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 David Shepardson WASHINGTON (Reuters) -The U.S. Transportation Department (USDOT) said on Monday it fined LATAM Airlines Group SA $1 million after the airline and affiliates routinely failed to provide timely refunds to passengers for U.S. flights. The department said since March 2020, it received more than 750 complaints alleging LATAM, the biggest carrier in…
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…
BRASILIA (Reuters) – Brazil’s finance ministry forecast a primary budget deficit of 136.2 billion reais ($27.22 billion) this year, compared to 107.6 billion reais projected in March, according to its bi-monthly revenue and expenditure report released on Monday. According to the report, this year’s budget is 1.7 billion reais over the spending ceiling, indicating the…
By Eliana Raszewski BUENOS AIRES (Reuters) – Argentina’s new 2,000-peso bill, the largest denomination note, went into circulation on Monday, though due to fast depreciation of the currency it is worth only $8.50 at the official exchange rate and just over $4 in commonly used parallel markets. The peso has shed around a quarter of…
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…
SAO PAULO (Reuters) – An investment firm backed by Brazil’s Moreira Salles family has decided to launch a tender offer to buy an additional stake in Alpargatas SA, the shoemaker said on Monday, driving its shares higher. According to Alpargatas, which owns the Havaianas flip-flop brand, MS Alpa Participacoes said it would seek to buy…
By Luana Maria Benedito and Gabriel Araujo SAO PAULO (Reuters) -Private economists in Brazil lowered their expectation for the country’s inflation index this year, but the move failed to impress central bank Governor Roberto Campos Neto as he continues to see them running well above official targets. “Inflation expectations are still very high,” Campos Neto…
