Category

Business and Economy

Business and Economy News: News and information for Business and Economy by PVDN

Mexico’s main stock index closed out its worst quarter in over 17 years on Monday, dragged down by doubts about how the new leftist government will manage the economy as well as concerns over global growth and trade. The S&P/BMV IPC stock index .MXX lost 15.89 percent in the fourth quarter, its steepest drop for...
Read More
Nervous bond holders will pore over Mexico’s budget like never before this weekend to see if leftist President Andres Manuel Lopez Obrador can pull off higher social spending, tax cuts and pricey oil ventures without increasing debt. On Saturday, Lopez Obrador submits his 2019 budget to lawmakers, with markets on tenterhooks to see how he...
Read More
Lowe’s Cos Inc said on Tuesday it was looking to shed its retail operations in Mexico and two of its smaller U.S. businesses as the country’s second-biggest home improvement chain strives to compete with rivals including Home Depot. Shares of the Mooresville, North Carolina-based company fell nearly 3.6 percent in morning trading after Lowe’s blamed...
Read More
Amazon announced Wednesday (November 7) that its voice-activated digital assistant Alexa and its smart speaker Echo are now available in Mexico. In a press release, Amazon said Alexa has learned to speak and understand Spanish tailored for the Mexican market. What’s more, the company said developers around the world are making skills and devices for...
Read More
Investor confidence in Mexico was rattled last week after the president-elect abandoned a US$13bn airport project, raising fears that policy direction may soon take a more populist bent. The US$6bn bonds that helped fund the project slipped multiple points after a four-day consultation that resulted in Mexicans voting in favour of refurbishing existing airports instead....
Read More
Fitch Ratings has changed its outlook on Mexico’s long-term foreign-currency debt issues from “stable” to “negative,” citing the potential policy effects of President-elect Andres Manuel Lopez Obrador. The leftist Lopez Obrador has tried to smooth anxieties in the business community but upset many by canceling a partly built, $13 billion new airport on the outskirts...
Read More
Canadian company, Canntab Therapeutics Limited, announced the signing of a non-binding Letter of Intent with Labsco Promedic SA de CV of Monterrey, Mexico (“Labsco”) for the establishment of a joint venture relationship for the sales & distribution of Canntab products in Mexico on an exclusive basis. Both parties will work together to establish and complete a...
Read More
Mexico’s economy rebounded in the third quarter, official data showed on Tuesday, helped by stronger industrial output and a jump in services that reflected a surge in consumer confidence in the wake of elections. The economy grew 0.9 percent in seasonally adjusted terms in the third quarter, bouncing back from a 0.2 percent contraction in...
Read More
Honda Motor Co is considering shifting production of its U.S.-bound Fit subcompact cars to Japan from Mexico in a few years, partly due to a new North American trade agreement, two people familiar with the deal told Reuters. Fit cars for export to the United States are now made at Honda’s auto plant in Celaya,...
Read More
A federal prison in northern Mexico owned by BlackRock Inc (BLK.N) has gone into operation, the government said, as the world’s largest asset manager expands further into infrastructure investment around the world. A spokeswoman for prison agency OADPRS said that inmates began to arrive in August at the facility, known as CPS Coahuila, and that...
Read More
Mexican annual inflation in the first half of October rose less than expected, official data showed on Wednesday, but the rate was still above the central bank’s target. Mexican inflation in the 12-months through early October rose 4.94 percent, the national statistics institute said, compared to expectations for a 5.00 percent increase in a Reuters...
Read More
Refining company Phillips 66 was awarded a tender to supply Mexico’s Pemex with at least four 350,000-barrel cargoes of U.S. Bakken crude for November delivery, the refining company said on Monday. The purchase, which will be the state-run company’s first crude import in over a decade, was requested last week to cover needed oil supply...
Read More
Will NAFTA 2.0 Really Boost Mexican Wages?
NAFTA is no more. The North American Free Trade Agreement has a new name — the United States-Mexico-Canada Agreement, or USMCA — and its rules have been updated and revamped. For Mexico, there’s one rule in particular that gives workers hope higher wages are coming. It says that 40 percent of a car must be...
Read More
Just two days before the United Kingdom ambassador, Duncan Taylor, leaves his post as diplomatic representative of the European country; he predicted that the next presidential term with Andrés Manuel López Obrador will continue to strengthen ties of friendship and investments in Mexico. “We can invest six thousand million pesos over the next four years...
Read More
The United States can extend a longer line of credit to Mexico if the country faces a currency crisis, according to the terms of a new agreement signed on Wednesday that follows the two countries’ trade deal. Mexico can negotiate for up to $9 billion under a currency “swap line” with the U.S. Treasury Department,...
Read More
1 2 3 36