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Business and Economy
Mexico’s economy is not in recession yet but the federal government is trying to counter an economic slowdown with targeted infrastructure spending, Finance Minister Arturo Herrera said on Tuesday. Herrera said he was worried about a slowdown in the global economy, including in Mexico, and the prospect that the Mexican government could need to do...
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The Mexican peso could fall almost 9% to 21.30 per dollar next year if U.S. President Donald Trump again threatens the country during his re-election campaign, Mexican financial group Banorte said on Tuesday. Trump has repeatedly sent the Mexican currency and stock market tumbling after attacking Mexico over immigration and trade, mostly on Twitter, threatening...
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Mexico has made the first moves to launch its annual $1 billion oil hedging program by asking banks for quotes, sources familiar with the deal said, while buying in financial oil options contracts for 2020 has risen in recent days, consistent with the giant trade. A Wall Street source and a Mexican congressional source familiar...
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Activity in Mexico’s manufacturing sector shrank for a third consecutive month in August, a survey showed on Monday, as weakening domestic demand and subdued business sentiment weighed on Latin America’s second-largest economy. The IHS Markit Mexico Manufacturing Purchasing Managers’ Index MXPMIM=ECI stood at 49.0 in August, sliding to the lowest reading in the survey’s nearly...
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Believing that fraud can’t happen to us — because we’re too smart, logical or informed — may make us more vulnerable. Successful scam artists skillfully overcome our defenses and get us into emotional states that override logical thinking, says Kathy Stokes, AARP’s director of fraud prevention programs. “Scammers call it getting the victim under the...
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Several of Mexico’s largest banks reported on Saturday that they were experiencing problems processing debit and credit card payments while some shops in the capital informed customers that they would only accept cash payments. Banorte, HSBC and Santander all said on their Twitter accounts that the problem was with the company that was processing card...
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A $25 billion stimulus package unveiled by Mexico on Monday should have an immediate impact, Finance Minister Arturo Herrera said, as Latin America’s second-largest economy teeters on the brink of a recession. The package comes just days before Mexico’s national statistics agency publishes second-quarter growth figures and amid an discussion over whether the economy has...
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Mexico’s economy likely did not grow in the second quarter, weighed down by a slump in industrial production, declining investment and a weakening of the vast services sector, according to a Reuters survey published on Friday. Gross Domestic Product (GDP) growth in Latin America’s second largest economy is seen at 0.0% in the second quarter...
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Mexico’s economy, the 2nd largest in Latin America, has hit a rough patch, weighed down by dwindling business confidence and an industrial slump. But ahead of GDP data for the second quarter due on July 31, a debate has raged over whether all that gloom adds up to a recession. Several banks say definitely yes...
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Circle K Mexico is apologizing for an ad on “Secretary Day” promoting a deal on chocolate, red wine and condoms. The convenience store brand said in a Wednesday statement that it did not intend to “promote any stereotype” and highlighted its “promise to be a business that doesn’t discriminate on the basis of gender.” The...
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The Mexican Olympic Committee said Wednesday it will no longer be able to offer food, lodging and medical services at its main sports training complex, the latest casualty in a round of deep budget cuts by President Andres Manuel Lopez Obrador. Seldom has a leftist been so obsessively austerity-minded as Lopez Obrador. In his first...
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Volkswagen is halting production of the last version of its Beetle model this week at its plant in Puebla, Mexico. It’s the end of the road for a vehicle that has symbolized many things over a history spanning the eight decades since 1938. It has been: a part of Germany’s darkest hours as a never-realized...
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ATMJaDi is a new malware aimed at theft of ATMs, a practice known as jackpotting. The trojan is programmed to infect the banking network of a financial institution and track down machines to invade and control them remotely through a web-based program. According to Kaspersky analysis, ATMJaDi malware has been found in ATM machines in...
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Uber Technologies Inc is partnering with bank BBVA and payments processor Mastercard to launch a debit card for drivers in Mexico, an Uber executive said on Tuesday, the company’s latest gambit to promote banking in a country that runs on cash. “Uber supports the extension of financial services in the country,” Federico Ranero, Uber Mexico’s...
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Walmart’s Mexico unit has begun offering grocery delivery from its Superama stores via messaging service WhatsApp, the retailer said on Monday, in a new stab at attracting shoppers outside bricks-and-mortar supermarkets. WhatsApp, the free text-messaging service owned by social media platform Facebook, is ubiquitous throughout Mexico. Superama shoppers can text an order to a WhatsApp...
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