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 Business News
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Mexico Central Bank Raises Rate on Inflation Concerns
 Jens Erik Gould
Mexico's central bank raised its benchmark interest rate for the second straight month to curb the highest inflation rate in more than three years.
Mexican Economy Feels Pinch as Factories Slow
 Jason Lange
Mexico's economy is feeling the pinch from a sharp downturn in the United States as factories lay off workers, cut shifts and scramble to reduce costs.
Can Latin American Firms Compete?
 PVNN
Can Latin American Firms Compete? examines the success and failure that Latin American firms have met with, in their own markets and elsewhere in the world, and the reasons behind this. Including contributions from leading international experts on business in Latin America, the book draws on concepts from a range of disciplines.
Hundreds of Super Rich Under Investigation
 Brian Ross, Rhonda Schwartz, & Avni Patel
Hundreds of rich Americans whose names and secret foreign bank account information were turned over to US tax authorities could face criminal prosecution. A Senate committee is scheduled to convene tomorrow and among those called to testify are foreign bank account holders, including one of the wealthiest men in Los Angeles.
FDA’s Handling of the Salmonella Outbreak Makes Producers Angry
 Raoul Railey
The way the Food and Drugs Administration agency and the Centers of Disease Control are managing the salmonella outbreak that hit the United States has made producers angry. It is estimated that tomato growers have lost $250 million, as the FDA first blamed three varieties of tomatoes for the outbreak.
Mexico's Modelo Should Warm to New Partner InBev
 Chris Aspin
Mexican brewer Modelo should eventually embrace InBev NV's $52 billion takeover of its U.S. partner Anheuser-Busch Cos Inc and down the road might strengthen the ties with a new U.S. distribution deal.
Analysts Say More US Banks Will Fail
 Louise Story
As home prices continue to decline and loan defaults mount, U.S. regulators are bracing for dozens of American banks to fail over the next year.
Grupo Aeroportuario del Pacifico Reports Passenger Traffic Decrease of 4.8% for June 2008
 PRNewswire
Grupo Aeroportuario del Pacifico, S.A.B. de C.V. has announced preliminary terminal passenger traffic figures for the month of June 2008 compared to traffic figures for June 2007.
Mexico Property Market Attracting More Interest From US and Canada
 PropertyWire
Mexico is the new frontier with increasing numbers of Americans and Canadians investing in property according to one of the leading estate agents.
Mexico Centrists Like Oil Contract Plan, Eye Graft
 Jason Lange
key Mexican opposition party could back a central part of a government plan to boost private investment in oil drilling, but wants tweaks to the proposal to prevent corruption, a lawmaker said on last week.
Mexico Sees "Relatively Good" Economic Growth in Q2
 Jason Lange & Luis Rojas Mena
Mexican Finance Minister Agustin Carstens said on Friday positive data for retail sales and employment meant economic growth would be "relatively good" in the second quarter of this year.
 US Troubles Push Mexico Stocks to 24-Week Low
 Michael O'Boyle
Mexican stocks fell to a 24-week low on Friday as trouble at two U.S. home financing providers and record oil prices clouded the outlook for the economy in the United States, Mexico's top trading partner.
Mexican Bank Banorte Says Not For Sale
 Cyntia Barrera Diaz
Mexico's fifth-largest banking group, Banorte, is not for sale, its chief executive said on Friday, amid renewed speculation that the bank could become the target of a takeover.
US Lawmakers Try Again to Block Mexican Truck Program
 Andrew Taylor
Opponents of a pilot program giving Mexican trucks greater access to U.S. highways won another round Thursday in their battle with the Bush administration.
Mexico Inflation Jumps to Highest Since Late 2004
 Jason Lange & Michael O'Boyle
Mexican inflation jumped in June to its fastest pace in over three years on higher food and energy prices, increasing pressure on the central bank to raise borrowing costs despite a slowing economy.
Investing in Mexico a Sound Business Decision: Felipe Calderón
 Presidencia de la República
China should know that investment in Mexico is welcome, declared President Felipe Calderón during the inauguration of the seminar on Investment and Business Opportunities, the event with which he began his state visit to that country.
US Housing Market Meltdown Causes Massive Losses
 Dean Baker
The Center for Economic and Policy Research reports that with the loss in home value in the housing meltdown, many families will be left with nothing but Social Security and Medicare to support them in retirement.
Do Natural Disasters Stimulate Economic Growth?
 Drake Bennett
The earthquake that struck Sichuan Province in May left behind scenes of almost apocalyptic devastation in China. If the Chinese government is to be believed, the earthquake also did something else: it helped the Chinese economy.
Falling Mexican Crude Exports Having Minor Effect
 Janet McGurty & Jason Lange
Falling exports of Mexico's heavy sour crude oil is seen having little or no effect on operations at the U.S. oil refineries with long-term contracts to buy it.
US Firms a Role Model for Fair Hiring Standards, Study Says
 Jan Dennis
U.S. companies are helping spread fair hiring practices across the world as they set up shop in developing nations, according to a new study of gender and age discrimination co-written by a University of Illinois labor expert.
Mexico Consumer Confidence Index Falls to 6-Year Low
 Jens Erik Gould
Mexico's consumer confidence fell more than economists estimated in June to the lowest level since January 2002 as inflation accelerated to a three-year high.
CasaMagna Marriott Puerto Vallarta Resort & Spa Invites Meeting Guests to Go “Puerto Vallarta Green”
 PR-Canada
CasaMagna Marriott Puerto Vallarta Resort and Spa is launching “Puerto Vallarta Green” meeting initiatives as an innovative eco-friendly option for meeting attendees to do their small part to help fight global warming.
Mexico Phone Competition To Heat Up With Numbers War
 Tomas Sarmiento
Mexicans can switch telephone operators without having to change their phone number beginning this weekend, a measure that will heat up competition in an industry dominated by billionaire tycoon Carlos Slim.
The New Face Of Microfinance
 The Economist
For years Muhammad Yunus reigned as the public face of microfinance. It seemed only right when, in 2006, the Bangladeshi economist-cum-social entrepreneur and his Grameen Bank shared the Nobel Peace Prize for a micro-lending revolution that has helped millions to earn their own way out of poverty.
Vallarta US Consular Seeks Assistant
 Kelly Trainor
The U.S. Consulate General in Guadalajara is seeking an individual for the position of Special Consular Services Assistant/Passport and Citizenship Assistant in the Consular Agency in Nuevo Vallarta, Nayarit.
Homex Enters Into A US $200 Million New Credit Facility
 Desarrolladora Homex
Mexico's leading homebuilder, Desarrolladora Homex, has entered into a new credit facility denominated in Mexican pesos in an amount equivalent to US $200 million with Banco Inbursa, S.A., one of the leading banks in Mexico.
Mexico Says Inflation May Have Peaked
 Jason Lange
Mexican Finance Minister Agustin Carstens said on Wednesday the country's inflation rate may have peaked for the year though bad weather could still cause some surprising increases in food prices.
America's Shrinking Groceries
 Kate Pickert
American supermarkets are epics of excess: it often seems like every item in the store comes in a "Jumbo" size or has "Bonus!" splashed across the label. But is it possible that the amount of food Americans are buying is, in fact... shrinking? Well, yes.
Harper’s Free Trade Mantra: Hush, Rush, and Sign
 Dawn Paley
This January, after little more than 6 months of negotiations, the Canadian Government announced the completion of negotiations of the Canada-Peru Free Trade Agreement at the World Economic Forum in Davos, Switzerland. Six months later, on June 7, 2008, Canada announced that negotiations for a controversial Free Trade Agreement (FTA) with Colombia were finalized.
MEXLend Closes First Puerto Vallarta Scotiabank Dollar Loan
 Robin Noelle
With the real estate markets foundering in the United States, many investors are turning to Mexico to make investments in primary or secondary homes. Through MEXLend, Scotiabank is offering USD loans on Mexico properties for US and Canadian citizens.
Bill Gates: PC Genius, Internet Fool
 Josh Quittner
Few companies not born on the Web have figured out how to thrive there. A business with $26 billion in cash reserves isn't exactly at death's door. And Microsoft continues to be enormously profitable, thanks to its operating system monopoly. Thanks, that is, to Gates's genius.
Mexico Banks' May Private Lending Up 18.5 Pct
 Luis Rojas Mena
Mexican bank lending to individuals and companies, a key engine of local growth this year, grew 18.5 percent in May from the year-ago period, the central bank said on Monday.
Less Illegal Immigration, More Jobs?
 David R. Francis
What's needed to discourage illegal immigration into the United States has been known for years: Enforce existing law. Amazingly, that is happening now - to some degree. This trend may already be shrinking the flood across the Mexican border and have a modest positive impact on job prospects for "native born" Americans during the present economic slump.
Pain is All Around as Americans Shun SUVs
 Poornima Gupta
Record fuel prices have ended America's love affair with the SUV. But the break-up is proving to be more painful than anyone anticipated. Some U.S dealers have stopped buying used trucks. Lenders are bracing for losses. Automakers have slashed output, and Americans have seen the value of their big rides drop by thousands of dollars in recent weeks.
Tongue-in-Cheek Clothing Sold Virtually and in Real World
 PRNewswire
Makena Technologies, creator of the popular social virtual world There.com, today announced a partnership with NaCo USA, the authentic Latino clothing brand that targets consumers through funny and irreverent bilingual slogans and culturally relevant designs.
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