Latin America News
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Oi SA’s merger with Portugal Telecom SGPS SA is likely to bolster Brazil’s largest landline phone carrier as it battles better-equipped rivals in the world’s fifth-biggest wireless market. The shares fell on concern it won’t be enough.
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Brazil’s real declined from its highest level in two weeks after Moody’s Investors Service cited rising debt and weak growth in lowering its outlook on the nation’s credit rating to stable from positive.
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Moody’s Investors Service lowered its outlook on Brazil’s sovereign rating to stable from positive, citing deteriorating debt and investment ratios and evidence the economy is going through a low-growth period.
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The first face-to-face talks between President Barack Obama and congressional leaders failed to break the budget logjam as a partial U.S. government shutdown entered its third day.
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