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☆ Argentine oil company YPF swings to loss amid dampened fuel prices
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

[1/2] The headquarters of Argentina's state energy company YPF is seen in Buenos Aires, Argentina February 10, 2021. REUTERS/Matias Baglietto Acquire Licensing RightsCompanies Ypf Sa FollowNov 8 (Reuters) - Argentine national oil company YPF swung to a loss in the third quarter, hurt by lower local fuel prices and higher operating costs, the company said on Wednesday,The result was significantly behind analyst expectations. The state-run producer's revenue fell about 16% to $4.5 billion during the July-to-September period, due in part to a drop in local fuel prices in dollars, YPF said in a statement. In August, Argentina froze fuel prices in a bid to tame surging triple-digit inflation. YPF said total oil and gas production increased 3% in the third quarter, with crude output up 5.4%.

Persons: Matias Baglietto, YPF, Isabel Woodford, Aida Pelaez, Fernandez, Valentine Hilaire, Leslie Adler Organizations: REUTERS, Thomson Locations: Buenos Aires, Argentina, Argentine, Vaca, U.S

☆ Argentina's YPF swings to net loss amid dampened local oil prices
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] The headquarters of Argentina's state energy company YPF is seen in Buenos Aires, Argentina February 10, 2021. REUTERS/Matias Baglietto Acquire Licensing RightsCompanies Ypf Sa FollowNov 8 (Reuters) - Argentina's national oil company YPF swung to a loss in the third-quarter, amid lower local oil prices and higher operating costs, the company said in a statement on Wednesday. Net loss in the period hit $137 million, from a $693 million profit the previous year. The state-run producer's revenue decreased 15.9% to $4.5 billion during the July-to-September period, it said, citing "a drop in local fuel prices in dollars." The results come despite the steady uptick in oil and gas production in recent years from western Argentina's massive Vaca Muerta shale formation, one of the biggest in the world.

Persons: Matias Baglietto, YPF, Isabel Woodford, Valentine Hilaire Organizations: REUTERS, Thomson Locations: Buenos Aires, Argentina

Some warehousing operations as well as distribution, logistics and refrigeration businesses no longer fit into Femsa's strategy and may be sold, Fonseca said. Femsa's shares have surged more than 40% this year after shedding 4.8% in 2022. Femsa, which last year acquired Swiss kiosk operator Valora for $1.15 billion, plans to concentrate on its retail, bottling and financial technology (fintech) operations. Femsa is capitalizing on the ubiquity of its Oxxo stores by promoting fintech services in them, such as digital accounts and debit cards, Fonseca said. Femsa's scale has allowed it to automate some processes, and it is looking for ways to cut energy costs, he said.

Persons: Daniel Becerril, Juan Fonseca, Fonseca, Femsa, Valentine Hilaire, Christian Plumb, Rod Nickel Organizations: Coca, Coke, REUTERS, MEXICO CITY, Heineken, Reuters, Televisa, Alfa, Thomson Locations: Coca Cola, Monterrey, Mexico, MEXICO, U.S, Jetro, Swiss

☆ Honduras Recalls Ambassador to Israel for Consultations
▼ + stars: | 2023-11-03 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

TEGUCIGALPA (Reuters) - Honduras' government is recalling its ambassador to Israel for consultations due to the humanitarian situation affecting Palestinians in the Gaza Strip, the country's top diplomat announced on social media on Friday. "Amid the grave humanitarian situation the Palestinian civilian population suffers in the Gaza Strip, the government of President Xiomara Castro has decided to immediately call Mr. Roberto Martinez, Ambassador of the Republic of Honduras in Israel, to consultations in Tegucigalpa," Foreign Minister Enrique Reina said on X, formerly known as Twitter. The decision from leftist President Castro's government follows similar moves from likeminded peers in the region earlier in the week. Chile's Gabriel Boric and Colombia's Gustavo Petro also recalled their countries' ambassadors to Israel for consultations over events surrounding the conflict in Gaza, while Bolivia moved to sever diplomatic ties to Israel. (Reporting by Valentine Hilaire and Gustavo Palencia; Editing by Kylie Madry)

Persons: Xiomara Castro, Roberto Martinez, Enrique Reina, Castro's, Chile's Gabriel Boric, Colombia's Gustavo Petro, Valentine Hilaire, Gustavo Palencia, Kylie Madry Organizations: Twitter Locations: TEGUCIGALPA, Honduras, Israel, Gaza, Republic of Honduras, Tegucigalpa, Bolivia

View of the Cobre Panama mine, of Canada's First Quantum Minerals, in Donoso, Panama, December 6, 2022. That leaves the fate of the contract for now in the hands of the country's top court. Panama's moves raise questions about copper supplies, as Cobre Panama accounts for about 1% of global output. First Quantum inherited the contract after it replaced Petaquilla Gold as operator of the mine in 2013. Panama's top court will hear various challenges against the contract in the coming days.

Persons: Valentine Hilaire, Divya, Denny Thomas, Rod Nickel Organizations: Minerals, REUTERS, Aris, First, Thomson Locations: Panama, Donoso, Canada

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. First Quantum on Tuesday reaffirmed its commitment to the rule of law with the objective of benefiting Panama. First Quantum and its local unit Minera Panama declined to comment further. A decision to cancel the Cobre Panama mine's contract could slow Panama's GDP growth from an anticipated 6% in 2023 to just 1% without the mine in operation on an annualized basis. The odds of Panama losing its investment-grade rating would rise significantly if the contract is revoked, J.P Morgan warned on Tuesday.

Persons: Laurentino, J.P Morgan, Adriana Linares, Jackie Przybylowski, Michael Camacho, Frank De Lima, Juan Diego Vasquez, Edison Broce, Divya Rajagopal, Valentine Hilaire, Elida Moreno, Steve Scherer, Denny Thomas, Rod Nickel Organizations: Minerals, REUTERS, Aris, Quantum Minerals, Panama, Canada's Global Affairs, Reuters, Bank of Montreal, Finance, Economy, Independent, Thomson Locations: Panama, Donoso, Vancouver, Canada, Toronto

☆ Panama electoral court rules out imminent referendum on First Quantum contract
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Oct 30 (Reuters) - Panama electoral court said in a statement on Monday that there are not currently "conditions" to hold a referendum on a controversial mining contract with Canada's First Quantum Miners. President Laurentino Cortizo said on Sunday Panama would hold a referendum to decide whether to scrap a contract with Canadian miner First Quantum's local unit following days of protests in opposition to the open pit copper mine project. Reporting by Valentine Hilaire; Writing by Brendan O'Boyle; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Laurentino Cortizo, Valentine Hilaire, Brendan O'Boyle, Isabel Woodford Organizations: MEXICO CITY, Canada's, Miners, Sunday Panama, Thomson Locations: MEXICO, Panama

TORONTO, Oct 30 (Reuters) - Shares in First Quantum Minerals (FM.TO) closed down 28% on Monday after Panama's government said it will hold a referendum on whether to scrap a mining contract awarded to the Canadian mining company on Oct. 20. Shares of First Quantum closed at C$20 after falling as much as 30% earlier in the trading session. President Laurentino Cortizo's decision to hold a binding referendum on Dec. 17 comes after 10 months of disputes regarding First Quantum's open pit mine at Cobre Panama. Thousands of people hit the streets over last weekend after the government approved the new contract with the company. Cobre Panama represents nearly 5% of Panama's gross domestic product and 1.5% of global copper production, according to RBC Capital Markets.

Persons: Panama's, Laurentino, Jefferies, Divya Rajagopal, Eli Moreno, Valentine Hilarie, Tomasz Janowski, Will Dunham, Jan Harvey Organizations: TORONTO, Quantum Minerals, Central American, Cobre, RBC Capital Markets, Thomson Locations: Toronto, Panama, Cobre Panama, Panama City

Panama's President Laurentino Cortizo Cohen addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. "I've respectfully listened to those who oppose the contract with Minera Panama," Cortizo said, using the name of First Quantum's local unit. Neither First Quantum nor Minera Panama immediately responded to requests for comment. On Saturday, Minera Panama voiced concern after protesters on boats approached the international Punta Rincon port where it operates. After Cortizo's announcement, Panama's main workers' union said its members will keep protesting in the streets until the contract is annulled.

Persons: Laurentino Cortizo Cohen, Eduardo Munoz, Laurentino Cortizo, Cortizo, I've, Minera, Valentine Hilaire, Elida Moreno, Daina Beth Solomon, Christian Schmollinger, Simon Cameron, Moore Organizations: General Assembly, REUTERS, PANAMA CITY, Sunday Panama, Minera, Central, Protesters, Critics, Punta Rincon, Thomson Locations: New York City, U.S, PANAMA, Panama, Central American, Minera Panama

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. President Laurentino Cortizo announced that the new mining restrictions will apply to both future mining projects as well as those currently seeking permits. The abrupt mining pause comes barely a week after Cortizo hailed the revised contract that allows the local unit of Canada's First Quantum (FM.TO) to continue operating its lucrative Cobre Panama project. "Panama is a mining country," Alexander told Reuters, arguing that without the mine, the country's economy would barely grow this year, versus the robust 6% growth the government estimates. The Cobre Panama mine alone accounts for nearly 5% of Panama's economy.

Persons: Laurentino Cortizo, Cortizo, Hector Alexander, Alexander, Panama's, Edison Broce, Valentine Hilaire, Christian Plumb, Marguerita Choy, Raju Gopalakrishnan Organizations: Minerals, REUTERS, Aris, Reuters, Thomson Locations: Panama, Donoso

☆ Mexico's Pemex gets billions more in government support
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +3 min

The logo of Petroleos Mexicanos (Pemex) is pictured at the company's headquarters in Mexico City, Mexico July 26, 2023. In October, Pemex received 55.9 billion pesos ($3.2 billion) from the government to strengthen its financial position, accounts show. Separately, Pemex received 71.7 billion pesos over the quarter for debt amortizations. Instead of focusing so much on Pemex, Mexico could have made more of private-sector investment, boosting renewable electricity output and reducing fossil fuel reliance, he said. Pemex also reported a third-quarter net loss of 79.13 billion pesos, revenues of 462 billion pesos and a financial debt of $105.8 billion.

Persons: Raquel Cunha, Pemex, Octavio Romero, Andres Manuel Lopez Obrador, Carlos Urzua, Lopez Obrador, Valentine Hilaire, Ana Isabel Martinez, Adriana Barrera, David Alire Garcia, Stefanie Eschenbacher, Anthony Esposito, David Holmes, Jonathan Oatis Organizations: REUTERS, Reuters, Thomson Locations: Mexico City, Mexico, MEXICO, Dos Bocas, Pemex

☆ Walmex Q3 net profit jumps more than 12%, pushed by higher sales
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

The logo of Walmart is pictured outside a store in Mexico City, Mexico July 27, 2023. Walmart de Mexico, or Walmex, the biggest retailer in Mexico, posted net profit of 13.63 billion pesos ($782 million). Quarterly revenue at the chain rose 7.7% from the year-earlier period to reach 213.07 billion pesos, missing slightly the LSEG estimate of 213.34 billion pesos. Sales increased 9.5% in Mexico and 9% in Central America, with the retailer adding 24 new stores in Mexico and three in Central America, which contributed 1.6% to total revenues. Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter rose 8.5% to 23 billion pesos.

Persons: Henry Romero, Walmex, Guilherme Loureiro, Loureiro, Cofece, Valentine Hilaire, Aida Pelaez Fernandez, Brendan O'Boyle, Tom Hogue, Cynthia Osterman Organizations: Walmart, REUTERS, MEXICO CITY, Central America, Thomson Locations: Mexico City, Mexico, MEXICO, Mexican, Central America

☆ Nicaragua sends Catholic priests to Rome after talks with Vatican
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stringer/File Photo Acquire Licensing RightsOct 18 (Reuters) - Nicaragua sent a dozen Catholic priests who had been "processed" by judicial authorities to Rome on Wednesday, the government said, the latest action, a critic said, in a government crackdown on the church. President Daniel Ortega has at times accused Catholic church leaders of seeking to overthrow his government, while judicial authorities have arrested priests and accused some of committing treason, among other crimes. An exiled Nicaraguan researcher who publishes records of what she describes as the persecution of the Catholic Church under Ortega said sending the priests to Rome was a "forced removal." The researcher, Martha Patricia Molina, accused Ortega of seeking to "strangle and disappear" the church with such action. Bishop Rolando Alvarez, perhaps Ortega's most prominent Catholic critic, was this year sentenced to a 26-year jail term on treason charges, but was not among the 12 priests the government sent to Rome.

Persons: Stringer, Daniel Ortega, Ortega, Martha Patricia Molina, Bishop Rolando Alvarez, Valentine Hilaire, David Alire Garcia, Christopher Cushing, Robert Birsel Organizations: Metropolitan Cathedral, REUTERS, Catholic, Thomson Locations: Managua, Nicaragua, Rome, Italy, Nicaraguan, United States

REUTERS/Paulo Whitaker/File Photo Acquire Licensing RightsMEXICO CITY, Oct 19 (Reuters) - Brazilian fintech Nubank's Mexico arm has requested a banking license from local regulators, the unit's top executive said on Thursday, describing it as a bid to broaden product offering. A banking license would allow Nubank to offer "diverse kinds of investments," including shares in Mexico's main stock index, the company said in a statement to Reuters. Other opportunities stemming from a banking license include handling direct deposits of salaries for customers and setting higher deposit limits, Nubank Mexico head Ivan Canales said in an interview. Canales did not provide a timeline for obtaining the license in what is Nubank's second-biggest market after Brazil. Funding for Nubank's expansion plans will come from parent company Nu Holdings (NUN.MX) and deposits made by their customers, said Canales.

Persons: Paulo Whitaker, Ivan Canales, Canales, Nubank, Valentine Hilaire, David Alire Garcia, Varun Organizations: REUTERS, MEXICO CITY, Reuters, Nu Holdings, Thomson Locations: Brazilian, Sao Paulo, Brazil, MEXICO, Mexico

☆ Hurricane Norma seen strengthening as it churns toward Baja California
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Oct 18 (Reuters) - Hurricane Norma is expected to further strengthen on Wednesday as it bears down on the southern tip of Mexico's Baja California peninsula, home to popular tourist beach resorts, according to the U.S. National Hurricane Center (NHC). The Miami-based center upgraded Norma to a Category 1 hurricane earlier on Wednesday. "Rapid strengthening is forecast through tonight, and Norma could become a major hurricane on Thursday," the NHC reported, adding that gradual weakening of the hurricane is forecast as it approaches Baja California on Friday and Saturday. Norma's maximum sustained winds have reached 80 miles per hour (129 kph) as it heads north. The hurricane is located about 520 miles (837 km) south of the beach resort city of Cabo San Lucas.

Persons: Norma, Valentine Hilaire, Jamie Freed Organizations: MEXICO CITY, U.S, National Hurricane Center, NHC, Thomson Locations: MEXICO, Mexico's Baja California, Miami, Baja California, Cabo San Lucas, Mexico

Data from Mexico's financial products watchdog Condusef shows that the accounts would be the highest-yielding ones offered in the local financial sector. Other Latin American fintechs like Brazil's Nubank (NUN.MX) and Argentina's UALA have also launched savings accounts this year in Mexico, where data from the national statistics agency showed less than half of the population has savings accounts. The Mexican arms of Nubank and UALA both offer 9% yields on their savings accounts, already much higher than most banks. Stori expects to reach 3 million savings account holders by the end of next year, said its General Manager of New Products Sergio Duenas. ($1 = 18.0044 Mexican pesos)Reporting by Valentine Hilaire; Editing by David Alire Garcia, Christian Plumb and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Marlene Garayzar, Sergio Duenas, Valentine Hilaire, David Alire Garcia, Christian Plumb, Marguerita Choy Organizations: MEXICO CITY, Wednesday, Reuters, The Bank of, New, Thomson Locations: MEXICO, Mexico, The Bank of Mexico, Nubank

☆ Mexico President Taps New Energy Chief as His Term Enters Final Year
▼ + stars: | 2023-10-16 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

MEXICO CITY (Reuters) - Mexican President Andres Manuel Lopez Obrador announced he has picked Miguel Angel Maciel to be his next energy minister, less than a year before the end of his six-year government, he wrote in a Monday post on social media. Maciel will replace Rocio Nahle, who served as energy chief and chair of the board of state-owned oil company Pemex since the beginning of Lopez Obrador's term in late 2018. Maciel has previously served as deputy energy minister, and Lopez Obrador stressed in his post on X that the petroleum engineer by training is trusted "due to his honesty and proven convictions in favor of national sovereignty." Nahle formally left her job as minister before the president's most important energy infrastructure project, the Olmeca oil refinery in his home state Tabasco, has come online. Lopez Obrador tasked Nahle with overseeing the project, which is running behind schedule and over budget.

Persons: Andres Manuel Lopez Obrador, Miguel Angel Maciel, Maciel, Rocio Nahle, Lopez, Nahle, Lopez Obrador, Noe Torres, Stefanie Eschenbacher, Valentine Hilaire Organizations: MEXICO CITY Locations: MEXICO, Veracruz, Tabasco, Dos Bocas, Houston, wean Mexico

☆ Mexico blames Grupo Mexico for 2014 toxic spill, wants new cleanup plan
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

Grupo Mexico failed to remediate the river's water and soil and did not provide the funds to carry out proper works for the environmental recovery of the area, according to Albores. The company needed to provide an initial 2 billion pesos ($111.86 million), of which it only provided half, she said. The possible fine for the spill was set at up to 40 million pesos, worth about $3 million then. Grupo Mexico did not immediately reply to a request for comment on the causes of the spill and the government complaint. Shares in Grupo Mexico were down 2.3% after Albores' comments on Thursday.

Persons: Maria Luisa Albores, Albores, Ana Isabel Martinez, Valentine Hilaire, Brendan O'Boyle, Marguerita Choy Organizations: Grupo, MEXICO CITY, Grupo Mexico, Thomson Locations: Grupo Mexico, Mexico City, Mexico, MEXICO, Mexico's, Sonora

The logo of Mexico's Central Bank (Banco de Mexico) is seen at its building in downtown Mexico City, Mexico February 28, 2019. Mexico could lure annual foreign direct investment flows of $55 billion to $60 billion if it takes better advantage of nearshoring, up from $36 billion in 2022, she said. That has dampened expectations Mexico could benefit from increased investment in semiconductors in North America. Mexico still faces competition to win investment from both North and Central America, plus Colombia, he said. "I don't think this measure is a game-changer to persuade those who have doubts," said Vejar.

Persons: Daniel Becerril, Gabriel Yorio, Andres Manuel Lopez Obrador, Gabriela Siller, Siller, Yorio, Lopez Obrador, Ramse Gutierrez, Franklin Templeton, Tesla, Carlos Vejar, Valentine Hilaire, Dave Graham, Anthony Esposito, Grant McCool, Sonali Paul Organizations: Mexico's Central Bank, Banco, REUTERS, MEXICO CITY, Banco Base, Central America, Thomson Locations: Banco de Mexico, Mexico City, Mexico, MEXICO, Asia, China, North America, Canada, United States, Franklin Templeton Mexico, Nuevo Leon, Mexican, North, Central, Colombia

☆ Dominican Republic intensifies Haiti border shutdown over canal row
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +1 min

Haitians carry personal belongings, as they cross the border between the Dominican Republic and Haiti, after Dominican President Luis Abinader announced an imminent total border shutdown amid a conflict over the construction of a water channel from a shared river, in Ouanaminthe, Haiti September 14, 2023. REUTERS/Octavio... Acquire Licensing Rights Read moreOct 9 (Reuters) - The Dominican Republic announced new measures to strengthen control at its border with Haiti, including an indefinite extension of the border shutdown it enacted last month plus boosting military forces as well as a new exports ban. The measures were announced by Dominican security officials in a statement on Monday. The Dominican Republic sealed its border with Haiti last month after it deemed construction work on a canal diverting water from the Massacre River a treaty violation since it was launched unilaterally by Haitians without government support. Reporting by Paul Mathiasen and Valentine Hilaire; Editing by David Alire GarciaOur Standards: The Thomson Reuters Trust Principles.

Persons: Luis Abinader, Octavio, Paul Mathiasen, Valentine Hilaire, David Alire Garcia Organizations: Dominican, REUTERS, Dominican Republic, Thomson Locations: Dominican Republic, Haiti, Ouanaminthe, Dominican

☆ Guatemala's Arevalo says state using violence to counter protests, warns of possible 'siege'
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Josue Decavele Acquire Licensing RightsGUATEMALA CITY, Oct 9 (Reuters) - Guatemala's president-elect Bernardo Arevalo said on Monday the government is using violence to counter protests and create tension which could be used as an excuse for declaring a state of "siege," even as the government announced tighter measures. The attorney general's office has conducted raids on the buildings of electoral authorities and Arevalo's Semilla party headquarters and has moved to suspend the party. Late on Monday, outgoing President Alejandro Giammattei said on national TV the country would no longer tolerate street blockades, which he called illegal. "Many of the blockades in the west of the country have counted on the participation and assistance of foreigners," he said. He also called on Arevalo to meet with OAS mediators to ensure a peaceful handover on Jan. 14.

Persons: Josue, Bernardo Arevalo, Arevalo's, Alejandro Giammattei, Giammattei, Arevalo, Sofia Menchu, Nelson Renteria, Valentine Hilaire, Sarah Morland, Brendan O'Boyle, Stephen Coates Organizations: REUTERS, GUATEMALA CITY, Organization of American States, Thomson Locations: Guatemala City, Guatemala, GUATEMALA, Arevalo's, El Salvador, Guatemalan, Arevalo .

☆ Walmart's Mexico unit to face anti-trust panel after three-year investigation
▼ + stars: | 2023-10-07 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

Walmart's logo is seen outside one of the stores ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. REUTERS/Kamil Krzaczynski//File Photo Acquire Licensing RightsMEXICO CITY, Oct 6 (Reuters) - Walmart's Mexico unit said on Friday it will face an anti-trust panel for alleged relative monopolistic practices related to the supply, wholesale distribution and marketing of consumer goods. The allegations follow a three-year investigation by Mexico's antitrust regulator, Cofece, and the company now has 45 days to provide arguments and evidence in its defense. Walmart de Mexico (WALMEX.MX), known as Walmex, was first told in 2020 that it was under review for possible antitrust behavior. The retailer last year posted revenue of more than 819 billion pesos ($45 billion) from its operations in Mexico and Central America.

Persons: Kamil Krzaczynski, Walmex, Cofece, Banorte, Valentine Hilaire, Daina Beth Solomon, Stephen Eisenhammer, Sandra Maler, Edwina Gibbs Organizations: REUTERS, MEXICO CITY, Walmart, Thomson Locations: Chicago , Illinois, U.S, MEXICO, Mexico, Central America

☆ Spain's PLD Space launches private reusable rocket in milestone for Europe
▼ + stars: | 2023-10-07 | by ( Aislinn Laing | ) www.reuters.com time to read: +3 min

MADRID, Oct 7 (Reuters) - Spanish company PLD Space launched its reusable Miura-1 rocket early on Saturday from a site in southwestern Spain, carrying out Europe's first fully private rocket launch and offering hope for the continent's stalled space ambitions. The Miura-1 rocket, named after a breed of fighting bulls, is as tall as a three-storey building and has a 100-kg (220-pound) cargo capacity. A first attempt to launch the Miura-1 rocket in May was abandoned due to strong high-altitude winds. Competitors lining up to join the race to launch small payloads include companies in Scotland, Sweden and Germany. In July, the last launch of Europe's largest rocket, the premier Ariane 5 space launcher, took place at the European spaceport in Kourou, French Guiana.

Persons: Miura, Italy's Vega, Vega, Aislinn Laing, David Alire Garcia, Valentine Hilaire, Will Dunham Organizations: Space, Virgin Orbit, Boeing, Competitors, Ariane, European Space Agency, Thomson Locations: MADRID, Spanish, Spain, Huelva, Britain, Scotland, Sweden, Germany, Kourou, French Guiana, Europe, Russia, Ukraine

☆ Walmart in Mexico faces anti-trust panel for alleged monopolistic practices
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

Walmart's logo is seen outside one of the stores ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. REUTERS/Kamil Krzaczynski//File Photo Acquire Licensing RightsCompanies Wal Mart de Mexico SAB de CV FollowMEXICO CITY, Oct 6 (Reuters) - Walmart's Mexico unit said on Friday it will face an anti-trust panel for "alleged relative monopolistic practices" related to supply and wholesale distribution of consumer goods. Walmart de Mexico said in a statement that Mexico's antitrust regulator, Cofece, had informed the company of opening a "quasi-jurisdictional process" following a 3-year investigation. Walmex is among the biggest retailers in Mexico, with 2,890 locations in the country. Reporting by Valentine Hilaire and Daina Solomon; editing by Stephen Eisenhammer and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Kamil Krzaczynski, Valentine Hilaire, Daina Solomon, Stephen Eisenhammer, Sandra Maler Organizations: REUTERS, Wal Mart de, SAB, Walmart, Thomson Locations: Chicago , Illinois, U.S, Mexico

☆ Strike ends at major Mexican gold mine after workers pocket 8% raise
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

Mexico is a top 10 gold miner, and Penasquito has ranked among its most productive precious metals projects. Both parties agreed to an 8% salary increase for workers, the statements said, a figure below the 10%-20% hike proposed by the union initially. The miner also agreed to pay two months salary to workers if it fails to report profits in the year, the union said. The statements noted that workers will also receive a 152 million peso ($8.3 million) bonus, divided equally among them. In addition to precious metals, Penasquito also produces significant volumes of base metals zinc and lead.

Persons: Dado Ruvic, Penasquito, Newmont, Sen, Napoleon Gomez, Andres Manuel Lopez Obrador, Daina Beth Solomon, Valentine Hilaire, David Alire Garcia, Stephen Coates Organizations: REUTERS, MEXICO CITY, National Union of Mine, Metal Workers, Thomson Locations: MEXICO, Mexico, Mexican Republic, Zacatecas

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