“It’s the worst I’ve seen," said a Cabo San Lucas restaurant owner, "It is definitely the worst."For a Mexican tourist hotspot like Cabo, that's bad news. One of the busiest tourist seasons for the area comes during the months of March and April, coinciding with the American spring break season. Spring break, the long-time college tradition of excess and irresponsibility, is a time that many tourist destinations depend on to bolster their profits, banking on the liberal spending habits of Americans on vacation.
Mexico's economy is struggling even more than ours, as 40 percent of the country's GDP is based on oil, and prices are plummeting (I saw gas in LA this week for only $2.25! Ay carumba!).
There are only a handful of billionaires around the world who are playing in Warren Buffett's league. Mexico's Carlos Slim is one of them. In a very rare on-camera interview with CNBC's Michelle Caruso-Cabrera, Slim talks about Buffett and his two recent multi-billion dollar investments in Goldman Sachs and General Electric.
So how is Tiger Woods, recovering from a bad knee, spending his free time? By becoming a home builder! Woods has just announced his third golf course community, south of the border in Ensenada, Mexico. Called "Punta Brava" ("wild point"), it will be built along a seven-mile rocky peninsula extending into the ocean.
Tropical Storm Dolly headed for Mexico's Yucatan Peninsula on Sunday bearing heavy rains and winds, but it posed no immediate threat to Gulf oil installations slightly south of its projected path.
SABMiller, the world's largest brewer, has held informal discussions with Grupo Modelo and InBev to explore options including a merger of Modelo and SABMiller, according to sources familiar with the situation.
Are surging food & energy prices making emerging markets too risky for investors?
Anheuser-Busch said Friday that Carlos Fernandez, chairman and chief executive of Mexican brewer Grupo Modelo, has resigned from the U.S. brewer's board of directors.
Belgian brewer InBev warned U.S. rival Anheuser-Busch on Sunday that it should fully explore its $46 billion takeover offer before striking out to do any potential deal with Mexico's Modelo.
Brazil's strong growth-- fueled by red-hot commodities exports and a strong domestic demand-- offers investors a growing range of options.
More than a quarter of US employers expect more of their high-skill positions to be shipped overseas.
The largest beverage firm in Latin America might be the real thing.
Mexico is one of only a few global markets in the green this year. How long can they sustain growth as the economy of their northern neighbor falters?
Trouble is brewing for the King of Beers, Cramer says. Here's how to trade it.
As the second quarter begins, and uncertainty in the U.S. market prevails, investors might want to start looking south for some opportunities. For the first quarter, Latin American indices were amongst the best performers around the globe.
Best Buy earnings Wednesday may offer a window into health of tech spending. What will they say about TV and computer sales and what does it mean for Corning, Dell and all the major players? Also the global markets trade.
Warren Buffett is now the world's richest person, topping the just-released Forbes 2008 ranking of global billionaires, with an estimated wealth of $62 billion. He bumps Microsoft's Bill Gates from the number one spot, a position Gates held for 13 consecutive years. Mexico's Carlos Slim is number two.
The best investment in Brazil is from Mexico.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The economy's so bad, Cramer says, they have no choice.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Western Europe has long been the most popular getaway for U.S. tourists, but rising airfare and the weak dollar may have Americans traveling to more exotic destinations in 2008.