Canadian manufacturing activity increased at the fastest pace in nearly two years in December as inventory accumulation by U.S. clients in anticipation of trade tariffs provided a measure of support for export sales, Reuters reported. The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) rose to 52.2 in December from 52.0 in November, its highest level since February 2023 and the fourth straight month above the 50.0 no-change mark. The average for the PMI in data going back to 2010 is 52.4. A reading above 50 indicates expansion in the sector. U.S.
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Resources Per Country
- Anguilla
- Bahamas
- Barbados
- Belize
- Bermuda
- British Virgin Islands
- Canada
- Cayman Islands
- Costa Rica
- Cuba
- Dominica
- Dominican Republic
- El Salvador
- Grenada
- Guadeloupe
- Guatemala
- Haiti
- Honduras
- Jamaica
- Mexico
- Montserrat
- Netherlands Antilles
- Nicaragua
- Panama
- Puerto Rico
- Saint Kitts and Nevis
- Saint Lucia
- Trinidad and Tobago
- Turks and Caicos Islands
- United States
- United States Virgin Islands
Lawsuits by three firms seeking to improve their chances of obtaining proceeds in an auction of shares in Citgo Petroleum's parent can go ahead, a U.S. judge ruled in an order issued on Monday, Reuters reported. The decision could reduce the proceeds of any sale, the court officer overseeing the auction in federal court in Delaware had said in a motion seeking to block the parallel lawsuits. Shares in Citgo parent PDV Holding are being auctioned to repay $21 billion in claims for debt defaults and expropriations by Venezuela and state oil firm PDVSA. PDV is a U.S.
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Terraform Labs Pte. co-founder Do Kwon will be handed over to the US for prosecution, the government of Montenegro said, potentially ending a standoff over competing extradition demands by the US and Kwon’s native South Korea, Bloomberg News reported. “Most criteria envisaged by the law are in favor of the extradition demands from the institutions of the United States of America,” the Montenegro’s Justice Ministry said in statement posted on its website. It said Minister Bojan Bozovic made the decision on Friday, without specifying when the handover may take place.
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The Canadian economy appeared to lose its strength toward the end of this year even as the central bank cut interest rates at a rapid pace, Bloomberg News reported. Advance data suggested gross domestic product shrank 0.1% in November, the first monthly contraction this year, after a 0.3% expansion a month earlier, Statistics Canada said Monday. The October figure beat economist expectations of 0.2% in a Bloomberg survey.
Mexico’s annual inflation slowed slightly less than expected in early December as services prices remained pressured, supporting the central bank’s cautious stance as it extends interest rate cuts, Bloomberg News reported. Official data released Monday showed that consumer prices rose 4.44% in the first two weeks of December from a year prior, just above the 4.4% median estimate of economists surveyed by Bloomberg and down from the 4.55% reading in late November. Services inflation was the main driver in the period.
The Canadian economy appeared to lose its strength toward the end of this year even as the central bank cut interest rates at a rapid pace, Bloomberg News reported. Advance data suggested gross domestic product shrank 0.1% in November, the first monthly contraction this year, after 0.3% expansion a month earlier, Statistics Canada said Monday. With October’s stronger-than-expected gain and November’s decline, the industry-based data point to the economy growing at a 1.7% annualized pace in the final quarter, assuming December growth is flat.
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After complaints by billionaire Ricardo Salinas Pliego’s companies, prosecutors in Mexico have been seeking the arrest of family members associated with what was one of the country’s biggest shadow banks, Bloomberg News reported. Almudena Lebois, a former board member of Unifin Financiera SAB and daughter of the founder, was arrested late last week on charges of attempted fraud before a state of Mexico judge dismissed the case. Court records show the charges were sparked by allegations from a company owned by Salinas.
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The Canadian Parliament passed legislation last week granting priority status to produce growers and shippers for unpaid product in the event that a buyer of their fruits and vegetables files for bankruptcy, the Produce News reported. The new law, Bill C-280, is similar to the Perishable Agricultural Commodities Act trust amendment that was passed by the U.S. Congress in 1984. For the past 40 years, agricultural advocacy groups in Canada, as well as the United States, have been pushing for similar legislation with no success. In fact, in 2014 the U.S.
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With year-end approaching, two iconic mountain bike brands are making big moves to stay afloat in a difficult market, SingleTracks.com reported. Yesterday, Rocky Mountain announced in a press release that it has filed for protection under the Companies’ Creditors Arrangement Act in Canada in order “to avoid business interruption as much as possible.” “Despite strong demand for its bikes during the pandemic, the Company struggled to secure supplies due to shortages and rising costs,” according to the release.
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Mexico cut interest rates for a fourth straight meeting Thursday as inflation is slowing back to target and the economy is losing momentum, Bloomberg News reported. Banxico, as the central bank is known, lowered borrowing costs by a quarter-point to 10% in an unanimous decision. The move was forecast by 21 of 29 economists surveyed by Bloomberg. The remaining eight predicted that the bank would accelerate the pace of easing with a half-point cut.
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