Latin America

Ford is expected to move production of its small cars out of the U.S. amid an effort to lower costs and squeeze more profits from the low-priced vehicles.

The U.S. judge overseeing the long-running litigation over Argentina bonds has scheduled a hearing for 3 p.m. EDT (1900 GMT) in New York, after Argentine officials announced plans to skirt his court rulings that pushed the country into default.

The governor warned that Puerto Rico can't pay its $72 billion public debt on the eve of a private Monday meeting with legislators, delivering another jolt to the recession-gripped U.S. island as well as a world financial system already worrying over Greece's collapsing finances.

Greece may be getting the bulk of the debt-related headlines, but there is another debt story looming. Discover how the Puerto Rican debt crisis could impact your investments.

The world's largest cruise company could be heading to Cuba.

Puerto Rico will default for the second time in five months, but will pay the bulk of $1 billion due on Jan. 4, including its most senior debt, Governor Alejandro Garcia Padilla said on Wednesday.

Cuba's President Raul Castro, speaking at the United Nations for the first time, on Saturday hailed renewed diplomatic ties with the United States as "major progress" but slammed a U.S. trade embargo as the top obstacle to Cuba's economic development.

American Airlines says it plans to begin charter service from Los Angeles to Havana later this year, which American says will be the first nonstop flights from the West Coast to Cuba since travel restrictions to the island nation were eased.

The progressive group the Hedge Clippers protested outside of the New York hedge fund BlueMountain Capital over its involvement in the Puerto Rican debt crisis.