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January 15, 2014

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EXCLUSIVE interview: Fernando Fondevila, Copa Airlines

At the Latin Trade Symposium, held last October in Miami, LBC interviewed Fernando Fondevila Leyton, Regional Manager for North American Sales at Copa Airlines. Fondevila, discusses what separates the company from the competition, as well as the benefits the firm offers to its customers.

Coca-Cola Femsa declines to seven-week low on junk food tax
Company's shares dropped 1.8 percent to $11.53 

Mexico's junk food tax has caused Coca-Cola Femsa shares to drop to a seven-week low, as sugary drinks become more expensive. The company's shares dropped 1.8 percent to $11.53 at the close of trading in Mexico City, the lowest since November 26. The tax increases the price of sugary drinks by 13 or 14 percent, said Corporativo GBM analyst Karla Miranda, Bloomberg reports.

Ford cuts production in Venezuela
Shortage of U.S. dollars in the country hits firm's operations

Ford Motor Co. is cutting down production in Venezuela as the country faces a shortage of dollars. "The availability of U.S. dollars is crimping our ability to pay suppliers,” Chief Operating Officer Mark Fields said. Ford's output dropped 75 percent in the fourth quarter last year, while car sales in Venezuela dropped 64 percent in December from a year before, according to the country's Automotive Chamber of Commerce, Businessweek reports.

Argentina inflation to reach decade-high this year, analysts say
Consumer prices seen rising up to 30 percent

Consumer prices in Argentina will rise some 30 percent this year, the highest rate since 2002, according to analysts. The Argentine government says consumer prices rose 10.5 percent last year, however private analysts say inflation is running at more than twice the official rate. Argentina is second only to Venezuela in the region in terms of consumer price rates, Reuters reports.

Brazil gives green light to Oi merger with Portugal Telecom
Resulting company CorpCo will compete against Telefónica, América Móvil and TIM

Brazil's competition watchdog Cade has approved the merger of Grupo Oi and Portugal Telecom with no restriction. The two telecom carriers announced in October last year their plans to combine their operations to form a new company with more than 100 million subscribers and almost $19 billion in annual revenue, Reuters reports.

MOREOVER

Peru and Turkey to start second round of free trade talks Andina

McDonald's agrees to cut the price of a Venezuelan Big Mac Combo Bloomberg 

U.S. top court rules for Daimler in Argentine human rights case GlobalPost

Peru to speed up issuance of telecoms infrastructure permits Andina

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