Business News Mexico

  • Aug 20- U.S. producer ConocoPhillips and Venezuela's PDVSA have reached a payment agreement over a $2 billion arbitration, the companies said on Monday, suspending a dispute that blocked the state-run company from exporting oil from most of its key Caribbean facilities. The case relates to the nationalization of Conoco assets dating back over a decade in...

  • Aug 20- U.S. producer ConocoPhillips and Venezuela's PDVSA have reached a payment agreement over a $2 billion arbitration, the companies said on Monday, suspending a dispute that blocked the state-run company from exporting oil from most of its key Caribbean facilities. The case relates to the nationalization of Conoco assets dating back over a decade in...

  • HOUSTON, Aug 20- Venezuela's PDVSA and NuStar Energy LP have reached an agreement over outstanding storage fees, allowing the state-run company to resume use of a key storage terminal in the Caribbean, the U.S. energy firm said on Monday. The terminal played a role in a legal dispute between PDVSA and ConocoPhillips, which earlier this year tried to enforce a $2...

  • MEXICO CITY, Aug 20- Altos Hornos de Mexico, one of Mexico's largest steelmakers, paid $3.7 million to a shell company allegedly set up by Brazilian builder Odebrecht to pay bribes, investigative news site Quinto Elemento Lab reported on Monday. Citing documents from Brazil's Supreme Court, Quinto Elemento reported that AHMSA made three wire transfers to...

  • Aug 20- U.S. producer ConocoPhillips and Venezuela's PDVSA have reached a payment agreement on a $2- billion arbitration award, the companies said, suspending a dispute that blocked the state-run firm from exporting oil from most of its key Caribbean facilities. Venezuela's crude production, a major source of revenue, has fallen to a six-decade low this year as...

  • US officials tout trade progress with Mexico

    CNBC's Kayla Tausche reports on how trade talks are progressing between the U.S. and its trade partners, including Mexico, China and the European Union.

  • Aug 20- U.S. producer ConocoPhillips on Monday said Venezuela's PDVSA agreed to pay $2 billion to settle an arbitration award, suspending a dispute that blocked the state-run oil firm from exporting crude from most of its key Caribbean facilities. Venezuela's crude production, a major source of revenue, has fallen to a six-decade low this year as lack of cash for...

  • Mexican Secretary of Economy Ildefonso Guajardo Villarreal looks on during a press conference at the conclusion of the fourth round of negotiations for a new North American Free Trade Agreement (NAFTA) at the General Services Administration headquarters in Washington, DC, on October 17, 2017.

    Trump economic advisor Kevin Hassett says Canada is going to want in on the trade deal that U.S. negotiators are on the verge of crafting with Mexico.  

  • MEXICO CITY, Aug 19- German carmaker Volkswagen AG has agreed to a 5.5 percent salary increase for workers in Mexico and another raise for next year, the company's Mexican union said, averting a potential strike. The deal for workers of Europe's biggest carmaker was reached after two weeks of negotiations, the SITIAVW said. Volkswagen's operations in Mexico are...

  • BUENOS AIRES- Central Bank of Argentina releases monetary policy statement WARSAW- National Bank of Poland holds monetary policy council meeting. BUDAPEST- Hungarian Central Bank holds its rate-setting meeting- 1200 GMT. SYDNEY- Reserve Bank of Australia will release the minutes of August monetary policy meeting 0130 GMT.

  • CARACAS/ MARACAIBO, Aug 17- Jittery Venezuelans on Friday rushed to shops and lined up at gas stations on concerns that a monetary overhaul to lop off five zeros from prices in response to hyperinflation could wreak financial havoc and make basic commerce impossible. Shoppers sought to ensure their homes were fully stocked with essentials such as food and dry...

  • MEXICO CITY, Aug 17- Mexico's incoming government on Friday postponed a decision on whether to complete a new Mexico City airport, saying the public should be consulted on the fate of the $13 billion-dollar hub, which the next president had initially opposed. However, a significant amount of work has been completed on the ambitious project, making a decision to...

  • SAO PAULO, Aug 17- Mexico's peso firmed on Friday after U.S. and Mexican officials said they were close to settling differences in NAFTA trade talks, while Brazilian equities slid on presidential race jitters. Mexico's peso shook off losses to gain about 0.6 percent after a top White House economic adviser said on Friday that Washington was "very, very close" to...

  • MEXICO CITY— After vowing on the campaign trail to scrap an ambitious new airport being built for Mexico City, President-elect Andres Manuel Lopez Obrador said Friday that the fate of the $15.7 billion project should be decided by the nation's people. Lopez Obrador, who is to take office Dec. 1, said at a news conference that he will ask the current president to hold...

  • Mexico's economy minister: Several NAFTA items to be resolved

    CNBC's Kayla Tausche reports the latest on the progress of NAFTA negotiations.

  • Perry spoke to reporters Wednesday in Mexico City after meeting with Lopez Obrador's pick to become Mexico's energy secretary, Rocio Nahle. Last month, Lopez Obrador announced a $16 billion investment plan to increase Mexico's oil production, refinery capacity and electrical generation. Lopez Obrador, who takes office Dec. 1, wants Mexico to stop buying...

  • Lighthizer: Hopes for NAFTA breakthrough in next few days

    CNBC's Eamon Javers reports on U.S Trade Representative Robert Lighthizer's conversation with President Trump on NAFTA at a White House Cabinet meeting on Thursday.

  • Larry Kudlow

    Kudlow says U.S. Trade Representative Robert Lighthizer is "more optimistic than I've seen him in many moons."

  • MEXICO CITY, Aug 15- Mexico's economy minister on Wednesday said that Mexico and the United States may not meet an August goal to finish bilateral talks to revamp the NAFTA trade deal, which is beset by disagreements over automobile trade rules and other issues. The U.S.- Mexico talks resumed in July, without Canada, after negotiations involving all three...

  • Aug 15- A currency crisis in Turkey has led to fears of a contagion effect in emerging markets as far as Latin America, with potential repercussions for companies holding large amounts of dollar-denominated debt. "When there is a steep depreciation we see pressure in credit measures," said Marianna Waltz, managing director at Moody's in Brazil.