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  • BUENOS AIRES, Aug 20- Argentine President Cristina Fernandez said on Thursday she was sending a draft law to Congress making it harder for the government to sell state stakes in local firms, two months before elections seen bringing a more market-friendly leader to power. With Fernandez barred from a third consecutive term, the two main candidates are her...

  • MEXICO CITY, Aug 20- Mexican economic growth picked up in the second quarter as the services sector expanded at its fastest pace in a year, offsetting flat industrial output hit by wobbling exports and sinking oil production. Services picked up to 0.9 percent growth from 0.7 percent in the prior quarter, its fastest pace since the second quarter of 2014. But...

  • MEXICO CITY— The Mexican Treasury Department on Thursday lowered its economic growth forecast for 2015 to between 2 percent and 2.8 percent. Treasury Deputy Secretary Fernando Aportela said the economy was limited in the second quarter by disappointing industrial activity in the United States, which accounts for 80 percent of Mexico's international...

  • Flamboyant Trump evolved into cautious businessman Thursday, 20 Aug 2015 | 11:42 AM ET

    NEW YORK— Donald Trump sells himself as a bold empire builder, the kind of businessman who could force through big changes in Washington as president. But that's not his money, "says Don Peebles, a real estate developer who oversees a $5 billion real estate portfolio. In the past decade, Trump has struck deals to put his name on at least a dozen properties built and...

  • MEXICO CITY— Authorities in northern Mexico found 63 children between the ages of 8 and 17 working long hours in miserable conditions at a vegetable packing company, officials said Thursday. The state government in Coahuila, which borders Texas, said the minors told authorities they had only a half-day off each week and were paid 100 pesos a day, slightly higher...

  • Oil’s latest casualty: Mexico Thursday, 20 Aug 2015 | 9:04 AM ET

    "Another disappointing year" looms for Mexico, with growth hit by the rout in the oil price and falling crude production.

  • ADDIS ABABA, Aug 20- Ethiopian Airlines is powering ahead with a plan to expand its fleet and route network after exceeding its profit target for the 2014/ 15 year, its chief executive said in an interview. Ethiopian Airlines flew six million passengers in the prior year, up from 5.22 million in 2012/ 13.. Ethiopian Airlines plans to increase revenue to $10 billion by...

  • Mexican peso hits lowest level against the US dollar Wednesday, 19 Aug 2015 | 8:39 PM ET

    MEXICO CITY— The Mexican peso has hit its lowest level ever against the dollar Wednesday, trading an average of 16.52 on the interbank market, the Bank of Mexico said. The decline, the latest in a string of new lows this year, is due to pressure from falling oil prices and an anticipated interest rate hike in the U.S., MetAnalisis consultant Gerardo Copca told The...

  • DIARY- Emerging Markets Economic Events to Sept 2 Wednesday, 19 Aug 2015 | 8:02 PM ET

    JAKARTA, Indonesia- Federal Reserve Bank of San Francisco releases text of speech of President John Williams before the Bank Indonesia-BIS Research Conference in Jakarta- 0645 GMT. SEOUL, South Korea- Federal Reserve Bank of Minneapolis President Narayana Kocherlakota speaks before the "Macroeconomic Policy and Price Measurement Issues in a Low Inflation...

  • LIMA, Aug 19- Any downgrade of Peru's stock exchange to "frontier market" status by index provider MSCI Inc would likely trigger a capital outflow of $1.5 billion to $5 billion within three months, the head of Peru's bourse said on Wednesday. MSCI said last week that it was considering dropping Peru's current "emerging market" classification because of low...

  • SAO PAULO, Aug 19- Brazil's state-run oil firm Petroleo Brasileiro SA said in a securities filing on Wednesday it was not in negotiation to pay a fine to settle criminal and civil investigations in the United States. The law firms report to Ellen Gracie Northfleet, former chief justice of Brazil's Supreme Court and Andreas Pohlmann. Gibson, Dunn& Crutcher LLP said...

  • SAO PAULO, Aug 19- Banco do Brasil SA on Wednesday raised its limits on loan exposure to the nation's largest firms, a sign that President Dilma Rousseff is again using state-controlled lenders to help stem the fallout from a deep recession. Banco do Brasil shares fell almost 5 percent in São Paulo, their biggest drop in a month, amid investor concerns that the...

  • BUENOS AIRES, Aug 19- Argentine wheat output will likely fall this season after record storms lashed the Pampas grains belt, making it difficult for Argentina to compete in a global export market saturated by bumper harvests in western Europe and the Black Sea region. A key supplier of wheat to neighboring Brazil and the world's top exporter of soymeal...

  • Pope: Unemployment causes grave harm to society, family Wednesday, 19 Aug 2015 | 5:34 AM ET

    VATICAN CITY— Pope Francis is denouncing a global labor market that is interested only in profit and warning that unemployment causes enormous damage to society and families. Francis has been speaking out for months about different aspects of family life during his weekly general audiences. Francis, who worked part-time as a teen-ager in Buenos Aires, has...

  • Colombia revisits violent past in Pablo Escobar biopic Wednesday, 19 Aug 2015 | 12:04 AM ET

    More than two decades after he was gunned down, his vast wealth, megalomania and ruthless violence still mesmerize, as evidenced by the attention surrounding Netflix's upcoming series "Narcos" about the cartel boss. So much so that cinema-loving President Juan Manuel Santos agreed to pick up $2 million in production costs so Netflix could film in the country.

  • SAO PAULO, Aug 18- Brazil's OAS Investimentos SA, whose parent company is under creditor protection, has so far received five proposals for a stake in infrastructure company Invepar, with bidders also looking to buy its environment services and oil drilling units, executives said on Tuesday. In June, Reuters reported that Canadian asset manager Brookfield...

  • SAO PAULO— A trade union federation in Brazil says it has asked the Public Prosecutor's Office to investigate the McDonald's franchise holder in Latin America's largest country for allegedly engaging in a series of irregular activities. General Workers Union spokesman Mauro Ramos said on Tuesday that franchisee Arcos Dourados should be investigated for...

  • LA PAZ, Bolivia— A Bolivian judge has rendered a guilty verdict against the owner of the bankrupt Aerosur airline for illicit enrichment and sentenced him in absentia to five years in prison. Judge Nancy Altuzarra also ordered the confiscation of an apartment building and a collection of 55 automobiles belonging to Humberto Roca. In 2013, the FBI arrested a...

  • Muslim scholars call for climate action Tuesday, 18 Aug 2015 | 9:33 AM ET

    The move comes two months after Pope Francis' encyclical on climate change and other environmental issues and ahead of a key U.N. climate conference in Paris in December, where world leaders are supposed to adopt a landmark agreement to fight climate change. About 60 delegates adopted the declaration at the end of the seminar, including leading clerics from...

  • RIO DE JANEIRO/ NEW YORK, Aug 18- Brazil's Petrobras may need to pay record penalties of $1.6 billion or more to settle U.S. criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company's legal advisors told Reuters. State-run Petroleo Brasileiro SA, as the company is formally known, expects to face the largest penalties...