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Latin America Business News

Latin America News: Brazil’s Telefonica Profits Rise

Latin America News: Brazil’s Telefonica Profits Rise

In Latin America business news Brazil's Telefonica posted a profit of 2.1 percent from a year ago. Telefonica is the country's wireless communication leader. continue reading »

Dozens of Brazilian Ports Shut Down as a Result of Strike

Dozens of Brazilian Ports Shut Down as a Result of Strike

A strike to protest the Brazilian government's plan to privatize several ports shut down at least 36 terminals for six hours on Friday, union spokespersons said. continue reading »

Walmart Saw $17 Billion Profit in 2012

Walmart Saw $17 Billion Profit in 2012

Walmart Stores, Inc., the world's largest retailer, said Thursday it posted income from continuing operations of $17 billion in the fiscal year ended Jan. 31, up 7.8 percent from the comparable prior period, thanks to higher sales and lower financing costs. continue reading »

Brazil and Russia Sign Deals to Increase Bilateral Trade

Brazil and Russia Sign Deals to Increase Bilateral Trade

Brazil and Russia signed a series of agreements Wednesday aimed at increasing annual trade flows between two of the world's largest emerging economies from $5.9 billion to at least $10 billion in the coming years. continue reading »

Bolivia Says No Need to Fear Nationalization, Only Those Who Steal from Us Should Fear

Bolivia Says No Need to Fear Nationalization, Only Those Who Steal from Us Should Fear

Bolivia President Evo Morales wants to assure potential and current investors not to fear nationalization of their businesses in the country. This statement came after Spanish-firm managing the country's airports was taken over. continue reading »

Spanish Wine Makers Looking to Expand into Mexican Market

Spanish Wine Makers Looking to Expand into Mexican Market

A total of 47 Spanish wine producers participated in the 7th Wines of Spain Exhibition held on Tuesday in this capital, an event designed to allow local sector professionals to get to know brands continue reading »

REPORT: PEMEX Made $39 Million Interest-Free Loan to “Corrupt” Workers Union

REPORT: PEMEX Made $39 Million Interest-Free Loan to “Corrupt” Workers Union

An interest-free loan of 500 million pesos (about $39.3 million) was made to the STPRM oil workers union to help meet demand for workers' housing, state-owned oil giant Petroleos Mexicanos, or Pemex, said. continue reading »

ARGENTINA: Gov’t Claims Union Boss is Interfering with Food Distribution

ARGENTINA: Gov’t Claims Union Boss is Interfering with Food Distribution

The Argentine government on Monday accused truckers union leader Hugo Moyano of wanting to complicate the nationwide distribution of food. "With this act, Moyano is only (trying) to affect the normal distribution of food. continue reading »

U.S. Cinemark Mexican Movie Theaters to be Sold to Grupo Mexico

U.S. Cinemark Mexican Movie Theaters to be Sold to Grupo Mexico

U.S.-based Cinemark Holdings, which operates 5,207 screens at 461 movie theaters in the United States and across Latin America, said it planned to sell its Mexican unit to Cinemex. continue reading »

Environmentalists to EU: Stop Allowing Companies to Buy Carbon Credits

Environmentalists to EU: Stop Allowing Companies to Buy Carbon Credits

More than 75 environmental organizations on Monday urged the European Parliament to end the European Union's Emissions Trading Scheme, launched seven years ago as a market-oriented way of reducing pollution and greenhouse gases. continue reading »