TLA Times | February 27, 2019
Figures from Feb. 22 Source: www.xe.com
FUN IN THE SUN
Region’s logistics, supply-chain operations draw investment.
Tech Crunch reports that startups and new technology are changing shipping in Latin America, and investors are putting big money into the supply-chain sector in the region. Shipping has been booming as trade increases with China. “The most exciting sectors for innovation in shipping are in trucking, consumer/third-party shipping options and in last-mile delivery,” one investor writes. “Startups in the logistics industry have their work cut out for them in Latin America, and these sectors are the most prominent battlegrounds for innovation so far.” Details
Peruvian police, military lead crackdown on illegal mining.
The Peruvian interior ministry sent 1,500 police and military personnel into Madre de Dios, a rainforest area that been plagued by illegal mining operations, Reuters reports via Macau News Agency. Unauthorized gold mining has led to deforestation. Previous attempts by the government have failed to slow the growing wildcat mining industry. Details
Ford Motor Co. shuts down plant in São Bernardo do Campo.
Fortune Magazine reports Ford is shuttering a factory that employs 2,800 in Brazil. Ford is losing money on its South American business and faring even more poorly in heavy trucks. The São Bernardo do Campo plant assembled big trucks and a small car, the Fiesta. The closing is a blow to Jair Bolsonaro, the pro-business president. Details
Maquiladora owners ask president to help stop the strikes.
A group representing foreign-owned factories near Mexico’s northern border are asking leftist President Andres Manuel Lopez Obrador to aide in putting an end to strikes, reports the Los Angeles Times. Mexico has been plagued with strikes since AMLO took over. He raised the minimum wage 20 percent, but that didn’t help the maquiladora. They already made more money than the minimum wage. They think their wages should go up by a similar amount. Details