Business and Economy

Saks Fifth Avenue says goodbye to Mexico

The famous American luxury fashion chain, Saks Fifth Avenue, is leaving Mexico after the decision of Grupo Sanborns not to renew the contract with the...
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Low wages and high cost of living in Puerto Vallarta creates worker shortage

Due to the labor shortage in the Puerto Vallarta tourism sector, Coparmex has asked its members to analyze the salaries they offer their workers because,...
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Mexico’s Chamber of Commerce warns cartel violence is putting businesses at risk

Organized crime is putting Mexican businesses at risk, the national Chamber of Commerce has warned, after drug cartel members attacked a series of convenience stores...
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Banxico raised the interest rate to 8.5%, a historical level due to inflation in Mexico

The Bank of Mexico raised the interest rate by 75 base points for the second consecutive time to set it at 8.5%, a historical maximum...
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Disney tops Netflix on streaming subscribers, sets higher prices

LOS ANGELES, Aug 10 (Reuters) – Walt Disney Co (DIS.N) edged past Netflix Inc (NFLX.O) with a total of 221 million streaming customers and announced it will increase prices...
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Mexico’s July inflation reaches a 22-year high

MEXICO CITY, Aug 8 (Reuters) – Mexican inflation in July likely sped up again to a near-22-year high, a Reuters poll showed on Monday, fueling...
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Musk says Twitter deal could move ahead with ‘bot’ info

Elon Musk said Saturday his planned $44 billion takeover of Twitter should move forward if the company can confirm some details about how it measures...
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Mexican central bank seen pushing up key rate to record level

MEXICO CITY, Aug 4 (Reuters) – Mexico’s central bank is expected to hike the benchmark interest rate to a new historic level of 8.5% next...
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‘Made in Mexico’ branding is coming back to promote buying national products

The “Made in Mexico” brand will be relaunched, as part of the industrial policy designed by the Ministry of Economy (SE) and the private sector,...
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Mexico will have “zero growth in 2023″: Bank of America

Mexico will have “zero growth in 2023,” as Bank of America Securities predicted, drastically lowering its growth estimate for the country over the next year...
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There will no longer be new cars priced lower than 200,000 pesos in Mexico

Buying a new car is the goal of millions of Mexicans. However, the outlook is not encouraging and it will be more and more expensive...
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Amazon prepares for the great recession and cuts 100,000 jobs

Since Amazon was founded in 1994, it has not stopped growing. And that growth has translated into jobs. So much so that it is currently...
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Puerto Vallarta News

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