News of company

Brazil's Vale to pay $7bn in damages for deadly 2019 dam collapse

05-02-2021 13:28 The Brazilian company responsible for the 2019 collapse of a mining waste dam killed 270 people has agreed to compensate victims and their families and fund socio-economic programs and repair projects in the local area, but victims say the amount should have been higher.

by Jordi Miro, AFP

AUTO-MANUFACTURER

Ford to close factories, end manufacturing in Brazil

11-01-2021 18:13 Carmaker Ford said Monday it would close its factories in Brazil this year as the impacts of the coronavirus epidemic hammered sales in Latin America.

ARGENTINA ABLAZE

Authorities demand probe as fire ravages Jujuy national park

20-10-2020 22:28 Authorities at Calilegua National Park file writ demanding investigation into causes of a fire thought to have started on neighbouring land owned by Ledesma sugar giant. Company says it is cooperating with efforts to tackle the blaze.

by Nick Evans

Business departure

Falabella announces closure of four stores in Argentina

15-09-2020 08:07 Chilean department store chain to close four shops in Buenos Aires and look for "strategic partner" for remaining business interests in Argentina.

Coronanomics

Zoom stock surges, market value tops Boeing, Starbucks

01-09-2020 22:26 Zoom's market value is now higher than US$129 billion. The company reported explosive growth during the second quarter as more people paid for subscriptions, giving them more control over virtual meetings.

expropriation of Vicentin

Fernández says he won't expropriate soy trader Vicentin in U-turn

01-08-2020 08:13 The government won’t risk taking on Vicentin’s private debt and making Argentines responsible for its management’s “irresponsible” decision-making, President Alberto Fernández said on Twitter, criticising the judge overseeing bankruptcy proceedings.

BLOOMBERG

Creditors allege Vicentin soy giant siphoned off US$400 million

05-07-2020 08:10 Banks are asking a New York judge to subpoena more documents from bankrupt soy-export giant Vicentin, saying there may have been “major international financial impropriety” that saw US$400 million drained from the firm.

expropriation of Vicentin

Vicentin tensions rise amid protests, Fernández backlash

22-06-2020 08:42 Thousands of Argentines in Santa Fe Province, where Vicentin is headquartered, and other cities, expressed anger at the expropriation plan on Saturday, as President Alberto Fernández insisted on nationalising the company.

US SANCTIONS

Chevron boosts Venezuela oil output as US eyes new sanctions

11-02-2020 15:59 With the end of its waiver looming, Chevron has increased production to levels not seen in nearly a year. As Socialist leader Nicolas Maduro seeks to reduce US control over Venezuela's huge oil reserves.

BLOOMBERG

Banco Nación will fight Vicentín debt restructuring

03-01-2020 14:07 Officials at state-owned bank have told agricultural company it needs to raise cash now. They’re also investigating a loan made to the company for irregularities, according to reports.