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MercoPress, en Español

Montevideo, July 8th 2026 - 19:06 UTC

Economy

  • Tuesday, April 5th 2016 - 05:53 UTC

    US looking for evidence of corruption and violation of US law in Panama Papers

    “The US Department of Justice takes very seriously all credible allegations of high level, foreign corruption that might have a link to the US” said Peter Carr

    The United Stated Department is reviewing the leaked documents from a Panamanian law firm that reveal the offshore financial arrangements of global politicians and public figures, a department spokesman said on Monday. The department is determining whether the documents point to evidence of corruption and other violations of US law.

  • Tuesday, April 5th 2016 - 05:47 UTC

    Panama Papers: Brazil with 57 names including companies and politicians from all parties

    O Estado said names in the leaked files included politicians from Brazil's largest party PMDB, which broke away from President Rousseff's coalition last week.

    Politicians from seven parties in Brazil were named as clients of a Panama-based firm at the center of a massive data leak over possible tax evasion, O Estado de S.Paulo said on Monday.

  • Monday, April 4th 2016 - 19:15 UTC

    Magallanes region has the lowest unemployment rate in Chile, 1.8%

    Magallanes 1,8% confirms its ranking as Chile´s region with lowest unemployment rate, followed by Los Lagos with a 2.2% rate and Aysén with 3.4%.

    The unemployment rate in Magallanes extreme south region of Chile recorded 1.8% in the December-February quarter according to the country's Statistics Institute, INE, which compares favorably with 2.8% in the previous quarter and the national rate of 5.9%.

  • Monday, April 4th 2016 - 04:12 UTC

    Petrobras launches voluntary layoff program to cut 12.000 jobs

    Investors have long criticized Petrobras for over hiring and struggling to cut some of the 57,000 people it directly employs when things get tough.

    Brazil's embattled oil company Petrobras said it will launch a voluntary layoff program to cut an estimated 12,000 jobs in a bid to save up to 33 billion reais ($9.20 billion) by 2020. The program will cost 4.4 billion reais and is open to all employees, according to a statement from Petrobras, which has been hard hit by low oil prices, refinery project problems and a massive price-fixing, bribery and political kickback scandal.

  • Sunday, April 3rd 2016 - 07:52 UTC

    Mega corporation Odebrecht involved in Petrobras case, plans to sell assets to meet debt obligations

    Marcelo Odebrecht was sentenced to 19 years in prision

    Troubled Brazilian construction company Odebrecht SA plans to sell about 12 billion reais (US$3.4 billion) in assets to help meet its debt obligations, according to the builder’s chief executive officer. The company had a gross debt of 85 billion reais in 2014, the most recent figure available, but much of it is long-term debt and the biggest payments start only in 2025, Odebrecht CEO Newton de Souza said in an interview published Friday in the Folha de S. Paulo newspaper.

  • Sunday, April 3rd 2016 - 07:43 UTC

    US economy gains confidence: 215.000 more jobs in March and 1.4% growth in fourth quarter

    The US economy added 215,000 jobs in March, a little less than it did in February when 242,000 jobs were created. The unemployment rate has risen to 5% from 4.9%, which was an eight-year low, but the Labor Department said more Americans were finding jobs, which suggested a sign of confidence in the US economy. In effect this follows the report on the US economy which grew at an annualized rate of 1.4% in the fourth quarter of 2015s.

  • Sunday, April 3rd 2016 - 07:35 UTC

    Argentina promulgates bill which allows for payment of accord with bondholders

    The Argentine government made official the accord reached with the holdout funds sponsored by a New York federal court, to pay for defaulted bonds in a fifteen year litigation, following the approval of the bill by the Senate. This means Argentina can now look for funds in the international monetary market.

  • Sunday, April 3rd 2016 - 07:33 UTC

    Uruguay reaffirms allegiance to Mercosur but admits serious challenges

    Mercosur is a fundamental legal milestone in regional integration, and a turning point in the history of member countries, said Uruguay's foreign minister Rodolfo Nin Novoa during a conference celebrating the 25th anniversary, (March 1991), of the founding of the South American group, who nevertheless admitted serious challenges.

  • Saturday, April 2nd 2016 - 08:07 UTC

    Argentina and China reaffirm strategic relation and agree to review contracts

    The meeting of the two delegations headed by presidents Macri and Xi Jinping in Washington

    China has agreed to review contracts signed with Argentina, which need modifications, for the sake of transparency, according to Buenos Aires sources, but the overall strategic relation between the two countries and a raft of accords in different fields stands and is expected to continue to grow.

  • Saturday, April 2nd 2016 - 07:04 UTC

    How hedge funds held Argentina for ransom

    Companies involved include some of the best-known vulture funds, including NML Capital, subsidiary of Elliott Management, a hedge fund co-led by Paul Singer

    By Martin Guzman and Joseph E. Stiglitz (*) - Perhaps the most complex trial in history between a sovereign nation, Argentina, and its bondholders — including a group of United States-based hedge funds — officially came to an end yesterday (March 31) when the Argentine Senate ratified a settlement.