Bloomberg Brazil’s economy shrank less than forecast in December, capping a year when Latin America’s largest nation entered its worst recession in decades. The seasonally adjusted economic-activity index, a proxy for gross domestic product, decreased 0.52 percent in December from the previous month, after falling a revised 0.64 percent in November, the central bank said on Thursday. The median estimate …

New York / AFP Wal-Mart Stores trimmed its sales forecast for fiscal 2017 on Thursday due to store closures and the strong dollar as it reported lower fourth-quarter earnings. The world’s biggest retailer saw shares tumble as it reported that it now expects fiscal 2017 sales to be flat, down from the previous outlook for three to four percent growth. …

Mexico City / bloomberg For nearly 80 years, Pemex has ruled Mexico’s oil industry like a nation unto itself. Few dared challenge the state-owned monopoly, a pillar of government revenue with powerful political allies. Now, a Harvard-educated economist is about to try. Like a thunderclap, the arrival of Jose Antonio Gonzalez Anaya at Petroleos Mexicanos is sending shock waves across …