Anglo-Australian Rio Tinto Group is selling mining assets in Argentina, Brazil and Canada to Brazilian competitor Vale Doce for 1.6 billion US dollars in an attempt to reduce its 39 billion debt load y 10 billion. The group also admitted it was considering a big equity issue.
A pharmaceutical giant was created Monday after US drug maker Pfizer announced it would be acquiring Wyeth in a 68 billion US dollars merger deal that could spark hopes of further consolidation across the industry.
At a time when large raw materials companies around the world are cutting back budgets in the face of falling prices and demand Brazil's government managed oil and gas corporation Petrobras announced a 55% increase in its five year investment plan.
Italian carmaker Fiat and US giant Chrysler have agreed to create a global strategic alliance, the companies said in a statement. Under the terms of the deal, Fiat will get a 35% stake in Chrysler. In return, the US firm will get access to Fiat's fuel-efficient vehicle technologies.It is hoped the agreement will lead to substantial savings for Chrysler.
Iran will loan more than 200 million US dollars to Ecuador and will study several investment projects in the country, Ecuador's President Rafael Correa announced during his Saturday radio and television program.
A battle trophy taken from a patrol boat after the Argentine surrender of the Falkland Islands conflict in 1982 is expected to reach hundreds of pounds at auction, reports The News from Portsmouth.
Brazil's greatest living architect Oscar Niemeyer has presented the blueprint for a new project, The Sovereignty Plaza to be built next to the Ministries esplanade in Brasilia. The official opening is scheduled for April 21st, 2010 when the capital city he designed will be celebrating half a century.
Brazil has 43 million Internet users, according to Ibope/NetRatings statistics for the year 2008 published in the business daily Valor. The number of cybernauts could be even greater since the statistics included only people over 16 with Web access from home, workplaces, schools, libraries and Internet cafes, the newspaper said.
Argentine builders stumbled across the wreck of an 18th century Spanish galleon while digging the foundations for a riverside high-rise building in Buenos Aires, archeologists said on Tuesday.
One of Buenos Aires city most exclusive apartments, a lavish flat with five dormitories and three terraces with a 360 degrees view on the fourteenth story is on sale for the modest sum of 6 million US dollars.