Bloomberg Brazil’s Acting President Michel Temer proposed to legislators spending caps that are designed to shrink a near-record budget deficit and restore investor confidence in Latin America’s largest economy. The proposal would amend the constitution, essentially freezing current government expenditures in inflation-adjusted terms through 2036, though there would be the possibility of adjustments after the first 10 years, according …

  Bloomberg Mexico’s retail market is getting a jolt as Chile-based retail giant SACI Falabella reaches northward to grab a piece of an expanding consumer market. South America’s largest department store chain, which sells everything from power tools to women’s clothes and treadmills, is making headway in Mexico as consumption drives a better-than-expected expansion in the country. The company is …

  Bloomberg Jaguar Land Rover opened a factory in Brazil as part of efforts to increase local sourcing of components and reduce the impact of currency fluctuations on its profits. The plant is the company’s first wholly owned facility outside its home market of the U.K. and will produce the Discovery Sport and Range Rover Evoque sport utility vehicles for …