USA and Canada

Petrotrin: The Business

Cutting across the Isthmus of Panama, the Panama Canal is a 77.1 kilometre ship canal connecting the Atlantic Ocean, via the Caribbean Sea, to the Pacific Ocean and a hugely important conduit for international maritime trade, providing work markets with a time and cost effective crossing. Indeed the Panama Canal has had a massive transformative effect on world maritime commerce over the year, while from a local perspective it contributes some 20 percent of Panama’s total gross domestic product.

At the moment, though Devex has opened a few offices in other countries where clients have adopted its systems, it is firmly a Brazilian company, with 85 percent of its $35 million annual revenue generated domestically. However there is no better seed-bed for new technology than Brazil, and forward thinking global mining groups are now taking notice of Brazil not just as a country with huge resources to extract but as a developer of smart ways of doing that.

Packaging specialist Coresa was established in Chile in 1966. “We started making flexible containers from polypropylene in the 1980s and also some fabrics for specific applications,” says managing director Jose Ignacio Arrate, “so we’ve been making these products now for thirty years, and the company has been in existence for nearly fifty years altogether.”

The broker-dealers latest quarterly results show that it made $1.9 billion in the three months to the end of June. This compares with the $927 million it recorded in 2012 and comes amid what can be described as tougher trading conditions.

Its earnings were lifted by big returns on its own investments in shares and debts, which generated $1.4 billion in net revenues, up from $200 million a year ago. The profit that Goldman made on its own investments came as it sold off its last remaining shares in Industrial and Commercial Bank of China.

Last week, JP Morgan recorded a profit of $6.5 billion for the three months to the end of June, up 31 percent from 2012. Meanwhile, Wells Fargo also reported a 20 percent rise in profits to $5.27 billion.

Revealing plans for the overhaul the company’s chief executive Steve Ballmer said that it would become more streamlined around devices such as phones, games consoles and services. The move comes amid a decline in demands for personal computers, as consumers turn to tablets and other mobile devices.

The two separate entities will be known as Tribune Publishing Company and Tribune Company respectively. The former will oversee newspapers such as the Chicago Tribune and Los Angeles Times, while the latter will handle other operations including the 19 television stations that the group recently purchased for $2.7 billion. This, the company said, will give it greater financial and operational focus.

The talks, aimed at removing trade and investment barriers, come at a time when tensions remain raised over claims surrounding the actions of the US National Security Agency.

German Chancellor, Angela Merkel was keen to stress on Thursday however that the talks remain the "highest priority".

As one of the world’s fastest growing senior gold producers, with operations and development projects located in some of the safest and most stable countries in the Americas Goldcorp is riding on the crest of a wave. Its operating assets include five mines in Canada and the USA, three in Mexico, and three across Central and South America, namely the Marlin mine in Guatemala, Alumbrera in the Argentine, and its newest and largest project Pueblo Viejo in the Dominican Republic.