America Movil profit grows sevenfold

Mexican billionaire Carlos Slim’s telecoms company America Movil posted a sevenfold increase in first-quarter net profit on Tuesday, beating analyst expectations as the peso appreciated against the dollar and euro. Quarterly net profit at Latin America’s biggest telecom company jumped to $1.91 billion, up from the $252 million from the same period a year before. America Movil’s results, which followed its biggest loss in 15 years in the fourth quarter, were helped by the Mexican peso’s recent rally. Nasdaq reports.    Mexico talks tough on Trump with NAFTA talks looming Mexico’s government on Tuesday said it would fight any measures in a U.S. tax overhaul that broke international trade rules, and threatened to review cross-border cooperation on migration and security […]

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