EXCLUSIVE How Latin American firms use social media
Companies in the region report higher return of investment than Europe or North America
A study by Tata Consulting services showed Latin Americans are the world’s second-most active social media users, and are more likely to report a higher return on investment in social media use than users in Europe or North America. Latin Business Chronicle spoke with the firm's president Satya Ramaswamy about the study's finds, and how Latin American companies are using social media to improve their bottom line.
América Móvil scraps plans to purchase Dutch firm KPN
Both companies' shares were up after the announcement
Mexican telecoms company América Móvil said it has abandoned plans to purchase Dutch carrier KPN. América Móvil faced a major setback in the deal after the KPN Foundation said in August the takeover attempt was hostile. América Móvil said it decided not go through with KPN's offer of $3.27 a share, or $9.8 billion, which some shareholders thought undervalued the Dutch carrier, the Washington Post reports.
Boeing sees $10 billion deals in region
Pacific Alliance countries to drive demand
Boeing is expecting Latin American countries to make orders worth $10 billion over the next years, according to the company's business development vice president, Roberto Valla. According to Valla, Mexico, Colombia, Chile and Peru are the key markets that will help drive the demand. “Those aren't the only countries where we see opportunities, but we do see at least in the near term, probably the greatest needs in those four customer communities.” he said, Bloomberg reports.
Repsol in talks with Venezuela for $1.2 billion venture with PDVSA
Deal is aimed at increasing joint venture's output by 75,000 barrels per day
Spain's Repsol is discussing a financing deal worth $1.2 billion for a joint ventyre with Venezuela's state-owned oil company PDVSA. The announcement was made by Venezuelan Petroleum Minister Rafael Ramírez during a visit by Repsol CEO Antonio Brufau. According to Ramírez, the deal is aimed at increasing the joint venture's output by 75,000 barrels per day, Reuters reports.
Brazil's Pão de Açúcar profits surge 70 percent in third quarter
The company's cash and carry stores are expanding as Wal-Mart retreats
Brazilian retailer Pão de Açúcar beat analysts' forecasts by reporting a surge in sales of 70 percent in the third quarter, compared to the same period last year. The company said profits in that period reached $165 million. Cutting administrative costs in its supermarket division and streamlining its home furnishing distribution business helped boost profits, the company said, Reuters reports.