Mexico to pump $3.6 billion to relieve ailing Pemex, more if needed

Mexico to pump $3.6 billion to relieve ailing Pemex, more if needed
MEXICO CITY (Reuters) – Mexico will inject $3.6 billion into ailing state-owned oil company Pemex, including by reducing taxes and refinancing debt, officials said Friday, promising to do “whatever is takes” to strengthen its finances and prevent a further credit downgrade. FILE PHOTO: A gas station of state oil firm Petroleos Mexicanos (Pemex), which is closed due shortage of fuel,... Read More

Mexico to pump $3.6 billion to relieve ailing Pemex, more if needed

Mexico to pump $3.6 billion to relieve ailing Pemex, more if needed
MEXICO CITY (Reuters) – Mexico will inject $3.6 billion into ailing state-owned oil company Pemex, including by reducing taxes and refinancing debt, officials said Friday, promising to do “whatever is takes” to strengthen its finances and prevent a further credit downgrade. FILE PHOTO: A gas station of state oil firm Petroleos Mexicanos (Pemex), which is closed due shortage of fuel,... Read More

U.S. factory output drops, autos fall the most since recession

U.S. factory output drops, autos fall the most since recession
FILE PHOTO: A Boeing 737 aircraft is seen during the manufacturing process at Boeing’s 737 airplane factory in Renton, Washington, United States May 19, 2015. . REUTERS/Saul Loeb/Pool WASHINGTON (Reuters) – U.S. manufacturing output fell steeply in January as motor vehicle production posted its biggest fall since 2009, with declines in a broad range of goods likely to fuel fears... Read More

Electric truck startup Rivian gets funding from Amazon

Electric truck startup Rivian gets funding from Amazon
FILE PHOTO: Rivian introduces R1T all-electric pickup truck at Los Angeles Auto Show in Los Angeles, California, U.S. November 27, 2018. REUTERS/Mike Blake (Reuters) – U.S. electric pickup truck maker Rivian Automotive LLC on Friday announced an equity investment of $700 million, led by Amazon.com Inc. Reuters reported on Tuesday that Amazon and General Motors Co were in talks to... Read More