By Valentine Hilaire MEXICO CITY (Reuters) – Mexican shipping startup Nuvocargo announced on Tuesday it had raised $36.5 million in a new round led by QED Investors, as nearshoring offer new trade opportunities between Mexico and the U.S. The round, which also included participation from NFX and Tiger Global, will allow Nuvocargo to cover the…
By Daniel Trotta (Reuters) – U.S. officials in Texas have arrested four Mexicans who were indicted on suspicion of operating a human smuggling ring responsible for the deaths a year ago of 53 migrants packed into a truck during sweltering heat, the Justice Department said on Tuesday. Dozens of migrants from Mexico, Guatemala and Honduras…
By Gabriel Araujo SAO PAULO (Reuters) -Investors were left disappointed by weaker-than-expected order numbers for Brazil’s Embraer at the world’s largest airshow last week, though some analysts were heartened by a bid from China and interest in Embraer’s electric aircraft unit. The world’s third-largest aircraft maker after Airbus and Boeing, Embraer bagged 13 fresh orders…
By Alexandra Ulmer and Marianna Parraga (Reuters) – A Russian oil firm is asking Venezuela’s state-run company PDVSA for permission to take control of exports from their joint ventures to revive cash flow from the five companies, which have been hard-hit by U.S. sanctions, two people involved in the talks said. Roszarubezhneft – a state-owned…
SAO PAULO (Reuters) – The chief executives of Brazil’s largest private lenders, Itau and Bradesco, defended on Tuesday the government’s planned tax reform, emphasizing that the country is facing a “unique opportunity” for the economy. Brazil unveiled last week the details of its proposed tax reform to overhaul its notoriously complex consumption taxes, seen as…
(Reuters) – Swedish carmaker Volvo Cars said on Tuesday it had signed an agreement with Tesla to give its electric vehicles (EVs) access to the EV maker’s Supercharger network in the United States, Canada and Mexico. The deal makes Volvo the first European automaker to adopt Tesla’s North American Charging Standard (NACS), adding to the…
By Gabriel Araujo SAO PAULO (Reuters) -Annual inflation in Brazil slowed further in early June, hitting its lowest in nearly three years as the central bank signaled it may start cutting interest rates at its next meeting if consumer prices stay tame. In Latin America’s largest economy, 12-month inflation reached 3.4% in mid-June, data from…
By Cassandra Garrison MEXICO CITY (Reuters) – Escalating tensions with farmers may prove a stumbling block for Mexico’s ruling party in next year’s elections, experts said, as resentment builds over low grains prices, a trade conflict with the U.S., and a perceived lack of government support. Elections in June 2024 will not only usher in…
By Marcela Ayres BRASILIA (Reuters) -Brazil’s central bank signaled on Tuesday that a majority of its policymakers see a possibility of a “parsimonious” rate cut at its next meeting in August, provided that a more benign inflation scenario consolidates. The minutes of the June 20-21 meeting, where the rate-setting committee known as Copom kept the…
By Raul Cortes and Daniel Ramos LA PAZ (Reuters) – Bolivia’s “economic miracle,” a boom in the 2000s and 2010s that saw years of state spending lift millions of people into the middle class, is creaking, a warning sign to the wider region battling high inflation, shrinking government coffers and tepid growth. For years the…
