America Movil 2nd-qtr net profit slides on financing costs

Mexican telecommunications giant America Movil (AMXL.MX)reported on Tuesday its second-quarter net profit plunged 68% to 13.683 billion pesos ($679 million), hurt by higher financing costs. The company, which is controlled by the family of Mexican billionaire Carlos Slim, said revenues rose 3.3% from the year-earlier period, to 217.391 billion pesos. “Concerns associated with high inflation […]

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U.S. Treasury diplomat nominee aims to curb China’s lending influence

The nominee for the U.S. Treasury’s top economic diplomacy job said on Tuesday he wants to limit China’s growing global lending influence by working with international financial institutions and development banks to give countries borrowing alternatives. Jay Shambaugh is President Joe Biden’s choice for Treasury undersecretary for international affairs. If confirmed, the George Washington University […]

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