DIRS.INFO The most relevant business & tech news

SAO SEBASTIAO, Brazil, Feb 20 (Reuters) - The death toll from devastating rainfall in southeastern Brazil rose to 40 on Monday, official figures showed, as President Luiz Inacio Lula da Silva visited the region and said homes should no longer be built in areas at risk of landslides and major floods. Lula flew over the coastal town of Sao Sebastiao alongside Cabinet ministers and pledged to help rebuild the town of some 91,000 people by constructing new houses in safer places. "Sometimes nature takes us by surprise, but sometimes we also tempt nature," Lula said in a speech after meeting with Sao Paulo Governor Tarcisio de Freitas and Sao Sebastiao Mayor Felipe Augusto to coordinate their response to the disaster. "I express my solidarity with the people of Sao Sebastiao and I hope this never happens again." [1/4] Landslides are seen after severe rainfall in Sao Sebastiao, Brazil, February 20, 2023.

☆ We want year-on-year inflation to be lower than 4% by year-end: Philippine central bank chief
▼ + stars: | 2023-02-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe want year-on-year inflation to be lower than 4% by year-end: Philippine central bank chiefFelipe Medalla, governor of the Bangko Sentral ng Pilipinas, says inflation remains the "primary concern."

Hidalgo, just outside Mexico City, is hundreds of miles from the border yet land and labor costs are lower. The United States and Canada have formally entered a trade dispute over Mexico's energy policy. It remains unclear exactly what Tesla's investment in Mexico will look like and what the company plans to produce in the country. Yet Mexico's capacity for a nearshoring boom has been held back by Lopez Obrador, particularly his energy policies, analysts said. Reporting by Diego Ore and Daina Beth Solomonin Mexico City Additional reporting by Kylie Madry in Mexico City Editing by Stephen Eisenhammer and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Ex-Mexico drug czar helped Sinaloa cartel's 'cocaine empire,' U.S. prosecutor says
▼ + stars: | 2023-02-15 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

REUTERS/Jane RosenbergNEW YORK, Feb 15 (Reuters) - A former Mexican law enforcement official once in charge of the country's battle against drug trafficking helped the Sinaloa cartel build a "global cocaine empire" in exchange for millions of dollars in bribes, a U.S. prosecutor said on Wednesday. "These leaders paid the defendant bribes for protection - and they got what they paid for," Komatireddy said, referring to Guzman and two other top-ranking Sinaloa cartel figures. Garcia Luna, she said, "used his official government position to make millions of dollars for himself from the people he was supposed to prosecute." Garcia Luna, one of the highest-ranking Mexican officials ever accused of helping drug cartels, led Mexico's Federal Investigation Agency from 2001 to 2005 and was public security minister from 2006 to 2012. Guzman was sentenced to life in prison in 2019 following his conviction in Brooklyn on drug trafficking and murder conspiracy charges.

☆ Retail CEO crisis: With recent shakeups at Kohl's, Adidas, Dollar General, and more, the industry's top job is suddenly the hardest to fill
▼ + stars: | 2023-02-11 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com time to read: +8 min

It's the surest sign yet of a crisis facing the retail industry. Supply chains got snarled, shoppers stopped visiting stores, and stimulus payments spiked demand, each making it difficult to measure how business was doing. Then stimulus payments sent demand for everything from sneakers to home goods spiking while supply chains snarled. And just when supply chains started to sort themselves out, inflation hit, and shoppers started to scale back spending. Retail CEOs need 'peripheral vision'Workers at Starbucks stores and Amazon warehouses across the country have pushed to unionize, with many calling out the pay disparity between front-line workers and top executives.

Summary Jan CPI at fresh 14-year high of 8.7%Faster-than-expected inflation raises odds of bigger rate hikeEconomic planning chief says inflation to moderate this yearMANILA, Feb 7 (Reuters) - Philippine annual inflation blew past expectations in January to reach a fresh 14-year high on surging food prices, raising the chance of the central bank delivering a bigger interest rate hike to tame prices when it meets this month. Given the faster-than-expected inflation in January, Bangko Sentral ng Pilipinas (BSP) looks certain to hike interest rates by at least 25 basis points and with a bigger 50 bps likely to be on the table, ING economist Nicholas Mapa said in a Tweet. The Philippines' broader stock index (.PSI) dropped 0.4% in early trade on expectations of a larger rate hike, while the peso had slipped 0.5% at 54.73 per dollar as of 0211 GMT. The main factor behind January's red-hot inflation was the 11.2% annual rise in food inflation, the quickest pace since 2009, and compared to the previous month's 10.6%, and the 1.6% rate in the same month last year. Elevated inflation, plus the need to maintain interest rate differentials between the U.S. and the Philippines, have forced the central bank to embark on aggressive tightening, with the benchmark rate (PHCBIR=ECI) rising by a total of 350 bps last year.

☆ Cargo airlines have until July to move flights from Mexico's capital airport
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Feb 2 (Reuters) - Cargo airlines operating out of Mexico's busiest airport will have until July to leave the hub, a decree published in the country's national gazette Thursday evening said. The decree comes from President Andres Manuel Lopez Obrador, who has said he would have cargo flights moved due to lack of space at the Benito Juarez International Airport in Mexico City. Around 3% of flights at the airport in 2022 were for cargo, according to flight data. The closest airport is the Felipe Angeles International Airport on the northern outskirts of the city, one of Lopez Obrador's flagship public works projects opened last March. The decree will still allow flights carrying both cargo and passengers to operate out of the Benito Juarez airport.

☆ Philippines central bank to focus on inflation at next policy meeting -governor
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: 1 min

MANILA, Feb 4 (Reuters) - The Philippine central bank will focus on inflation rather than the Federal Reserve's recent policy action when it meets on Feb. 16 to review key interest rates, its governor said on Saturday. "Next meeting will focus on inflationary expectations in PH, not the Fed's 25 bps rate increase," Bangko Sentral ng Pilipinas Governor Felipe Medalla told reporters in a phone message. Philippine inflation was likely to be within a range of 7.5% to 8.3% in January, the central bank said on Tuesday, following the 8.1% rate in December, which was a 14-year high. The statistics agency will release inflation data on Feb. 7. Reporting by Karen Lema Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico reaches deal with airlines on cargo transfer to new airport, president says
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Feb 1 (Reuters) - The Mexican government and some airlines have reached an agreement to move cargo operations to a new airport on the outskirts of Mexico City to ease congestion at its main hub, President Andres Manuel Lopez Obrador said on Wednesday. Lopez Obrador said earlier this month cargo flights would be moved due to lack of space at the Benito Juarez International Airport. Around 3% of flights at the airport last year were for cargo, according to flight data. Lopez Obrador said cargo operations will be transferred to the new airport in about four months. The first cargo plane will arrive at the Felipe Angeles International Airport the third week of February, Lopez Obrador said.

☆ Former Brazilian President Bolsonaro Seeks to Remain in the U.S. Longer
▼ + stars: | 2023-01-31 | by ( Michelle Hackman | ) www.wsj.com time to read: 1 min

Former Brazil President Jair Bolsonaro, center, outside a vacation home where he is staying near Orlando, Fla., on Jan. 4. Former Brazilian President Jair Bolsonaro , who narrowly lost re-election last year and has been vacationing in Florida since the beginning of this month, has applied for a tourist visa to prolong his stay in the U.S.Mr. Bolsonaro’s immigration lawyer, Felipe Alexandre, confirmed the former president’s intention to remain in the U.S. at least temporarily. He said the U.S. government received Mr. Bolsonaro’s application for a six-month tourist visa on Jan. 27 and it should provide an answer within several months.

MEXICO CITY, Jan 31 (Reuters) - Electric carmaker Tesla Inc (TSLA.O) is considering setting up an assembly plant near a new Mexico City airport, which would serve as an export hub for the firm, Mexican presidential spokesman Jesus Ramirez said. "Tesla will invest there ... in an assembly plant, to export directly by air," Ramirez told the newspaper. Separately, a Mexican official told Reuters that Tesla had been shown the site, but had given no indication of its plans. Ramirez told El Heraldo de Mexico that Tesla was aiming to invest in the T-MexPark, a major industrial park being built close to the Felipe Angeles airport. Reporting by Diego Ore; Editing by David Gregorio Additional reporting by Raul Cortes Fernandez and Dave Graham in Mexico City, and Hyunjoo Jin in San FranciscoOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Jair Bolsonaro applies for 6-month U.S. visitor visa
▼ + stars: | 2023-01-31 | by ( ) www.cnbc.com time to read: +2 min

Former Brazilian President Jair Bolsonaro has filed a request for a six-month visitor visa to stay in the U.S., indicating he may have no immediate intention of returning home, where legal issues await. The application was first reported by The Financial Times, citing Bolsonaro's immigration lawyer, Felipe Alexandre. Bolsonaro left Brazil for Florida on Dec. 30, two days before the inauguration of his leftist rival, Luiz Inácio Lula da Silva. It has been widely assumed — though not confirmed — that Bolsonaro entered the U.S. on an A-1 visa reserved for sitting heads of state. The processes will continue, but maybe he thinks he can at least avoid some sort of revenge punishment."

☆ Ronaldo's Saudi switch another symbol of Chinese decline
▼ + stars: | 2023-01-29 | by ( Michael Church | ) www.reuters.com time to read: +3 min

The Portuguese striker's Saudi Arabia switch following the cancellation of his Manchester United contract has highlighted a shift within Asian football that started before the COVID-19 pandemic and which continues to have a significant impact. With money pouring into clubs often owned by debt-fuelled property developers, the Chinese Super League (CSL) had been enticing an increasing number of leading players and coaches to the country since early last decade. The downturn in Chinese football has spared few. Two-time Asian champions Guangzhou FC, once Chinese football's dominant force, went into decline after their owners, developers China Evergrande, were forced to limit funding after the government restricted borrowing. With attention now squarely focused on the oil-funded riches on offer in a newly assertive Saudi Arabia, Chinese football's lustre has all but disappeared.

☆ Ecopetrol says CEO Bayon to leave his post on March 31
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, Jan 26 (Reuters) - Colombian majority-state-owned energy company Ecopetrol (ECO.CN) on Thursday said Chief Executive Felipe Bayon will leave his post on March 31, following more than five years in the position. Choosing Bayon's replacement will involve a rigorous selection process by the company's board of directors, the company said in a statement. "Ecopetrol expresses its gratitude to Felipe Bayon for his management and wishes him success in his new professional projects," Ecopetrol said. According to his Linkedin, Bayon spent just over 20 years at London-listed oil giant BP before joining Ecopetrol in 2016 as executive vice president and chief operating officer. He took on the mantle of chief executive a year later and steered the company through the coronavirus pandemic and celebrated surging profits as oil prices recovered.

[1/2] Construction of new buildings alongside older establishments is seen within the business district in Makati City, metro Manila, Philippines January 25, 2017. "We are confident that we will remain in our high growth trajectory," Baliscan told a media briefing on Thursday. On a quarter-on-quarter basis, GDP growth came in at 2.4% in October-December, compared with expectations for a 1.5% rise and the previous quarter's upwardly revised 3.3% expansion. Like the rest of the world, the Philippines is battling red-hot inflation, currently running at 14-year highs, which if not tamed could crimp domestic consumption, a major driver of growth. "We expect a difficult year ahead for the Philippines," Capital Economics said in a note, citing the impact of high inflation and tighter monetary policy on domestic spending.

☆ Bank of America announced a new class of managing directors — here are all 87 names in corporate and investment banking
▼ + stars: | 2023-01-26 | by ( Alex Morrell | ) www.businessinsider.com time to read: +3 min

Bank of America has announced a new class of 360 managing directors. Insider has the list of the 87 new MDs for the firm's Global Corporate and Investment Bank. It's managing director promotion day at Bank of America. On Thursday, the class of 360 managing directors across the firm were announced internally, up 15% from the 314 promoted in 2022.Insider has the list of the 87 employees who were promoted in the firm's Global Corporate and Investment Bank — the division responsible for dealmaking. That's down 17% from 105 new MDs last year in the division, likely a reflection of a difficult year in investment banking across Wall Street that saw revenues drop in excess of 50%.

☆ Mexico’s Former Top Cop Goes on Trial in New York for Alleged Aid to Drug Cartel
▼ + stars: | 2023-01-23 | by ( James Fanelli | José De Córdoba | ) www.wsj.com time to read: 1 min

Mexico’s former top law-enforcement official is set to go on trial Monday in a Brooklyn federal court, accused of helping one of the world’s most powerful drug cartels smuggle over 50 tons of cocaine into the U.S. in exchange for tens of millions of dollars in bribes. Genaro García Luna , 54, headed Mexico’s federal investigation agency and served as the country’s minister for public security from 2006 to 2012 under then-president Felipe Calderón .

Federal prosecutors in Brooklyn say Garcia Luna gave the Sinaloa Cartel sensitive information about its rivals as well as safe passage for drug shipments. Garcia Luna has previously accused drug traffickers of leveling false allegations against him as revenge for the actions he took against cartels. Guzman was sentenced to life in prison in 2019 following his conviction in Brooklyn on drug trafficking and murder conspiracy charges. Mexico's government in 2020 issued an arrest warrant of its own for Garcia Luna on charges of illegal enrichment. Mexico also sued Garcia Luna in Florida, where he had been living before his 2019 arrest, in an effort to recover what it called illegally obtained assets.

☆ Retail CEO crisis: why the industry's top job is suddenly the hardest to fill
▼ + stars: | 2023-01-23 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com time to read: +8 min

☆ Mexican president defends bid to move cargo from longstanding hub to new airport
▼ + stars: | 2023-01-19 | by ( Kylie Madry | ) www.reuters.com time to read: +2 min

"An agreement is being reached between the directors of the two airports, with customs, with everyone," Lopez Obrador said in a regular news conference. The draft decree, which was sent by the president and published on a government regulatory body's website, would halt all cargo flights out of the Benito Juarez International Airport, the busiest airport in the country. Lopez Obrador said the government was not seeking to make the change "by force" and that it was looking to have buy-in from cargo operators. Lopez Obrador said cargo flights would be moved due to lack of space at the hub. Experts, however, warn that moving cargo flights to the facility could snarl supply chains.

☆ Venezuelans describe dangers and desperation amid U.S. asylum changes
▼ + stars: | 2023-01-18 | by ( Albinson Linares | Noticias Telemundo | ) www.nbcnews.com time to read: +11 min

MEXICO CITY — Mariantonela Orellana spent nine days in the dangerous Darien Gap jungle in the Colombia-Panama border, and she described her nightmarish ordeal. Now back in Mexico, migrants wrestle with whether to try to stay in Mexico, keep trying to seek asylum in the U.S. or return to Venezuela. According to Department of Homeland Security data, the flow of Venezuelan migrants to the U.S. increased by almost four times compared to the year prior. Mexican authorities approved 61% of asylum applications from January to November, including at least 90% of approvals for Hondurans and Venezuelans. “I left Venezuela because the discrimination against the LGBT community is terrible; we are trampled on and attacked every day.

☆ Italy’s Friuli region is one of Europe’s best kept secrets
▼ + stars: | 2023-01-18 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +10 min

With 13 natural reserves and the pristine park of the Friuli Dolomite Mountains, the region lures tourists seeking to connect with nature or explore the outdoors. There’s also the spellbinding Grotta Gigante, or Giant Cave, one of the world’s largest tourist caverns. Golden beachesThe Grotta Gigante is one of the world's largest tourist caverns. Trieste boasts an unusual segregated beach, with origins dating back several centuries. “Residents are very fond and proud of this place,” says Trieste local Maria Bonacci.

DAVOS, Switzerland/MANILA, Jan 18 (Reuters) - Philippines President Ferdinand Marcos Jr said his country would resist global recessionary headwinds, but warned that increasing tensions in the South China Sea were harming trade. "My belief is that as long as the unemployment rate stays low, we will be able to resist the recessionary forces," he said. He said the upskilling of his country's labour force was powering economic growth, including remittances from overseas workers. "The future of the region has to be decided by the region, not outside powers," he said. Marcos was in Davos, Switzerland this week for the World Economic Forum, accompanied by his economic team and several Philippine business executives.

If your car is broken into, comprehensive and full coverage car insurance will cover damage or theft of the car. Car insurance, renters insurance, and homeowners insurance all come into play. Comprehensive car insurance covers theft from break-insThere are three main types of car insurance: comprehensive, collision, and liability. Steps to file a claim for car theft or break-insIf personal items are stolen from your car, comprehensive coverage car insurance, full coverage car insurance, and homeowners or renters insurance will cover your personal belongings. If your car itself has been stolen, you will need comprehensive or full coverage car insurance.

☆ Colombia arrests two more suspects in Paraguayan prosecutor's murder
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

Courtesy of Colombian Attorney/Handout via REUTERSBOGOTA, Jan 15 (Reuters) - Two more people suspected of participating in the May murder of a Paraguayan prosecutor have been arrested, the Colombian prosecutor's office said on Sunday. Prosecutor Marcelo Pecci, 45, known for fighting organized crime, was shot dead on the island of Baru near the Caribbean city of Cartagena while honeymooning with his wife. In the latest arrests, brothers Andres Perez and Ramon Perez are accused of arranging the logistics behind the murder, including hiring hitmen, who they planned to pay large sums of money, the prosecutor's office said in a statement. Attorneys for the Perez brothers could not be reached for comment. Officials seized documents, clothing and a car that had been used during the planning of the murder, the prosecutor's office added in a statement.

Search resuls for: "Felipe"

25 mentions found