Latin America

U.S. authorities have reportedly launched a criminal probe into whether Citi ignored warning signs about the $400 million fraud that took place in the banking giant’s Mexican division.

A federal grand jury is looking into Citigroup's compliance with the U.S. Bank Secrecy Act and anti-money laundering regulation.

Shares of Constellation rallied in response to a preliminary deal with the DOJ over the $20.1 billion sale of Grupo Modelo.

Souring prospects in the world's largest emerging markets are darkening an already cloudy outlook for the global economy, the World Bank said on Wednesday, as it cut growth forecasts for the third straight year.

OPEC has, so far, held its ground during a steep drop in global oil prices. But with crude now hitting six-year lows, industry watchers are wondering if the oil cartel may finally blink.

Fears about the health of emerging markets have zeroed in on Argentina, which is grappling with steep inflation and dwindling foreign-exchange reserves.

The World Bank said remittances by migrant workers to the developing world are set to rise 6.3% this year to $414 billion.

Investors seized on signs of policy support from Japanese and European central banks to drive world shares higher, denting appetite for German bonds.

Citigroup slashed its fourth-quarter and full-year profits by $235 million after the banking giant discovered fraud in a Mexican subsidiary. 

Citi's exposure to Argentina appears to be manageable, but the bank could be pressured by contagion that infects other Latin American nations.

Puerto Rico made payments of around $1 billion to creditors due on July 1, alleviating fears of an imminent default.

Verizon Communications Inc announced on Thursday it would become the first U.S. company to offer roaming wireless service in Cuba next week.

As Venezuela grapples with economic turmoil and widespread protests, a law that effectively prohibits companies from firing workers continues to limit the country’s economic competitiveness.

As the U.S. and Cuba continue to normalize relations, many American companies aren't wasting time to make the push into the Cuban market.

The iconic beverage maker reported global volume growth of 2%, which missed expectations from analysts. 

As Mexico works to denationalize its oil and gas market after seven decades, billions of dollars in potential profits are at stake. But challenges remain.