Brazil state bank halts $232 mln Volkswagen loan


BRASILIA, Brazil, Aug 29 (Reuters) - Brazil's state development bank said late on Monday it will halt a loan worth 497 million reais ($232.1 million) to automaker Volkswagen AG until the company concludes negotiations with local unions over layoffs, wages and a possible plant closure. The decision followed a threat by Germany's Volkswagen to shut down its oldest plant in Brazil, in Sao Bernardo do Campo, where President Luiz Inacio Lula da Silva started his career as a metalworkers union ...

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