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 Business News
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Mexico's Treasury Secretariat: Gas-Hike Reversal a 'Bad Idea'
 Yvonne Reyes Campos
The Treasury Secretariat told Congress that freezing or decreasing the prices of gasoline and diesel will only delay the cost, which would damage federal, state and municipal public finances.
Tycoon Slim Escalates Latam War Against Telefonica
 Tomas Sarmiento
Mexican tycoon Carlos Slim's plan to combine his Latin American telecommunications assets into a single company will strengthen his position in a growing war against regional rival Telefonica.
Cuba to Give Canada Expanded Air Access Within Island to Boost Tourism
 Mike Blanchfield
he Harper government has reached a new agreement with Cuba's communist regime that will give Canadian airlines expanded access to the Caribbean island's sunny skies, The Canadian Press has learned.
Federal Government Working to Make Mexico Suitable for World Investment
 Suzanne Stephens Waller
During the inauguration of the Second Mitsubishi Electric Mexico Plant, President Felipe Calderón said that this investment is a clear sign of the confidence firms worldwide have in Mexico’s growth potential.
Mexico Central Bank Holds Interest Rate Steady
 Jason Lange & Patrick Rucker
Mexico left overnight interest rates at a six-year low on Friday to help the economy recover from a recession, saying weak economic growth would dampen the effects of tax increases on inflation.
Mexico Supported by Large Economic Reserves: Calderón
 Suzanne Stephens Waller
During the inauguration of Cinépolis’ Corporate Campus, President Felipe Calderón declared that despite the 2009 economic crisis, the Bank of Mexico began this year with over $90 billion dollars in international reserves, a record figure for Mexico.
Royal Caribbean Says Yes to Sexually-Charged Cougar Cruise
 Gene Sloan
The world's second largest cruise line says it will pick up where industry leader Carnival left off in hosting a "cougar cruise" organized by California-based Singles Travel Company.
Mexican Tycoon Slim's Telecom Empire Loses Luster
 PVNN
Mexican icon Carlos Slim may be one of the world's two richest men, but his telecommunications empire is losing some of its shine.
Heineken to Buy Mexico's FEMSA in $7.9 Billion Deal
 Ben Berkowitz & Philip Blenkinsop
Heineken NV will buy the beer business of Mexico's FEMSA in a $7.9 billion deal that boosts the Dutch brewer's emerging-market presence and cements an alliance with Latin America's biggest drinks firm.
CO2 Trade War Hits Midwest
 Joshua Frank
It's round one in the 2010 fight against global warming and Minnesota has landed the first punch against coal-fired electricity that crosses its borders. The state is seeking to place a tariff on carbon dioxide turned out by coal plants in North Dakota.
Transnational Shoppers: Mexican Consumers
 Leslie Berestein
Despite a negative economy and tighter border controls, by and large, San Diego County’s shopping malls and big-box stores remain a draw for shoppers from Tijuana, retailers say.
For Unemployed, New Job Often Means Pay Cut
 Christopher Leonard
It's one of the bleak realities of the economic recovery: Even as more employers are starting to hire, the new jobs typically pay less than the ones that were lost.
Carstens Says Tax Increases Won’t Stoke Inflation
 Andres R. Martinez & Thomas Black
Mexican central bank Governor Agustin Carstens, speaking publicly for the first time since taking up the post Jan. 1, said gains in the currency will partially offset the temporary impact on inflation from tax increases.
Wal-Mart De Mexico 2009 Sales Up 10% To Record MXN 269.4 Billion
 Anthony Harrup
Retailer Wal-Mart de Mexico SAB (WMMVY, WALMEX.MX) said Thursday that its sales rose 10% in 2009 to a record 269.4 billion pesos ($20.6 billion) as the company opened 275 stores and served 14% more customers.
Mexican Airport Operator GAP Posts 0.4% Rise in December Traffic
 tradingmarkets.com
Mexican airport operator Grupo Aeroportuario del Pacifico SAB de CV (GAP) reported on Tuesday that total terminal passenger traffic at its airports in December 2009 rose by 0.4% compared to the same period of the prior year.
Recovery Predicted for Tourism from the US to Mexico
 Jimm Budd
Tourism Minister Rodolfo Elizondo is forecasting that 23 million tourists will visit Mexico during 2010 and that they will spend 13 billion dollars while here.
Mexico Consumer Confidence Rises in December
 Noel Randewich & Robert Campbell
Mexico's consumer confidence index rose to 80.1 in December from 78.2 in November, the national statistics agency said on Friday, as the country's battered economy began adding jobs and showing signs of stability.
Corona Beer Sales Weak in the US
 Phil Wahba
U.S. wine and spirits maker Constellation Brands Inc reported a better-than- expected quarterly profit this week as it cut costs, but investors remained concerned by the disappointing results of a joint venture with Mexico's leading brewer.
Marvel Sues to Keep Copyrights on Spider-Man, X-Men
 American NewsReel
The home of superheroes including Spider-Man, the Fantastic Four and the X-Men sued one of its most successful artists Friday to retain the rights to the lucrative characters.
Mexico’s Peso Rises After U.S. Payrolls Decline Unexpectedly
 Ye Xie
Mexico’s peso rose to a three-week high and headed for its biggest weekly advance in eight months after the U.S. unexpectedly lost jobs in December.
Another 85,000 US Jobs Lost in December
 Christopher S. Rugaber
The economy lost more jobs than expected in December while the unemployment rate held steady at 10 percent, as a sluggish economic recovery has yet to revive hiring among the nation's employers.
Mexico Prices Rise Less Than Forecast in December
 Jens Erik Gould & Andres R. Martinez
exico’s consumer prices rose less than economists forecast in December and annual inflation was the slowest in more than three years as costs for food and telephone service fell.
Personal US Bankruptcy Filings Rising Fast
 Sara Murray & Conor Dougherty
The number of Americans filing for personal bankruptcy rose by nearly a third in 2009, a surge largely driven by foreclosures and job losses.
Mexican Government Says Starbucks Owes for Using Pre-Hispanic Images on Coffee Mugs
 Associated Press
The Mexican government says it has notified Starbucks Corp. that Mexico is owed intellectual property rights for a line of coffee mugs showing pre-Hispanic images.
Mexico Energy Ministry To Establish Fuel Economy Standards
Laurence Iliff
Mexico's Energy Ministry said Tuesday it will establish minimum fuel economy standards for new cars and heavy trucks, along with tougher rules to import used cars from the U.S., as part of an energy savings plan.
LifeVantage Receives Formal Approval to Launch Protandim in Mexico
 LifeVantage Corporation
LifeVantage Corporation, the maker of science-based solutions to oxidative stress, announced today that the Company has received formal approval from the Mexican government to launch its flagship product, Protandim, in Mexico.
Mexico: A Tough Year Ahead
 Emilio Godoy
Steep price hikes for goods and services and higher taxes foreshadow a new year fraught with economic difficulties for most Mexicans.
Remittances to Mexico Fell 14 Percent in November
 IANS/EFE
Mexican emigrants sent home just less than $1.5 billion in November, down 14.43 percent from the same month in 2008 and the lowest monthly total since March 2005, the Mexican central bank said.
Diesel Increases May Prompt Strike
 The News
The President of the National Confederation of Traders and Transportation Workers, Edmundo Delgado Ramírez, said that the country's transportation workers would turn off their engines if the federal government does not reduce the price of diesel to 6.30 pesos per liter.
 US Financial Forecast: Doom, Gloom and Little Growth
 Capitol Hill Blue
Economists from all sides of the political system are sounding a unified theme for the new year: The outlook for economic growth in America isn't good for now or in the future.
Mexico GDP Growth to Be Curbed by Faster Inflation
Carlos Manuel Rodriguez
Mexican inflation is poised to jump from a three-year low as the government raises taxes and pushes up gasoline and subway prices, eroding consumers’ purchasing power and cutting into a recovery, according to Actinver SA.
US Mortgage Foreclosures Still Swamping Federal Efforts to Help
 Chris Adams
Banks and other lenders are still foreclosing on Americans' homes at a rate that's outpacing the Obama administration's main effort to stem the crisis.
The Crash Can Happen Again
 The Real News Network
Robert Johnson: Nothing in current financial reform legislation will stop another crash.
A Third of Florida Banks 'Problematic' Or 'Troubled'
 Jim Wyss
Florida's banks continue to exhibit weakness amid the turmoil. A ranking firm gave a third of them lackluster scores.
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