UPDATE 1-Chile's Madeco first-half net profit falls 36.5 pct

(Reuters) - The company, which has subsidiaries in Argentina, Brazil, Peru
and Colombia, said profit was 12.975 billion pesos
in the January-to-June period compared with 20.445 billion pesos
in the year-earlier period.




Santiago-based Madeco said sales in the first half rose 12
percent to 317.765 billion pesos, from 283.642 billion a
year-earlier.


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Cosan sees IPO of 100 mln Class A common shares

(Reuters) - The Sao-Paulo Brazil-based company said it applied for a
New York Stock Exchange listing under the symbol "CZZ."





Read more at Reuters.com Government Filings News

Brazil issues warning to US over WTO cotton ruling

(Reuters) - Brazil on Friday pushed the United States to bring cotton subsidies in line with world trade rules, threatening retaliation if the world's largest cotton exporter does not comply with a new WTO ruling.

"We expect the United States to comply fully and immediately ... Brazil reserves its right to retaliate," Roberto Azevedo, a top Brazilian negotiator, said in Brasilia.


Read more at Reuters Africa

Sugar Futures Rise on Speculation Rain, Cold May Cut South America Output

(Bloomberg) -- Sugar rose the most in a week in New
York on speculation that heavy rain in Brazil, the world's
biggest producer, and a cold wave in Argentina may lower output,
easing concern of a global glut.

Rain in Sao Paulo, Brazil's main sugarcane-growing state,
has slowed the harvest and closed several mills, Michael
McDougall, a senior vice president for Fimat USA LLC in New York,
said in a report. Cold weather in Argentina may cut sugar output
by 200,000 metric tons to 2.4 million for the marketing year
starting Oct. 1, McDougall estimates.


Read more at Bloomberg Commodities News

America Movil, Asur, Gol, Suzano and Tam: Latin American Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil and Mexico today. Symbols
are in parentheses after the company name, and stock prices are
from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Brazil Stocks Gain, Led by Vale do Rio Doce, CSN; Grupo Mexico Advances

(Bloomberg) -- Brazil's main stock index rose for the
second time in three days, led by steel and mining companies, on
speculation that diversification will boost their profits.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange added 379.38, or 0.7 percent, to 57,822.12 as of 1:11 p.m.
New York time. Cia. Vale do Rio Doce, the world's biggest iron-ore
producer, led the gains. Mexico's benchmark Bolsa index climbed
163.75, or 0.5 percent, to 32,086.37.


Read more at Bloomberg Emerging Markets News

Natura Cosmeticos, Tam, Tim Participacoes, Vivo, Weg: Brazil Equity Movers

(Bloomberg) -- Brazil's main stock index fell for the
second time in three days, led by the country's second-biggest
mobile-phone company, Vivo Participacoes SA.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 237.20, or 0.4 percent, to 57,887.37 as of 9:30 a.m.
New York time.


Read more at Bloomberg Stocks News

Focus of Brazil air crash shifts away from runway

(Reuters) - Soon after Tuesday's fiery accident at Sao Paulo's Congonhas airport, which killed all 186 people on board and more on the ground, many officials and aviation experts blamed the rain-soaked runway where the plane skidded before slamming into a gas station and cargo terminal.




But a video of the botched landing by the Airbus A320 released by the national airport authority Infraero suggested other factors were also at play in Brazil's second major aviation disaster in less than a year.


Read more at Reuters.com Bonds News

Coffee Rises in New York on Concern Scarce Rain in Brazil May Damage Crop

(Bloomberg) -- Coffee rose for the third straight
session in New York as a lack of rainfall in Brazil, the world's
largest producer, increased concerns the next crop may be damaged
during its flowering phase.

The country's major coffee-growing areas will be mostly dry
for the next two to three weeks, said Dale Mohler, meteorologist
with AccuWeather Inc. in State College, Pennsylvania. Minas
Gerais, the biggest growing state, has received only 20 percent
of its average rainfall this winter, Mohler said. The next crop
begins to flower when Brazil's spring starts in September.


Read more at Bloomberg Commodities News

Zambia seeks debt relief from Russia, Iraq - finmin

(Reuters) - Zambia is seeking $600 million in debt relief from Russia, Iraq and other creditor countries that were not part of global debt relief plans agreed with the world's poorest nations in 2006, Finance Minister Ng'andu Magande said on Wednesday.

Magande said Zambia had written to Russia, Iraq, Bulgaria, Brazil and others asking them to cancel a total of $600 million in debt.


Read more at Reuters Africa

Bear Stearns, CSX, NovaStar, St. Jude, Tam, Yahoo: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 10:15 a.m. New York time.

Brazilian airline American depositary receipts fell after a
passenger plane owned by Tam SA crashed on landing at Sao Paulo's
domestic airport, killing as many as 200 people in the country's
worst air disaster. Tam's ADRs (TAM US), each worth one share,
fell $2.37, or 6.6 percent, to $33.46. Gol Linhas Aereas
Inteligentes SA's ADRs (GOL US), each worth one share, fell
$1.26, or 4.1 percent, to $29.15.


Read more at Bloomberg Stocks News

India Tata Tea competes with Coke for beverage buys

(Reuters) - "We increasingly bump into them and compete with
them," Peter Unsworth, chief operating officer at Tetley Group,
a unit of Tata Tea, said late on Tuesday.




He mentioned the example of Brazilian tea and beverage
maker Leao Junior, which Coca-Cola bought in March, that Tata
Tea was also considering.


Read more at Reuters.com Mergers News

Coffee Rebounds on Renewed Concern for Risk of Frost Damage to Brazil Crop

(Bloomberg) -- Coffee rose for the first time in
three sessions in New York as the winter season stoked concerns
that a frost may hurt crops in Brazil, the world's largest
producer.

``Everybody's got frost in their mind, even though I don't
think that we'll ever see a frost there again,'' said John Rose,
New York branch manager at Zaner Group LLC. ``Coffee crops have
been moved inland where there is less of a threat for frost. But
old habits die hard, and everybody remembers when it did
happen.''


Read more at Bloomberg Commodities News

America Movil, Bancolombia, Televisa: Latin American Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Colombia and Mexico
today. Symbols are in parentheses after the company name, and
stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Lula Prepares Brazil Tax-Overhaul Plan Aimed at Stopping Cheats, Smugglers

(Bloomberg) -- In a parking lot above the Parana
River, 4,500 seized vehicles testify to the risks Brazilians take
to avoid their country's tax burden, the heaviest in Latin
America.

The trucks and cars baking in the tropical sun were
confiscated while crossing the border from Paraguay on the nearby
Friendship Bridge. Drivers on the span get ample warning of the
penalties for smuggling, yet Paraguay's low taxes induce
thousands to try. Brazil's custom officials will give most of the
forfeited vehicles to schools, hospitals and towns.


Read more at Bloomberg Emerging Markets News

UPDATE 1-US's Paulson-new IMF chief should push reform

(Reuters) - BELO HORIZONTE, Brazil, July 10 - U.S. Treasury
Secretary Henry Paulson on Tuesday steered clear of endorsing
any particular candidate to take over the International
Monetary Fund but said it should be someone who keeps the drive
to reform it going.




The U.S. Treasury chief, in Brazil at the beginning of a
three-nation tour of Latin America, was asked by reporters
whether he was familiar with the candidacy of former French
Finance Minister Dominique Strauss-Kahn who has backing from
some European Union countries.


Read more at Reuters.com Bonds News

Coffee Falls in New York as Warm Weather Reduces Threat of Frost in Brazil

(Bloomberg) -- Coffee declined for the fifth straight
session in New York as forecasts for warm, dry weather eased
concerns that frost would damage the crop in Brazil, the world's
largest producer.

Temperatures in Brazil's coffee-growing areas are expected
to be near to above normal, with lows around 55 degrees
Fahrenheit (13 degrees Celsius), according to Meteorlogix LLC in
Woburn, Massachusetts. A ridge of high pressure over northern
Argentina is expected to move across southern Brazil this week,
posing no threat to the coffee belt, the forecaster said.


Read more at Bloomberg Commodities News

Sugar Rises as Crude Oil Rally May Boost Demand for Brazil's Cane Ethanol

(Bloomberg) -- Sugar in New York rose to the highest
in more than a week on speculation that rising crude oil prices
will increase demand for ethanol, the gasoline substitute made
from sugar cane.

Crude oil reached a 10-month high of $72.94 a barrel today
on speculation unrest in Nigeria, the biggest African producer,
may disrupt supplies. Mills in Brazil, the world's largest sugar
producer, are using more than half the country's cane crop to
make fuel instead of sweetener.


Read more at Bloomberg Commodities News

Coffee Falls in New York as Threat of Crop-Damaging Frost in Brazil Fades

(Bloomberg) -- Coffee fell in New York as forecasts
for warm weather reduced concerns that a frost would damage the
crop in Brazil, the world's largest producer.

Temperatures in Brazil's coffee-growing areas are expected
to be near to above normal, with lows of about 50 degrees
Fahrenheit (10 degrees Celsius), according to Meteorlogix LLC in
Woburn, Massachusetts. A ridge of high pressure will promote warm
and dry weather during the next week, the forecaster said.


Read more at Bloomberg Commodities News

Brazil stocks slip after record, currency falls

(Reuters) - The Brazilian currency, the real , weakened 0.21
percent to 1.915 per U.S. dollar.




Interest rates futures <0#DIJ:> on the BM&F futures
exchange in Sao Paulo were mostly higher as traders bet on
capital outflows.


Read more at Reuters.com Bonds News