The Mexican Congress has approved a landmark telecom reform bill. CNBC's Michelle Caruso-Cabrera reports the details.» Read More
UNITED NATIONS, July 10- More than half of the world's seven billion people live in urban areas, with the top "mega cities"- with more than 10 million inhabitants- being Tokyo, Delhi, Shanghai, Mexico City and Sao Paulo, according to a United Nations report on Thursday.
MEXICO CITY, July 9- Mexican tycoon Carlos Slim's plan to divest a chunk of his most valuable asset, phone company America Movil, could open Mexico's telecoms market as never before to rivals.
MEXICO CITY, July 9- Carlos Slim's telecommunications company, America Movil, will shed assets to avoid tough new telephone and TV regulations imposed by Mexico's Congress on Wednesday.
MEXICO CITY— The lower house of Mexico's Congress approved tough restrictions on dominant companies in the country's telephone and television sectors early Wednesday after 20 hours of debate and discussion. The rules were already passed by the Senate, but must still be signed into law by President Enrique Pena Nieto, whose party supports the measures.
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MEXICO CITY— The telecom company America Movil said Tuesday that it will sell off some assets to reduce its market share in Mexico in the face of the country's telecommunications reform designed to break up monopolies. America Movil controls about 70 percent of the mobile and about 80 percent of fixed telephone markets in Mexico.
DETROIT, July 8- Subaru of America is recalling 8,557 older model cars in the United States equipped with potentially defective air bag inflators made by Japan's Takata Corp, the automaker and U.S. safety regulators said on Tuesday.
SAN DIEGO— Federal regulators said Monday that they've approved a $3.25 million settlement with an Arizona utility over a 2011 blackout that left millions of people without power in California, Arizona and Mexico.
July 7- William Ackman's Pershing Square Capital Management proposed on Monday a slate of six directors for the board of Allergan Inc as the hedge fund presses forward with its $53 billion takeover bid with Valeant Pharmaceuticals International Inc for the Botox maker.
MEXICO CITY, July 3- Luxury car maker BMW revealed a $1 billion Mexican plant investment on Thursday, becoming the latest major automaker to take advantage of the country's growing industrial base and tariff-free access to the U.S. market.
MEXICO CITY— Germany's BMW announced Thursday it will spend $1 billion to build a new luxury car factory in northern Mexico that will start production in 2019 as part of an effort to expand the company's presence in the United States.
MEXICO CITY, July 3- Luxury car maker BMW revealed a $1 billion Mexican plant investment on Thursday, becoming the latest in a line of major automakers to take advantage of the country's growing industrial base and tariff-free access to the U.S. market.
July 2- Fast-food titans McDonald's, Taco Bell and KFC are conquering the globe, but they are losing to the likes of In-N-Out Burger, Chipotle Mexican Grill and Chick-fil-A in the United States, according to Consumer Reports' latest fast-food survey.
NEW YORK— Coverage of a devastating Oklahoma tornado won an award for deadline reporting and a story on the aftermath of the Connecticut school shootings won one for feature writing from the Associated Press Media Editors for journalism excellence by AP staffers.
DALLAS— After four decades of expanding to all corners of the lower 48 states, Southwest Airlines flew into new territory on Tuesday— Jamaica, the Bahamas and Aruba. Southwest is taking over routes flown by AirTran Airways, which it bought in 2011. The company plans to eliminate the AirTran brand by year end.
BNP PARIBAS SAYS LEVERAGE RATIO WILL BE IMPACTED, TO STAY ABOVE 3 PCT.
WASHINGTON— The attorney overseeing General Motors' compensation to victims of small-car crashes says there's no limit to what the company will pay, provided the crashes were caused by faulty ignition switches. GOP bucking business priorities on Capitol Hill.
*BMW to make announcement in Mexico on July 3. MEXICO CITY/ MUNICH, June 30- Germany's BMW AG will unveil this week plans to build a new factory in Mexico, a government official said, as the company seeks to meet growing demand for premium cars.
PITTSBURGH— Paint and coatings maker PPG Industries is buying Consorcio Comex SA de CV for $2.3 billion to help bolster its architectural coatings presence in Mexico and Central America. Comex makes coatings and related products in Mexico and sells them in Mexico and Central America.
MEXICO CITY— Automakers Daimler and Renault-Nissan say they will build a $1.36 billion plant to manufacture Infiniti and Mercedes-Benz brand compact vehicles. The companies announced Friday that construction on the plant would begin in 2015 in the northern state of Aguascalientes.