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[1/2] The Titan submersible, operated by OceanGate Expeditions to explore the wreckage of the sunken Titanic off the coast of Newfoundland, dives in an undated photograph. Robotic undersea search operations were diverted to the area where the sounds seemed to originate, but there was still no tangible sign of the missing vessel, the Coast Guard said on Twitter. ROBOTIC SEARCH REDIRECTEDThe search effort included Lockheed P-3 Orion turboprop airplanes designed with sub-surface surveillance gear to detect submarines, Frederick said. The Coast Guard did not detail the nature or extent of the sounds. Titanic expert Tim Matlin said it would be "almost impossible to effect a sub-to-sub rescue" on the seabed.

Persons: Jamie Frederick, Hamish Harding, Shahzada Dawood, Suleman, Paul, Henri Nargeolet, Frederick said, Canada's, Stone, Alistair Greig, Tim Matlin, Steve Gorman, Joseph Ax, Brendan O'Brien, Natalie Thomas, Aiden Nulty, Kanishka Singh, Ismail Shakil, Steve Scherer, Steve Holland, Daniel Trotta, Brad Brooks, Ariba Shahid, Raju Gopalakrishnan Organizations: OceanGate Expeditions, U.S . Coast Guard, Canadian, Coast Guard, Twitter, U.S, Expeditions, British, Reuters, U.S . Navy, Atlantic, Stockton Rush, Authorities, Lockheed, Orion, CNN, Stone, University College London, Thomson Locations: Newfoundland, Canada, France, U.S, Connecticut, Cape Cod , Massachusetts, St, John's, French

TEGUCIGALPA, Honduras, June 21 (Reuters) - The death toll from a riot at a women's prison in Honduras rose to 46, a government spokesperson said on Wednesday, as anxious relatives demanded information about the fate of incarcerated family members. Relatives of inmates gathered at the Centro Femenino de Adaptacion Social, the 900-person women's penitentiary around 20 kilometers (12 miles) from the capital city Tegucigalpa, where gang violence erupted a day earlier. Identifying victims is a challenge, as many of which were "charred or reduced" to ash, according to Yuri Mora, spokesperson for the public prosecutor's office. The riot had been planned by gang members with guards' knowledge, Honduran President Xiomara Castro said on Twitter on Tuesday, saying she would take "drastic measures" to address the deaths. [1/5]Security forces operate outside the Centro Femenino de Adaptacion Social (CEFAS) women prison following a deadly riot in Tamara, on the outskirts of Tegucigalpa, Honduras, June 20, 2023.

Persons: Yuri Mora, Xiomara Castro, Angel Garcia, Fredy Rodriguez, Garcia, Mara Salvatrucha, Miguel Martinez, Julissa Villanueva, El, Gustavo Palencia, Brendan O'Boyle, Valentine Hillaire, Daina Beth Solomon, Alistair Bell Organizations: Centro Femenino de, Twitter, Security, REUTERS, Central America, Thomson Locations: TEGUCIGALPA, Honduras, Tegucigalpa, Tamara, Los Angeles, Central, El Salvador

☆ Mexico asks Israel for second time to extradite ex-official accused of torture
▼ + stars: | 2023-06-20 | by ( Brendan O'Boyle | ) www.reuters.com time to read: +1 min

MEXICO CITY, June 20 (Reuters) - Mexico's president said on Tuesday that he had asked Israel for a second time to extradite a former official accused of torture in the Latin American country. Zeron led the heavily criticized investigation into the disappearance of 43 student teachers in southwestern Mexico in 2014 under a government to which Lopez Obrador was opposed. "It can't be that Israel protects a torturer under any circumstance," Lopez Obrador said in a regular press conference. Lopez Obrador, who made a similar extradition request in September 2021, said he expected Mexico's Jewish community to support the effort to extradite Zeron. Reporting by Brendan O'Boyle in Mexico City Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Israel, Andres Manuel Lopez Obrador, Benjamin Netanyahu, extraditing Tomas Zeron, Zeron, Lopez Obrador, Lopez Obrador's, Brendan O'Boyle, Matthew Lewis Organizations: MEXICO CITY, Thomson Locations: MEXICO, Mexico, Israel

☆ Stifling heat wave to grip U.S. South over holiday weekend
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

[1/2] People purchase ice during a heatwave with expected temperatures of 102 F (39 C) in Dallas, Texas, U.S. June 12, 2022. Some 35 million people in southern Texas, Louisiana and Florida were under excessive heat warnings, watches and advisories from Thursday through the three-day Juneteenth weekend, the National Weather Service said. The growing frequency and intensity of severe weather across the U.S. is symptomatic of human-driven climate change, climate scientists say. New Orleans residents woke up to a brutal 96-degree heat index, the weather service said in a tweet. Reporting by Brendan O'Brien in Chicago; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Shelby Tauber, RyDavis, Brendan O'Brien, Jonathan Oatis Organizations: REUTERS, U.S, National Weather Service, Reliability, of Texas, Thomson Locations: Dallas , Texas, U.S, Texas, Florida, Texas , Louisiana, Austin, Louisiana, New Orleans, Miami, Chicago

[1/5] A woman holds an umbrella during a period of high temperatures in Mexico City, Mexico June 13, 2023. REUTERS/Henry RomeroMEXICO CITY/MONTERREY, Mexico, June 15 (Reuters) - Mexican authorities urged people across the country to take safety precautions on Thursday as an unusual late Spring heat wave sent temperatures soaring, with cooler days possibly weeks away. said Abigail Lopez, a nurse in normally sunny but temperate Mexico City who said she was drinking more water and wearing lighter clothes to try to beat the heat. In Mexico City, children splashed around in public fountains and commuters shielded themselves from the sun with umbrellas. "In the last 20 years, we haven't had such a long heat wave," he said.

Persons: Henry Romero MEXICO, Abigail Lopez, Roberto Cardenas, Erik Cavazos, haven't, Brendan O'Boyle, Daniel Becerril, Alberto Fajardo, David Alire Garcia, Sandra Maler Organizations: REUTERS, Henry Romero MEXICO CITY, of Atmospheric Sciences, National Autonomous University, Nuevo, Thomson Locations: Mexico City, Mexico, MONTERREY, Monterrey, Nuevo Leon

☆ Archaeologists in Peru find 3,000 year-old mummy in Lima
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

[1/5] The remains of a mummy, believed to be from the Manchay culture which developed in the valleys of Lima between 1,500 and 1,000 BCE, are pictured at the excavation site of a pre-Hispanic burial, in Lima, Peru June 14, 2023. REUTERS/Anthony MarinaLIMA, June 14 (Reuters) - Peruvian archaeologists have discovered an approximately 3,000-year-old mummy in Lima, they said on Wednesday, the latest discovery in the Andean nation dating to pre-Hispanic times. Students from San Marcos University and researchers initially found remains of the mummy's hair and skull in a cotton bundle during excavation, before uncovering the rest of the mummy. The mummy was probably from the Manchay culture, which developed in the valleys of Lima between 1500 and 1000 BC, archaeologist Miguel Aguilar said, and was associated with the construction of temples built in a U-shape that pointed toward the sunrise. The person "had been left or offered (as a sacrifice) during the last phase of the construction of this temple," Aguilar said.

Persons: Anthony Marina LIMA, Miguel Aguilar, " Aguilar, Enrique Mandujano, Anthony Marina, Alfredo Galarza, Carolina Pulice, Brendan O'Boyle, Leslie Adler Organizations: REUTERS, San Marcos University, Thomson Locations: Lima, Lima , Peru

☆ Guatemala court sentences journalist to 6 years in prison for money laundering
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +2 min

GUATEMALA CITY, June 14 (Reuters) - A Guatemalan court on Wednesday sentenced Jose Zamora, a well-known journalist whose work has criticized successive governments, to six years in prison for money laundering in a case rights groups have branded an attack on free speech. Zamora was also issued a 300,000 quetzal ($38,339) fine, the court said. He was arrested in July last year during a crackdown on prosecutors, judges, human rights activists, journalists and opposition officials. According to the attorney general's office, Zamora allegedly received $38,461 to finance his media outlet, which was not regularly deposited into the banking system. The rights group is "very concerned" that Guatemala's prosecutors' office is investigating journalists and columnists from elPeriodico who covered Zamora's case, Goebertus added.

Persons: Jose Zamora, Zamora, Alejandro Giammattei, Juanita Goebertus, Goebertus, Sofia Menchu, Sarah Morland, Brendan O'Boyle, Bill Berkrot Organizations: GUATEMALA CITY, elPeriodico, Rights, Thomson Locations: GUATEMALA, Zamora's, Guatemala, Americas

☆ Illinois becomes first state to pass law curtailing book bans
▼ + stars: | 2023-06-13 | by ( Brendan O'Brien | ) www.reuters.com time to read: +4 min

Illinois Governor J.B. Pritzker, a Democrat, signed the historic measure into law on Monday in a Chicago library. The law goes into effect on Jan. 1, 2024, the governor's office said in a statement. "Here in Illinois, we don't hide from the truth, we embrace it," Pritzker said. Under the new law, Illinois public libraries can only access state grants if they adopt the American Library Association's Library Bill of Rights, which stipulates that "materials should not be proscribed or removed because of partisan or doctrinal disapproval." Other states may choose to embrace prejudice and divisive ideologies, but our state is going in a better direction," said Democratic State Representative Anne Stava-Murray, who represents Downers Grove, in support of the Illinois measure.

Persons: J.B, Pritzker, shouldn't, Laura Hois, We're, Representative Anne Stava, Murray, Maia Kobabe, Toni Morrison, Amanda Gorman, Joe Biden's, Brendan O'Brien, Aurora Ellis Organizations: Illinois, American, Association's, Republican, PEN America, American Library Association, ALA, ABC, Democratic, Representative, Downers, Thomson Locations: Illinois, United States, Chicago, U.S, Florida, Texas, Downers Grove, Utah , Missouri, Miami, Dade County

☆ Mexico City mayor to step down to pursue historic bid for presidency
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +3 min

[1/3] Outgoing Mexico City Mayor Claudia Sheinbaum, one of the leading candidates for the presidential nomination of the ruling MORENA party, gestures during a press conference in Mexico City, Mexico June 12, 2023. REUTERS/Raquel CunhaMEXICO CITY, June 12 (Reuters) - Mexico City Mayor Claudia Sheinbaum said she will step down on Friday to pursue the ruling party's candidacy for the 2024 presidential election, bidding to become the country's first female leader. President Andres Manuel Lopez Obrador's leftist National Regeneration Movement (MORENA) on Sunday agreed that on Sept. 6 it would announce the winner of its internal selection process. MORENA is heavily favored to win the June 2024 presidential election, lifted by Lopez Obrador's personal popularity. Reporting by Dave Graham in Mexico City; Writing by Sarah Morland and Brendan O'Boyle; Editing by Matthew Lewis and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Mexico City Mayor Claudia Sheinbaum, Raquel Cunha MEXICO, Andres Manuel Lopez Obrador's, MORENA, Lopez, Lopez Obrador, Sheinbaum, Marcelo Ebrard, Ebrard, Adan Augusto Lopez, Dave Graham, Sarah Morland, Brendan O'Boyle, Matthew Lewis, Leslie Adler Organizations: Mexico City Mayor, REUTERS, Raquel Cunha MEXICO CITY, Regeneration, Sunday, Reuters, Interior, Thomson Locations: Mexico, Mexico City, China, United States

☆ A gamma-ray explosion that was so bright it blinded scientists' equipment is even weirder than first thought
▼ + stars: | 2023-06-09 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +7 min

Scientists marveled at the power of the gamma-ray jet, which likely marked the birth of a black hole. Astronomers have since been trying to work out what could have made the gamma-ray burst so bright, and may finally have an answer. Researchers have discovered that the gamma-ray explosion ejected a jet with an unusual structure which dragged a large amount of stellar material along with it. The analysis demonstrates that the most extreme explosions do not obey the standard physics assumed for normal gamma-ray bursts, he said. Still, according to O'Connor, this finding "a massive step forward in our understanding of gamma-ray bursts," the "equivalent Rosetta stone of long GRBs."

Persons: marveled, —, Brendan O'Connor, Levan, Gladys Kober, O'Connor, NASA’s, Alexander van der Horst, Hendrik Van Eerten, Eleonora Troja, it's, Van Eerten Organizations: Service, George Washington University, Hubble, NASA, ESA, CSA, Radboud University, NASA’s Goddard Space, University of Bath, University of Rome

☆ Carmaker Toyota to invest $328 mln in Mexico hybrid pickup plant
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, June 8 (Reuters) - Japanese carmaker Toyota (7203.T) will invest a further $328 million in a plant in the central Mexican state of Guanajuato, it said on Thursday, as it looks to adapt its production processes for a new hybrid model of its Tacoma pickup truck. "The new version of the 'Mexican pickup' will be hybrid electric, which means Guanajuato will now form part of the company's electrification production strategy," Toyota said in a statement. The funds are set to help adapt manufacturing for the new Tacoma model for a North American market, it added. Toyota has invested close to $1.2 billion in Guanajuato since it announced the plant, it added, saying the factory currently provides more than 2,500 jobs. Reporting by Sarah Morland and Kylie Madry; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Diego Sinhue, Tesla, Sarah Morland, Kylie Madry, Brendan O'Boyle Organizations: MEXICO CITY, Toyota, Tacoma, Thomson Locations: MEXICO, Mexican, Guanajuato, American, Japan, Mexico, United States, Nuevo Leon

The FAA downgraded Mexico's aviation safety rating to Category 2 in 2021, citing safety deficiencies and blocking Mexican carriers from adding new U.S. flights. Since Mexico lost the rating, the FAA has conducted a series of audits on the local civil aviation authority and its compliance with international safety standards. Mexican newspaper El Financiero had earlier reported that Mexico had already recovered the safety rating, citing government sources, but a short time later backtracked on the initial report. In the two years since the FAA dropped Mexico to Category 2, the country has revamped its aviation standards, replacing officials and most recently overhauling its civil aviation law. Asked to comment on Mexico's air safety rating, an FAA spokesperson would only say the agency continues "to provide assistance to Mexico's civil aviation authority."

Persons: El Financiero, Andres Conesa, Kylie Madry, Adriana Barrera, Carolina Pulice, Ana Isabel Martinez, Brendan O'Boyle, David Alire Garcia, Diane Craft Organizations: MEXICO CITY, U.S . Federal Aviation Administration, FAA, El, U.S, Thomson Locations: MEXICO, Mexico, United States

☆ Argentina to renew, expand China currency swap line
▼ + stars: | 2023-06-02 | by ( Eliana Raszewski | ) www.reuters.com time to read: +1 min

BUENOS AIRES, June 2 (Reuters) - Argentina has signed a deal to renew and potentially expand its currency swap line with China, the South American country's central bank said in a statement on Friday, a boost to the indebted nation's dwindling foreign currency reserves. The bank said that the two countries had agreed to renew the total 130 billion yuan ($18.36 billion) swap line for three more years, and could double the freely accessible part of the swap from 35 billion yuan now to 70 billion yuan, some $10 billion. "The procedure has begun to increase the usable amount by another 35 billion yuan," Argentina's central bank said following a meeting between officials in Beijing. The country's foreign currency reserves have fallen sharply this year due to a historic drought that slashed grains exports, the main source of dollar revenue, and the peso currency has weakened under the weight of 109% annual inflation. ($1 = 7.0820 Chinese yuan renminbi)Reporting by Eliana Raszewski; Writing by Brendan O'Boyle; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Eliana Raszewski, Brendan O'Boyle, Isabel Woodford Organizations: International Monetary Fund, Thomson Locations: BUENOS AIRES, Argentina, China, Beijing

☆ US National Spelling Bee finalists vie for championship
▼ + stars: | 2023-06-01 | by ( Brendan O'Brien | ) www.reuters.com time to read: +2 min

[1/2] Competitors are adjusted by a person who is off camera as they celebrate moving to the semifinals of the Scripps National Spelling Bee competition in National Harbor, Maryland U.S., May 31, 2023. REUTERS/Leah Millis/File PhotoJune 1 (Reuters) - Eleven of the sharpest young spellers in the U.S. will compete on Thursday in the finals of the 2023 Scripps National Spelling Bee, having survived three early rounds by nailing words like "zwitterion" (a type of molecule) and "polissoir" (a polishing tool). The finalists, who range from 11 to 14 years old, beat out a field of 220 other competitors who participated in the three-day contest, held in National Harbor, Maryland, just outside of Washington, D.C. Scripps Co (SSP.O), the bee's sponsor, plus further monetary prizes and reference works from Encyclopedia Britannica and Merriam-Webster. Last year, Harini Logan, 14, from San Antonio, Texas, correctly spelled 22 words during a 90-second spell-off to claim the top prize.

Persons: Leah Millis, Webster, The Merriam, Aryan Khedkar, Vikrant Chintanaboina, Harini Logan, Brendan O'Brien, Matthew Lewis Organizations: Scripps, Spelling, National Harbor , Maryland U.S, REUTERS, Scripps Co, Encyclopedia, The, Webster, ION, ESPN, Thomson Locations: National Harbor , Maryland, U.S, Washington ,, Encyclopedia Britannica, Merriam, Waterford , Michigan, San Ramon , California, San Antonio , Texas, Chicago

[1/7] Dev Shah, 14, reacts after winning the Scripps National Spelling Bee competition in National Harbor, Maryland U.S., June 1, 2023. REUTERS/Leah MillisJune 1 (Reuters) - Dev Shah, a 14-year-old boy from Largo, Florida, won the 2023 Scripps National Spelling Bee on Thursday, nailing the word "psammophile," meaning an organism that thrives in sandy soils, in the 15th round of the contest's finals. Shah, a student at Morgan Fitzgerald Middle School, had correctly, and swiftly, spelled "bathypitotmeter" in the 14th round, but under spelling bee rules needed to land one more word to be declared winner. Shah, who was crowned champion in a hail of confetti before being joined on stage by his parents and other relatives, takes home $50,000 cash from E.W. Dev, whose hobbies include reading, tennis, playing the cello and solving math problems, tied for 51st place in the 2019 edition of the spelling bee, and tied for 76th place in 2021.

Persons: Dev Shah, Leah Millis, Charlotte Walsh, Shah, Webster, The Merriam, Dev, Harini Logan, Brendan O'Brien, Steve Gorman, Matthew Lewis, Christopher Cushing Organizations: Scripps, Spelling, National Harbor , Maryland U.S, REUTERS, Morgan Fitzgerald Middle School, Scripps Co, Encyclopedia, The, Webster, ION, ESPN, Thomson Locations: National Harbor , Maryland, Largo , Florida, Arlington , Virginia, Encyclopedia Britannica, Merriam, Washington ,, San Antonio , Texas, Chicago, Los Angeles

☆ Raging wildfire empties homes in eastern Canada, pollutes air in US
▼ + stars: | 2023-05-31 | by ( Eric Martyn | ) www.reuters.com time to read: +3 min

The fire, which is about 30 kilometres (19 miles) west of downtown Halifax, has already forced 18,000 people to evacuate their homes. No fatalities have been reported but about 200 homes, structures have been damaged, the CBC reported, citing the Halifax Regional Municipality. Forest fires also led to evacuations of about 400 homes in the province of New Brunswick over the weekend, officials said. "The stories and the images we're seeing coming out of Nova Scotia and New Brunswick are heartbreaking," Prime Minister Justin Trudeau told reporters in Ottawa, pledging federal support for the Atlantic provinces. The Halifax wildfire was expected to cause poor air quality hundreds of miles to the south in parts of the U.S. East Coast and Midwest as smoke drifts across the regions.

Persons: David Steeves, Justin Trudeau, what's, Brendan O'Brien, Ismail Shakil, Sriraj Kalluvila, Marguerita Choy, Deepa Babington Organizations: HALIFAX, U.S, Nova, Nova Scotia Department of Natural Resources, CBC, CBC News, U.S ., National Weather Service, Thomson Locations: Nova Scotia, Halifax, Canadian, Halifax Regional Municipality, New Brunswick, Ottawa, Atlantic, Bedford , Nova Scotia, West Bedford, Alberta, U.S . East Coast, Midwest, Michigan, Ohio, Pennsylvania , New Jersey, New York, Philadelphia, Chicago

David Solomon has been Goldman Sachs' CEO for over four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. Solomon said there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." Meanwhile, Solomon's expensive foray into consumer banking raised the ire of some longtime Goldman partners, as Insider has previously reported. The fresh faces among the Goldman Sachs executives who took the stage at the bank's investor day highlight the leadership changes under Solomon.

☆ El Salvador court sentences ex-President Funes to 14 years in prison
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +2 min

SAN SALVADOR, May 29 (Reuters) - A court in El Salvador sentenced former President Mauricio Funes and his justice minister to over a decade behind bars for their ties with criminal groups and failure to comply with duties, the attorney general's office said in a tweet on Monday. Funes was sentenced to 14 years and former justice and defense minister, David Munguia, to 18. Funes, who governed from 2009 to 2014 and lives in Nicaragua, was granted Nicaraguan citizenship in 2019. El Salvador has been living under a state of emergency declared by the government of President Nayib Bukele for more than a year. Official data shows 5,000 of the prisoners have been released, as authorities found no ties to criminal groups.

☆ Brazil's Haddad argues country is ready for interest rate cuts
▼ + stars: | 2023-05-26 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, May 26 (Reuters) - Brazil Finance Minister Fernando Haddad on Friday said the country is about to enter a downward cycle of interest rates, pointing out that inflation is "more behaved." "We are about to.. have a downward cycle of interest rates. "Long-term interest rates are falling. The monetary authority has held Brazil's benchmark interest rate at 13.75% since September. Central bank chief Roberto Campos Neto has ruled out imminent cuts.

May 22 (Reuters) - The graduate student accused of stabbing four University of Idaho college students to death is expected to appear in court on Monday for his arraignment and to enter a plea on first-degree murder charges. Bryan Kohberger, 28, is scheduled to be appear in a Latah County courtroom for an arraignment hearing in front of District Judge John Judge. The crime stunned the small college town of Moscow, Idaho, home to the University of Idaho, and drew national attention, with six weeks elapsing before a suspect was apprehended. Kohberger eventually was arrested in Pennsylvania, where he was visiting his family, and flown to Idaho to face charges. Kohberger was working on a PhD degree in criminal justice at Washington State University, about 10 miles (16 kilometers) from the University of Idaho campus.

☆ In a first, women poised to become mayors of Philadelphia and Jacksonville
▼ + stars: | 2023-05-17 | by ( Brendan O'Brien | ) www.reuters.com time to read: +2 min

Democrat Donna Deegan pulled off an upset in Jacksonville, defeating front-running candidate Republican Daniel Davis on Tuesday to become the city's first female mayor. In Philadelphia, former state representative and City Council member Cherelle Parker won the Democratic nomination for mayor. She now faces Republican David Oh in the general election in November, a race she will most likely win in the largely Democratic city. Parker pledged to hire more police officers if she becomes Mayor of Philadelphia, where violent crime remains a chief concern across the nation's sixth largest city. She, like Deegan, would become her city's first female mayor if she wins, taking over for incumbent Democratic mayor Jim Kenney, who was term limited.

[1/2] Sayfullo Saipov, the suspect in the New York City truck attack is seen in this handout photo released November 1, 2017. Saipov used a Home Depot rental truck to mow down people on a path along the Hudson River on Manhattan's West Side, according to prosecutors. He had hoped to the attack would help him gain membership in Islamic State, or ISIS, they said. Most of the people scheduled to speak at the hearing are traveling from Argentina and Belgium. Reporting by Luc Cohen in New York and Brendan O'Brien in Chicago; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.

☆ Mexican president: 'No problem' if Grupo Mexico buys Citi's Banamex unit
▼ + stars: | 2023-05-16 | by ( Brendan O'Boyle | ) www.reuters.com time to read: +1 min

Lopez Obrador said the mining and transport conglomerate (GMEXICOB.MX) remains one of the possible buyers of the retail banking unit, also known locally as Banamex. Lopez Obrador said he believes several "recommendations" he has for the sale are being met. Reuters reported last week that Grupo Mexico was closing in on a $7 billion deal to purchase Banamex. Lopez Obrador, a leftist economic nationalist, referenced tensions with Grupo Mexico's billionaire magnate German Larrea. When it comes to the sale and purchase of the bank there is no problem," Lopez Obrador said.

May 16 (Reuters) - The International Monetary Fund on Tuesday said it "strongly supports" Brazil's efforts to improve the country's fiscal position, while also commending the country's "ambitious agenda" to have a sustainable, inclusive, and green economy. "Enhancing Brazil's fiscal framework, broadening the tax base, and tackling spending rigidities would support sustainability and credibility," the leader of an annual mission to the country, Ana Corbacho, said in a statement after the Fund's visit. Brazil's finance ministry in late March unveiled new fiscal rules to balance limits on spending growth under the administration of President Luiz Inacio Lula da Silva, who has vowed to boost social programs and public investment. The new rules limit spending growth to 70% of Brazil's revenue growth in the prior 12 months. Corbacho also noted Brazil's efforts to "steer a sustainable, inclusive, and green economy" by cracking down on illegal deforestation, for example, and "leveraging competitive advantage in renewable energies."

☆ Mexico's mighty peso hits 7-year record high against U.S. dollar
▼ + stars: | 2023-05-15 | by ( Noe Torres | ) www.reuters.com time to read: +2 min

Some analysts chalk up the peso's latest gains, however, as mostly the flip side of a weakening greenback. The peso gained 0.95% on Monday to trade at 17.42 pesos per dollar, its strongest level since May 2016. President Andres Manuel Lopez Obrador repeatedly touts the peso's strength as evidence of sound macroeconomic policies, especially his administration's budget austerity and pledge to avoid taking on new debt. "A big part of (the peso's strength) is the dollar's weakness," he said, adding that the Mexican economy further benefits from growing flows of fixed investments into the country. "Mexico has shown itself to be the least ugly person at the party," quipped Gonzali, helping it attract more dance partners.

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