EXCLUSIVE Has Brazil's downgrade been priced in?
Is the market indifferent to S&P’s downgrade?
Today, the market - having supposedly already “priced in” Brazil’s risk - appears indifferent to Standard & Poor’s recent decision to downgrade the country's credit rating. The movee seems not merely ill-timed and wrong, but also harmless. There is, however, another dimension to Brazil’s downgrade. When the external debt was a big issue on the international agenda, the agencies also considered “good will in honoring debts”. This is something that cannot be measured in numbers, LBC reports.
Brazilian President's popularity takes a hit in polls
Survey shows more Brazilians want a change in government policies
Brazilian leader Dilma Rousseff's (left) popularity is steadily dropping as the country's voters are pessimistic about the economy and disappointed with her performance. Rousseff lost six points among potential voters, according to a survey by local polling firm Datafolha. The poll showed more Brazilians want a change of course in government policies, and twice as many Brazilians think Rousseff's predecessor and mentor Luiz Inacio Lula da Silva is more qualified than her to carry out those changes, the Chicago Tribune reports.
Scotiabank to finance $10 billion in Mexico projects
Oil giants BP and ExxonMobil among firms interested in plans
Canada's Scotiabank is planning to finance oil projects in Mexico worth $10 billion over the next four years. Oil giants BP and ExxonMobil are among the companies interested in developing projects in the Gulf of Mexico, Scotiabank's Latin America director, Paul D'Agata said. He added that a large number of medium-sized firms are expected to participate in the huge oil projects, Fox News Latino reports.
Puerto Rico is bridge for Spanish investment
Government seeks to reorient economy toward foreign services
The Government is Puerto Rico is seeking to make the island a bridge for Spanish investment to the U.S. and Latin America, Puerto Rican Secretary of Economic Development and Commerce Alberto Baco said. Among the plans the government is considering are offering fiscal and legal incentives to Spanish investors. The new administration of Governor Alejandro Padilla (left) intends to reorient the Puerto Rican economy toward foreign services, mainly in the banking sector, securities, engineering and computer technology, Baco said, Fox News Latino reports.
Sherwin-Williams calls off bid for Mexico's Comex
Mexican antitrust regulators blocked the $2.34 billion deal
U.S. paint retailer Sherwin-Williams has cancelled its bit to acquire Mexico's operations of Consorcio Comex after Mexican antitrust regulators blocked the deal. Two formal rejections by the antitrust authorities in Mexico and no apparent line of sight into a successful outcome without massive concessions drove the decision to terminate the agreement,” Ghansham Panjabi, a New York-based analyst at Robert W. Baird & Co., said, Bloomberg reports.
Mexico and France seek ways to bolster cooperation Fox News Latino
Peru's metals exports fall 24.5 percent in February Andina
Protests erupt in Venezuela after government charges opposition leader Yahoo
Chile mulls new investment incentives for miners Mining
CorpBanca shareholder Consorcio backs Itaú deal Reuters
Copper titans gather as glut overshadows quakes in Chile Bloomberg