Edition:
United States

Christian Plumb

Brazil's Vale announces writedowns, profit after dam disaster

Mar 27 2019

SAO PAULO Brazilian iron ore miner Vale on Wednesday announced a series of writedowns and provisions related to the Brumadinho tailings dam collapse that killed some 300 people two months ago, saying there would be an affect on future results.

Vale investors seek clarity two months after Brazil dam burst

Mar 26 2019

SAO PAULO Vale SA, the world's largest iron ore miner, is set to report fourth-quarter earnings on Wednesday but those results now look like ancient history as the company grapples with fallout from a second deadly dam burst in less than four years.

Brazilian graft probe puts Swedish firm AF under microscope

Mar 22 2019

SAO PAULO The arrest of a former Brazilian president on corruption charges is raising questions about how a Swedish consulting company won a contract to help build a nuclear power plant at the center of what prosecutors say was a massive bribery and kickback scheme.

Brazil's Vale fired inspection firm that failed to certify dam: prosecutors

Mar 04 2019

SAO PAULO/RIO DE JANEIRO Brazilian iron ore miner Vale fired an inspection firm because the company refused to certify one of its dams as safe, months before the barrier collapsed and killed hundreds, prosecutors said in a document filed this week, as they explained why they wanted top Vale executives ousted.

Brazilian state cancels Vale licenses at two mines in wake of disaster

Feb 06 2019

SAO PAULO The Brazilian state of Minas Gerais canceled Vale SA's license to operate a dam at one of its largest mines, the company said on Wednesday, following the collapse of another dam in the state that killed an estimated 300 people.

Vale to invest $400 mln to reduce need for tailings dams

Feb 06 2019

SAO PAULO, Feb 6 Vale SA, the world's largest iron ore miner, plans to invest some 1.5 billion reais ($400 million) starting in 2020 to reduce its reliance on tailings dams, it said late on Tuesday, after one collapsed last month, likely killing hundreds.

Why Brazil's business elites are warming to a far-right flamethrower for president

Oct 01 2018

SAO PAULO/BRASILIA Brazil's business class is quietly rooting for far-right presidential candidate Jair Bolsonaro to win the nation's highest office this month, fearful of a return to leftist rule in Latin America's largest economy.

RPT-ANALYSIS-Why Brazil's business elites are warming to a far-right flamethrower for president

Oct 01 2018

SAO PAULO/BRASILIA, Oct 1 Brazil's business class is quietly rooting for far-right presidential candidate Jair Bolsonaro to win the nation's highest office this month, fearful of a return to leftist rule in Latin America's largest economy.

Brazil Workers Party would use currency reserves for infrastructure

Jul 24 2018

SAO PAULO Brazil's leftist Workers Party would use part of the country's $380 billion in currency reserves to finance an infrastructure development fund if victorious in October presidential elections, a party official said in an interview.

Swiss finance minister says franc 'overvalued' but liveable

Jul 18 2018

SAO PAULO Switzerland's Finance Minister Ueli Maurer said in an interview on Wednesday that the Swiss franc was overvalued relative to the euro, but added that the country and its companies "can live with" the current exchange rate.

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