Central America

Some Canadian premiers are prompting Ottawa to react robustly to the risk of tariffs from incoming U.S. President Donald Trump and have actually highlighted important minerals and metals as products that the U.S. relies on, Canada's Finance Minister said on Wednesday. Canadian Prime Minister Justin Trudeau and other government ministers consulted with provincial premiers to discuss Trump's pledge to enforce steep tariffs on Canadian and Mexican imports after he is sworn in as President in January. That promise has raised worries of a trade war in between the U.S. and two of its biggest trading partners. A variety of premiers...

The following are the leading stories on the business pages of British papers. Reuters has not confirmed these stories and does not guarantee their precision. The Times - National Health Providers managers have alerted that important services will be cut back and A&E departments danger being turned into battle zone to strike a target for routine operations that Sir Keir Starmer will put at the centre of his prepare for federal government today. - Stellantis CEO Carlos Tavares resigned quickly on Sunday, two months after a profit caution at the maker of Jeep, Fiat and Peugeot vehicles that has lost...

Oil producers in Canada and Mexico will likely be required to reduce prices and divert supply to Asia if U.S. Presidentelect Donald Trump enforces 25% import tariffs on unrefined imports from the 2 nations, traders and experts stated. 2 sources acquainted with Trump's strategy informed Reuters that oil would not be exempted from potential tariff hikes on imports from Canada and Mexico, regardless of the U.S. oil industry's cautions that the policy could injure consumers, market and nationwide security. Canada and Mexico are the leading two petroleum exporters to the United States, contributing 52% and 11% of its gross imports,...

Oil producers in Canada and Mexico will likely be required to decrease prices and divert supply to Asia if U.S. Presidentelect Donald Trump imposes 25%. import tariffs on unrefined imports from the 2 countries, traders. and analysts said. 2 sources familiar with Trump's strategy informed Reuters that oil. would not be exempted from possible tariff hikes on imports. from Canada and Mexico even as the U.S. oil market has actually cautioned. the policy might harm consumers, market and national security. The United States represents 61% and 56% of crude exports. from Canada and Mexico, respectively, ship tracking data from. Kpler...

A Mexican judge has stated local steelmaker Altos Hornos de Mexico is bankrupt, ruling that the firm will need to be offered and those funds utilized to pay back debt, following years of crisis connected to corruption allegations, court files revealed on Thursday revealed. Its previous president, Alonso Ancira, was detained in Spain in 2019 in connection with an examination into paying kickbacks to authorities at Mexico's state energy company Pemex in order to offer a fertilizer plant at an inflated cost. According to the court judgment, the personal bankruptcy was stated after the due date for a resolution in...

Mexico's Senate voted to modify the country's constitution late on Wednesday to provide dispatch choices to state electrical power company CFE, cementing the national power generator's preferential status above foreign or personal rivals. The initiative passed the upper chamber of Congress with 86 votes to 39, fulfilling the requirement of two-thirds support to alter the constitution. The constitutional reform will need national grid operator Cenace to prioritize power created from the CFE's. power plants, even if it is more costly than power provided by. private producers. The proposal currently passed the lower house of Congress last. week, with support from...

The following are the top stories in the Financial Times. Reuters has actually not verified these stories and does not guarantee their precision. Headings - Abu Dhabi crosses out 9.9% stake in Thames Water - ENRC drops media leakages suit as SFO gets away paying damages - Activist Elliott says its long-term view on Anglo American is 'very much undamaged' - Europastry's 'frozen croissant' IPO delayed a 2nd time - Kering names former Louis Vuitton executive as Gucci CEO Overview - Abu Dhabi's sovereign wealth fund, one of the largest shareholders in Thames Water, has written off its nearly 9.9%....

Claudia Sheinbaum was sworn in as Mexico's very first woman president on Tuesday, taking the reins at a time the country is fighting with violence from arranged crime and a large deficit in Latin America's No. 2 economy. Sheinbaum, the 62yearold scientist and previous mayor of Mexico City, was inaugurated in a ceremony in Mexico's Congress for a. sixyear term lasting till 2030. Her supporters shouted President! President! and Long. live Mexico! after Sheinbaum took the oath of office in front. of legislators. Political watchers and experts forecast Sheinbaum will urgently. aim to calm investors following the passing of a...

When Wagner Dias and his other half Mariana needed a loan to grow their children's clothing organization, the Brazilian entrepreneurs turned to Argentina's MercadoLibre Inc, the online platform they use to offer their items. MercadoLibre, which is making a push into a progressively congested regional fintech and credit market, currently had the data it required to green-light the loan. The Amazon.com of Latin America has actually used developments like that to cement its status as the area's most important company with a market capitalization exceeding $100 billion. Because they had access to all my app history as a seller and...

2 employees died and another was hurt after a fire broke out over the weekend at the most significant domestic refinery owned and operated by Mexico's. state oil company Pemex, a company authorities said on Monday. The fire broke out on Saturday at the Salina Cruz refinery. in southern Oaxaca state, plant supervisor Arturo Recio informed. press reporters, explaining that a storm triggered the drains filled with. oily waste to overflow into the sidewalks inside the complex. A 21-year-old lady and 26-year-old guy working for Pemex. professionals died, and another man was hospitalized,. Recio stated. He said that work at...

Production at a brand-new refinery owned and operated by Mexico's staterun oil business Pemex will fulfill a fifth of the nation's motor fuel needs within two weeks, President Andres Manuel Lopez Obrador said on Monday. Production from the Olmeca refinery, situated at the Gulf Coast port of Dos Bocas, has been delayed several times considering that its symbolic inauguration in 2022. The center, a signature facilities project of Lopez Obrador, has actually been pitched as vital to the outgoing president's drive to make Mexico self-sufficient in gas and diesel. The refinery's expense has more than doubled to nearly $17. billion....

Mexican state oil company Pemex said on Tuesday it accepted a 5% salary hike and a 2%. increase in benefits with the STPRM oil employees union, saying in. a declaration the boost will apply from August through. next July. Pemex and the STPRM reaffirm their commitment to labor. well-being for the advantage of the oil neighborhood and the. fortifying of the organization, Petroleos Mexicanos, as the. business is officially known, said in a statement. In a different declaration, STPRM stated the increase would. likewise use to pensions and that the agreement reflected STPRM's. determination to reach agreements that permit the...

Newmont's Mexican department said on Wednesday it sees an openness for discussion from the Mexican federal government, in the middle of the suggested increase in mining royalties, which could potentially hinder billions of dollars in financial investments. WHY IT is necessary The suggested boost in mining royalties could obstruct more than $6.9 billion in investments over the next 2 years, according to the country's mining chamber, adding to the obstacles affecting the sector such as previous administrative decisions and possible legal reforms. Newmont, a global leader in gold mining, runs the big Penasquito open-pit cash cow in Mexico which produces...

Arbitration procedures between Canadian miner FrancoNevada and Panama over the Cobre Panama copper mine went into a brand-new phase this week with the development of a tribunal to hear the case, according to legal disclosures submitted by the parties. Financiers are awaiting Panama President Jose Raul Mulino's. decision over the future of the mine, which was closed down last. year due to public unrest. Cobre Panama is the flagship mine of. Canadian miner Very first Quantum Minerals, which is likewise. looking for damages from Panama. FrancoNevada had a streaming contract with First. Quantum to buy gold and copper from Cobre...

Heidelberg Materials has actually struck an offer to buy U.S. business Giant Cement Holding and its subsidiaries for $600 million, it said on Thursday, the current acquisition by the German company to expand its grip in the United States. The deal, to be finished in the first quarter of 2025, is expected to contribute around $60 million in incomes before interest, taxes, devaluation and amortisation (EBITDA). in the first year of operation, before significant additional. synergies, Heidelberg stated in a declaration. The acquisition ... will even more enhance our cement. footprint in the growing Southeastern U.S. and New England. markets,...

Nissan Motor said on Thursday its international production fell for a fifth straight month in October, led by downshifts at most of its production centers except for Mexico. While worldwide sales also dropped for a seventh month, sales in Nissan's core market, the United States, grew for the first time in 3 months. Nissan earlier this month announced strategies to axe 9,000 jobs and 20% of its manufacturing capability internationally to cut costs, after the third-biggest Japanese carmaker behind Toyota and Honda suffered sales slumps in China and the U.S. . The risk of U.S. tariffs is now clouding the...

Chile's staterun copper business Codelco registered its finest production of the year in October, Chairman Maximo Pacheco said on Thursday. The world's leading copper miner has actually been struggling to lift output after hitting historical lows in the last 2 years. Recently, the company reported its production through September had actually fallen 4.9% compared to the exact same period a year earlier. Pacheco did not information how much production totaled up to in October, however stated it surpassed the exact same month in 2015. October was the best month in the year so far, he said in a statement. We...

Reserve banks stay eager purchasers of gold to diversify their reserves for financial or strategic factors, agents of 3 central banks told the London Bullion Market Association's annual conference in Miami on Monday. Raised need for gold from reserve banks underpinned the rate of the non-yielding gold when the worldwide interest rates were high in 2022-2023 and after that decreased with this year's 28%. spot gold price rally. China's reserve bank kept back on buying. gold for a 5th straight month in September. In spite of the gold rally, representatives of reserve banks of. the Czech Republic, Mongolia and Mexico...

Canadian miner First Quantum Minerals expects upgraded drilling results for its Peru copper task La Granja in the 2nd half of next year, and expediency studies by 2028, project development supervisor Steven Lewis stated on Thursday. The drilling is advancing well, it's at 35%, and we expect to have the lead to the 2nd half of next year, Lewis stated on the sidelines of a mining market conference. About the feasibility studies slated for completion by 2028, he said: We're working to satisfy this due date. First Quantum last year bought a 55% stake in the job, which is co-owned...

A committee in Mexico's. lower home of Congress approved two constitutional reforms that. would prohibit openpit mining and fracking, along with restrict. using genetically customized corn. The propositions, handed down Wednesday, will be taken up for. discussion by the full lower home after lawmakers return to. session in September. The modifications would also avoid the exploitation of water in. areas with water scarcity, with the exception of extraction in. inhabited areas for domestic use, according to a statement. launched Wednesday night. The modifications are part of a bundle of constitutional reforms. provided in February by President Andres Manuel Lopez Obrador,....

Barrick Gold stands ready to be a partner on the Cobre Panama copper mine once the Panamanian federal government picks the disputed property's future, Mark Bristow, CEO of the gold and copper mining company, said on Monday. The mine, owned by First Quantum Minerals, has been under dispute since November in 2015 when large public demonstrations caused its closure. The new government led by President Jose Raul Mulino, who took charge in July, has stated the future of the mine - which accounted for about 1% of worldwide copper output and 5% of Panama's GDP - will only be decided...

Ismael El Mayo Zambada, the infamous alleged cofounder of the Sinaloa Cartel, appeared in an El Paso, Texas courtroom in a wheelchair on Thursday after pleading innocent last week to drug trafficking charges following his dramatic arrest. Zambada wore a navy sweatshirt that read carpe diem ( take the day) above a picture of a soccer ball to his very first status conference before U.S. District Judge Kathleen Cardone. At the 10-minute hearing, Cardone informed lawyers she had designated the case as complex - which extends the timeline for trial - and set the next status conference for Sept. 9....

Peru's economic development this year must surpass the 3.1% rate formerly estimated, President Dina Boluarte said in a speech on Sunday, another sign of enhancement as the nation recuperates from an economic crisis last year. Peru's central bank in June projection gdp development at 3.1% for this year, after the economy contracted 0.6%. in 2023. This strong efficiency reflects the durability of the. Peruvian economy. We committed to recovering our growth capacity. and we are on that path, Boluarte said in a speech to Congress. For years among South America's leading performers, Peru's. economy struggled last year in the aftermath...

Panamanian President Jose Raul Mulino stated on Thursday the government will not attend to problems around a significant shuttered First Quantum copper mine until the early 2025. The profitable Cobre Panama mine, one of the world's top sources of copper, was closed down in November hours after the nation's Supreme Court declared its contract unconstitutional. Panama had actually offered First Quantum a 20-year mining right with an option to extend for another twenty years, in return for $375 million in yearly revenue to Panama. Critics state the contract was too generous, and environmental protests versus the mine have actually changed...