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Tag Results for "Latin America Business News"

2013 2nd Quarter: Mexico Economy Grows 2.5%

Mexico's gross domestic product grew at an annual rate of 2.5 percent in the second quarter of this year, the government said. "The Mexican economy continued in an expansion trend, albeit with less than expected dynamism," continue reading »

Mexican Regulators Reject Sherwin-Williams’s Bid to Buy Comex

U.S.-based Sherwin-Williams's acquisition of Mexican paint company Consorcio Comex, S.A. de C.V. will not be allowed because it "would impose market conditions that no competitor could counter," the Federal Competition Commission, or CFC, said Thursday. continue reading »

3M Investing $400 Million in Research Centers in Mexico

U.S. industrial giant 3M Co. plans to invest $400 million over the next three years in three research centers in Mexico, Mexican President Enrique Peña Nieto said. continue reading »

Alsea Acquires Full Ownership of Starbucks in Chile, Argentina

Mexican restaurant operator Alsea said Wednesday it was acquiring full ownership of the Starbucks Coffee businesses in Chile and Argentina for an undisclosed sum. continue reading »

Italian Tiremaker Pirelli to Invest $200M in Mexico Plant

The Mexican unit of Italian tiremaker Pirelli plans to invest $200 million at its plant in the central state of Guanajuato as part of its growth strategy, the Economy Secretariat said. continue reading »

Mexico’s Carlos Slim Spends $40 Million to Bring Shazam to Latin America

Mexican billionaire Carlos Slim's America Movil said in a securities filing that it acquired a 10.8 percent stake in Shazam Entertainment Limited. continue reading »

Spain and China Look for Ways to Expand Economic, Financial Relationship

Spanish parliament speaker Jesus Posada and Chinese President Xi Jinping looked here Friday at ways to bolster bilateral relations. continue reading »

Costanera Center, Chile’s Tallest Building, Catches Fire

The Costanera Center real estate megaproject, South America's tallest skyscraper, experienced a fire on Thursday that forced authorities to evacuate more than 1,000 people. continue reading »

Mexico Puts Restrictions on U.S. Pig Imports Due to Porcine Virus

Imports of live hogs from the United States have been restricted and inspectors are working to detect any cases of porcine epidemic diarrhea, or PED, in Mexico, the Agriculture Secretariat said. continue reading »

Pemex Produced 2.54 million Barrels Per Day in Early 2013

Mexican state-owned oil company Petroleos Mexicanos said it produced an average of nearly 2.54 million barrels per day in the first four months of 2013, nearly half of which was destined for export. continue reading »

US Airline SkyWest Buys 40 Jets from Brazil’s Embraer

Brazilian aircraft manufacturer Embraer said Tuesday it reached a deal to sell 40 E175 passenger jets to U.S. airline SkyWest for nearly $1.7 billion. continue reading »

Nestle Invests $130 Million in Factory Expansion in Mexico

Mexican President Enrique Peña Nieto inaugurated a 1.6-billion-peso ($130-million) expansion of a Nestle instant coffee factory in the central city of Toluca. The project has boosted the plant's productive capacity by 30 percent, making it the world's biggest facility of its kind, Nestle Mexico CEO Marcelo Melchior said during Friday's ceremony. continue reading »

Spanish Inflation Rate Falls to 1.4%, Lowest Since March 2010

A drop in electricity rates and fuel prices pushed Spain's year-on-year inflation rate down by one percentage point to 1.4 percent in April, the lowest level since March 2010, the National Statistics Institute, or INE, said Tuesday. continue reading »

Investment in Peru’s Mining Sector Jumps 23 Percent

Mining investment in Peru soared 23 percent in the first quarter to $1.92 billion, creating 211,748 direct jobs, the Energy and Mines Ministry said. continue reading »

Mexico Gets Credit Upgrade by Fitch

This week the credit rating firm, Fitch upgraded Mexico’s credit rating from BBB to BBB+. The one notch increase in the country’s sovereign credit rating was given in great part for Mexico’s new President Enrqiue Peña Nieto’s bank reform efforts. continue reading »

Audi Breaks Ground on Plant Bringing 3,800 Jobs to Mexico

Audi executives and Economy Secretary Ildefonso Guajardo laid the cornerstone for the German automaker's new plant in Mexico, the Economy Secretariat said in a statement. continue reading »

Honda Announces Plans to Build Plant in Mexico

The Mexican unit of Japanese auto giant the Honda Motor Co. annonced plans to invest $470 million in the construction of a transmission plant in Celaya, in the central state of Guanajuato. continue reading »

Brazilian Oil Giant Petrobras Sells Stake in Gulf of Mexico Exploratory Blocks

Brazilian state-controlled oil giant Petrobras said it has sold its 20 percent stake in six exploratory blocks in the U.S. Gulf of Mexico. In a regulatory filing, Petrobras said it signed a sale and purchase agreement for the divestment continue reading »

Federal Court OK’s Offer for Merger Between Grupo Modelo and Anehuser-Busch

A U.S. federal judge has approved a settlement proposed by the Department of Justice in the merger between Mexico's Grupo Modelo and Belgium's Anheuser-Busch InBev, the companies said. continue reading »

Nestle Selling Infant Nutrition Business in Mexico

Swiss food giant Nestle will sell the infant nutrition business it acquired as part of the purchase of U.S.-based pharmaceutical giant Pfizer's global infant nutrition unit, the Federal Competition Commission, or CFC, said Monday. continue reading »