Dimon Prevails as JPMorgan Defeats CEO/Chair Proposal
Central America
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Will Landers, BlackRock, explains why he believes investment prospects remain positive south of the border.
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ZURICH, Dec 12- Swiss chocolate maker Barry Callebaut is buying the cocoa business of Singaporean group Petra Foods to reduce its dependence on West African beans as it expands in emerging markets.
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*Industrial output -0.9 pct vs poll -0.25 percent. MEXICO CITY, Dec 12- Mexico's industrial output fell more than expected in October as the global slowdown dragged on a key growth sector in Latin America's No. 2 economy.
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Iran, its main rival within OPEC, has been sidelined by sanctions. Saudi officials make a show of consulting with OPEC, but the kingdom is the undisputed swing producer, and all important production decisions are being made in Riyadh.
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LONDON, Dec 12- HSBC takes its name from its roots as the Hongkong and Shanghai Banking Corporation, but there has long been a joke inside and outside the firm that the name stands for "How Simple Became Complicated".
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*Barry Callebaut shares drop 2 pct. ZURICH, Dec 12- Swiss chocolate maker Barry Callebaut is buying the cocoa business of Singapore's Petra Foods to reduce its dependence on West African raw materials as it expands in emerging markets.
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*Barry Callebaut flags up to 25 mln Sfr integration costs. ZURICH, Dec 12- Barry Callebaut said on Wednesday it would buy the cocoa ingredients business of Singapore- based Petra Foods for $950 million in cash, making the Swiss firm the world's largest processor of cocoa.
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AUCKLAND, Dec 12- U.S.-led talks in New Zealand on a free trade deal for the Asia-Pacific region have made some progress but have a long way to go to reach a pact to dismantle entrenched trade barriers by the end of next year, the negotiators said on Wednesday.
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GENEVA, Dec 12- Panama filed a dispute against Argentina at the World Trade Organization on Wednesday, alleging the government of Cristina Fernandez had broken WTO rules by discriminating against imports of goods and services.
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GUAYAQUIL, Ecuador, Dec 12- Ecuador's leftist government has provided little more than a "fast-food menu" of predictable socialist policies that need to be replaced with lower taxes and help for private companies, top opposition presidential candidate Guillermo Lasso said in an interview.
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NEW YORK, Dec 11- A large portion of American consumers now know about the "fiscal cliff" and a sizeable number of them expect the debate over it to curb their holiday spending, according to the chief executive of Wal-Mart Stores Inc.. Wal-Mart, the largest retailer in the United States and the world, polls its shoppers regularly.
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*HSBC CEO apologizes, admits to breakdown of controls. *$881 mln in drug traffic proceeds laundered through HSBC.
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HONG KONG, Dec 12- Hong Kong shares were set for a firmer start on Wednesday after a strong showing on Wall Street, while increased merger activity encouraged investors back into the market.
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BRUSSELS, Dec 11- EU lawmakers approved free-trade accords with Colombia, Peru and six Central American nations on Tuesday, giving them permanent access to the EU's 500 million consumers and offering the EU's stagnant economy new markets for its cars and luxury goods.
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BEIRUT- Syrian rebels clashed with forces loyal to President Bashar al-Assad near Damascus airport on Tuesday, battling for the capital's outskirts after 20 months of conflict which the United Nations said has driven half a million people from the country.
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It will be very difficult to close... we've done it before, "Kirk said, referring to other trade pacts the United States has concluded. The United States and 10 other countries involved in the Trans-Pacific Partnership talks are wrapping up their 15th round of negotiation on Wednesday in Auckland, New Zealand.
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*Brazil, Argentina, domestic demand seen boosting growth. SANTIAGO, Dec 11- The economy of Latin America and the Caribbean will likely grow by 3.8 percent in 2013, less than previously forecast, as slower growth in Mexico weighs against a recovery in Brazil, Argentina and the region's brisk domestic demand, the United Nations said on Tuesday.
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BRUSSELS, Dec 11- EU lawmakers approved free-trade accords with Colombia, Peru and six Central American nations on Tuesday, giving them permanent access to the EU's 500 million consumers and offering the EU's stagnant economy new markets for its cars and luxury goods.
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OTTAWA, Dec 11- The Bank of Canada needs to fill a vacancy on its rate-setting council to replace Jean Boivin who stepped down as deputy governor in October, in a final hiring decision before Governor Mark Carney leaves to head the Bank of England. *DAVID WOLF, ADVISER, BANK OF CANADA: Joined the bank in 2009 when he was appointed as an adviser.
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*Diageo had been expected to buy a stake in $3 bln Cuervo. *Sauza maker Beam may feature on Diageo shopping list. LONDON, Dec 11- Diageo, the world's biggest spirits maker, has pulled out of long-running talks to buy a stake in top-selling tequila brand Jose Cuervo in a surprise move that could slow its race into fast-growing emerging markets.
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Dec 11- HSBC Holdings Plc is expected to become the first bank to admit to both money-laundering lapses and U.S. sanctions violations on Tuesday as part of a settlement of around $1.8 billion with law enforcement agencies, according to people familiar with the situation.