South/Central America

Brazil's reais

Brazil is financially ruined, under recession

Whether Brazilians like it or not they are again headed for their worst economic crisis. The government reported Friday that the country's gross domestic product (GDP) had plunged 1.9% in Q2 alone and once again putting the nation into a technical recession.

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McDonalds

McDonald's hit with labor and tax malpractice allegations during Brazil hearing

Fast-food giant, McDonald's was recently hit with allegations suggesting that the company has been avoiding making tax payments and abusing their employees during a hearing held in Brazil.

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Venezuela's currency

Venezuela's currency against US dollar tumbles 737%

The value of Venezuela's currency, the Bolivar, has nose-dived too fast and has now reached a point where it's worth less than a penny on the US dollar.

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Fiscal crisis in Puerto Rico

Puerto Rico responds to fiscal crisis with a regressive tax that could hurt country's bottom line, poor people

Puerto Rico is jacking up its sales tax in a bid to address its fiscal problems. This is considered a regressive move that could ultimately hurt the country's bottom line and its countless poor people.

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Mexican peso bills

Mexican government hikes dollar auction by almost 4 folds; holds rates

The continuous fall of peso currency is giving jitters to the Mexican economy. The second largest economy in Latin America is making all the possible efforts to prevent the arrest of its falling peso. It increased dollar auction level by almost four times to support the weakening peso.

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Juan Carlos Zepeda

Mexico auctions oil blocks to increase production but failed to attract giant international companies

Mexico kicked out foreign companies 77 years ago, but just last Wednesday the tables seem to turn as its government auctioned 14 exploration blocks to attract international energy companies, which will hopefully redeem the country's dwindling production.

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Buenos Aires

Buenos Aires raids whistleblower of bugs in election software; ISPs ordered to block several websites

A local judge in Buenos Aires has allegedly ordered a raid on the home of a technologist who had disclosed insecurities and weak spots in the source code of the software which will be used to tally votes in the second round of the Argentine capital's upcoming mayoralty elections.

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Pope Francis and Bolivian President Evo Morales

Pope Francis Protested Against Unbridled Capitalism

Pope Francis complained over unbridled capitalism and the worship of money in a speech he made during his visit in Asuncion, Paraguay on July 12, one of the three countries in South America he visited over the weekend, including Bolivia and Ecuador. Accordingly, Bolivian President Evo Morales said that Pope Francis is preaching socialism, saying that the Pope is the "first and the best politician in the world".

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Wi-Fi

Cuba, an Internet laggard, opens Wi-Fi hotspots across country

Cuba has opened 35 Wi-Fi access points nationwide, offering unprecedented online access in a country that until now has restricted use of the Internet to an elite few.

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Petrobras

Ethanol unit sale by Brazil's Petrobras hits snag: sources

Plans by Brazil's Petrobras to sell its stake in ethanol and sugar producer Guarani SA have hit a snag as the state-run oil company has not been offered enough money for the asset, two sources with direct knowledge of the matter said.

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BlackRock Inc.

BlackRock to buy Mexican fund tied to scandal-hit contractor

BlackRock Inc (BLK.N), the world's largest asset manager, has agreed to buy a Mexican infrastructure investment fund that financed projects for a contractor at the center of a scandal which embroiled President Enrique Pena Nieto.

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Diageo

Brazil billionaire Lemann studies bid for Diageo: report

Brazilian billionaire Jorge Paulo Lemann and his partners in private equity firm 3G Capital are considering a potential bid for Diageo PLC, the world's largest producer of spirits, the Brazilian newsweekly Veja reported on Friday.

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Li Keqiang

China's Premier Li sees growth of 7.0 percent in 2015

China's economy is expected to grow at 7.0 percent this year, Chinese Premier Li Keqiang said on Monday. Speaking at the headquarters of the United Nations' Latin American arm ECLAC in Chilean capital Santiago, Li said that data in April and May data showed the Chinese economy had maintained momentum.

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Joaquim Levy

Brazil's Levy says budget freeze adequate, worried about revenue

Brazilian Finance Minister Joaquim Levy said on Monday that the size of the budget freeze announced last week was "adequate," but he expressed concern about the forecast for government revenues this year.

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Grupo BTG Pactual

Brazil's BTG Pactual, P2 sell energy company to SunEdison

Brazilian investment bank BTG Pactual SA (BPAC3.SA) and its partners P2Brasil and GMR Energia jointly sold 100 percent of renewable energy company Latin America Power (LAP) to SunEdison, BTG and P2 said on Thursday.

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