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Business Mexico

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  • MEXICO CITY— Mexican President Enrique Pena Nieto sent his written state-of-the-nation report to Congress on Tuesday in an atmosphere of rising violence, a falling currency and a slowing economy. At the time, Pena Nieto was delivering on his main pledge, which was to reduce Mexico's drug-war-era violence. And the administration suffered a major...

  • MEXICO CITY, Sept 1- Mexico's government withheld hundreds of millions of dollars in tax refunds owed to Procter& Gamble, Unilever, and Colgate combined as it sought to coax them and other multinationals to pay more income tax locally, according to people close to the talks. After luring foreign companies with corporate tax breaks for years, Mexico moved to boost...

  • Corruption scandal moves closer to Guatemalan president Wednesday, 26 Aug 2015 | 8:55 AM ET

    GUATEMALA CITY— Guatemala's Supreme Court has taken the first step in allowing impeachment proceedings against President Otto Perez Molina and his former Vice President Roxana Baldetti has been ordered to stand trial in a fraud case that has pushed the country into political crisis. "It's very exciting in some ways for those who forever have been deeply...

  • NEW YORK— Republican presidential candidate Donald Trump repeated his claim Tuesday evening that he would stop eating Oreos, citing the cookie maker's decision to close a plant in Chicago and move it to Mexico. Oreo's parent company Mondelez International Inc. said last month that it decided to invest $130 million in building four new production lines at a...

  • OSHKOSH, Wis.— Wisconsin- based Oshkosh Corp. won a major contract Tuesday to build a new combat vehicle to replace a large share of the U.S. military's Humvee troop carriers. The Army and Marine Corps plan to buy as many as 55,000 JLTVs by 2040. Nearly 49,100 would be built for the Army with 5,500 going to the Marines. Pentagon officials declined during a briefing for...

  • Success stories until recently, emerging economies are seen as casualties now— of slower growth in China, plunging prices for commodities like oil and iron ore, the prospect of higher U.S. interest rates and homegrown threats. The damage has spilled across oceans, with the turmoil jolting investors in New York, Tokyo and Europe. Investors there worry that China...

  • It ain't over till the Fed lady sings: Insana Friday, 21 Aug 2015 | 12:58 PM ET
    Traders work on the floor of the New York Stock Exchange.

    From the commodities swoon to China, the markets are flashing warning signs that the Fed needs to heed, says Ron Insana.

  • MEXICO CITY, Aug 20- Mexican economic growth picked up in the second quarter as the services sector expanded at its fastest pace in a year, offsetting flat industrial output hit by wobbling exports and sinking oil production. Services picked up to 0.9 percent growth from 0.7 percent in the prior quarter, its fastest pace since the second quarter of 2014. But...

  • MEXICO CITY— The Mexican Treasury Department on Thursday lowered its economic growth forecast for 2015 to between 2 percent and 2.8 percent. Treasury Deputy Secretary Fernando Aportela said the economy was limited in the second quarter by disappointing industrial activity in the United States, which accounts for 80 percent of Mexico's international...

  • Flamboyant Trump evolved into cautious businessman Thursday, 20 Aug 2015 | 11:42 AM ET

    NEW YORK— Donald Trump sells himself as a bold empire builder, the kind of businessman who could force through big changes in Washington as president. But that's not his money, "says Don Peebles, a real estate developer who oversees a $5 billion real estate portfolio. In the past decade, Trump has struck deals to put his name on at least a dozen properties built and...

  • MEXICO CITY— Authorities in northern Mexico found 63 children between the ages of 8 and 17 working long hours in miserable conditions at a vegetable packing company, officials said Thursday. The state government in Coahuila, which borders Texas, said the minors told authorities they had only a half-day off each week and were paid 100 pesos a day, slightly higher...

  • Oil’s latest casualty: Mexico Thursday, 20 Aug 2015 | 9:04 AM ET

    "Another disappointing year" looms for Mexico, with growth hit by the rout in the oil price and falling crude production.

  • San Diego- based Petco, which started in 1965 as a mail-order company, operates over 1,400 stores across the United States, Mexico and Puerto Rico. Petco was taken private in a $1.8 billion leveraged buyout by TPG Capital and Leonard Green& Partners in 2006.. Reuters reported earlier this month that Petco had hired Goldman Sachs to lead an IPO or sale that could...

  • How China's yuan move hurts emerging markets Monday, 17 Aug 2015 | 1:52 PM ET
    A vendor holds Chinese Yuan notes at a market in Beijing.

    China's move to devalue the yuan will impact emerging markets in several ways and investors should beware, says UBS's Jorge Mariscal.

  • MEXICO CITY, Aug 14- An historic crude oil swap between the United States and Mexico is "great news" for both countries, and Mexico's national oil company Pemex expects the permit by the end of this month, the head of its commercial arm said on Friday. Reuters reported earlier on Friday that the Obama administration will allow limited sales of U.S. crude to Mexico for...

  • MEXICO'S PEMEX SAYS ITS TULA AND SALAMANCA REFINERIES WILL PROCESS FIRST IMPORTS OF LIGHT CRUDE- PMI CEO.

  • Ford moves commercial truck production to Ohio from Mexico Wednesday, 12 Aug 2015 | 12:01 AM ET

    DETROIT, Aug 12- Ford Motor Co on Wednesday will start building its medium-duty F-650 and F-750 commercial trucks at a Cleveland- area plant, moving production out of Mexico for the first time. The shift to the 41- year-old plant in Avon Park, Ohio means that about 1,000 workers represented by the United Auto Workers union will keep their jobs, Jimmy Settles, UAW vice...

  • MEXICO CITY, Aug 10- A new partnership between U.S.-based power company AES Corp and Mexico's Grupo Bal launched on Monday will invest up to $2.5 billion over the next five years mostly in Mexico's newly opened power sector, a top AES executive said in an interview. The 50/ 50 joint venture with Grupo Bal aims to direct about three-quarters of the five-year...

  • Another reason factories are moving to Mexico Monday, 10 Aug 2015 | 1:58 PM ET
    An employee inspects a Volkswagen Jetta at the company's assembly plant in Puebla, Mexico.

    Recent reforms are now helping Mexico's slow but somewhat steady rise as a manufacturing hub for multinational corporations.

  • MEXICO CITY, Aug 4- Mexican miner Penoles said on Tuesday its net profit rose 42.5 percent in the second quarter as gold production increased and net financial costs fell. Refined gold production increased more than 9 percent, Penoles said. Although most metal prices declined, Penoles said the depreciation of the peso "mitigated the adverse effects" of lower...