Sao Paulo Brazil

A massive power failure threw Brazil's two largest cities into darkness Tuesday night along with other parts of Latin America's largest nation, affecting millions of people. Officials did not immediately comment on the cause of the blackouts, but Brazilian media reports said there were unspecified problems at the huge Itaipu hydroelectric dam that straddles Brazil's border with Paraguay. The problems at the dam caused a loss of 17,000 megawatts of power, resulting in outages in large parts of Rio de Janeiro, Sao Paulo and other cities in several states, according to the G1 Web site of Globo TV. The blackouts came three days after ... Read Full Story

SAO PAULO (Reuters - A major electricity outage left tens of millions of people in Brazil's two largest cities of Sao Paulo and Rio De Janeiro without power on Tuesday night. The national electricity grid operator said 17,000 megawatts of energy had been lost, equivalent to the entire consumption of Sao Paulo State. The electricity operator in the state of Minas Gerais said the outage was caused by a problem with the Itaipu dam which lies on the border between Brazil and Paraguay. The subway system in Sao Paulo, Brazil's financial capital, was shut down by the outage that occurred just after 10 p.m. ... Read Full Story

SAO PAULO (Reuters) - Two new stocks debuted on Wednesday with opposing performances, as Banco Santander's Brazilian unit started with a whimper, while insurance risk specialist Verisk Analytics Inc kicked off with a bang. Shares of Santander Brasil <SANB11.SA> fell as much as 2.9 percent on their first day of trading following a record initial public offering, while Verisk <VRSK.O> surged 29 percent after its IPO priced above the expected range. Executives of Santander Brasil sought to focus on the fact that it raised 14.1 billion reais ($8.05 billion) with its IPO in Sao Paulo and New York -- the largest ever in Brazil ... Read Full Story

An intense fire broke out Sunday in a slum in South America's largest city, sending residents running across rooftops to escape the flames. There were no immediate reports of deaths in Diogo Pires, a small shantytown in western Sao Paulo that is home to about 300 families. Two people sought medical treatment for smoke inhalation, according to fire officials. Television broadcasts showed flames leaping 20 meters (65 feet) into the air as some residents fled and others helped firefighters battle the blaze with hoses and buckets of water. "The flames were huge. People screamed and quickly ran out of the community," resident Ana Paula ... Read Full Story

Michael Shawcross, 26, was stopped by officers from the UK Border Agency at Heathrow Airport as he stepped off a flight from Sao Paulo, Brazil, in September. He had been backpacking in South America before heading back to the UK.Shawcross, of Lower House Lane, Norris Green, was interviewed by officers from HM Revenue and Customs as investigators carried out tests on his rucksack and sleeping bag.Isleworth crown court heard the drugs had been washed with a liquid which was then impregnated into the lining of the bags.The 4kgs of 100% proof cocaine would be worth nearly £900,000 on the streets, HMRC said.On September 5, ... Read Full Story