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Hackers demanded about $5 million in bitcoin from Mexico’s Pemex, they told Reuters on Tuesday, saying the state oil firm missed a special discount by not paying immediately after a cyberattack that fouled up the...

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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.

Mexico peso headed for choppy waters

Mexico’s peso is headed for choppy waters in what remains of 2019 as the ongoing U.S.-China trade war and the uncertain fate of the new North American trade deal could cause the currency to fluctuate between 18.80 and 21 per dollar, analysts say. The peso’s immediate future ultimately depends on whether the world’s two largest...

Mexico finance minister losing sleep over sluggish 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...

Mexican peso could drop almost 9% to 21.30 per dollar in 2020

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...

Mexico moves to launch world’s largest oil hedge program

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...

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...

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