Latin America

http://online.wsj.com/article/SB10001424127887323582904578489470877343446.html?mod=fox_australian Argentina Peso Rises; Intervention Is Cited May 17, 2013 BY KEN PARKS AND PRABHA NATARAJAN The Argentine peso is rallying after the government launched an aggressive intervention to reverse the currency’s slide in the black market, traders say. The peso firmed 12% in the past week to 8.95 per dollar on the black market… Continue Reading

http://blogs.wsj.com/moneybeat/2013/05/16/brazils-oil-exploration-auction-bodes-well-for-output/?mod=WSJBlog Brazil’s Oil Exploration Auction Bodes Well For Output May 16, 2013 By Charles Roth Brazil’s eleventh round of oil exploration blocks was widely seen as a success. The two-day affair this week was done in just one, with huge interest from dozens of participating oil companies leading to a record BRL2.88 billion ($1.4 billion)… Continue Reading

http://online.wsj.com/article/SB10001424127887324767004578484992373758094.html?mod=pls_whats_news_us_business_f In Mexico, Troubling Times Home Builders Miss Debt Payments and Reach Out to Bankruptcy Advisers 16 May 2013 By EMILY GLAZER And AMY GUTHRIE Mexican home builders and their creditors have been hiring U.S. bankruptcy lawyers and other advisers, as the companies struggle with mounting debt obligations. Two of the country’s leading builders—Urbi Desarrollos… Continue Reading

http://www.forbes.com/sites/kenrapoza/2013/05/15/are-brazilians-getting-priced-out/ Are Brazilians Getting Priced Out? Kenneth Rapoza, Contributor | 16 MAY 2013 Brazilians may be getting priced out. Priced out of the auto market (without government tax breaks that make cars affordable). Priced out of nice neighborhoods. And priced out of the shopping malls and Pao de Acucar grocery stores. Of course, that is… Continue Reading

http://www.plenglish.com//index.php?option=com_content&task=view&id=1414981&Itemid=1 Million Dollar Fee Denounced for Chevron Mediator Against Ecuador Quito, May 15 (Prensa Latina) The mediator that presided over the case against Chevron-Texaco in Ecuador charged nearly a million dollars in fees, reported the Andes agency today, citing the Cecilia Olivet report, “When Injustice is a Business.” The mediator, who presided over the case… Continue Reading

http://www.plenglish.com//index.php?option=com_content&task=view&id=1415281&Itemid=1 Caribbean Airlines Lost US$70 Million Last Year Port Spain, 15 May (Prensa Latina) Finance Minister Larry Howai says Caribbean Airlines lost US$70 million last year, And if the fuel subsidy is added, the total loss would be US$110. However, he said the airline remains solvent. As he fielded questions about the cash strapped airline,… Continue Reading

http://www.zerohedge.com/news/2013-05-15/argentines-are-hoarding-1-every-15-cash-dollars-world Argentines Are Hoarding 1 Of Every 15 Cash Dollars In The World Submitted by Tyler Durden on 05/15/2013 With the shadow (or blue) market for Argentina Pesos already devalued by an incredible 50%, it is little surprise that the population is bidding for any store of value. Demand for luxury cars is soaring (BMW… Continue Reading

http://www.zerohedge.com/news/2013-05-14/argentina-peso-gap-between-official-and-black-market-rate-hits-100 Argentina Peso Gap Between Official And Black Market Rate Hits To 100%, BMWs Become Inflation Hedge Submitted by Tyler Durden on 05/14/20 Despite efforts by the government to quell the black-market (or blue-dollar) for Argentina’s foreign exchange, the unofficial rate surged yesterday to 10.45 Pesos per USD. This is now double the official rate… Continue Reading

http://www.reuters.com/article/2013/05/13/us-argentina-debt-idUSBRE94C0AB20130513 Argentina faces very different debt default if loses legal fight By Hilary Burke BUENOS AIRES | Mon May 13, 2013 7:06am EDT (Reuters) – When Argentina defaulted on its debt in 2002, the economy was collapsing and a bloody popular revolt had helped topple two presidents in a week. Now, the country could default… Continue Reading

http://online.wsj.com/article/SB10001424127887323716304578481223474475766.html?mod=fox_australian Petrobras Sells $11 Billion in Bonds Deal Is Largest Emerging-Market Debt Sale on Record, as Brazilian Oil Company Ramps Up to Expand May 13, 2013 BY ROGERIO JELMAYER AND PRABHA NATARAJAN Brazilian oil company Petróleo Brasileiro SA sold $11 billion of bonds, the biggest emerging-market debt sale on record. The bond issue was the… Continue Reading