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Business Central America

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  • MEXICO CITY, Aug 4- Mexican miner Penoles said on Tuesday its net profit rose 42.5 percent in the second quarter as gold production increased and net financial costs fell. Refined gold production increased more than 9 percent, Penoles said. Although most metal prices declined, Penoles said the depreciation of the peso "mitigated the adverse effects" of lower...

  • WASHINGTON, Aug 3- In the weeks leading up to a critical annual U.S. report on human trafficking that publicly shames the world's worst offenders, human rights experts at the State Department concluded that trafficking conditions hadn't improved in Malaysia and Cuba. And in China, they found, things had grown worse. As a result, not only Malaysia, Cuba and China, but...

  • MEXICO CITY, Aug 3- Mexican companies warn they will have to raise prices if a steep slide in the peso currency persists, adding pressure on the central bank to hike interest rates despite a weak economy. Price hikes by manufacturers could push service providers to follow suit, unleash demand for higher wages and undo Mexico's success in bringing down inflation.

  • Mexico City officials said Sunday they are pursuing all lines of investigation in the death of Ruben Espinosa, whose tortured body was found along with four slain women in an apartment in Mexico's capital. Espinosa fled Xalapa, the capital of the Gulf Coast state of Veracruz, for Mexico City in June after he said that unknown people were following him, taking his...

  • MEXICO CITY— Mexico's largest pet store chain has agreed to stop selling 47 species of birds and other animals native to Mexico, 18 of which are considered at risk or in danger of extinction. The Maskota store chain also has agreed with the government to stop selling 154 non-native species, 138 of which are considered invasive if released into the environment.

  • MEXICO CITY— Residents of a heavily Indian area have approved the installation of a huge wind power project in the Isthmus of Tehuantepec in southern Mexico, the Oaxaca state government said Friday. The company behind the project and the Oaxaca government teamed up to offer residents an average 45 percent reduction in power costs. Hundreds of wind power...

  • MEXICO CITY, July 31- Mexican energy infrastructure firm IEnova, a unit of U.S.-based Sempra Energy, said on Friday it will buy out the 50 percent stake in the pipeline company Gasoductos de Chihuahua owned by Mexican state-run oil company Pemex. Gasoductos de Chihuahua's assets include three natural gas pipelines, including part of the cross border Los...

  • July 31- The U.S. Food and Drug Administration said it is investigating the latest outbreak of cyclosporiasis in the United States. The Centers for Disease Control and Prevention has been notified of about 358 confirmed cases of the infection until Thursday, the FDA said in a statement on its website. Wal-Mart Stores Inc and Kroger Co are pulling some cilantro...

  • Mexico ups dollar auction to $200 million to boost peso Thursday, 30 Jul 2015 | 2:58 PM ET

    MEXICO CITY— Mexico's central bank said Thursday it will increase dollar auctions from $52 million to $200 million per day through the end of September to stabilize the badly weakened peso. The Bank of Mexico also announced it would lower the level of currency market volatility needed to trigger the auction of an additional $200 million.

  • GRAPEVINE, Texas— A man blamed for a security breach at Dallas-Fort Worth International Airport allegedly slipped onto a jet to try to stop his girlfriend from leaving. A DFW airport police report released Tuesday says Damarias Cockerham of Garland faces a criminal trespass charge. Police say Cockerham ran onto American Airlines Flight 1013, boarding for...

  • Controladora Vuela misses 2Q profit forecasts Monday, 27 Jul 2015 | 5:57 PM ET

    SANTA FE, Mexico _ Controladora Vuela Compania de Aviacion SAB. de CV on Monday reported second-quarter net income of $23 million, after reporting a loss in the same period a year earlier. The Santa Fe, Mexico- based company said it had profit of 22 cents per share. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 24...

  • July 24- The U.S. Department of Justice has expanded its money-laundering probe to Citigroup Inc's Mexican unit, Bloomberg reported on Friday. Citigroup's Banamex USA unit was already under investigation by U.S. regulators for possible breaches of anti-money laundering laws. The latest investigation looks at whether Citigroup let customers move illegal...

  • DESERT CENTER, Calif.— Construction crews have been laboring around the clock to meet a Friday deadline for the partial reopening of about 50 miles of Interstate 10 through the California desert that was closed when flash flooding damaged several bridges. The California Department of Transportation said limited traffic would resume at noon— five days after...

  • UPDATE 2-Citi to shut Banamex USA, pay $140 mln fine Wednesday, 22 Jul 2015 | 3:56 PM ET

    July 22- Citigroup Inc said it would shut its Banamex USA operations and pay $140 million to regulators who alleged the bank did not correct weaknesses they had found in 2012 in its anti-money laundering programs. California- based Banamex USA is an affiliate of Banco Nacional de Mexico, which Citigroup bought in August 2001. The payment, the largest by a bank to...

  • DIARY-Emerging Markets Economic Events to Aug 4 Tuesday, 21 Jul 2015 | 8:01 PM ET

    PRETORIA- South African Reserve Bank interest rate decision- 1300 GMT. ANKARA- Central Bank of Turkey to hold monetary policy committee meeting to set interest rates. JERUSALEM- Bank of Israel interest rate decision- 1330 GMT.

  • WASHINGTON/ ST. LOUIS, July 21- The Federal Reserve told China Construction Bank Corp to do more to fight money laundering on Tuesday, in the first ever enforcement action by the U.S. central bank against one of China's four largest state-owned banks. Mildred Harper, chief compliance officer for CCB's New York branch, confirmed the enforcement action.

  • WASHINGTON, July 21- The Federal Reserve on Tuesday told China Construction Bank Corp to ramp up its anti-money laundering framework, the first enforcement action by the U.S. central bank against one of China's four largest state-owned banks. It is the first time the Fed has taken an enforcement action against CCB, according to the Fed's website, where a database...

  • MEXICO CITY, July 20- Mexican state oil company Pemex reached a $295 million settlement with a group including German industrial conglomerate Siemens in a longstanding dispute over a refinery project, a person familiar with the matter said on Monday. The dispute involved Conproca, a Mexican joint venture between Siemens and South Korea's SK Engineering&...

  • Refiners made billions by turning half of that extra supply into products such as gasoline and diesel that could be freely exported to countries including Brazil and Colombia. That is equivalent to the combined imports by Brazil and Ecuador, two of the biggest buyers of U.S. fuel, in the first four months of the year. To be sure, struggling economies, such as...

  • MEXICO CITY, July 16- OHL Mexico said on Thursday that audits it commissioned after becoming embroiled in a corruption scandal showed that the terms of two concessions it holds comply with the law. The audits, which the board asked consultants KPMG and FTI Consulting as well as law firm Jones Day to carry out, looked at two highway concessions in the State of Mexico...