DIRS.INFO The most relevant business & tech news

☆ Mexican president backs U.S. dollar as globe's 'principal currency'
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, May 8 (Reuters) - Mexican President Andres Manuel Lopez Obrador gave the U.S. dollar a vote on confidence on Monday after he was asked if a weakening greenback might spur a move to diversify Mexico's foreign currency reserves. "We are going to continue considering the dollar as the world's principal currency," Lopez Obrador told a press conference. "We have sufficient reasons to not move to other currencies," he said, underscoring Mexico's "increasingly close" economic ties to the United States. The United States is by far Mexico's largest trading partner, with both economies closely integrated over decades in sectors ranging from energy, autos and agriculture. The dollar remained weaker against most of its major peers on Monday as fears persist about a potential recession in the United States later this year.

☆ Paraguay presidential candidate Cubas arrested after post-election protests
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

[1/3] Paraguayo Cubas, who placed third in Paraguay's presidential elections last week, talks to police officers after his arrest, in Asuncion, Paraguay, May 5, 2023. REUTERS/Cesar OlmedoASUNCION, May 5 (Reuters) - Paraguayo Cubas, who placed third in Paraguay's presidential elections, has been arrested following post-election protests, authorities said on Friday. Cubas led protests to dispute Sunday's election results and call for a recount, though international organizations said there was no reason to doubt the integrity of the vote. "All the criminals in this country should be handcuffed like Paraguayo Cubas," he added as he got into a patrol car. Cubas had announced plans for renewed protests after his arrival in the capital.

☆ LATAM Airlines reverses loss, posts $122 mln net profit in Q1
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

May 3 (Reuters) - LATAM Airlines (LTM.SN) reported a first-quarter net profit of $121.8 million, the company said on Wednesday, reversing a net loss of $380 million in the year-ago period. The airline, created by the 2012 merger of Chile's LAN with Brazilian rival TAM, operates units in Chile, Brazil, Colombia and Peru. Revenue for Santiago-based LATAM during the quarter rose about 43.2% to $2.8 billion from the year-ago period, boosted by an increase in passenger revenue. Last November, LATAM announced the completion of a years-long restructuring process after it declared bankruptcy in 2020. Reporting by Noe Torres and Carolina Pulice; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Sons of Mexican drug lord 'El Chapo' deny trafficking fentanyl in rare letter
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, May 4 (Reuters) - Sons of former Mexican drug lord Joaquin "El Chapo" Guzman denied U.S. allegations that they were major traffickers flooding the United States with synthetic opioid fentanyl, addressing the claims against them in a rare letter. The U.S. Justice Department last month charged leaders of the Sinaloa Cartel with trafficking fentanyl and other drugs, including four sons of El Chapo, the cartel's one time leader who is now imprisoned in the U.S. "We have never produced, manufactured or marketed fentanyl or any of its derivatives," the sons wrote in the letter, published by Mexican news outlet Milenio late on Wednesday. They also singled out Los Chapitos as key figures in the Sinaloa Cartel, blaming them for worsening the U.S. opioid epidemic. Mexico and the United States agreed last month to ramp up efforts to stop the trafficking of fentanyl, which has driven a surge in overdose deaths in the United States.

☆ US to continue humanitarian program after Title 42 end date - joint statement
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, May 2 (Reuters) - The United States will continue to accept migrants from Cuba, Haiti, Nicaragua, and Venezuela under a humanitarian program after May 11, when the COVID-19 health policy known as Title 42 is set to end, the U.S. and Mexican governments said on Tuesday. Mexico, for its part, will continue accepting back migrants returned to Mexico on humanitarian grounds, the two countries said in a joint statement. The statement also said the United States would accept some 100,000 people from El Salvador, Guatemala and Honduras under a family reunification program announced last week, but did not give a time frame for that number. The statement came after Mexican President Andres Manuel Lopez Obrador met with White House Homeland Security Advisor Elizabeth Sherwood-Randall on Tuesday to discuss migration ahead Title 42's impending end. Tuesday's announcement indicates that a humanitarian parole program providing legal migration pathways for Cubans, Haitians, Nicaraguans, and Venezuelans will continue after Title 42's end.

Solis, 64, lives on the banks of Mexico's Villa Victoria reservoir, which supplies water to the bustling capital hours away but does not reach her own faucets. Villa Victoria is part of the Cutzamala System, the source of water for about six million people in Mexico City and the surrounding state of Mexico. Climate change, chaotic urban growth and inefficient infrastructure have strained Mexico's water supplies, pushing the Cutzamala System's stores to their lowest level in 27 years. Mexico City is also tapping alternative sources of water outside the Cutzamala System, including by replacing wells in the Zumpango area in the state of Mexico. But for people like Israel, who lives just a few minutes' drive from the Cutzamala System's water treatment plant and asked not to use his last name, the constitution's promise is increasingly distant.

☆ Walmart in Mexico sees net profit rise in first quarter, yet trails competitors
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

April 26 (Reuters) - Walmart's Mexico unit (WALMEX.MX) on Wednesday posted a 3.7% rise in first quarter net profit as same-store sales rose in all markets, but it flagged inflation concerns after falling behind competitors in Mexico. Walmart de Mexico, known as Walmex, recorded 11.5 billion pesos ($639 million) in net profit for the first three months of the year, missing a Refinitiv estimate of 12.3 billion pesos. The company said changes in how taxes were calculated in a Central American country hit net profit, which otherwise would have grown 15.6%. Both Mexico and Central America posted same-store sales growth, with revenue up 9.7% from a year earlier to land at 206 billion pesos. Walmex's earnings before interest, taxes, depreciation and amortization (EBITDA) grew 7.7% to 22.31 billion pesos.

☆ Walmart Mexico's profit edges up as it adds new stores
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: 1 min

April 26 (Reuters) - Walmart's Mexico unit (WALMEX.MX) on Wednesday posted a 3.7% rise in its net profit for the first three months of 2023, rising to 11.5 billion pesos ($639 million), as it expanded its footprint with 12 new stores over the quarter. The company, known as Walmex, posted a first quarter revenue up 9.7% from a year earlier, landing at 206.07 billion pesos. Walmex's earnings before interest, taxes, depreciation and amortization (EBITDA) meanwhile grew 7.7% to 22.31 billion pesos, with same-store sales up 12.4% in Central America and 8.7% in Mexico. "New stores contributed 1.4% to total sales growth," Walmex said in a statement. ($1 = 18.0201 pesos at end-March)Reporting by Carolina Pulice; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Chile, US miner Albemarle hold talks on lithium nationalization plan
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

[1/3] Lithium evaporation ponds are seen at Albemarle Lithium production facility in Silver Peak, Nevada, U.S. October 6, 2022. REUTERS/Carlos BarriaSANTIAGO, April 25 (Reuters) - Chile's state development office Corfo said on Tuesday it met with U.S.-based miner Albemarle (ALB.N) to discuss the South American country's plan to nationalize the lithium industry. Chile's leftist President Gabriel Boric last week announced that control of the country's vast lithium operations would over time be transferred from Albemarle and SQM (SQMA.SN) to a separate state-owned company. Chile has the world's largest lithium reserves. He added that Albemarle, the world's largest producer of lithium, wants to grow in Chile and in the Atacama salt flat with new technologies.

☆ Guatemala's Giammattei to visit Taiwan April 24-26
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

April 21 (Reuters) - Guatemalan President Alejandro Giammattei will visit Taiwan April 24 to 26, his office said Friday, following a recent visit by Taiwanese leader Tsai Ing-wen to Guatemala. Giammattei will also speak at Taiwan's parliament and meet with Vice President William Lai, his office said. He is scheduled to give a joint conference following a meeting with President Tsai as well. On Wednesday, China's foreign ministry warned Guatemala to not aid Taiwan's "independence attempts." China maintains that Taiwan is part of its territory, which Taiwan disputes.

☆ Mexico nabs, swiftly deports MS-13 gang leader to El Salvador
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +2 min

Jose Wilfredo Ayala, 55, was arrested after a tip from a neighbor, according to the Mexican capital's security ministry. The ministry said it had discovered Ayala - believed to be second-in-command of the gang commonly known as MS-13 - was using a false identity and hiding in Mexico City and in two areas a short drive north in Hidalgo state. An official with Mexico's national immigration institute INM told Reuters later on Tuesday that Ayala had already been deported to his native El Salvador, but did not provide further detail. El Salvador's justice and security ministry did not immediately respond to a request for comment on Ayala's capture. Reporting by Nelson Renteria in San Salvador; Additional reporting by Lizbeth Diaz in Mexico City; Writing by Brendan O'Boyle; Editing by David Alire Garcia and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

[1/2] Security forces operate as supporters of Brazil's former President Jair Bolsonaro demonstrate against President Luiz Inacio Lula da Silva, in Planalto Palace, in Brasilia, Brazil, January 8, 2023. REUTERS/Ueslei MarcelinoBRASILIA, April 14 (Reuters) - A judge on Brazil's Supreme Court has ordered former President Jair Bolsonaro to testify before federal police within 10 days about his role in the Jan. 8 storming of government buildings by his supporters. Bolsonaro has denied any responsibility for the riots - which recalled the 2021 storming of the U.S. Capitol by supporters of former President Donald Trump. His critics say he instigated the riots by inflaming his supporters with attacks on Lula and by repeatedly criticizing Brazil's voting system, which he claimed was open to fraud, though he never provided proof. Bolsonaro returned to Brazil in March but faces legal investigations into his attacks on the voting system and alleged role in encouraging supporters to storm Brasilia on Jan. 8.

☆ Mexico eyes U.S. return of $246 million confiscated from former official
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, April 12 (Reuters) - The United States has said it will return money and assets confiscated from a convicted former senior Mexican state official that were worth over $246 million, Mexican President Andres Manuel Lopez Obrador said on Wednesday. The U.S. Justice Department this week notified Mexico's attorney general's office that it had accepted a request from the Mexican government to recover the assets, which Lopez Obrador said were worth more than $246 million. Lopez Obrador told a news conference he wanted some of the money to go to programs focused on preventing drug consumption. Villarreal, who served under the Institutional Revolutionary Party (PRI), was ultimately convicted in Texas of money laundering. Lopez Obrador is hoping his National Regeneration Movement (MORENA) can change that, but opinion polls suggest the party is facing an uphill struggle due to internal splits.

☆ Mexican officials to hold talks in U.S. on fentanyl smuggling -president
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

The meeting's agenda will include other topics, including arms trafficking, the president said, without providing details on which U.S. officials would participate. U.S. officials say almost all fentanyl on U.S. streets is mass produced by powerful crime groups on Mexican soil, a claim Lopez Obrador denies. Lopez Obrador on Monday repeated that no fentanyl is synthesized inside Mexico, a claim the U.S. Drug Enforcement Administration (DEA) disputes. "In Mexico fentanyl is not produced, the raw material for fentanyl is not produced. Who is producing it?," Lopez Obrador said during a regular news conference Monday.

☆ Mexican president criticizes Trump felony charges
▼ + stars: | 2023-04-05 | by ( Brendan O'Boyle | ) www.reuters.com time to read: +2 min

MEXICO CITY, April 5 (Reuters) - Mexican President Andres Manuel Lopez Obrador on Wednesday said he does not agree with the criminal charges brought against former U.S. President Donald Trump. "Supposedly legal issues should not be used for electoral, political purposes," Lopez Obrador told a regular news conference. Trump, the first sitting or former U.S. president to face criminal charges, pleaded not guilty. "It should be the people who decide," said Lopez Obrador, who said he could not say whether Trump was guilty or not. Lopez Obrador went on to lose the 2006 and 2012 presidential election - results he did not accept, alleging massive voter fraud.

☆ Latam, Caribbean leaders meet to draft roadmap to tame inflation
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, April 5 (Reuters) - Leaders of 11 Latin American and Caribbean countries agreed to work to outline measures seeking to tame inflation in the region, including better conditions for trade, according to a statement published by Mexico's presidential office Wednesday. Agreements reached include the creation of a working group of government representatives aimed at identifying regional measures to coordinate the trade of commodities, fertilizers and other goods. The group's action plan is set to be implemented "within a reasonable time frame," the statement added. The new anti-inflation alliance also agreed to invite more countries from the region to take part, the statement said. Reporting by Valentine Hilaire and Raul Cortes Fernandez; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico asks China for help to control fentanyl shipments
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, April 4 (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Tuesday he had sent a letter to his Chinese counterpart Xi Jinping urging him to help control shipments of the synthetic opioid fentanyl sent across the Pacific. U.S. and Mexican officials argue that the ingredients used to make fentanyl are chiefly sent from Asia, but Lopez Obrador argues Mexico is not a production hub for the drug. Some Republicans have urged Washington to authorize the use of military force in Mexico to tackle the problem, a suggestion that has been vigorously rejected by Lopez Obrador. In his letter, Lopez Obrador complained to Xi about interference in Mexico's affairs by U.S. lawmakers. Lopez Obrador then asked Xi if he could provide Mexico with information on when, where, and how much fentanyl was being sent across the Pacific, and by whom.

☆ Mexican migration officer absent as deadly fire began in cell he supervised, guard says
▼ + stars: | 2023-03-31 | by ( Lizbeth Diaz | ) www.reuters.com time to read: +4 min

She did not know if the absent migration officer had taken the keys to the men's unit with him or if they had been stored on site, she said. Mexican officials on Thursday arrested five people suspected of involvement in the fire, after obtaining arrest orders for three INM officers, two private security officers and the person accused of starting the fire. "He returned when we were already outside; I was with the women," Hinojosa said. Officials have said they will replace CAMSA's services with federal guards in Chihuahua state, where Ciudad Juarez is located, and flagged concern over whether the company's guards were properly trained. "We are the support," she said, referring to her role helping migration officers.

☆ Over 1,000 migrants, angered by asylum policies, rush to U.S.-Mexico border
▼ + stars: | 2023-03-30 | by ( Lizbeth Diaz | ) www.reuters.com time to read: +4 min

Migrants said a new U.S. government app meant to streamline the process of securing asylum appointments from outside the United States has left them feeling fed up and helpless. A false rumor circulated on social media Wednesday that migrants surrendering at a specific spot at the border would be able to freely cross into U.S. territory. As they waited for a chance to cross the border, Border Patrol agents and Texas National Guard troops stood motionless in front of the massive metal gate, preventing them from getting through. Multiple migrants said they tried unsuccessfully to obtain a virtual appointment to start the asylum process in the U.S. Since the Biden administration rolled out the app in January, asylum seekers have complained of glitches, high demand, and a lack of appointments.

☆ Ecuador's top court says Lasso impeachment hearings can proceed
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

QUITO, March 29 (Reuters) - Ecuador's constitutional court said on Wednesday that impeachment hearings for embezzlement against conservative President Guillermo Lasso, requested by opposition lawmakers over alleged corruption at state companies, can proceed. The decision may make it more likely that Lasso will dissolve the assembly and call early elections for both his post and legislators' seats. Fifty-nine opposition lawmakers formally requested the hearings in mid-March, accusing Lasso of involvement with embezzlement and bribery, which he has always denied. The court's approval enables the assembly to hold the hearings but does not constitute a backing of the claims by judges. The constitution enshrines so-called two-way death - allowing Lasso to call elections for both his post and the assembly instead of facing hearings.

☆ Brazil's Bolsonaro says he will not lead opposition, but will work with his party
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: 1 min

BRASILIA, March 29 (Reuters) - Brazil's former President Jair Bolsonaro said on Wednesday he will not lead the opposition to President Luiz Inacio Lula da Silva, but will collaborate with his political party, the conservative Liberal Party. "I will not lead any opposition. I will help my party as a person with experience," he said. Bolsonaro added he plans to travel across Brazil in an effort to help his party in local elections next year. Reporting by Maria Carolina Marcello; Editing by Sarah Morland and Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Honduras President Castro to visit China after cutting Taiwan ties
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

TEGUCIGALPA, March 29 (Reuters) - Honduran President Xiomara Castro will travel to China "soon," the Honduran foreign ministry said on Twitter on Wednesday, without providing a date for the trip. The announcement came days after China established diplomatic ties with Honduras as the Central American country ended its decades-long relationship with Taiwan. Honduras' foreign minister traveled to China last week, days after Castro tweeted her government would seek to open relations with Beijing, which officially established ties with Honduras on Sunday. Taiwan, left with diplomatic relations with only 13 countries, accused Honduras of demanding exorbitant sums before severing ties. Reporting by Gustavo Palencia; Writing by Brendan O'Boyle; Editing by Anthony Esposito and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Peru prosecutors probe president, ex-president for alleged money laundering
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

LIMA, March 28 (Reuters) - Peruvian prosecutors are investigating President Dina Boluarte and former president Pedro Castillo for allegedly laundering money as part of a criminal organization, the attorney general's office said on Twitter on Tuesday. The probe into the alleged crimes by Boluarte and Castillo is part of an ongoing investigation into alleged campaign finance crimes committed during Peru's 2021 presidential race. Castillo was removed from office in December after attempting to dissolve Congress before an impeachment vote. Boluarte over the weekend denied receiving illegal campaign contributions and said corruption accusations were a "political maneuver" seeking to undermine her government. Boluarte is also currently under investigation for her alleged role in the deaths of protesters killed in clashes with security forces in the months after she took office.

☆ Ride-hailing app Cabify raises $110 mln for expansion in LatAm, Spain
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, March 28 (Reuters) - Spanish ride-hailing app Cabify has raised $110 million in financing aimed at accelerating its growth in Latin America and Spain, the company said on Tuesday. Cabify closed the funding round with participation from investors like Orilla Asset Management and AXIS, through Fond-ICO Next Tech. In December Cabify secured a 40 million euro loan from the European Investment Bank aimed at purchasing electric vehicles. The company aims for all rides through its app to be in zero-emission vehicles by 2025 in Spain and by 2030 in Latin America. With over 42 million registered users and 1.2 million drivers, Cabify employees over 1,000 people in Spain and Latin America.

☆ At least ten dead after fire at migrant facility in Mexico's Ciudad Juarez - sources
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: 1 min

CIUDAD JUAREZ, Mexico, March 28 (Reuters) - At least 10 people died after a fire at a migrant facility in Mexico's Ciudad Juarez, near the U.S. border, two sources with the local government told Reuters. Volunteer rescue workers put the figure of deceased at 37, plus many more injured. Reporting by Jose Luis Gonzalez in Ciudad Juarez and Lizbeth Diaz in Mexico City; Writing by Brendan O'Boyle; Editing by Anthony EspositoOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "O'Boyle"

25 mentions found