Business & Economy News

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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...

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Business and Economy News

MEXICO BUSINESS AND ECONOMY NEWS FROM THE NUMBER ONE ENGLISH NEWS SOURCE SERVING PUERTO VALLARTA, THE BAY OF BANDERAS AND BEYOND.

Mexican manufacturing shrinks for third straight month to lowest since 2011

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...

Will you be a scam artist’s next target?

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...

Widespread outages processing bank transactions across Mexico

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...

$25 billion stimulus package unveiled by Mexico

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...

Mexico’s economy seen posting 0% growth in second quarter

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...

Debate rages over recession in Mexico

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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