Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
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Beijing wants to use reforms to support a slowing economy.China Marketsread more
(Adds details from report)
July 25 (Reuters) - Mexican cement producer Cemex SAB de CV on Thursday posted a 3% fall in quarterly sales, hurt by lower volumes in key markets such as Mexico.
Consolidated ready-mix and aggregates volumes fell 5% and 6% in the second quarter.
Chief Executive Officer Jaime Muguiro said cement demand trends remained positive in Colombia, but it was not enough to offset increases in coal, electricity and distribution costs in Colombia, and weaker markets across Central America.
In Cemex's home market of Mexico, net sales declined by 13% from a year earlier. Cemex said the country's infrastructure market has been influenced by "the termination of important projects last year and a slow start in the execution of this years budget."
Net sales inched up by 4% in the United States on strong demand for infrastructure, driven by spending on roads in certain states.
Monterrey-based Cemex, which operates in more than 50 countries, has been waging a campaign to cut costs and divest to regain its investment-grade rating.
In May, the company signed a final agreement to divest assets in Germany, saying it would use the proceeds for debt reduction and general corporate purchases.
The company's controlling interest net income fell 58.7% to $155 million in the second quarter from $376 million a year earlier.
Total net sales fell to $3.5 billion. (Reporting by Sanjana Shivdas in Bengaluru; additional reporting by Julia Love in Mexico City; Editing by Maju Samuel and Bernadette Baum)