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☆ Hurricane Norma weakens but still 'dangerous' as it approaches Baja California peninsula
▼ + stars: | 2023-10-21 | by ( ) www.reuters.com time to read: +1 min

[1/5] People observe waves breaking on the beach as Hurricane Norma barrels towards the Baja California peninsula, in Cabo San Lucas, Mexico, October 20, 2023. REUTERS/Fernando Castillo Acquire Licensing RightsMEXICO CITY, Oct 21 (Reuters) - Hurricane Norma weakened to a Category 2 storm on Saturday as it approached the south of Mexico's Baja California peninsula where it was expected to make landfall later in the day, bringing with it a "dangerous storm surge." Mexican authorities called on residents of the state of Baja California Sur to take precautions and stay in their homes, while shelters were set up. "Norma is expected to remain a hurricane while it moves over the southern portion of Baja California Sur," the NHC said, noting nonetheless that further weakening was expected over the weekend. Local authorities maintained a "prevention zone" between the towns of Todos Santos and Los Barriles, in the state of Baja California Sur.

Persons: Fernando Castillo, Norma, Marion Giraldo, Isabel Woodford, Diane Craft Organizations: REUTERS, MEXICO CITY, U.S National Hurricane Center, NHC, Todos Santos, Mexican Pacific, Thomson Locations: Baja California, Cabo San Lucas, Mexico, MEXICO, Mexico's Baja California, Baja California Sur, Todos, Mexican

☆ 'No doubt' Peru in recession, econ minister says, seeking stimulus
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: 1 min

LIMA, Oct 20 (Reuters) - There is "no doubt" Peru is in a recession, Economy Minister Alex Contreras said on Friday, his first acknowledgment of the country's negative growth, before speaking before congress to request a fiscal stimulus. Contreras had previously downplayed months of economic contraction, but told journalists outside congress on Friday that the "difficult" situation was now definitively considered a recession. Reporting by Marco Aquino; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Alex Contreras, Contreras, Marco Aquino, Isabel Woodford Organizations: Thomson Locations: LIMA, Peru

☆ Venezuela Sets Referendum Date on Territory Dispute With Guyana
▼ + stars: | 2023-10-20 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

CARACAS (Reuters) - Venezuelans will vote on Dec. 3 in a referendum on "the rights" over a potentially oil-rich territory in dispute with its neighbor Guyana, authorities said on Friday. Both countries have been involved in a long-running dispute over their borders. Venezuela protested an oil tender announced by Guyana in September, arguing that the offshore areas are subject to dispute and the companies awarded the fields will not have the rights to explore them. The approximately 160,000 square kilometers under dispute along the countries' borders is mostly impenetrable jungle, and known as the "Esequiba region." Venezuela's claims extend over the territory was reactivated in recent years after the discovery of oil and gas near the maritime border.

Persons: Deisy Buitrago, Isabel Woodford, Alistair Bell Organizations: International Court of Justice Locations: CARACAS, Guyana, Venezuela

☆ Mexico logs sharp uptick in Venezuelan migrants amid latest surge
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jose... Acquire Licensing Rights Read moreMEXICO CITY, Oct 17 (Reuters) - More migrants crossed into Mexico last month, led by a sharp increase from Venezuela but also significant numbers from Guatemala and Honduras, Mexico's top diplomat told lawmakers on Tuesday. In testimony to Mexican senators, Foreign Minister Alicia Barcena said that in the month of September alone, 60,000 Venezuelan migrants, 35,000 Guatemalan migrants and 27,000 Honduran migrants arrived in Mexico. The September data comes ahead of Sunday's migration summit in the southern Mexican town of Palenque hosted by President Andres Manuel Lopez Obrador where regional leaders will discuss rising U.S.-bound migration in Latin America. After U.S. authorities authorized in May more legal pathways to enter the United States, the numbers of migrants crossing Mexican territory fell abruptly. Barcena also noted that some 1.13 million migrants have so far this year reached Mexico's southern border with Guatemala, and that 1.75 million had reached the U.S.-Mexico border.

Persons: Cheila Gonzalez, Alicia Barcena, Andres Manuel Lopez, Gustavo Petro, Venezuela's Nicolas Maduro, Barcena, Raul Cortes, Isabel Woodford, Sandra Maler Organizations: REUTERS, MEXICO CITY, U.S, Thomson Locations: Guatemala, United States, Ciudad Juarez, Villa Ahumada, Chihuahua, Mexico, Jose, MEXICO, Venezuela, Honduras, Mexico's, Palenque, America

☆ Why an economic soft landing may prove elusive
▼ + stars: | 2023-10-13 | by ( Edward Chancellor | ) www.reuters.com time to read: +8 min

His latest book, “You Always Hurt the One You Love: Central Banks and the Murder of Capitalism”, won’t make him any friends in monetary policymaking circles. The Fed responded by reducing interest rates to zero and employing various tools to lower bond yields. These economic imbalances prevented central banks from returning interest rates to normal levels. Unless, that is, liberalising economic reforms are enacted that boost productivity and allow interest rates to rise. Bernard Conolly’s book, “You Always Hurt the One You Love: Central Banks and the Murder of Capitalism” was published in hardback in September.

Persons: Bernard Connolly, Connolly, won’t, they’ve, Michael Woodford, ”, Alan Greenspan, staved, Lehman, Edward Chancellor’s “, Bernard Conolly’s, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, European Monetary Union, European Commission, Banks, U.S . Federal, stoke, Lehman Brothers, Fed, Reuters Graphics, Treasury, Securities, Thomson Locations: U.S, United States, British, Europe, American, “, ”, disequilibrium, intertemporal, Central

☆ Argentina central bank hikes key rate to 133% as inflation worsens
▼ + stars: | 2023-10-12 | by ( Jorge Otaola | ) www.reuters.com time to read: +2 min

The facade of Argentina's Central Bank is pictured in the financial district of Buenos Aires, Argentina December 7, 2021. Argentina's central bank is struggling to keep the benchmark interest rate in line with inflation expectations, with a central bank poll of analysts later in the day forecasting inflation to end the year at more than 180%. Reuters Graphics Reuters GraphicsThe impacts of inflation has been worsened by the government's near-18% devaluation of the peso in mid-August, which coincided with the prior central bank hike, where it increased the interest rate from 97% to 118%. Milei, who is seeking to shut the central bank and dollarize the economy to tame inflation, recently recommended depositors avoid renewing bank holdings in pesos, arguing that the peso does not even serve as "excrement." The central bank's rate change on Thursday came after a last-minute decision not to raise the rate to 145% "following a leak," after Reuters reported the higher figure, citing a source close to the bank.

Persons: Agustin Marcarian, Alberto Fernandez, Javier Milei, Jorge Otaola, Brendan O'Boyle, Isabel Woodford, Anthony Esposito, Richard Chang, Jamie Freed Organizations: Central, REUTERS, Graphics Reuters, Reuters, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES

☆ Robert De Niro takes on Argentine swear words and steak in new TV dramedy
▼ + stars: | 2023-10-10 | by ( Lucila Sigal | ) www.reuters.com time to read: +2 min

Actors Robert De Niro and Luis Brandoni perform during the filming of the series "Nada", in Buenos Aires, Argentina May 7, 2022. Star+/Handout via REUTERS/File Photo Acquire Licensing RightsBUENOS AIRES, Oct 10 (Reuters) - Oscar-winning actor Robert De Niro will make his small-screen debut this week, starring in an Argentine television series where he gets to grips with Buenos Aires slang and samples the local cuisine. That's kind of why we put together this list of Argentine insults and their meanings," co-director Gaston Duprat told Reuters. "Nada" marks the first time De Niro, 80, will star in a television series. Spread out across five half-hour episodes, De Niro offers up bits of Argentine slang in each one.

Persons: Robert De Niro, Luis Brandoni, Manuel, De Niro, Gaston Duprat, Lucila Sigal, Isabel Woodford, Rosalba O'Brien Organizations: REUTERS, Aires, Reuters, La Boca, Hulu, Disney, San Sebastian Festival, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Argentine, American, leche, America, United States, Europe, Spain

☆ 'Extremely dangerous' Category 4 Hurricane Lidia heads to Mexico's Pacific coast
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

[1/9] Men board up the storefront of a business as Hurricane Lidia barrels towards Mexico's Pacific coast, in Puerto Vallarta, Mexico October 10, 2023. REUTERS/Christian Ruano Acquire Licensing RightsMEXICO CITY, Oct 10 (Reuters) - Hurricane Lidia reached Category 4 strength on Tuesday afternoon as it barreled towards Mexico's Pacific coast, where major beach and tourist resorts were bracing for significant downpours, likely flooding as well as imminent hurricane-force winds. The U.S. National Hurricane Center (NHC) warned that Hurricane Lidia was of "extremely dangerous" strength and could strengthen further before making landfall on Tuesday night. The hurricane was about 110 miles (177 km) southwest of major beach destination Puerto Vallarta, the Miami-based NHC reported in its latest bulletin at 5:30 p.m. The Puerto Vallarta airport announced on social media it was closing from 4 p.m. (2200 GMT) until 8 a.m. on Wednesday.

Persons: Lidia, Christian Ruano, Max, Raul Cortes Fernandez, Brendan O'Boyle, Isabel Woodford, Stephen Eisenhammer, Stephen Coates, Sandra Maler Organizations: REUTERS, Christian, MEXICO CITY, U.S, National Hurricane Center, NHC, Tropical, Thomson Locations: Puerto Vallarta, Mexico, MEXICO, Miami, Puerto, Nayarit, Sinaloa, Jalisco, Guerrero

☆ Mexico seeks diplomatic arrangements to return LatAm migrants
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

[1/3] Agents from Mexico's National Institute of Migration (INM) carry out an operation on the banks of the Rio Bravo river, the border between Mexico and the United States, in Ciudad Juarez, Mexico October 5, 2023. REUTERS/Jose Luis Gonzalez Acquire Licensing RightsMEXICO CITY, Oct 6 (Reuters) - Mexico's national migration institute (INM) on Friday said it has asked the foreign ministry to make diplomatic arrangements with Brazil, Colombia, Cuba, Nicaragua and Venezuela for the countries to accept migrant return flights. In the last three weeks, more than 27,000 migrants have been "persuaded to get down from trains," INM said in a statement. INM said it sought help from the ministry so that Brazil, Colombia, Cuba, Nicaragua and Venezuela would accept "assisted returns via air." INM also said it had hired charter planes and buses to transport migrants within Mexico, as well as to their home countries.

Persons: Jose Luis Gonzalez, INM, Diego Ore, Brendan O'Boyle, Beth Solomon, Isabel Woodford Organizations: Mexico's National Institute of Migration, REUTERS, MEXICO CITY, Thomson Locations: Rio Bravo, Mexico, United States, Ciudad Juarez, MEXICO, Brazil, Colombia, Cuba, Nicaragua, Venezuela, U.S

☆ What is a quantum dot?
▼ + stars: | 2023-10-06 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Quantum dot research won three scientists the Nobel Prize in chemistry. A quantum dot is a tiny particle that changes color based on its size. Quantum dots are essentially minuscule, inorganic particles that shine different colors when exposed to light. How quantum dots are usedLinke said that quantum dots are now found in daily life, inside "the very best TV screens" with the brightest colors. AdvertisementAdvertisement"The pixels consist of red and green quantum dots, and the blue light from the back controls those colors," Linke said.

Persons: —, Heiner Linke, Linke, Chris Woodford, Woodford, Moungi, Louis Brus, Alexei Ekimov Organizations: Service, Chemistry, Linke, American Association for, Advancement of Science, MIT, Louis Brus of Columbia University, Nanocrystals Technology Inc Locations: Woodford

☆ Migrants aboard Mexico cargo trains stranded miles from U.S. border
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +3 min

[1/2] Migrants travelling by train to Ciudad Juarez in an attempt to reach the United States, wait near train wagons while being stranded near Villa Ahumada, in the state of Chihuahua, Mexico September 29, 2023. Sixty northbound cargo trains run by Mexico's Ferromex were stopped last week, after about half a dozen migrants suffered death or injury. Grupo Mexico, which owns Ferromex, could not immediately be reached about the sudden train stoppage with migrants aboard near Villa Ahumada. Meanwhile, further east, in the border city of Piedras Negras that sits opposite Eagle Pass, Texas, Venezuelan migrant Jose Julian said on Friday he had similarly been stranded while traveling aboard the cargo trains. For years, migrants trying to reach the United States have crisscrossed Mexico on cargo trains.

Persons: Jose Luis Gonzalez, VILLA, Sasha Pacheco, we're, Mexico's Ferromex, Villa Ahumada, Marlon Vera, who'd, Jose Julian, Daniel Becerril, Isabel Woodford, Kylie Madry, Valentine Hilaire, Michael Perry Organizations: REUTERS, Grupo Mexico, Reuters, Thomson Locations: Ciudad Juarez, United States, Villa Ahumada, Chihuahua, Mexico, PIEDRAS NEGRAS, U.S, Mexican, Piedras Negras, , Texas, Monterrey, Torreon, Rio, Villa, Mexico City

☆ Mexico's Banorte plans to hire up to 1,200 people to tap into nearshoring
▼ + stars: | 2023-09-28 | by ( Marion Giraldo | ) www.reuters.com time to read: +1 min

[1/2] A general view shows the of headquarters of Banorte Bank in Monterrey, Mexico, June 17, 2019. Picture taken June 17, 2019. REUTERS/Daniel Becerril/File Photo Acquire Licensing RightsMEXICO CITY, Sept 27 (Reuters) - Mexican bank Banorte plans to hire between 1,000 and 1,200 more employees to handle operations related to nearshoring, amid an expected boom in activity from global manufactures wishing to relocate their factories, a company executive said on Wednesday. The latest hiring estimate marks an increase from Banorte's March announcement that it would hire 800 new employees to tap into nearshoring, in which businesses set up shop in Mexico near the U.S. border. Banorte projects the trend could generate an additional 30% in exports from Mexico over the next five years, totaling $168 billion.

Persons: Daniel Becerril, Alejandro Padilla, Banorte's, nearshoring, Marion Giraldo, Carolina Pulice, Isabel Woodford, Leslie Adler Organizations: Banorte Bank, REUTERS, Thomson Locations: Monterrey, Mexico, MEXICO, U.S, Nearshoring, North America, Asia

About 8,000 trailers carrying an estimated $1 billion worth of goods have been stranded on the Mexican side over the past week, said Manuel Sotelo, president of the transport association of Ciudad Juarez, a major manufacturing hub across from El Paso, Texas. The delays forced a Canadian snowmobile and off-road vehicle manufacturer to suspend production on Monday and Tuesday at three factories in Ciudad Juarez that employ some 9,000 people. "Due to the waiting times on the international bridges in Ciudad Juarez, we have had a significant reduction in the volume of units that we can export daily," the Quebec-based company, BRP, said in a statement. Jesus Salayandía, a representative of the Mexican industry association Canacintra, said he expected other companies in Ciudad Juarez would announce temporary work stoppages if the long wait times at the border continue. U.S. border authorities suspended cargo processing at one of El Paso's international bridges last week to shift officers to process more migrant arrivals.

Persons: Manuel Sotelo, Sotelo, Jesus Salayandía, Ferromex, Jose Luis Gonzalez, Laura Gottesdiener, Isabel Woodford, Sonali Paul Organizations: . Customs, Border Protection, Patrol, U.S ., Ciudad, Reuters, BRP, El, U.S . Customs, Protection, Union Pacific, Wednesday . Union Pacific, Thomson Locations: Zaragoza, Ysleta, U.S, Cordova, Americas, CIUDAD JUAREZ, Mexico, Ciudad Juarez, El Paso , Texas, New Mexico, Arizona, Texas, Canadian, Quebec, Mexican, United States, Eagle Pass , Texas, Monterrey, Mexico City

☆ US asks Mexico for fresh workers' rights review at auto parts facility
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

U.S. Trade Representative Katherine Tai chairs the Indo-Pacific Economic Framework meeting in Detroit, Michigan, U.S. May 27, 2023. The latest review marks the U.S. Trade Representative office's 14th labor rights complaint against facilities in Mexico since the U.S.-Mexico-Canada Agreement (USMCA) on trade took effect in 2020, including nine this year. U.S. Trade Representative Katherine Tai said the request was intended to "address a serious violation of workers' rights" at the automotive parts factory, involving an employer possibly terminating workers for engaging in union activity. The Mexican government has ten days to review the U.S. request, and if it accepts, another 45 days to investigate the case. Mexico has recently denied two requests for probes into labor rights concerns, rejecting a U.S. call to review Grupo Yazaki's auto components factory in the state of Guanajuato and also a Grupo Mexico mine labor probe.

Persons: Katherine Tai, Rebecca Cook, Tai, Teklas, Brendan O'Boyle, Isabel Woodford, Sonali Paul Organizations: Trade, REUTERS, Automotive, U.S . Trade, office's, . Trade, Washington, Grupo, Thomson Locations: Detroit , Michigan, U.S, MEXICO, Mexico, Mexican, Aguascalientes, Canada, States, Turkey, Europe, North America, China, Guanajuato, Grupo Mexico

☆ Mexico's Cemex in talks with banks over $3 bln debt refinancing -BBG
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

The logo of Mexican cement maker CEMEX is pictured at it's plant in Monterrey, Mexico June 8, 2021. REUTERS/Daniel Becerril/File Photo Acquire Licensing RightsMEXICO CITY, Sept 21 (Reuters) - Mexican cement maker Cemex is in talks to refinance its entire $3 billion credit facility with banks, Bloomberg reported on Thursday, citing company executives. "We're in current discussions with our banks, because the biggest amount of debt that is maturing is bank debt," Chief Financial Officer Maher Al-Haffar was quoted as saying in an interview. A Cemex spokesperson pointed Reuters to prior earnings calls in which executives had discussed the potential of a refinancing. Last year, ratings agency S&P estimated that in 2023 and 2024, Cemex would face "debt maturities of less than $500 million," noting that the amount was "highly manageable."

Persons: Daniel Becerril, Maher Al, Haffar, Fernando Gonzalez, Fitch, Cemex, Gonzalez, Kylie Madry, Isabel Woodford, Richard Chang Organizations: REUTERS, Bloomberg, Mexico City, Thomson Locations: Monterrey, Mexico, MEXICO, Mexican, Costa Rica, El Salvador, Europe

☆ Argentina's economy shrinks for first time in nearly three years
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: 1 min

BUENOS AIRES, Sept 19 (Reuters) - Argentina's economy shrank 4.9% in the second-quarter of 2023 versus the year-ago period, the country's statistics agency said on Tuesday, slightly missing analysts' forecast of a 4.8% contraction and posting the first break in growth for years. Tuesday's result marks the first time the country's growth was in the red since 2020. The agricultural sector registered the highest drop, with a 40.2% decrease compared to the same period the previous year. The country is battling to salvage a $44 billion deal with the International Monetary Fund (IMF) amid a steady depreciation of the peso, negative central bank reserves and a flagging economy due to the impact of drought on the farming sector. Reporting by Hernan Nessi; Writing by Carolina Pulice; Editing by Aida Pelaez-Fernandez and Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Hernan Nessi, Carolina Pulice, Aida Pelaez, Fernandez, Isabel Woodford Organizations: International Monetary Fund, Thomson Locations: BUENOS AIRES

☆ Jack Daniel's maker Brown-Forman misses profit estimate as costs pinch
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

A Whiskey tasting station is seen at the Jack Daniel's distillery in Lynchburg, Tennessee May 10, 2011. Excluding items, Brown-Forman earned 48 cents per share, compared with a profit estimate of 53 cents per share, as per Refinitiv data. A 90-basis-point expansion in gross margin in the quarter was driven by a 250-basis-point benefit from higher pricing as well as a let up in supply-chain costs, Brown-Forman said on a post-earnings call. Its quarterly net sales rose 3%, to $1.04 billion, compared with analysts' average estimate of $1.05 billion. Still, Brown-Forman reaffirmed its annual target of organic net sales growth between 5% and 7% and said it expects demand trends to normalize after two years of strong growth.

Persons: Jack Daniel's, Martinne Geller, Brown, Forman, BFb.N, Jack, Juveria Tabassum, Pooja Desai Organizations: REUTERS, Reserve, U.S, Thomson Locations: Lynchburg , Tennessee, United States, U.S

☆ US embassy in Haiti urges citizens to leave country 'as soon as possible'
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

Men run next to burning tires during a protest demanding an end to gang violence, in Port-au-Prince, Haiti, August 14, 2023. REUTERS/Ralph Tedy Erol/File Photo Acquire Licensing RightsAug 30 (Reuters) - The U.S. Embassy in Haiti on Wednesday urged citizens in the Caribbean country to leave "as soon as possible" citing security and infrastructure challenges, as escalating violence has left thousands displaced and sent homicides soaring. "U.S. citizens in Haiti should depart Haiti as soon as possible via commercial or private transport," the embassy said in a statement, urging extreme caution. Earlier this month, the U.S. Embassy in the capital Port-au-Prince temporarily closed, due to gunfire in the vicinity. Reporting by Brendan O'Boyle and Jasper Ward; Editing by Isabel Woodford and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Ralph Tedy Erol, Brendan O'Boyle, Jasper Ward, Isabel Woodford, Bill Berkrot Organizations: REUTERS, U.S, Embassy, Wednesday, United Nations, Thomson Locations: Port, Prince, Haiti, Caribbean, Jasper

☆ Intel to invest $1.2 bln in Costa Rica over next two years
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: 1 min

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSAN JOSE, Aug 30 (Reuters) - Intel (INTC.O) will invest $1.2 billion in Costa Rica over the next two years, the company said in a press release on Wednesday. The announcement comes after the U.S. State Department said in July that it would partner with Costa Rica's government to support the Costa Rican semiconductor sector through the 2022 Chips and Science Act. Reporting by Alvaro Murillo; Writing by Brendan O'Boyle; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Costa, Alvaro Murillo, Brendan O'Boyle, Isabel Woodford Organizations: REUTERS, JOSE, Intel, U.S . State Department, Costa, Science, Thomson Locations: Costa Rica, Costa Rican

☆ Jack Daniel's maker Brown-Forman reports lagging whiskey sales, narrower profit
▼ + stars: | 2023-08-30 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Jack Daniel's maker Brown-Forman on Wednesday fell short of Wall Street expectations for its first quarter of fiscal 2024, plagued by lagging whiskey sales, supply challenges and a significant inventory rebuild. Net sales for whiskey products decreased by 1%, led by the brands Woodford Reserve and Gentleman Jack. Sales for Jack Daniel's Tennessee Whiskey were flat, the company said, due to lower distributor inventories across the United States. Its New Mix RTD beverages delivered strong net sales growth of 52%, while its el Jimador tequila brand saw net sales grow by 27%. Reported advertising expense grew 19%, driven by the launch of its Jack Daniel's & Coca-Cola RTD item, increased investment in Jack Daniel's Tennessee Whiskey, and acquisitions.

Persons: Jack Daniel's, Brown, Forman, Jack, Jack Daniel's Tennessee, Lawson Whiting, Whiting, —, Robert Hum Organizations: Woodford Reserve, Jack Daniel's Tennessee Whiskey Locations: United States, Kentucky, U.S

☆ Peru slashes growth outlook amid falling copper investment
▼ + stars: | 2023-08-29 | by ( Marco Aquino | ) www.reuters.com time to read: +3 min

LIMA, Aug 29 (Reuters) - Peru lowered its economic growth forecasts for 2023 and 2024 on Tuesday amid poor weather, lower private investment in mining, and anti-government protests earlier this year. The South American country's economy is expected to grow 1.1% this year, the economy ministry said in Peru's official gazette. Next year, Peru's economy is expected to grow 3.0%, the ministry added, down from a previous estimate of 3.4%. That makes El Nino the largest immediate threat to Peru's economy, the government said. Meanwhile, Peru's estimated current account deficit was lowered to 1.6% of GDP, down from the 2.1% of GDP previously expected.

Persons: LIMA, El, Peru's, Alex Contreras, Marco Aquino, Kylie Madry, Isabel Woodford, David Holmes, Alistair Bell, Bill Berkrot Organizations: Peruvian Fiscal, El, El Nino, Finance, year's, U.S, Thomson Locations: Peru

☆ Google Cloud to open office in El Salvador in seven-year partnership
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: 1 min

A screen with a Google Cloud logo is pictured during Google's presentation of a detailed investment plan for Germany outside the Google office in Berlin, Germany, August 31, 2021. REUTERS/Annegret Hilse Acquire Licensing RightsSAN SALVADOR, Aug 29 (Reuters) - Google Cloud and the government of El Salvador announced a multi-year agreement on Tuesday that will establish an office and deliver Google Distributed Cloud services in the Central American country, Google Cloud said in a statement. The seven-year strategic partnership, pending legislative approval, will focus on the areas of digital government, healthcare and education. Reporting by Nelson Renteria; Writing by Brendan O'Boyle; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Annegret, Google Cloud, Nelson Renteria, Brendan O'Boyle, Isabel Woodford Organizations: REUTERS, SALVADOR, Google, El, Central, Thomson Locations: Germany, Berlin, El Salvador, Central American

☆ Guatemala president vows 'orderly' power transition following election
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Guatemalan President-elect Bernardo Arevalo attends a press conference after prosecutors ordered a temporary suspension of Semilla party's legal registration, in Guatemala City, Guatemala August 28, 2023. REUTERS/Cristina Chiquin Acquire Licensing RightsGUATEMALA CITY, Aug 29 (Reuters) - Guatemala President Alejandro Giammattei said on Tuesday the path was set for an "orderly and transparent transition" of power following the presidential election, after a new bid to suspend the winning party sowed fresh doubts. Giammattei added he would meet with President-elect Bernardo Arevalo, who was swept to victory vowing to tackle corruption, on Sept. 4. "The doors are now open towards an orderly, transparent, and above all, efficient government transition," said Giammattei, speaking in a video message published online. Giammattei's statement came after a document from the citizens registry ordering a temporary suspension of Arevalo's Semilla party's legal registration caused new confusion over the election results.

Persons: Bernardo Arevalo, Cristina Chiquin, Alejandro Giammattei, Giammattei, Arevalo, Antony Blinken, Sofia Menchu, Isabel Woodford, Cassandra Garrison, Chris Reese Organizations: REUTERS, GUATEMALA CITY, of American States, Thomson Locations: Guatemala City, Guatemala, GUATEMALA, States, Arevalo

☆ Guatemala president vows "orderly" power transition following election
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Guatemalan President-elect Bernardo Arevalo attends a press conference after prosecutors ordered a temporary suspension of Semilla party's legal registration, in Guatemala City, Guatemala August 28, 2023. REUTERS/Cristina Chiquin Acquire Licensing RightsGUATEMALA CITY, Aug 29 (Reuters) - Guatemala President Alejandro Giammattei said Tuesday the path was set for an "orderly and transparent transition" of power following the presidential election, after a new bid to suspend the winning party sowed fresh doubts. Giammattei added that he would meet with President-elect Bernardo Arevalo, who was swept to victory vowing to tackle corruption, on September 4. "The doors are now open towards an orderly, transparent, and above all, efficient government transition," said Giammattei, speaking in a video message published online. Giammattei's statement came after a document from the citizens registry ordering a temporary suspension of Arevalo's Semilla party's legal registration caused new confusion over the election results.

Persons: Bernardo Arevalo, Cristina Chiquin, Alejandro Giammattei, Giammattei, Arevalo, Sofia Menchu, Isabel Woodford, Cassandra Garrison Organizations: REUTERS, GUATEMALA CITY, of American States, Thomson Locations: Guatemala City, Guatemala, GUATEMALA, Arevalo

☆ What happens in Jackson Hole doesn’t stay in Jackson Hole
▼ + stars: | 2023-08-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

New York CNN —Most of the year, people visit Jackson Hole, Wyoming, to ski, fly fish or simply enjoy the region’s vast natural beauty. Setting the stage: the economic backdropInflation has slowed significantly since last year’s Jackson Hole conference, alongside glimmers of a cooling labor market. A look back at past Jackson Hole conferencesLast year’s Jackson Hole conference was notable not just because it was the first time in two years that economists gathered in person. Months after Bernanke’s Jackson Hole speech, he unveiled a whole new phase of bond-purchasing in what has now become known as QE2. A columnist for the Financial Times went so far as to say that Draghi “certainly stole the show this year [at Jackson Hole].”No matter what comes out of the conference this year, it’s clear that what happens in Jackson Hole doesn’t stay in Jackson Hole.

Persons: Jackson, Jerome Powell, He’ll, Michael Cahill, Goldman Sachs, Powell, —, Ben Bernanke, ”, Cahill, “, Bernanke’s Jackson, Bernanke, Janet Yellen, “ it’s, ” Cahill, Michael Woodford, John Williams, Williams, European Central Bank Mario Draghi Organizations: New, New York CNN, Federal, Kansas City Fed, Jackson, Fed, Traders, Goldman, CNN, Columbia University, ” New York Fed, San Francisco Fed, European Central Bank, ECB, Financial Times Locations: New York, , Wyoming, Woodstock, Jackson

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