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 Business News
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Dollar Dips Against Euro Before Fed Rate Call
 Agence France-Presse
The dollar wobbled close to record low points against the euro on Tuesday as traders eagerly awaited an interest rate decision from the US Federal Reserve, analysts said.
Worst Crisis Since World War II
 Alan Greenspan
The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the second world war. It will end eventually when home prices stabilise and with them the value of equity in homes supporting troubled mortgage securities.
Mammals Make Economic Splash
 Terry Rodgers
Gray whales' annual migration between Alaska and Baja gives boost to eco-tourism in San Diego and elsewhere along coast.
Firm Helps Mexicans Get Jobs in Canada
 Gabriela Rico
A new Tucson business, playing off the state's new employer-sanctions law, is linking Mexican workers here with high-paying jobs that Canadians aren't doing.
Land Bank Company Subject to New Order to Stop Selling Shares
 Cassandra Kyle
A Saskatchewan Financial Services Commission (SFSC) investigation into a company suspected of illegally selling shares has led to several more cease trade orders placed against a related business and its representatives.
US Dollar's Clout Sinks Worldwide
 Alan Clendenning
Antique store owners in lower Manhattan, ticket vendors at India's Taj Mahal and Brazilian business executives heading to China all have one thing in common these days: They don't want U.S. dollars.
Mexico's Pemex Diving Into Deeper Waters
 Associated Press
Mexico's state-owned oil company says it is developing its deepest underwater natural gas field ever. Developing the Holok-Temoa hydrocarbons complex will involve drilling for new fields under 3,240 feet of water in the Gulf of Mexico.
Truckers' Language Rules Unclear
 Paul M. Krawzak
Mexican truck drivers allowed to travel throughout the United States under the auspices of a pilot program are first required by law to demonstrate proficiency with the English language.
Migrants Still Sending Vast Sums Back to Latin America
 McClatchy Newspapers
Latin American and Caribbean migrants sent relatives back home a record $66 billion last year, but the remittances grew by the lowest rate ever, with Mexico and Brazil showing significant slowdowns.
Inauguration of Satellite Terminal Building at Puerto Vallarta International Airport
 PRNewswire
Grupo Aeroportuario del Pacifico, S.A.B. de C.V. announced that on Friday, the Company officially inaugurated the new satellite terminal building at the Puerto Vallarta International Airport.
Oil Declines as Tensions Ease in Venezuela, Mexico Opens Ports
 Grant Smith
Crude oil fell after Venezuela recalled troops from its Colombian border, allaying concerns of a regional conflict, and Mexico opened oil ports shut by storms.
Mexico’s Ten Billionaires (According to the Forbes List)
 Allan Wall
In Mexico, a country in which about half the population lives under the poverty line, where the per capita income is less than US$7,000.00, Forbes lists ten billionaires. Let’s take a brief look at each.
IETU's Tax Structure in Mexico is Complicating Life for Investors
 Mary Thomas
Since Mexico's "Impuesto Empresarial a Tasa Única," or IETU, law went into effect Jan. 1, questions have swirled for foreign investors. The new law changes the tax structure for organizations doing business in Mexico.
More US Immigrants Buy Property in Mexico
 Ivan Moreno
Despite the nation's foreclosure crisis, such cross-border mortgages are becoming more common as companies seek to capitalize on the growing earning power of Mexican immigrants.
TotalTravelInsurance.com Offers Mexican Auto Insurance to Travelers Going into Mexico
 PR Newswire
Mexican Auto Insurance is now being offered at TotalTravelInsurance.com. Being that we are located in a state that borders Mexico, we feel it is our duty to offer these kinds of plans to our clients.
Official Open to Extending Truck Project
 Paul M. Krawzak
A controversial pilot program to test the safety of Mexican trucks traveling throughout the United States has drawn fewer participants than expected, raising the chance that it might be extended to collect additional results, a top federal transportation official said yesterday.
Mexico Businessmen Unfazed by US NAFTA Threats
 Jason Lange
Mexican factory owners are shrugging off threats by U.S. presidential candidates to retool a major free trade deal but say they would worry if the talk continues after election day in November.
Mexico's Producers Seek to Avert Crisis
 von Adam Thomson
Export-processing factories are trying to break free from dependence on the US economy as a reuslt of the recent slump in the markets and current fiancial crisis, looking to sell to non-traditional markets such as Chile, Peru and Brazil rather than the US.
Mexico Remains a Hot Destination for Foreign Miners
 Gill Montia
Mexico is seeing an influx of mining companies keen to prospect for new sources of precious metals. The country’s rich gold and silver deposits are made even more attractive by its regulatory regime with the result that the value of its mining production rose to a record US$7.2 billion in 2007.
Import Limit Makes '98 F-150 Mexico's Most-Wanted Truck
 Allan Turner
As Mexico on Monday limited used-car imports from the U.S. to those made in 1998, the ever-popular F-150 seemed poised to become one of the most-coveted used vehicles in Mexico. Prices for the truck — and for all other 1998 models — were expected to soar.
Miner in Mexico Hunts Rare and Pricey Germanium
 Mica Rosenberg
Prospectors deep in the desert of northern Mexico are searching for tiny traces of germanium, a minor metal whose price is booming due to high U.S. military spending and export controls by China.
Inflation Causing Pizza And Beer Costs To Rise
 MSNBC
If you’re looking for a sure sign the U.S. economy is headed in the wrong direction, all you need to do is look at the skyrocketing price of “recession-proof” foods: pizza, hot dogs, bagels and beer.
Mexico's Pemex to Raise 2008 Spending by 28%
Catherine Bremer
Mexican state-run oil monopoly Pemex expects to raise spending by a hefty 28 percent this year to around $20 billion, with the bulk going toward exploration and production.
Insurance Company Recovers Stolen Vehicles From Mexico
 Zack Quaintance
Eight battered trucks and SUVs returned to the United States last week months after being stolen and taken into Mexico. Allstate Insurance Co. recovered the vehicles, which belonged to their clients, as part of a new initiative aimed at reversing last year’s 12 percent increase in stolen cars among its Rio Grande Valley.
 No, You Didn't!
 Jessica Tsai
Some advertising campaigns seem like the best idea ever - until the complaints start rolling in. And yet some of the response still remains a matter of perception. The following three campaigns received mixed reviews. You can judge for yourself.
Firm Becomes Licensing Agent for Virgin Guadalupe Images
 USNewswire
A marketing firm specializing in multicultural communication has been chosen as the U.S. licensing agent for images of the Virgin of Guadalupe, Mexico's patron saint.
Mexico Retail Venture Means New Clients for Banorte
 Noel Randewich
A Mexican consumer finance venture with retailer Comercial Mexicana will give Banorte bank extra geographic reach and access to millions of low income clients, the head of Banorte said this week.
Starbucks Expands Shops in Mexico as US Slows
 Mica Rosenberg
Dozens of new Starbucks stores will open this year in Mexico, according to the chain's Mexican partner, part of an overseas expansion plan that could offset slower sales in an oversaturated U.S. market.
Paradise Village Hosts Gala Vallarta 2008
 Nora Ocegueda
Gala Vallarta, a specialized trade show that brings national and international wholesalers and tour operators together with Puerto Vallarta's hotel industry leaders, will be held at the Paradise Village Convention Center March 2-5, 2008.
No Inflation Impact Seen From New Mexico Tax - Cenbank
 Jason Lange & Luis Rojas Mena
Mexican central bank Governor Guillermo Ortiz said on Tuesday he has seen no inflationary impact yet from a new corporate tax, which sets a minimum 17 percent levy on earnings.
Mexican GDP Grows 3.3 Percent in 2007 as Foreign Investment Soars
 E. Eduardo Castillo
Mexico's economy grew 3.3 percent in 2007, slightly faster than the government had projected, as foreign investment soared amid a cooling in the United States, the Treasury Department said Tuesday.
US Consumer Confidence Takes Another Nose Dive
 Martin Crutsinger
In more bad economic news, consumer confidence and home prices posted sharp declines while higher costs for such basics as food and energy left wholesale inflation rising at the fastest pace in a quarter-century.
Citigroup Denies Mexico Unit Sale Plans
 Chris Aspin
U.S. bank Citigroup Inc has no plans to sell its Mexico or other Latin American units, the regional chief executive said in an interview published on Tuesday, denying a report last week in the Wall Street Journal.
Where Cast-Off Cars Get New Lease on Life
 Marla Dickerson
While some Americans are congratulating themselves on switching to fuel-sipping cars, their old gas guzzlers just won't die. U.S. trade policy is giving them new life south of the border.
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