Mexico Cuts Interest Rate to 10.75% in Divided Vote, But Sees Higher Inflation

Mexico's central bank lowered its benchmark interest rate in a divided vote to 10.75%, the monetary authority said on Thursday, cutting the key borrowing rate from 11.00% but also signaling that it expects prices to rise higher than previously expected, Reuters reported. Three members of the bank's board voted to lower the rate by 25 basis points, while two others sought to hold it steady, according to a statement announcing the decision. In its statement, the bank noted it expects inflationary pressures in Latin America's No.
Mexico
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U.S. Jury Convicts Mozambique’s Ex-Finance Minister Manuel Chang in ‘Tuna Bonds’ Scandal That Roiled Nation's Economy

Former Mozambican Finance Minister Manuel Chang was convicted Thursday in a financial conspiracy case that welled up from from his country's “ tuna bond ” scandal and swept into a U.S. court, the Associated Press reported. A federal jury in New York delivered the verdict. Chang was accused of accepting payoffs to put his African nation secretly on the hook for big loans to government-controlled companies for tuna fishing ships and other maritime projects.
Mozambique
United States
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Canadian Railroads Again Face Possible Strike After Labor-Board Ruling

Canada’s labor-relations board again opened the door to a possible work stoppage at the country’s two big rail operators after determining a strike or lockout doesn’t pose an immediate or serious danger to safety or public health, the Wall Street Journal reported. The Canada Industrial Relations Board, in a decision Friday, ordered a 13-day cooling-off period between the freight railroads—Canadian Pacific Kansas City and Canadian National Railway—and Teamsters Canada Rail Conference.
Canada
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