Mexico cenbank, govt hold off new measures after Trump victory

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Nov 9 Mexico's central bank governor and finance minister held off announcing any new measures to protect the country's tumbling peso on Wednesday, after Donald Trump's victory sent it down by as much as ten percent.

Finance Minister Jose Antonio Meade said in a news conference that uncertainty and volatility had increased since Trump's win, but that there was no immediate impact on trade rules between the two countries.

The central bank will hold a planned monetary policy meeting next week, Governor Agustin Carstens said. Thanks.

UPDATE 2-U.S. tentatively approves Delta-Aeromexico venture

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WASHINGTON/NEW YORK Delta Air Lines Inc (DAL.N) and Aeromexico can set prices and coordinate schedules for their U.S.-Mexico flights, but they must free up certain airport slots to bolster competition, the U.S. Transportation Department tentatively ruled on Friday.

The decision paves the way for the two companies to dominate the second-busiest market for travel to or from the United States. It comes after the U.S. airline industry has consolidated, with carriers operating more efficient itineraries and having more power to raise fares on some routes.

Opponents of the tentative ruling, which lets the airlines cooperate with immunity from U.S. antitrust law, have until Nov. 30 to raise objections.

The department said the decision benefits the public because Delta and Grupo Aeromexico SAB de CV (AEROMEX.MX) can plan shorter layovers, increase flights and offer more destinations. The U.S. government has approved similar arrangements for many other airlines.

However, the department has proposed that the carriers divest 24 takeoff and landing slots in Mexico City and six at New York's John F. Kennedy International Airport to give budget airlines room to add flights.

Slot allocation in Mexico City depends "on confusing and often unwritten rules, making it extremely difficult for new entrants," the department said. "This remedy would allow for new, competitive entry at these airports that would not otherwise be possible."

In an unusual move, the department also proposed limiting Delta and Aeromexico's antitrust immunity to five years because it was unclear whether the divestitures and reforms in Mexico City would be enough to ensure low fares for travelers.

In a statement, Delta said it was reviewing the tentative decision and looked forward to implementing a cooperation agreement with Aeromexico. It is in the process of buying 49 percent of Aeromexico, similar to stakes it has taken in other airlines to influence how they operate and where they fly.

Friday's ruling "really gives Delta a huge advantage" over United Continental Holdings Inc (UAL.N) and American Airlines Group Inc (AAL.O), which will be unable to compete for Mexico flights outside their major hubs, said industry consultant Robert Mann.

Delta's shares were up nearly 3 percent at $43.03 on Friday afternoon. Aeromexico's rose nearly 5 percent.

Budget carrier JetBlue Airways Corp (JBLU.O), which had wanted the airlines to divest at least 30 slots in Mexico City, said it commended the department for ensuring greater airport access.

Aeromexico did not immediately comment.

Mexico's federal competition commission approved the airlines' joint venture in May. Thanks.

UPDATE 1-Brazil sheds more jobs than expected in September

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BRASILIA Oct 26 Job cuts in Brazil increased unexpectedly in September, according to government data, in another sign that the country's two-year-long recession took a turn for the worse.

Brazil shed a net 39,282 payroll jobs in September, the Labor Ministry said on Wednesday, compared with 33,953 job cuts in August and 95,602 in September 2015.

Economists expected payroll jobs to decrease by 16,000 in September, according to the median forecast in a Reuters poll.

Brazil's economy is expected to shrink more than 3 percent for a second straight year in 2016. With 12 million workers officially considered unemployed, the economy shed 1.6 million jobs over the past 12 months.

In September, the Labor Ministry recorded a net 27,591 job cuts at construction companies and 15,144 job losses at services firms. Manufacturers and retailers reported job gains, but hired only 9,363 and 3,940 workers in the month, respectively.

MEXICO CITY, Oct 26 Mexican factory exports posted their biggest monthly rise in more than seven years in September, powered by increased demand for autos, data from the national statistics agency showed on Wednesday. Adjusted for seasonal swings, factory exports jumped by 7.4 percent in September from August after a decline of 3.5 percent the previous month. The increase was the biggest since August 2009. Exports in the auto industry were up by 7.8
 
SAO PAULO/BRASILIA, Oct 26 The share of loans delinquent for at least 90 days in Brazil was unchanged at a record high in September, a signal that efforts by commercial banks to refinance looming debt maturities are yet to help ease the country's worst credit crunch in two decades. Thanks.