DIRS.INFO The most relevant business & tech news

☆ 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

☆ Mexico must address US' 'serious concerns' over energy measures, USTR says
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jose Luis Gonzalez/File Photo Acquire Licensing RightsMEXICO CITY, Sept 21 (Reuters) - A U.S. trade official stressed Mexico's need to address "serious concerns" from the United States of its energy measures, which were raised during consultations under a regional trade pact, the U.S. Trade Representative's (USTR) office said on Thursday. Deputy Trade Representative Jayme White, who met with his Mexican counterpart Alejandro Encinas in Mexico on Wednesday, urged Mexico to address its energy measures which the U.S. says unfairly discriminate against its companies, the USTR said in a statement. The U.S. and Canada demanded dispute settlement talks with Mexico under the United States-Mexico-Canada (USMCA) trade agreement over Mexico's energy policy in July 2022. White also expressed concerns over the "recent surge" in U.S. imports of certain steel and aluminum products from Mexico, the USTR said, and the "lack of transparency" regarding their country of origin. White and Encinas additionally discussed ongoing USMCA consultations regarding Mexico's enforcement of fisheries-related environmental laws, the USTR said.

Persons: Jose Luis Gonzalez, Jayme White, Alejandro Encinas, White, Encinas, Kylie Madry, Valentine Hilaire, Richard Chang Organizations: Ciudad Juarez, REUTERS, U.S . Trade, Reuters, Thomson Locations: Paso del Norte, El Paso, Ciudad Juarez, Mexico, MEXICO, U.S, United States, Canada

SANTA LUCIA, Mexico, Sept 20 (Reuters) - There is still work to be done with Mexican authorities to smooth over hiccups caused by the government-mandated move of cargo flights from the nation's busiest airport to a farther-away airport, a UPS executive said on Wednesday. UPS kicked off cargo flights at the Felipe Angeles International Airport (AIFA) - a year-old, military-run airport backed by the country's president - last month, said Francisco Ricaurte, the firm's Mexico and Latin America head, in an interview with Reuters at the hub. Mexico earlier this year ordered cargo carriers stop operating at the Mexico City International Airport (AICM), pushing them to use AIFA instead in a bid to reduce oversaturation at AICM. The decree applies only to flights carrying only cargo, while passenger flights are still permitted to bring cargo to AICM. Ricaurte said UPS was still using its storage facilities at AICM as well as the depot it jointly operates at AIFA.

Persons: Francisco Ricaurte, Ricaurte, Mexico Ken Salazar, AICM, Kylie Madry, Lincoln Organizations: UPS, Felipe Angeles International Airport, Latin America, Reuters, Mexico City International, Thomson Locations: SANTA LUCIA, Mexico, Latin, AICM, AIFA

☆ Haitian Gangs Call for Armed Overthrow of PM Henry as Chaos Escalates
▼ + stars: | 2023-09-20 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

The assassination created a power vacuum, with Prime Minister Ariel Henry governing on an interim basis since. Henry has pledged to hold elections once security is re-established, and has called for international help in fighting the gangs. "If the international community has nothing to do with (Moise's) death, they must not support Ariel Henry." More than 19,000 people have been displaced from the capital in recent weeks due to the outbreak of armed violence, according to U.N. estimates. (Reporting by Ralph Tedy Erol; Writing by Kylie Madry; Editing by Alex Richardson)

Persons: Ralph Tedy Erol PORT, Ariel Henry, Jimmy, Ariel Henry's, Cherizier, Jovenel Moise, Henry, Ralph Tedy Erol, Kylie Madry, Alex Richardson Organizations: Reuters, United Nations Locations: Port, Haiti, Carrefour, Kenya

☆ Haitian gangs call for armed overthrow of PM Henry as chaos escalates
▼ + stars: | 2023-09-20 | by ( Ralph Tedy Erol | ) www.reuters.com time to read: +2 min

Former police officer Jimmy "Barbecue" Cherizier, leader of the 'G9' coalition, leads a march surrounded by his security against Haiti's Prime Minister Ariel Henry, in Port-au-Prince, Haiti. "We are launching the fight to overturn Ariel Henry's government in any way," gang leader Cherizier told Reuters. The assassination created a power vacuum, with Prime Minister Ariel Henry governing on an interim basis since. Henry has pledged to hold elections once security is re-established, and has called for international help in fighting the gangs. "If the international community has nothing to do with (Moise's) death, they must not support Ariel Henry."

Persons: Jimmy, Ariel Henry, Ralph Tedy Erol, Ariel Henry's, Cherizier, Jovenel Moise, Henry, Kylie Madry, Alex Richardson Organizations: Haiti's, REUTERS, Reuters, United Nations, Thomson Locations: Port, Prince, Haiti, Carrefour, Kenya

☆ Peru president proposes international pact to combat El Nino effects
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: 1 min

Peru's president Dina Boluarte addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Eduardo Munoz Acquire Licensing RightsSept 19 (Reuters) - Peruvian President Dina Boluarte proposed the creation of an international pact to tackle the effects of the El Nino weather phenomenon, speaking on Tuesday to world leaders gathered at the United Nations General Assembly (UNGA). Boluarte urged increased collaboration to ease the effects of the weather phenomenon, which the country's central bank has said remains a risk to the local economy and inflation. Reporting by Valentine Hilaire and Marco Aquino; Editing by Kylie MadryOur Standards: The Thomson Reuters Trust Principles.

Persons: Dina Boluarte, Eduardo Munoz, Boluarte, Valentine Hilaire, Marco Aquino, Kylie Madry Organizations: General Assembly, REUTERS, El, United Nations General Assembly, Thomson Locations: New York City, U.S, Peruvian

☆ Paraguay president backs Taiwan joining UN system
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +1 min

[1/2] Paraguay's president Santiago Pena addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Eduardo Munoz Acquire Licensing RightsSept 19 (Reuters) - Paraguay supports Taiwan joining the United Nations system, the South American country's president, Santiago Pena, said on Tuesday, speaking at the U.N. General Assembly (UNGA). Due to a 1971 U.N. resolution, Taiwan has been excluded from the international body, which recognizes the People's Republic of China as the legitimate representative of China to the U.N."The government of Paraguay expresses its support for the Republic of China - Taiwan to be an integral part of the United Nations system," Pena said. Paraguay is the last South American country with formal relations with Taiwan, which China claims as its own territory. When asked about Taiwan last week, U.N. Deputy Secretary-General Amina Mohammed said exclusion of anyone can harm global goals.

Persons: Santiago Pena, Eduardo Munoz, Pena, U.N, Amina Mohammed, Kylie Madry, Sarah Morland Organizations: General Assembly, REUTERS, United Nations, American, Thomson Locations: New York City, U.S, Paraguay, Taiwan, People's Republic of China, China, Republic of China, American

☆ US raises Mexico air safety rating in boost for country's airlines
▼ + stars: | 2023-09-14 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

A view shows an area of the Felipe Angeles International airport, in Zumpango, on the outskirts of Mexico City, Mexico August 25, 2022. Mexico was downgraded by the U.S. regulator in May 2021 after the agency found the country did not meet safety standards. The downgrade was a major blow to Mexico carriers, as U.S. airlines were able to scoop up market share. Mexico overhauled its civil aviation law, but faced several hurdles and spent years in recovering the Category 1 rating. The return of Mexico to the highest aviation safety rating followed "more than two years of close work between the countries' civil aviation authorities," the FAA said in a statement.

Persons: Henry Romero, Jorge Nuno, Aeromexico, David Shepardson, Valentine Hilaire, Kylie Madry, Aurora Ellis, Richard Chang, Marguerita Choy Organizations: Felipe Angeles International, REUTERS, Rights, Federal Aviation Administration, FAA, Reuters, Airlines, U.S, Mexico's, Local, Thomson Locations: Zumpango, Mexico City, Mexico, U.S, Canada

☆ Mexican President Says Operations at Capital Airport 'Very Risky'
▼ + stars: | 2023-09-08 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

MEXICO CITY (Reuters) - Operations at Mexico City's principal airport are "very risky," President Andres Manuel Lopez Obrador said on Friday. The Mexico City International Airport (AICM) is operating at 150% of its capacity, Lopez Obrador said at a regular press conference, as he sought to make the case for reducing the number of flights there. The flight cuts would also affect the usage tax collected from each passenger who travels through the airport. The tax is currently used to pay off some $4.2 billion in outstanding bonds from the construction of an unfinished airport, which Lopez Obrador scrapped upon his election. Asked about the downgrade, Lopez Obrador said on Friday that bondhoders can trust their investments are safe.

Persons: Andres Manuel Lopez Obrador, Lopez Obrador, Lopez, Fitch, Valentine Hilaire, Kylie Madry Organizations: MEXICO CITY, Mexico City International, Government, Industry, Trust Locations: MEXICO, Mexico

REUTERS/Raquel Cunha/File Photo Acquire Licensing RightsSept 8 (Reuters) - The U.S. Department of Transportation has told Mexico that it will officially recover a U.S.-given air safety rating next week, Mexican President Andres Manuel Lopez Obrador said on Friday, preempting the much-anticipated decision. Mexico overhauled its civil aviation law, but faced several hurdles in recovering the Category 1 rating. "This is good news," Lopez Obrador said in a regular morning press conference, explaining that Foreign Minister Alicia Barcena had been informed by the U.S. Department of Transportation of the upcoming decision. The tax is currently used to pay off some $4.2 billion in outstanding bonds from the construction of an unfinished airport, which Lopez Obrador scrapped upon his election. Lopez Obrador slammed the ratings agency's decision on Friday, and said he could assure bondholders their investments were safe.

Persons: Andres Manuel Lopez Obrador, Raquel Cunha, Lopez Obrador's, Lopez Obrador, Alicia Barcena, Carrier Aeromexico, Lopez, Fitch, Kylie Madry, David Shepardson, Andrea Ricci, Edmund Blair, Aurora Ellis Organizations: Regeneration, REUTERS, U.S . Department of Transportation, U.S . Federal Aviation Administration, FAA, Reuters, Government, Industry, Carrier, Trust, Thomson Locations: Mexico City, Mexico, U.S

☆ Mexican core inflation slows more than expected to 20-month low
▼ + stars: | 2023-09-07 | by ( Natalia Siniawski | ) www.reuters.com time to read: +2 min

That drop was off the back of lower core goods inflation, Capital Economics analyst Jason Tuvey said, while services inflation - which central bank board members have described as "sticky" - remained above 5% year over year. Annual core inflation in the second half of the month was "good news," said central bank board member Jonathan Heath on social media network X. Headline inflation edged downward to 4.64% in the month, in line with market expectations and its lowest since March 2021. That was driven by softer core price pressures, Capital's Tuvey said, but with inflation in the services sector still proving stubborn, the central bank is still unlikely to kick off an interest-rate easing cycle soon. The closely watched core price index rose 0.27% during the month (MXCPIX=ECI).

Persons: Jose Luis Gonzalez, Jason Tuvey, Jonathan Heath, Capital's Tuvey, Andres Abadia, Natalia Siniawski, Kylie Madry, Frances Kerry, Aurora Ellis Organizations: REUTERS, Capital, Reuters, of, Macroeconomics, America, Thomson Locations: Ciudad Juarez, Mexico, of Mexico

☆ Lee to Become 'Major Hurricane' Over Weekend as It Chugs Across Caribbean
▼ + stars: | 2023-09-07 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Hurricane Lee, a Category 2 storm, was "rapidly strengthening" as it churned through the Caribbean on Thursday, the U.S.-based National Hurricane Center (NHC) reported. In Puerto Rico and the U.S. Virgin Islands, the Federal Emergency Management Agency (FEMA) has pre-deployed assets and is coordinating with local officials ahead of the storm, the Biden administration said. However, the hurricane is likely to miss Puerto Rico and the Virgin Islands as it moves northwest, the NHC's estimated storm path showed. "The potential for tropical storm conditions to occur in the islands is decreasing, but residents there should continue to monitor updates on Lee," the NHC said. Lee is expected to remain powerful through the next several days, the NHC added.

Persons: Hurricane Lee, Biden, Lee, Kylie Madry, Jeff Mason, Aurora Ellis Organizations: Reuters, Hurricane Center, U.S ., Federal Emergency Management Agency, FEMA, NHC, Puerto Rico, British Locations: Caribbean, U.S, Puerto Rico, U.S . Virgin Islands, Lesser, U.S . Virgin Islands , Puerto Rico, Hispaniola, Bahamas, Bermuda

☆ Category 4 Hurricane Lee 'rapidly strengthening' across Caribbean
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Sept 7 (Reuters) - Hurricane Lee has intensified to a Category 4 storm and is "rapidly strengthening" as it churns through the Caribbean on Thursday, the U.S. National Hurricane Center reported. In Puerto Rico and the U.S. Virgin Islands, the Federal Emergency Management Agency (FEMA) has pre-deployed assets and is coordinating with local officials ahead of the storm, the Biden administration said. The hurricane was packing winds up to 130 mph (215 kph) by 5 p.m. Atlantic Standard Time (2100 GMT) on Thursday, and additional strengthening was expected at night, the Miami-based hurricane center said. Lee is expected to remain powerful through the next several days, the NHC added. Reporting by Kylie Madry; Additional reporting by Jeff Mason and Aurora Ellis; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Lee, Biden, Kylie Madry, Jeff Mason, Aurora Ellis, Jonathan Oatis Organizations: U.S, National Hurricane Center, U.S ., Federal Emergency Management Agency, FEMA, British, NHC, Thomson Locations: Caribbean, Puerto Rico, U.S, U.S . Virgin Islands, Miami, Lesser, U.S . Virgin Islands , Puerto Rico, Hispaniola, Bahamas, Bermuda

☆ Mercosur reply on trade deal addendum already sent to EU, Brazil minister says
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Sept 6 (Reuters) - Brazil's Foreign Relations Minister Mauro Vieira said on Wednesday the Mercosur bloc of Brazil, Argentina, Paraguay and Uruguay has already sent the European Union their position on an European addendum to their long-awaited trade agreement. Mercosur's counterproposal follows a so-called side letter from the EU including environmental safeguards to address strong reservations expressed by many EU member countries about the deal, which has been under negotiation for two decades. Reporting by Gabriel Araujo; Editing by Kylie MadryOur Standards: The Thomson Reuters Trust Principles.

Persons: Mauro Vieira, counterproposal, Gabriel Araujo, Kylie Madry Organizations: SAO PAULO, Foreign, Mercosur, European Union, Thomson Locations: Brazil, Argentina, Paraguay, Uruguay

SAO PAULO, Sept 6 (Reuters) - The death toll from heavy rains in southern Brazil rose to 36, local authorities said on Wednesday, as a tropical cyclone battered and soaked the region, flooding homes and swelling rivers. Video obtained by Reuters showed rising water flooding streets and rivers and submerging houses in the small town of Mucum, in Rio Grande do Sul state. Dominguez Fontana, a 74-year-old sawmill worker who escaped the Mucum flooding, said nothing could be salvaged. The Rio Grande do Sul floods are just the latest recent natural disasters in Brazil. More than 50 people were killed in Sao Paulo state this year after massive downpours caused landslides and flooding.

Persons: Dominguez Fontana, Luiz Inacio Lula da Silva, Eduardo Leite, Lula, Geraldo Alckmin, Eduardo Simoes, Gabriel Araujo, Kylie Madry, William Maclean, David Gregorio Our Organizations: SAO PAULO, Reuters, Roca, Thomson Locations: Brazil, Mucum, Rio Grande do Sul, Sao Paulo, Petropolis, Rio de Janeiro, Bahia, Santa Catarina

☆ Copper giant Codelco raises $2 billion in bond offering
▼ + stars: | 2023-09-05 | by ( Fabian Cambero | ) www.reuters.com time to read: +2 min

Codelco's logo is seen at the entrance of its Ventanas copper smelter in Ventanas, Chile October 18, 2019. REUTERS/Rodrigo Garrido/File Photo Acquire Licensing RightsSANTIAGO, Sept 5 (Reuters) - Chile's Codelco raised $2 billion in a bond offering in New York on Tuesday, as the world's top copper producer seeks to fund an investment drive to revive flagging output. "This financing seeks to ensure the availability of resources for the development of a demanding portfolio of investments that for this year will need a total of $4.1 billion," Codelco said in a statement. It said the firm would need to lift its investments to about $4 billion from $3.3 billion to boost its "structural projects." Codelco's production slipped last year to about 1.45 million metric tons, the lowest in around a quarter of a century, and output has slipped further this year with the miner expecting to produce between 1.31 million to 1.35 million metric tons of copper.

Persons: Rodrigo Garrido, Codelco, Moody's, Fabian Cambero, Kylie Madry, Steven Grattan, Emelia, Jonathan Oatis Organizations: REUTERS, Rights, Treasury, BNP, Citi, J.P, Santander, Scotiabank, Thomson Locations: Ventanas, Chile, New York, Morgan

Reuters first reported the planned cuts on Wednesday, citing an internal government document. Airport authorities met with airline representatives later on Thursday, but did not say how the flight reductions will be distributed among carriers, according to a source with knowledge of the meeting. Instead, airport officials would present the methodology for distributing the cuts in a future meeting, the source added. A representative for the airport confirmed the meeting occurred, but did not explain how it planned to divvy up the cuts. Mexico's top three carriers, Aeromexico, Volaris and Viva Aerobus, all also criticized the cuts in separate statements.

Persons: Luis Cortes, Andres Manuel Lopez Obrador, Lopez Obrador, Peter Cerda, Aerobus, Aeromexico, Volaris, Felipe, Kylie Madry, Cassandra Garrison, Raul Cortes, Bill Berkrot, Stephen Coates Organizations: Benito Juarez International, REUTERS, MEXICO CITY, Mexico City International, International Air Transport Association, Reuters, Aerobus, Felipe Angeles International Airport, Thomson Locations: Mexico City, Mexico, MEXICO, Latin America

[1/2] Aeromexico aircrafts and other planes are parked at gates at Benito Juarez International Airport in Mexico City, Mexico January 19, 2023. REUTERS/Henry Romero/File Photo Acquire Licensing RightsMEXICO CITY, Aug 30 (Reuters) - Mexico's government plans to cap flights at the Mexico City International Airport (AICM) to 43 an hour, according to an internal government document order seen by Reuters on Wednesday. The cuts follow previous flight caps at the airport last year, as the government attempts to reduce saturation in the Mexican capital's airspace. Earlier on Wednesday, the International Air Transport Association (IATA) urged Mexico to take alternative measures to its plans to announce flight reductions at AICM. Mexico last year moved to diversify its airspace around the capital, opening the Felipe Angeles International Airport (AIFA) north of Mexico City and turning back to the largely forgotten Toluca airport to the west of town.

Persons: Henry Romero, Carlos Velazquez, Felipe, Peter Cerda, Andres Manuel Lopez Obrador, Lopez Obrador, Kylie Madry, Cassandra Garrison, Leslie Adler, Stephen Coates Organizations: Benito Juarez International Airport, REUTERS, MEXICO CITY, Mexico City International, Reuters, Transportation Ministry, International Air Transport Association, Felipe Angeles International Airport, Thomson Locations: Mexico City, Mexico, MEXICO, Latin America, Toluca, IATA's, America, Texcoco, Mexican

☆ 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

☆ Brazil's Lula wants to discuss changes to UN Security Council with Biden
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

President of Brazil Luiz Inacio Lula da Silva and President Joe Biden walk along the West Colonnade to the Oval Office at the White House in Washington, U.S. February 10, 2023. Sarah Silbiger/Pool via REUTERS/File photo Acquire Licensing RightsSAO PAULO, Aug 29 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Tuesday he wants to discuss the possibility of making changes to the United Nations Security Council with his U.S. counterpart Joe Biden. Lula, who has long campaigned for Brazil and other countries to be permanently included in the council, is expected to meet Biden on the sidelines of the U.N. General Assembly next month in New York. Last week, during a summit of the BRICS group of emerging nations in South Africa, the leftist leader called on fellow BRICS members China and Russia to support more countries entering the council as permanent members. The Brazilian leader added in a live broadcast on social media that BRICS members have agreed to discuss until next year's summit the possibility of establishing a common currency for trade between them.

Persons: Brazil Luiz Inacio Lula da Silva, Joe Biden, Sarah Silbiger, Luiz Inacio Lula da Silva, Lula, Biden, Gabriel Araujo, Eduardo Simoes, Kylie Madry Organizations: White, SAO PAULO, United Nations Security Council, U.S, General Assembly, Congress, Thomson Locations: Washington , U.S, Brazil, New York, South Africa, China, Russia, India, Germany, Japan

☆ Brazil's Natura mulls sale of The Body Shop
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

The logo of British cosmetics and skin care company The Body Shop is seen outside a store in Vienna, Austria, June 4, 2016. REUTERS/Leonhard Foeger Acquire Licensing RightsSAO PAULO, Aug 28 (Reuters) - Brazilian cosmetics maker Natura &Co (NTCO3.SA) said on Monday its board of directors had authorized the company to search for "strategic alternatives" for its subsidiary The Body Shop, including a potential sale of the business. The move comes after the Brazilian company in April agreed to sell its luxury brand Aesop to French cosmetics group L'Oreal (OREP.PA) at an enterprise value of $2.53 billion. Natura grew through high profile acquisitions in recent years, including the purchase of The Body Shop from L'Oreal in 2017, but has now been looking for "discipline" and deleveraging as it aims to bring back profitability. "There can be no assurance that this process will result in any transaction," Natura said in a securities filing about the potential Body Shop deal.

Persons: Leonhard Foeger, Roberto Marques, Fabio Barbosa, Gabriel Araujo, Kylie Madry Organizations: REUTERS, SAO PAULO, Natura, L'Oreal, Thomson Locations: Vienna, Austria, Brazilian, Natura

☆ 'New scenario' opens for Argentina with BRICS invitation, Fernandez says
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

Argentina's President Alberto Fernandez speaks during a news conference at the Itamaraty Palace in Brasilia, Brazil, June 26, 2023. REUTERS/Adriano Machado/File Photo Acquire Licensing RightsAug 24 (Reuters) - A "new scenario" opens for Argentina with the invitation for the South American country to join the BRICS group of developing nations, President Alberto Fernandez said on Thursday. Argentina wanted to join BRICS - a group currently made up of Brazil, Russia, India, China and South Africa - because of the bloc's geopolitical and financial importance during a difficult global context, Fernandez said in a speech. Argentina was invited to join BRICS along with Saudi Arabia, Iran, Ethiopia, Egypt and the United Arab Emirates, as the group convenes in South Africa this week. By joining BRICS, Argentina will act as an important interlocutor and potential broker for consensus with other nations, Fernandez added.

Persons: Alberto Fernandez, Adriano Machado, Fernandez, Gabriel Araujo, Kylie Madry, Christina Fincher, Chizu Organizations: REUTERS, South, BRICS, United Arab, Thomson Locations: Brasilia, Brazil, Argentina, Russia, India, China, South Africa, Saudi Arabia, Iran, Ethiopia, Egypt, United Arab Emirates, BRICS

☆ Brazil's Lula in favor of Argentina joining BRICS bloc
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +3 min

SAO PAULO, Aug 22 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Tuesday he wanted Argentina to join the BRICS group of emerging countries, as Brazil's neighbor struggles with a lack of foreign reserves. "It is very important for Argentina to be in BRICS," Lula said in a live broadcast on social media as he attends the bloc's summit in South Africa. Argentina, whose largest trade partner is Brazil, has previously said it intended to join the BRICS bloc. Lula also said he was in favor of other countries joining the alliance, mentioning Indonesia as a potential new member. "We do not want to be a counterpoint to the G7, G20 or the United States," Lula said.

Persons: Luiz Inacio Lula da Silva, Lula, Javier Milei, Ian Bremmer, Gabriel Araujo, Kylie Madry, Mark Potter Organizations: SAO PAULO, International Monetary Fund, South, U.S ., Thomson Locations: Argentina, BRICS, South Africa, Brazil, Russia, India, China, Indonesia, Babel, Eurasia, Saudi Arabia, United States

SAO PAULO, Aug 21 (Reuters) - Latin American corporate card provider Clara has launched cross-border transactions, the company announced on Monday, expecting to move up to $100 million by the end of the year. Through the service, clients can now pay bills in major foreign currencies, Clara said in a statement. Earlier this month, Clara announced it was moving its headquarters from Mexico to Brazil, betting on the South American country becoming its largest market by 2024. Half of the company's leadership is already based in Brazil, Clara said on Monday. ($1 = 17.0143 Mexican pesos)Reporting by Kylie Madry; Editing by Conor Humphries and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

Persons: Clara, nearshoring, Clara said, Kylie Madry, Conor Humphries, Cynthia Osterman Organizations: SAO PAULO, Reuters, Thomson Locations: American, Mexico, Colombia, Brazil

[1/4] Klar CEO Stefan Moller poses for a photograph in Mexico City, Mexico, July, 2022, in this handout photo made available to Reuters on August 14, 2023. The executive explained that Klar currently offers credit lines ranging from 1,000 pesos ($58.67) to 30,000 pesos ($1,760.24), but is looking to "experiment" with loans up to 40,000 pesos. "Every three months we re-evaluate the size of the (credit) line," Moller said. "We're still in a market where credit penetration and consumer credit penetration is much lower than it should be compared to economic development indicators." ($1 = 17.0431 Mexican pesos)Reporting by Kylie Madry Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Stefan Moller, Moller, Klar, We're, Kylie Madry, Marguerita Choy Organizations: Reuters, Victory, Capital, Thomson Locations: Mexico City, Mexico, Handout, Mexican

Search resuls for: "Madry"

25 mentions found