détente with U.S. leads to change—and if nothing else, spare parts for a 1950s-era Chevrolet
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A volcano in southern Chile on Thursday erupted for a second time, alarming residents in a popular tourist region as it shot smoke and ash some 7 miles into the air.
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