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 Business News
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Baja Balks at New Rules for U.S. Cash
 Sandra Dibble
The U.S. dollar has long been a common currency in Baja California, used in cash payments for everything from secondhand cars to monthly rents to restaurant meals. Now new efforts against money laundering by Mexico’s federal government threaten to curb the practice.
Riviera Nayarit CVB to participate in MPI World Education Congress Vancouver
 RivieraNayarit.com
The Meeting Professionals International (MPI) slogan reads, "When we meet, we change the world." MPI is a worldwide association for organizers of congresses, events and conventions, and when they hold their World Education Congress in Vancouver from July 24-27, Riviera Nayarit's CVB will be there.
Latin America Grows Despite Global Uncertainties
 Daniela Estrada
More fixed capital investment to improve competition, greater added value to exported goods and services, and tax reforms to finance social policies are some of the challenges Latin America and the Caribbean face in the uncertain global economic panorama.
Mexico's Economy To Grow More Than 4% This Year: Minister
 Xinhua
Mexico's economy will grow more than 4 percent this year, Economy Minister Bruno Ferrari said this week.
Spain's Renewable Energy Heads West
 Clarinha Glock
Plagued by Spain's economic recession and subsidy cuts, renewable energy businesses are following the sun and wind to Latin America in search of profits.
Mexico's Trade Deficit Widens In June
 RTTNews
Mexico's trade deficit widened to US$340.5 million in June from US$168 million recorded last year, official data showed Friday.
Bonds Top Mexican Stocks by Most Since 2005 on Record Consumer Price Drop
 Andres R. Martinez & Jonathan Roeder
Mexico’s government bonds are beating stocks by the most in at least five years amid a record decline in consumer prices and concern economic growth will slow in the U.S., the nation’s biggest export market.
 A Fracking War: Industry Tries - and Fails - to Debunk "Gasland" Film
 Mike Ludwig
The information war over the natural gas drilling practice commonly called "fracking" is heating up as filmmaker Josh Fox responds to an industry attempt to debunk his hit film "Gasland."
BP's Long, Bloody History of Reckless Greed
 Al Hart
British Petroleum (now known as BP), the company responsible for the worst single-source environmental catastrophe in U.S. history, has over its 100-year history caused a number of environmental and workplace disasters. But the harm BP has caused goes further.
Carl Timothy on Today's Puerto Vallarta Real Estate Market
 PVNN
With the local real estate market in flux, we decided to ask Banderas Bay area realty expert Carl Timothy for his take on the state of the residential real estate market in Puerto Vallarta and the Riviera Nayarit.
Consumers Love Underdogs
 Mary-Ann Twist
Consumers strongly relate to brands that they perceive as underdogs, according to a new study in the Journal of Consumer Research.
Mexico Secures $500M Loan for Housing Projects
 MENAFN
The Inter-American Development Bank (IDB) provided $500 million in loans to Mexico for housing projects, Reuters reported.
 MEXLend Unveils New Websites for US Dollar and Now, Mexican Pesos Loans
 Patrick Harrison
Puerto Vallarta-based MEXLend, an industry-leading mortgage broker in Mexico, recently unveiled two new websites that offer access to the multiple loan options available in Mexico through FAQ's, step-by-step instructions and advice on how to make your dream of owning property in Mexico a reality.
The Myth of the Global Economy
 Ian Fletcher
It may come as a shock to many that, in reality, the cliché that we live in a borderless global economy does not survive serious examination. The key is to ignore the Thomas Friedmanesque rhetoric the media is flooded with and get down to some hard numbers.
Mexico City Hosts 'Capital Forum: State of Mega-Cities Around the World'
 Gobierno del Distrito Federal
The Mexico City Ministry of Finance announced today that it will host "Capital Forum: State of Mega-Cities Around the World," an international event jointly organized by the Government of Mexico City and the Economic and Social Council of Mexico City.
American Corporations Want More Consumers, Fewer Workers
 Robert Parry
A hard truth about the U.S. economy is that corporations don’t need as many of us as workers but still need us as consumers. That dilemma helps explain why unemployment is stuck near 10 percent and why the economic recovery is stumbling toward a double dip.
Carbon Trading Used as Money-Laundering Front: Experts
 Agence France-Presse
Organised crime gangs are using carbon emissions trading schemes as fronts for money-laundering, experts warned last week. The experts who attended a meeting of the Asia Pacific Money Laundering Group (APG) said crime syndicates are resorting to new methods to hide their illegal proceeds.
How the Sneaky Hands of the Big Banks Are Working Overtime to Rip You Off
 Zach Carter
After living through the Great Financial Crash of 2008, just about everybody recognizes that megabanks screwed the economy hard and were rewarded with big bailouts, which further screwed over, well, everybody, in the name of banker bonuses.
Are Designer Sunglasses Worth the Price?
 WSJ.com
Maybe not, writes Brett Arends. For starters, most shades are made by the same company. Here's what you need to know before buying.
Mexico Soon Will Require Prescriptions for Antibiotics
 11 News Houston
If the relentless violence has not hurt business enough, now pharmacies in Mexican border towns face a new hurdle.
Mexico May Expand 6% This Year, Catching Up With Brazil, De la Calle Says
 Jonathan J. Levin
Mexico’s economy may expand 6 percent this year as domestic demand increases, said Luis de la Calle, the Mexican economist who helped negotiate the North American Free Trade Agreement.
Mexico Central Bank Holds Interest Rates Steady
Jason Lange & Robert Campbell
Mexico left bank lending rates at a 6-1/2-year low on Friday to boost the still weak economy but policymakers said factory exports were growing quickly and consumer spending showed signs of improvement.
Banks Repossess US Homes at Record Pace
 Lynn Adler
Banks repossessed a record number of U.S. homes in the second quarter, but slowed new foreclosure notices to manage distressed properties on the market, real estate data company RealtyTrac said on Thursday.
Mexico April Gross Investment -1.1 Pct from March
 Patrick Rucker
Mexican gross fixed investment fell by the most in nearly a year, dropping 1.06 percent in April from March, the national statistics agency said this week.
Mexico Offers Financial Grants to Hurricane-Affected Businesses
 Xinhua
Mexico's finance ministry will offer a series of grants and loans to small and medium-sized enterprises (SMEs) affected by Hurricane Alex, it said on Tuesday.
Mexico Housing Recovery Signals Gain for Homebuilders
 Jens Erik Gould & Jonathan J. Levin
Homebuilders are poised to rally as Mexican jobs rise to a record and government-subsidized mortgages boost demand.
Mexico's June Auto Production Doubles To 206,195 Units
 Paul Kiernan
Mexico's auto production more than doubled in June from a year earlier as exports continued to gain market share in the U.S., Canada and Latin America.
Boom Times for North American Millionaires
 AllGov
Wealth accumulation among the richest North Americans (excluding Mexico) grew in 2009, with millionaires in the U.S. and Canada enjoying a 15% increase in their total worth.
Hundreds of Federal Agents Fall Victim to Ponzi Scheme
 Allan Lengel
FBI agents are supposed to unearth scams, not become victims of them. This time is different.
US Credit Scores Hit New Lows
 Eileen Connelly
The credit scores of millions more Americans are sinking to new lows. Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 or below, marking them as poor risks for lenders.
Biggest Defaulters on Mortgages Are the Rich
 David Streitfeld
No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars. The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged enclaves.
Grupo Mexico to Buy 10 Pct Stake in Airport Operator
 Mica Rosenberg
Mexican mining and infrastructure company Grupo Mexico said on Friday it acquired a 10 percent stake in airport operator GAP.
EU Gives US Access to Its Citizens' Financial Data
 Robert Verkaik
US anti-terrorism investigators have won the right to scrutinise the private bank details of British and other EU citizens after a crucial vote in the European parliament yesterday.
Mexico May Raise 2010 Growth Forecast, Cordero Says
Laura Price & Juan Pablo Spinetto
Mexico’s government is likely to raise its 2010 economic growth forecast following an increased estimate from the International Monetary Fund, Finance Minister Ernesto Cordero said.
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