Industries and markets

Chevron completes purchase of controversial Petrobras refinery in Houston

“Chevron Corp completed a US$ 350 million purchase of a refinery in the Houston suburb of Pasadena, Texas, from Brazil’s Petrobras, Chevron said in a statement. The sale was agreed to in January, but Chevron

Ford agreement with workers for a friendly shutdown of its historic plant in Sao Paulo

“The agreement would allow for Ford’s workers to transition from employment with the U.S. automaker to a potential buyer, if a deal closes. The pact includes an exit package for workers, although the details have

Brazil plans to slash funding of universities by 30 percent

“Education Minister Abraham Weintraub first told the newspaper O Estado de S. Paulo on Tuesday that he had cut the budget of three federal universities — Brasilia, Bahia and Fluminense — because of their ideological

AMLO defends start of Maya Train tender process without finishing consultation

“Starting the bidding process on the Maya Train project is valid even though the consultation of indigenous communities has not been completed, President López Obrador said today.”

Mexican Senate passes labor overhaul to ensure union freedom

“Mexico’s Senate approved a labor law overhaul Monday night aimed at ensuring workers can freely vote for their union representation and contracts.”

Brazil: Senate plans Income Tax Reform

A draft law aimed at reforming the income tax law has been introduced this week in the Brazilian Senate. Specifically, it proposes to introduce taxation on dividends, reduce the corporation tax and free low income

Argentine Peso gains strength as IMF agrees to more central bank flexibility

“The peso began the session up 3.37% and closed 3.56% stronger at 44.37 per U.S. dollar.”

Brazil’s central government finances tend to improve

“Brazil’s central government’s primary budget deficit narrowed in March thanks to aggressive cuts in discretionary spending, the Treasury said on Monday, although it warned that public finances were still at risk from pension commitments and

Mexico bans Odebrecht from federal contracts for 3 years

“In a statement Friday, the comptroller’s office said the subsidiary was sanctioned for presenting false information in modifying a contract. Odebrecht was sanctioned for excessive charges to Pemex’s refining arm.”

Major strike in Argentina – unions divided

“A national strike will halt much of shale-rich Argentina’s economy on Tuesday amid growing investor concern that market-oriented president Mauricio Macri will lose a bid for re-election in October, swinging Argentina back toward state intervention.”