time for today's latin america report. dilma rousseff officially began her second term as president of brazil yesterday, as the largest economy in latin america, whatever happens to brazil matters. willem marx followed the election battle, and joins us for more. let's start out with the challenges president rouseff faces in his second term. collect the big challenge for her will be the economy. there has been a great deal of inflation. it is difficult for ordinary people in brazil to keep up with price increases without seeing higher wages. she will have to win over the support of a lot of people outside of her normal pace. it was a quite narrow victory she juan the election by, 3%. on top of that, there's a huge corruption scandal brewing with the state energy company petrobras. >> has she given any indication about how she will cut pension payments from the government, at the same time that inflation is rising? >> one challenge will be getting anything past congress. a lot of people in her party are embroiled in the petr

guatemala is latin america's youngest country with a population under 20 years old.t could be a creative asset is the root of many problems. >> reporter: her parents from hired to give her the opportunity they never had. since a year old, her mother father and aunt teach her what they can on on old electric keyboard. their dreams continue to bloom. >> we hope that one day our daughter will represent our countries as the first skilled pianist. we hope they can break paradigms in the town. >> parents hope to find a scholarship to help her reach potential, in a part of the world known for poverty and violence a 5-year-old who is proof of anything is possible. >>> time for the sport with jo. >> thank you. the dakar rally has been overshadowed by the death of a motorcycle in the third stage. michal hernik's body was found near the 206km mark between san juan. the circumstance of the death are not known. he was found 300m from the course and that neither his body or bike was involved in an accident. >> his body was found after he failed to finish tuesday's stage. the categ

this massacre lost fidel many sympathizers in latin america.reat land owners who lost their land had found the land had not been given to the peasants. the land had been nationalized and the peasants were now serving the land owners and serving the state itself. something that was even more distant and abstract than the landowners. fidel had nationalized the great enterprises, which was fine, but through a work law, he had done away with rabbit property and small business, however humble it might be. the state has the right to intervene and nationalize a shop. if the employees were not satisfied with what they were being paid or the treatment they were receiving, the middle classes that had raised fidel to power were now deceived by him. in an interview fidel gave at that time, he told me socialism as far as he saw it was the best way for latin america but he wanted a more strict type then what existed so far. all the answers he gave last night were of marxist inspiration. he did not belong to the soviet block but he had become a self-taught ma

policy in latin america. >> when what you are doing doesn't work for 50 years it is time to try something now. congress should work at ending the embargo. >> why would you engage a rogue regime that has a history of abusing its people and anti-

policy in latin america. >> when what you are doing doesn't work for 50 years it is time to try something now. congress should work at ending the embargo.

they don't even break out in latin america, but it's growing at a much faster pace. >> absolutely. ok's business in north america and europe is just getting started. that user growth, the markets are saturated. facebook has to look elsewhere. if you look at how mark is spending his time right now, it is visiting countries like colombia and mexico and china. trying to open up new markets. >> what you think is the biggest impediment to opening up internet usage more broadly in colombia? >> in the main cities it is very penetrated. the problem with latin american countries is they tend to be very bifurcated. the well -- the very wealthy at the top and the large masses. the cities and large capitals already have it -- >> sounds like america. even more so. >> in brazil, there is a rich and poor. there is a very big gap. here there is actually a large middle class. a lot of these latin american countries don't have a middle-class, or they have a very small one. the biggest part is looking out to those really rural parts. i have seen trends like this happen in southeast asia. the gap close

they don't even breakout, for his apple, in latin america. but it's going at a much faster pace. >> the is this in north america and europe is really just starting. that the user growth, the markets are saturated. so facebook has to look elsewhere. if you look at the way mark is spending his time right now, he is visiting countries like china and mexico, china to open up new markets. >> what do you think is the impediment to growing in other countries like columbia? >> the biggest problem with all of the latin american countries is that they tend to be very bifurcated. there is the very large wealthy at the top and in the large masses. >> it sounds like america. but ok. but even more so. yet. >> in places like brazil, there's the rich and there is the poor. there is a very big app him here, there is a large no class. lot -- in latin america, they do not have a middle-class or a very small one. when you look at a country like columbia they are growing very quickly right now, too. you look at southeast asia, the gap is growing. >> i wonder also

latin american countries is our treatment of cuba. the president by starting to formalize relations with cuba, has helped america and latin america, which is our number one -- south america central america, number one trading partner. makes a lot of sense economically as well as humanely. i look forward to the time when all americans can visit cuba great culture. good wishes. they're our friends. thank you, representative lee, for having this session on this program, which shows president obama's leadership. and i yield back the balance. ms. lee: thank you. i want to thank the gentleman from tennessee for being with us this evening. and really laying out many of the benefits to your constituents, to america as it relates to the -- ending the embargo against cuba. but also just for being here and kind of sharing your stories. because i think it's very important that we hear the stories of americans who have had relationships with the cuban people who really don't and can't figure out why everyone can't have these normal relations with the people of cuba, as we do with people around the world. so thank you again very much. let me now yiel

sha, la, la, la, la, la, la, la ♪ >>> for most people, paraguay is an empty space on a map of latin america6 million, where a vast percentage of the land is steaming hot jungle or a huge scrub desert known simply as the chaco. only a few large cities offer a respite from the oppressive heat. ♪ [ singing in foreign language ] >> 1,000 miles upriver from the atlantic ocean sits paraguay's remote capital city. known largely for being a post-war refuge for fleeing nazis and a long line of extremely unpleasant dictators, this place,of all the places in the world,is where my great, great, great-grandfather disappeared without explanation sometime in the 1850s. i'm told you are a man who can help me. how do you do? >> you are for the first time in the country? >> first time in paraguay, yes. >> lido-bar, has always been like central switchboard, a gathering place. ladies in orange vests cook and serve old-school, working class food to people from all walks of life. >> this place is very unique. i've been here for more than 50 years. >> all right. let's get something to eat. i'm hungry. >> big enve

we only pay attention to latin america when something is out of control. if mexico needs our help, it is time to do it preemptively. we need to pay more attention strategically to latin america. >> instead of dance troupes and roulette, a self parking car and a toothbrush. the annual consumer electronics show is in town. our technology correspondent is at the gadget show and meets the inventors. >> a vision of the future that is nearer than you would think. it allows you to take your hands off the wheel and relax in heavy traffic. >> you have to be ready to act if something happens. >> it is more futuristic. i could get out and let be part do the work. i have stayed to admire the skills. >> we are seeing a bit of it. >> making a noise at the consumer electronics show. that is when amateur pilots are taking to the skies. >> we filmed this and, over the last year, they have governing throws around the u.s. and the world. the drones begin to fill our skies and there is concern about our safety. >> everything is pushing boundaries. it just can't wait. >> it is

it is time for today's latin america report.mpics will be no savior for brazil's faltering economy if last year's world cup is any guide. many of the 3.5 billion tv viewers follow the tournament. the tourists that followed that has remained flat from a year earlier july 13. central bank data shows that it fell 7.4% compared with a year ago. that is your latin america report for this friday. we wanted you to know bloomberg is the only business news service being offered on amazon fire tv. remember, if you watch any of our -- if you miss any of our interviews, you can watch them on bloomberg tv with live streaming and on-demand videos. up next, encore. your guide to the biggest newsmakers of this week on "bottom line." ♪ ♪ >> welcome back. it is time for encore, a look back at the most notable newsmakers from this past week on "bottom line." >> a free trade deal is something that a lot of liberals do not like, but i think there is bipartisan consensus on that. i think there is consensus on infrastructure. maybe we will get a band-

latin america and caribbean are blast with resources and one of the areas with greatest potential for economic growth. >> we want to build up a concrete frame work of cooperation with latin american and caribbean nations. we want to develop china's relations with the region to a higher level. >> xi # visited the region two years running after taking office in 2013. >>> u.s. lead pers are getting ready to talk to counter parts in the nation of cuba. they're hoping to normalize diplomatic relations. chinese government is denying involvement with construction of a shipping canal through nick rag ga. u.s. lipdiplomats are concerned about the lack of communication. the project cost $50 billion. the firm will control the canal up to a century. routers reports the u.s. is pushing for the project and environmental impact. chinese government denied suggestions as they are involved and says they're obeying the law. >> the chinese government requires companies to comply with legislation. countries where they operate including any law for texting the environment. we also expect them to a a bide b

but not up into the very large numbers that we're going to be seeing in latin america where they're going to be tens of millions of people exposed to this virus. >> david hamer environmentally ecologically, south florida is very much like puerto rico cuba, the other islands of the caribbean. there are winds that carry eggs and see seeds and plants, the boats, the airplanes, the human commerce that covers that tight sea is something that could easily spread a disease like this, isn't it? >> it is, yes, but as scott has said, dengue has landed in parts of key west and other areas, and in most of those outbreaks have been snuffed out fairly quickly, and there has been relatively little local transmission. i want to add a point about the vaccine, and that is, yes, it would be useful for select populations in high risk areas in the united states, but we have to think about travelers. we have a large population of the united states that travels to the caribbean and south south america and other parts of the world where this disease is being transmitted. if we had an effective vaccine we would b

and cuba have been the main focus of a meeting of latin america leaders in costa rica. raul castro warned that normalizing relations completely is impossible while the embargo is still in place. what else came out about these relations there, lucia? >> reporter: jane even though the main topic of this summit which has gathered the 33 heads of state and government of all of the latin america and caribbean nation the subject is supposed to be reducing completely -- actually eliminating hunger and extreme poverty in the next five years. cuba has been the topic over and over again, with every country willing to sign a statement which will be telling the obama administration that it is unacceptable for the more than 50-year-old embar go to remain. of course that is in support for what president raul castro said on wednesday. he was very very tough. he said that president obama still has it within his power to use his executive powers to further ease the embargo even without the approval of the republican-controlled u.s. congress. he also said that he suspects that the u.s. g

, latin america, is that we didn't have a policy for much of the past decade that we were absent and there was a growing sense or concern that the united states was conceding the americas to chinese or indian influence. with the overture towards cuba and a focus on integrating the americas and economic policy the administration is saying "we are back latin america is our neighbour, it's in our back quart and we need to be engaged. i think it is part of a policy of integration and openness posing a welcome counterbalance to chinese influence in the region. >> i want to shift to the middle east. what needs to transpire in the new year to see a solid agreement with iran. >> thank you. i'm speaking personally for the purposes of the show rather than in connection with my position with the congressional research service. the parties on the nuclear deal are not far party. the parties themselves are holding it up. they have serious reservations about trusting the united states enough that it will lift sanctions and implement the deal. he seems unable

and in the coming year, i hope to pay a visit to latin america. and i will steadily enlarge our commitment to the alliance for progress as the instrument of our war against poverty and injustice in this hemisphere. in the atlantic community, we continue to pursue our goal of 20 years. a europe that's growing in strength unity and cooperation with america. a great unfinished task is the reunification of germany through self-determination. this european policy is not based on any abstract design. it is based on the realities of common interests and common values, common dangers and common expectations. these realities will continue to have their way. and in our especially, i think in our expanding trade. and especially in our common defense. three americans have shaped the policies of the united states. and because we know these realities those policies have been and will be in the interest of europe. must shape the course of europe and for the same reasons that course has been and will be in our interest and in the interest of freedom. and i hope t

it is time for today's latin america report. state run oil companies rallied after deciding vince reduced feel prices paid the finance minister told reporters that increase taxes on fuel would raise revenue by more than $7.6 million. alan gross and his wife judy arman 22 guests to the white house tonight, invited for the state of the union address. mr. gross was an american government contractor working in cuba when he was arrested in 2009. he was later sentenced to 15 years in a cuban prison for trying to deliver satellite telephone equipment. he returned home last month as part of a deal between president obama and rowel castro. -- role castro. stay with bloomberg. we will have live updates from havana. that is your latin america report for this tuesday. the big news thursday was the central bank letting its currency off the leash in switzerland. the frank dropped 17%. the money will not go nearly as far as before. that is bad news if you're off to the world economic forum. tom getzen reports. -- tom getzen reports. >> spendin

policy in latin america. >> when what you are doing doesn't work for 50 years it is time to try something now. congress should work at ending the embargo. >> why would you engage a rogue regime that has a history of abusing its people and anti- democratic to it the core and reward them with everything you want and get nothing in return? >> obama's overtours mark the biggest change in u.s./cuban relations since the embargo begin. cuba occupied a unique place. an island neighbor that long ago became the enemy at our doorstep. before fidel castro took over. the cuban nation was a tropical paradise for those who could afford it. in the 1950s cuba itself was one of the richest nations in latin america and there was high unemployment and u.s. companies dominated the economy. and the leader ran a corrupt and repressive regime. the castro led revolution forced ba tistan in exile and at first america did not know what to make of the bearded man in fatigues. eisenhower recognized the new government and some saw castro as a hero. her better matthews lionized the young dr. fidel castro is the greates

it is time now for today's latin america report.tor will take a one-time pretax charge of $800 million because of the inability to exchange u.s. dollars for venezuelan bolivar's has restrict it operations the company's $500 million cash balance will no longer be included in the companies automate of gross cash. it will count cash and income from venezuelan operations only when the parent company has paid for parts sold to the unit. that is your latin america report for this friday. the collectible car market got to an impressive start this year. $300 million in classic cars were sold at auction's in scottsdale arizona. in 18% increase over 2014 sales. matt miller is back from palo alto, california. with the president and ceo of a global leader for collector car and boat insurance. >> thank you so much for stopping by. i'm sure you were busy in scottsdale last week. you are starting a new index or market indicator to judge where their investments stand. >> we have been trying for years to build enough data sets that you could put tog

it is time for today's latin america report.la's credit rating lowered b 29 levels below investment grade. cutting to see aa three -- lowered by nine levels below investment grade. cutting to caa3. bondholders or later -- more and more u.s. colleges are offering early admissions programs. that may be good news for those families who like to plan ahead. such programs favor the rich. janet laurent joins means to deal with more. how do these early admissions programs work? >> if students had their testing done and got the recommendations done and have written their essays by november 1 and know which colleges they want to attend, they send in their applications and get a letter back in mid-december. some of those programs are binding, so you commit to going if you get in. some are not binding. >> why are colleges doing this? >> colleges want to know who want to come there. some marketing 30,000 applications and kids are applying to as many as 10-15 schools. it sends a school to them that this is my number one. >> it strikes me that

. ♪ >> >> it is time for today's latin america report.s economic activity in november expected lee expanded -- unexpectedly expanded. while brazil edged out a procession, the country is excited to post growth of .2% the slowest since 2009. the united states is in committing changes tomorrow to loosen the five decade old embargo with cuba. it would include easing travel restrictions and allowing americans to bring home as much as $100 in cigars. the new rules will make it easier for people to travel to cuba. those who do get to cuba will be able to use credit cards and debit cards. that is your latin america report for this thursday. nothing says paris like the eiffel tower. huge structures include more towards him. could a new wave of skyline defining icons across the u.s. have the same effect? developers from coast to coast are betting the answer is yes. in miami, they plan to erect a 1000 foot tower that would feature three observation decks and a bungee jumping like experience. in new york, staten island is said to build the biggest er

that is your latin america were boards.up -- we will talk about how investors are reacting to the ecb stimulus move. you are watching "bottom line." ♪ >> the markets are getting a boost from ecb president mario draghi's decision to extend stimulus. stocks are up for a third day. european stocks are rallying. for more on the ecb's larger than expected stimulus program, "street smart" anchor trish regan joins me. the markets have this priced in, didn't they? >> i think so. you know, it was bigger than what we anticipated. i was a little surprised. i think there have been so many promises of the course of the last couple years from the ecb that they just have not delivered on, so this is the first time you're like, ok he says he is willing to do what it takes. now there seems to be evidence a are willing to go that route. but it's going to be hard. >> did they have a choice? >> no, they definitely did not have a choice. you and i talked about this at link. it should have been somewhat obvious. on one hand the idea of a europea

that is the latin america report aired middle class economics.esident obama plans to do in his last two years in office to help the little class. ♪ -- help the middle class. ♪ >> in his first speech before congress were both chambers are controlled by republicans, president obama zeroed in on bridging the income gap. the president outlined the rationale for an agenda that reflects a shift in the final two years of his presidency. trish regan joins me now with more. so much for lame-duck. >> the good, the bad and the ugly. the good news here because i like to emphasize the positive is that he made an overture towards bipartisanship. it takes a whole lot more than a speech. he did say we have to work together and he put together a good rallying cry for that. you have to take it forward and you have to extend yourself. he needs to extend himself because he has a republican-controlled congress. the bad was that i did not hear enough specifics. we tend to want details. we did not get a lot of details. got big broad proposals but not a whole lot detail

. >> guest: i think the monroe doctrine has served not only as, but latin america will. i say this as someone who -- >> host: for those who forget remind us estimate it was actually written by john quincy take that john quincy adams. it essentially is the doctrine for the united states will not allow european power or foreign powers to intervene and meddle in the affairs of the western hemisphere. look, right now the chinese are becoming patrons of the regime in venezuela, of an increasingly liberal friends i should say liberal regime in ecuador. the iranians we now know have extensive ties throughout latin america in places like venezuela. russia is once again threatening at least to boost its traditional or pre-cold war era security ties with cuba. i'm not exactly sure how american interest are well served by a secretary of state reviving a foreign policy doctrine that most people probably don't spend all the time thinking about simply in order to announce that it is dead. we do not want russia china rand intervening in latin america, and i don't think quite frankly ve

the iranians we now know have extensive ties throughout latin america in places like venezuela venezuela. russia is once again threatening at least to boost its traditional or pre-cold war security ties with cuba. i'm not exactly sure how american interests are well served by a secretary of state reviving a foreign-policy doctrine that most people probably don't spend all their time thinking about simply in order to announce that it's dead. we do not want russia to china or iran intervening in latin america and i don't think quite frankly venezuelans, cubans are ecuadorians do either. >> host: back to the book. part of your criticism of president obama which there is much in the book. he's not the only one you criticize. you refer to him compared to the legendary viking king. >> guest: the viking king or maybe english depending on your sense of history who stood on the shore line and command that they tides recede to prove his godlike powers. when the president says the tide of war is receiving he can only observe that tide receding. he cannot command it to recede. we cannot simply say y

that is your latin america report for this wednesday.up medtronic which was founded in a minneapolis garage once to turn irish. a miami fast food chain, burger king, wanted to be canadian. we will look at these tax fixes by u.s. companies, next. ♪ >> pfizer has been a u.s. company since its founder opened a redbrick laboratory and 1849, but this year, it wanted to become a british firm. the reason? to get a tax break. this practice referred to as tax and version, could cost the u.s. treasury more than $33 billion in lost revenue over the next decade. trish regan joins me now with more. republicans say the answers cut the corporate tax rate. >> i think it's pretty simple. i don't know why you don't want to incentivize people to start businesses here and keep them here. right now, you are incentivized to do an inversion deal. if you can get 12% in ireland logically as a business you will be looking to incorporate in ireland. >> what about the pushback they are seeing from the white house? you get the benefits of eating in the u.s. but then

it is the most welcoming country in latin america that i've been. >> salud, salud, salud. ♪ nineteenrom the bad?" so we gave people the power of the review. and now angie's list is revolutionizing local service again. you can easily buy and schedule services from top-rated providers. conveniently stay up to date on progress. and effortlessly turn your photos into finished projects with our angie's list app. visit angieslist.com today. ♪ cozy or cool? exactly the way you want it ... until boom, it's bedtime! your mattress is a battleground of thwarted desire. enter the sleep number bed. save $300 on the final close-out of the c3 queen mattress set. he's the softy. his sleep number setting is 35. you're the rock, at 60. and snoring? sleep number's even got an adjustment for that. only at a sleep number store, find the lowest prices of the season, with the c3 queen mattress set only $1199.98. plus 24 month special financing on all beds. know better sleep with sleep number. ♪ >>> i leave the subtropics for more extreme climates. riohacha is a city 600 miles northeast of cali on the la ca

it is time for today's latin america report. in president cristina fernandez is facing a new problem. the death of a government prosecutor who was investigating her. is the death of the prosecutor affecting public support for the president? >> it remains to be seen how the holes are going to be looking. her poll numbers are already very weak. the result poll taken just after the incident that it would affect her image and a whopping 80% said it was going to affect her image. within that, there was also the result of people who were voting for her party in the upcoming presidential elections in october and almost half of the people who were planning on voting for her party are doubting their decision or changing their minds. >> what is the back story here? what was the prosecutor investigating? >> the government's involvement in basically -- he alleged the government was trying to court iranian officials. basically the prosecutor accused the government of an exchange getting these officials. >> what has the government's response

it is time for today's latin america report.enement in -- the dominican republic paid back almost all of the debt owed to venezuela for oil payments. it was made after a bond they'll last week. they immediately reduced the public debt by 3.8 of prose to mistake product. the deal took a year of negotiations before it was an plate on tuesday -- complete on tuesday. up next, encore -- your guide to the biggest newsmakers this week when "bottom line" continues. ♪ >> it's 45 minutes past the hour. let's check bloomberg world news. dramatic video of an explosion at a maternity hospital on the western edge of mexico city. the explosion caused most of the hospital to collapse and sent flames and smoke into the sky. mexican officials said that the blast killed three people. three people in serious condition him on more than 70 who were hurts. a sign that lessening the impact of the recession has taken precedence over stabilizing the ruble, which has fallen to record lows. plunging oil prices have hit the russian economy particularly hard

dead or alive fault lines is here to investigate one of the worst crises of disappearances in latin america and to meet the families searching for answers - and a justice that never seems to arrive. a sign with details of sara cruz's son - jose rodolfo - hangs in front of her house - in case anyone can help her find him. the last time she saw him, it was a tuesday evening. she had just gotten home from work and he asked her if she would take him to a local motorcycle show. jose spent afternoons working in his uncle's mechanical shop in the front of the house they rode to the show on jose rodolfo's bike it was here in this small plaza - just a short ride from their house in the town of tierra blanca. when sara went to the police they told her she needed to wait 3 days to file a report. so she started searching herself- something as simple as looking on facebook for that, not authorities all her money now goes to searching for jose - traveling to different places around veracruz - to meet prosecutors searching for possible leads - or worse to see if bodies discovered in mass graves...might be