Latin America

Exxon quits drilling in Brazil after failing to find oil – WSJ

Reuters | April 5, 2023

(Reuters) -Exxon Mobil Corp has ended a major campaign to find oil in Brazil, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.  Exxon said in an e-mail to Reuters its initial exploration drilling program in Brazil is now complete and that it is “still engaged in Brazil and continues to […]

Nearshoring bets boost Mexican real estate, transport shares 

Reuters | April 4, 2023

By Isabel Woodford MEXICO CITY (Reuters) – Investors optimistic about a potential Mexican nearshoring boom have been scooping up stocks in local real estate, transport companies and banks, analysts say, in a bid to cash in on the wave of U.S businesses setting up shop over the border. The trend has seen increasing numbers of […]

JPMorgan says it is not liable for top banker’s ties to Jeffrey Epstein

Reuters | February 23, 2023

By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase & Co on Wednesday said it should not be held liable for a former top executive’s relationship with Jeffrey Epstein in a lawsuit accusing the largest U.S. bank of facilitating its former client’s sex trafficking enterprise. In a filing in Manhattan federal court, JPMorgan said emails […]

Venezuelans say credit cards that were once lifeline now ‘useless’

Reuters | February 13, 2023

By Mayela Armas CARACAS (Reuters) – Credit cards are becoming increasingly useless in Venezuela because of high inflation and government restrictions, hurting people already struggling to meet daily needs on low salaries, banking industry sources, analysts and consumers said. The country’s government imposed strict lending requirements during Venezuela’s economic collapse – allowing banks to lend […]

Stop blaming The Bahamas for FTX collapse, foreign minister says

Reuters | December 16, 2022

By Jasper Ward and Brian Ellsworth (Reuters) – The Bahamas should not be blamed for the collapse of bankrupt cryptocurrency platform FTX, the country’s foreign minister said on Friday, following repeated accusations by FTX management of alleged misconduct by the Caribbean nation’s authorities. FTX lawyers on Wednesday said they “do not trust” the Bahamian government, […]

Exclusive-How a secret software change allowed FTX to use client money

Reuters | December 14, 2022

By Angus Berwick, John Shiffman and Koh Gui Qing (Reuters) – In mid-2020, FTX’s chief engineer made a secret change to the cryptocurrency exchange’s software. He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off […]

South American fans bite their nails over World Cup chances – and inflation

Reuters | November 6, 2022

By Gabriel Araujo SAO PAULO (Reuters) – In South America, home to the some of the world’s starriest soccer players from Argentina’s Lionel Messi to Brazil’s Neymar, avid fans are starting to get jitters about their countries’ World Cup chances – and the rising cost of supporting them. The region of about 650 million people […]