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 Business News
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Markets Tumble Amid Worries on US Growth
 Floyd Norris & Vikas Bajaj
Stock prices tumbled across much of the world Thursday amid worries of slowing economic growth in the United States and more difficult borrowing conditions that could make everything from leveraged corporate buyouts to purchases of new homes more difficult.
Mexico Central Bank Slams Welfare, Urges Job Reform
 Reuters
Mexico's welfare programs encourage the poor not to take formal jobs, the central bank chief said on Thursday, while calling for an overhaul of the country's labor laws.
Mexico's Televisa Says Gaming Tax Too High
 Cyntia Barrera Diaz
Mexican broadcaster Televisa, which has a growing betting business, said on Tuesday it is trying to convince the government that a planned 20 percent tax on gaming is too high and will hurt the industry.
Mexico's Peso Falls Sharply on US Economy Concerns
 Reuters
Mexico's peso fell sharply on Wednesday on concerns about the U.S. economy, while a stiff loss in bellwether telecom America Movil pushed down stocks.
Young Americans Seeking Opportunities in Mexico
 Angela Kocherga
Mexico has long been a favorite spot for retirees, but now a younger generation is crossing the border in search of opportunities, as more Americans are calling Baja California home than any other Mexican state.
Mexican Farmers Switching to Corn Could Create Tequila Shortage
 Angela Kocherga
Tequila is key to a great margarita, but many farmers in Mexico are now ditching the blue agave plant used to make the liquor to cash in on corn and the demand for alternative fuel — and some say that could lead to the great tequila shortage.
Puerto Vallarta ATM Users - Beware of Fraud!
 PVNN
Over the last month, a number of credit and debit card holders have reported that fraudulent withdrawals have been made to their accounts after using Banamex, HSBC, Banorte and other ATMs in Puerto Vallarta and around the Bay of Banderas.
China blocks US, Mexico Bids for WTO Action on Industrial Support
 Agence France-Presse
China on Tuesday followed standard WTO practice by blocking a first US and Mexican request to set up a World Trade Organisation panel to examine allegedly illicit Chinese industrial subsidies.
Mexican Billionaire Carlos Slim Criticizes Antitrust Regulator
 Associated Press
Mexican billionaire Carlos Slim, who may be the world's richest man, criticized a top antitrust regulator who has vowed to investigate the dominance of his telephone companies.
Mexico's Telmex Bets on Internet to Drive Growth
 Chris Aspin
Telmex, Mexico's largest fixed-line telephone company, is betting broadband Internet will drive growth in coming years to offset modest expansion in traditional phone lines, executives said on Friday.
LatAm Oil Slumps Could Hit US Supply
 Brian Ellsworth & Catherine Bremer
Falling oil production in Venezuela and Mexico, Latin America's biggest suppliers of crude to the United States, could deepen U.S. reliance on shipments from the Middle East and Africa.
After Six Years, the Global Trade Talks Are Just That: Talk
 Steven R. Weisman
Soon after Sept. 11, 2001, the United States helped start a round of global trade talks aimed at getting rich countries to lower trade barriers so that poor countries could prosper by exporting goods, not terrorism. But it was never that simple.
MEXLend - Refinancing in Puerto Vallarta
 Patrick Harrison
Puerto Vallarta-based MEXLend, an industry-leading mortgage broker in Mexico, has closed the first GE refinancing loan in Vallarta, and only the second in Mexico, marking the beginning of many more financing options to fund in Banderas Bay.
South Africa and Mexico Identify Similar Challenges
 BuaNews
South Africa and Mexico have pledged to help each other in similar developmental challenges, identified by both countries during their recent bilateral talks in Mexico.
Mexican Crude Falling, Will Drop More
 Prensa Latina
The coming drop in Mexican hydrocarbon production together with a lack of new alternative sources is causing alarm among specialists, who doubt that trend's reversal.
Mexico's Calderon Getting Closer to Tax Reform
 Jason Lange
Mexican President Felipe Calderon is closing in on a landmark victory in Congress to rewrite tax laws after courting the opposition party that torpedoed his predecessor's reform agenda.
A Growing Security Problem Confronts Investors in Mexico
 von Adam Thomson
Pick up just about any newspaper in Mexico these days and the chances are that reports of crime, particularly drug-related crime, will be splashed all over the front pages. Against this backdrop, businesses in Mexico have become increasingly concerned.
Slim's Companies to Face Antitrust Probe in Mexico
 Adriana Arai
Carlos Slim, who vies with Bill Gates as the world's richest man, may face increased scrutiny at home as Mexican antitrust regulators step up efforts to curb the dominance of the telephone companies that created his fortune.
Mexico a Good Market for Novice US Exporters
 Jan Norman
When business owners consider exporting, their thoughts often travel halfway around the world. Karen Zens, the U.S. Commerce Department's highest-ranking trade official in Mexico, wants companies to remember that Mexico is one of the best markets for novice exporters.
Latin American Scrap Metal Thieves Profit at Their Poor Countries' Expense
 PR Inside
Soaring metal prices driven partly by demand from China have motivated bandits across Latin America to plunder communication lines, traffic lights and other wiring to feed their families. In the process, they are cutting electricity to entire neighborhoods and damaging struggling economies.
Mexican President Could Rectify His Tax Reform
 Prensa Latina
Mexican President Felipe Calderon has admitted to be willing to rectify the tax reform proposal presented by his government in mid June, and is being discussed in the Deputy Chamber of the parliament.
Mexican Tycoon Overtakes Bill Gates as World's Richest Man
 Kazinform
Microsoft founder Bill Gates looks to have lost his title as the world's richest man, toppled from top spot by the Mexican telecoms tycoon Carlos Slim.
Mexico's Rating Outlook Raised by S&P, Sparking Rally
 Valerie Rota
Mexico's credit rating outlook was raised to positive from stable by Standard & Poor's, fueling a surge in the country's currency, stocks and government bonds.
Investment Opportunity of a Lifetime?
 Free-Market News Network
When silver finally begins its explosive up-move, most people will no doubt be taken by surprise. Looking back, historians will chronicle threads seen to be critical to its rise, but which were not fully appreciated at the time.
Mexico's Pemex Hopes Tax Reform Will Free Up Cash To Invest
 Peter Millard
Petroleos Mexicanos has high hopes an upcoming tax reform will free more money for its oil and gas operations, but some question whether the company can meet exploration and production targets without opening the industry to foreign capital.
The Related Group
 Multi-Housing News
Related International recently debuted in Mexico with ICON Vallarta in Puerto Vallarta, a five-acre, three-tower oceanfront development with interiors designed by Yoo by Phillipe Starck. Related plans to erect upscale condominiums and hotels in other tourist locations in Mexico including Acapulco, Cabo San Lucas, Playa del Carmen and Xihuatanjeo.
ICON Vallarta Sells Out Tower One in Just Three Days
 Business Wire
Related International and the Chartwell Group today announced the sellout of Tower One of ICON Vallarta, surpassing planned sales objectives for the initial release. It took just three days to sell the initial 130 properties offered, which generated more than $70 million in revenue.
Tequila Sun Sets on Fields of Fortune
 Oscar Avila
Tequila could be the ruin of Fernando Chavarin, who has invested $18,000 to grow agave, the spiky plant and raw material for Mexico's national liquor. He couldn't resist jumping in. Agave prices had soared because planting had not kept up with the global thirst for tequila. Unfortunately, thousands of other farmers had the same idea.
UPI Poll: Where Oil Comes From
 UPI
Participants in a UPI-Zogby International poll tabbed Saudi Arabia, rather than Canada, as the country that provides the most oil to the United States.
Calderon No Fox in Mexican Pension Crisis, Bid to Raise Taxes
 Adriana Arai & Patrick Harrington
Under Fox, who like Calderon led a minority government, Congress rejected a laundry list of initiatives designed to speed growth and create jobs. Investors are hoping Calderon's recent pension victory signals that his hands-on, methodical approach will bring real change.
Mexico Tax Dodgers One Step Ahead of Government
 Greg Brosnan
The ink is barely dry on a new bill aimed at cracking down on fiscal evasion but with savvy Mexicans already figuring ways to avoid the taxman, the government will struggle to contain the black economy.
Mexico's Shoe Industry Fights for Survival Against Foreign Competition
 ftababedin
For years well over 1,200 Mexican companies have made leather shoes, handbags and clothes, without having to fear any foreign competition. However, the free trade agreements Mexico signed with various countries since the 1990s have opened the domestic market.
Latin Americans Find Their Niche
 John Price
Latin America is half way through its fifth successive year of expansion, a boom that has lifted dollar-measured regional GDP by 14.8 percent per year since it bottomed out in 2002.
Mortgage Rate Rise Pushes US Housing, Economy to "Blood Bath"
 Kathleen M. Howley
The jump in 30-year mortgage rates by more than a half a percentage point to 6.74 percent in the past five weeks is putting a crimp on borrowers with the best credit just as a crackdown in subprime lending standards limits the pool of qualified buyers.
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