MEXICO CITY (Reuters) -Mexican President Andres Manuel Lopez Obrador said Wednesday his government aims to reach an agreement with mining and transport company Grupo Mexico after taking over a part of its railway last week, but said the compensation deal will not include cash. “Not money. What we are looking at is compensation. That is…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Wednesday he does not rule out the possibility of the government stepping in to buy a part of U.S. bank Citigroup’s local retail unit, adding the government would have up to $3 million at its disposal. Citigroup announced earlier on Wednesday it will…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador’s administration is studying the possibility of buying a majority of shares in Citigroup’s local retail unit known as Banamex, according to a government statement published on Tuesday. Buying it would be “good business,” Lopez Obrador said in a press conference earlier, when asked about rumors…
MEXICO CITY (Reuters) – Mexico’s headline inflation likely slowed in the first half of May to its lowest level in 19 months, a Reuters poll on Tuesday showed, backing views of a sustained decline in consumer prices and that the central bank will keep its benchmark rate on hold. The median forecast of 13 analysts…
By Gabriel Burin and Noe Torres BUENOS AIRES/MEXICO CITY (Reuters) – Brazilian stocks are expected to keep drifting higher this year on mixed company earnings, as food exporters feel the pinch from slower global growth, while banks take advantage of sky-high interest rates, a Reuters poll showed. The Bovespa equity index has been climbing back…
By Daina Beth Solomon and David Lawder WASHINGTON/MEXICO CITY (Reuters) – U.S. labor officials on Monday said they have asked Mexico to investigate alleged worker rights abuses at a Goodyear Tire & Rubber Co plant in Mexico in the latest “rapid response” probe under North American trade rules. The complaint from the U.S. Trade Representative’s…
(Reuters) – JPMorgan increased its corporate default rate forecast for all emerging markets to 6% from 5.5% on Monday, citing in particular growing risk among Latin American companies as access to credit markets gets tougher. The bank’s forecasted default rate for Latin American corporates, meanwhile, came in even higher at 6.6%, up from 5%, which…
MEXICO CITY (Reuters) – The Dominican Republic’s economy is expected to grow around 4% in 2023, the IMF said on Monday, slowing from the 4.9% rise in 2022. The economy is “one of the most dynamic and resilient in the Western Hemisphere over the last two decades,” the IMF said in a statement, crediting the…
MEXICO CITY (Reuters) – Mexico will present a program this week to give Central Americans temporary visas to work on public infrastructure projects, President Andres Manuel Lopez Obrador said Monday. Such projects require more people such as welders, iron-workers and engineers, Lopez Obrador told his regular daily news conference. “We need a workforce for these…
MEXICO CITY (Reuters) – Grupo Mexico said on Sunday its negotiations with the government are facing difficulties after the Mexican Navy took over part of a railway in southern Mexico operated by a unit of the company last week. Grupo Mexico Transportes said negotiations with authorities about the railway concession spanning from Coatzacoalcos to Medias…
