EXCLUSIVE 2014 Corporate Outlook
LBC provides the profit and revenue forecasts of 50 large Latin American companies
This year will be interesting in terms of revenue and profit growth for Latin American companies. The latest Revenue Forecast, which measures the revenue and profit forecasts of 50 large, publicly-traded, non-financial firms, shows that industries are expected to grow 5 percent this year, a promising figure compared to last year's contraction of 0.8 percent, Latin Business Chronicle reports.
Mexico's Grupo Bimbo acquires Canada Bread Company
Transaction, subject to regulatory approval, is worth $1.66 billion
Mexico's Grupo Bimbo agreed to purchase Canada Bread Company for $1.66 billion. The deal, subject to regulatory approval, is part of Grupo Bimbo's global growth strategy, and will help expand its presence into Canada and the United Kingdom, as well as add to its distribution network in the U.S., Fox News Latino reports.
Etihad to reveal regional partners
Emirates-based airline seeks to grow in Latin America
Emirates-based Etihad Airways, the Middle East's third largest airline, is preparing to unveil a series of Latin American partnerships, CEO James Hogan (left) said. The partnerships are part of the company's expansion plan, and will allow the carrier to offer services in the region without deploying its own aircraft. "We'll shortly announce partnerships with a number of South American airlines," Hogan said, Businessweek reports.
Panama Canal reaches agreement over expansion dispute
Sacyr-led consortium accepted 'in principle' it will not receive funding outside contract terms
The Panama Canal Authority announced it reached an agreement with Spanish-led construction consortium GUPC over a cost overrun dispute which stalled expansion work on the waterway. But Jorge Quijano, head of the Canal authority, said the agreement was only "in principle," and that getting other companies to finish the project remains an option, Bloomberg reports.
Mexico in talks with China to create joint infrastructure fund
Size of the fund is still being discussed, deputy Finance Minister Fernando Aportela said
Mexico and China are discussing a joint project that would fund infrastructure projects in Mexico, according to deputy Finance Minister Fernando Aportela. Last year, President Enrique Peña Nieto said his government expected to spend some $300 billion in infrastructure projects from 2013 to 2018, Reuters reports.
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