South America News
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Seven Seas Water Corp., a Tampa, Florida-based water company that operates in the Caribbean and Latin America, named Claudio Baldovino as president of its South American operations and to the executive committee.
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Medtronic Inc.’s CoreValve, a device threaded into the heart via a catheter and expanded to repair a damaged aortic valve, dramatically improved symptoms without causing excessive cardiovascular complications after one year.
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Energy Development Corp., a Philippines geothermal-energy developer, has formed a venture with Alterra Power Corp. to develop four South America projects.
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China’s soybean imports, the world’s largest, may jump 17 percent in the next season as the country rebuilds stockpiles, Oil World said.
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Water service will be restored today after a three-day outage in parts of Caracas, capital of South America’s biggest oil producer, the Venezuela state news agency AVN said.
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Encarnacion Rivas, an 89-year-old Venezuelan retiree, had to traipse around a half-dozen stores in Caracas on her search for toilet paper as dollar shortages in South America’s biggest oil producer reduce supplies of imported goods.
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Toshiba Corp., the Japanese maker of flash-memory chips, elevators and steam turbines, has begun production of power transformers at a new plant in Brazil.
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Slaughter & May and Latham & Watkins LLP advised Thomas Cook Group Plc, the 172-year-old tour operator that required an emergency loan 18 months ago, on plans to raise 1.6 billion pounds ($2.4 billion) to restructure its borrowings as it cuts jobs and closes stores to pare costs.
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Cemex Latam Holdings SA, a cement maker in Central and South America, rose the most on record after MSCI Inc. included the company in a gauge tracked by investment funds.
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Olam International Ltd., a trader of commodities, said sales volume in the confectionery and beverage division fell 6 percent in the nine months ended March 31 after an epidemic of coffee leaf rust in Central and South America.
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