Business News Mexico

  • BRASILIA, Feb 20- The coronavirus outbreak in China may be altering the 2020 investment outlook for Latin America, souring sentiment toward regional free market beacons Chile and Brazil, while turning heads- and cash- toward left-leaning Mexico. It is a similar situation for Peru and Brazil- a leading iron ore producer- where almost a third of all exports go to...

  • LONDON, Feb 20- A new "freshwater" charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up to $370 million a year, marking another blow for maritime companies already hit by fallout from the coronavirus. The Panama Canal, one of world's busiest shipping routes, which handled nearly 14,000 transits last year,...

  • MEXICO CITY, Feb 19- Mexican law enforcement authorities are investigating a former president, Enrique Pena Nieto, as part of an inquiry into corruption, the Wall Street Journal reported on Wednesday. Pena Nieto has become embroiled in the investigation of Emilio Lozoya, the former chief executive of Mexico's state oil firm Petróleos Mexicanos, or Pemex.

  • MEXICO CITY, Feb 19- Former Mexican President Enrique Pena Nieto is being investigated as part of a corruption probe by Mexican law enforcement, the Wall Street Journal reported on Wednesday. Pena Nieto has become embroiled in the investigation of Emilio Lozoya, the former chief executive of Mexico's state oil firm Petróleos Mexicanos, or Pemex.

  • MEXICO CITY, Feb 14- Mexico's oil regulator fired 18 employees on Friday that formed part of a unit responsible for supervising some 100 exploration and production contracts won at auction by private companies including U.S.-based Exxon Mobil Corp and Britain's BP. The regulator, known as the National Hydrocarbons Commission or CNH, said in a statement the...

  • MEXICO CITY, Feb 14- Mexico's oil regulator fired 18 employees on Friday that formed part of a unit responsible for supervising some 100 exploration and production contracts won at auction by private companies including U.S.-based Exxon Mobil Corp Britain's BP. The unit also oversees plans for several hundred leases belonging to state oil company Pemex.

  • LONDON, Feb 14- When Victoria Beckham sends her models down the London catwalk on Sunday, many of her most important clients will not be sitting in the front row but following from afar as the coronavirus outbreak hobbles international events. Caroline Rush, head of the British Fashion Council, said it wanted to keep dialogue open and buyers engaged.

  • global economy from China's coronavirus outbreak would not. Europe's broad Euro STOXX 600 hit a record high, gaining 0.1% to mirror gains in Asia after a choppy start to the day. Indexes in London and Frankfurt gained 0.1% and 0.2% respectively, with the former moving higher after AstraZeneca shares turned positive.

  • LONDON, Feb 14- Investors poured money into most asset classes last week, with bond funds attracting $23.6 billion and equities and emerging markets benefiting too, analysts at BofA said, noting the high levels of cheap money available after 800 rate cuts worldwide since the financial crisis. As infection rates slowed, high-yield bonds saw their strongest...

  • LONDON, Feb 14- Investors poured money into most asset classes last week, with bond funds attracting $23.6 billion and equities and emerging markets benefiting too, analysts at BofA said, noting the high levels of cheap money available after 800 rate cuts worldwide since the financial crisis. As infection rates slowed, high-yield bonds saw their strongest...

  • Feb 13- Mattel Inc on Thursday beat estimates for quarterly profit as it benefited from a robust cost-cutting program, even as holiday season sales of its flagship Barbie brand in North America were pressured by Hasbro Inc's "Frozen" dolls. Mattel now expects $50 million in savings in 2020 from a "capital light program", which includes the closure of four factories...

  • MEXICO CITY, Feb 13- Walmart de Mexico, Mexico's largest retailer, on Thursday reported fourth quarter net profit of 11.2 billion pesos, a 4.5% drop over the same period last year. The company known locally as Walmex posted a 4.7% increase in revenues to 185.7 billion pesos in the quarter, due to growth in its core Mexico market as well as Central America.

  • MEXICO CITY, Feb 13- Mexico's central bank cut its benchmark interest rate on Thursday for a fifth straight meeting, lowering it 25 basis points to 7.0% as expected, amid a backdrop of a stagnating economy and slightly above-target headline inflation. Diaz de Leon said uncertainty surrounding the trade relationship with top trade partner the United States and...

  • MEXICO CITY, Feb 13- Walmart de Mexico, Mexico's largest retailer, on Thursday reported fourth quarter net profit of 11.2 billion pesos, a 4.5% drop over the same period last year.

  • MEXICO'S WALMART DE MEXICO REPORTS Q4 NET PROFIT OF 11.2 BILLION PESOS.

  • MEXICO'S WALMART DE MEXICO REPORTS Q4 REVENUE OF 185.7 BILLION PESOS.

  • Feb 13- Mattel Inc reported a rise in adjusted quarterly profit on Thursday as the company kept a tight leash on costs, even as holiday season sales of its flagship Barbie brand in North America were pressured by Hasbro Inc's "Frozen" dolls. The company exceeded its initial 2019 cost-cutting target of $650 million by 35% as Chief Executive Officer Ynon Kreiz looks...

  • MEXICO CITY, Feb 13- Mexico's central bank cut its benchmark interest rate for a fifth straight meeting on Thursday, lowering it 25 basis points to 7.0% as expected, amid a backdrop of a stagnating economy and slightly above-target headline inflation. But he said the outlook had a silver lining as uncertainty has dissipated somewhat after a new regional trade...

  • MEXICO CITY, Feb 13- Mexico's central bank cut its benchmark interest rate for a fifth straight meeting on Thursday, lowering it 25 basis points to 7.0% as expected, amid a backdrop of a stagnating economy and slightly above-target headline inflation. "Based on the most recent data, gross domestic product in 2020 is forecast to grow less than estimated in the...

  • MEXICO CITY, Feb 13- Mexico's central bank cut its benchmark interest rate for a fifth straight meeting on Thursday, lowering it 25 basis points to 7.0% as expected by the market, in the context of a stagnating economy and slightly above-target headline inflation. "Based on the most recent data, gross domestic product in 2020 is forecast to grow less than estimated...