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Business News
««« Click HERE for Recent Business News In Mexico, Doll Factory Helps Counter Illegal Immigration Franco Ordonez
A three-year-old company, named Munecas Mina - "dolls from the mine" - after the abandoned mineshafts that surround Mineral de Pozos, has become six women's main source of income. It's also how they hope to keep their children in school instead of following their fathers to the U.S.
Mexico Calls For Reducing Production of Ethanol Associated Press
Mexico's agriculture secretary says ethanol production is bankrupting cattle and poultry farmers and causing food prices to hit record highs around the world.
Home Buying Heats Up South of the Border Tom Kelly
The cold U.S. housing and mortgage markets have lenders looking for warmer possibilities, and a few are sending more efforts to finance Americans looking to purchase primary residences and second homes south of the border.
Low Mexican Gas Prices Draw Americans Adam B. Ellick
When George Terrazas was mugged at gunpoint in this Mexican border city several months ago, he vowed never to return. That, however, was before gasoline hit $4 a gallon in his hometown, El Paso, just across the border.
Western Union Calling Dollars & Sense
While it has undeniably become easier and more convenient to send money across the border in the last decade, activists charge transfer services, especially Western Union, with taking advantage of their most loyal customers.
In Mexico, Economic Policy has a Human Face: President Felipe Calderón Presidencia de la Repúblic
Mexican President Felipe Calderón declared that his government strives to ensure that economic policy has a human, social face and regards people as its central purpose.
Texas Real Estate Slump Gives Mexicans a Chance to Take It Back Thomas Black
A rising peso and an economy growing faster than the U.S. have given some Mexicans the buying power to take advantage of the housing slump in Texas, which became part of the U.S. under an 1848 treaty that ended a three-year war between the two countries.
Shipments Let Stations Sell Diesel to All Drivers Omar Millán González
Gas stations returned to selling diesel to everyone in Baja yesterday without any limits, after tanker trucks rushed deliveries across the city and state.
Mexico Will Not Cut Gasoline Subisidies - Govt Jason Lange & Luis Rojas
Mexico does not plan to reduce subsidies on gasoline, Deputy Finance Minister Alejandro Werner said on Monday, even though the government faces increasing costs from soaring international oil prices.
US Searches for Salmonella in Mexico Mark Stevenson
U.S. Health and Human Services Secretary Michael Leavitt said Monday the United States wants to open an office in Latin America to monitor food safety.
What Recession? Trips On Private Jets Soar Suzette Parmley
Jason Spillerman eased into one of the eight leather seats aboard the Hawker 400XP, a favorite jet among the rich, and looked quite content. The Philadelphia real estate developer travels quite a bit, and said he "got a taste" of private flying from his wealthy clients.
Texan Sentenced to Prison for Sea Turtle Smuggling Associated Press
A businessman from McAllen, Texas, has been sentenced to 16 months in prison on charges of smuggling the skins of endangered sea turtles and other exotic leathers from Mexico to the United States.
Mexicans Move Across Border to Flee Drug Crime Chris Hawley
In U.S. cities along the border, middle-class Mexicans are buying homes or renting apartments and even moving their businesses across the border, say real estate agents, chambers of commerce and city officials. Many are getting investor visas for a long-term stay.
Private Tourist Investment Totals $2.803 billion USD during First Four Months of Year Presidencia de la República
The SECTUR director noted that during the past 16 months of President Felipe Calderón’s administration, Mexico has accumulated $6.267 billion USD, as a result of which it has achieved 31% of its six-year goal of $20 billion USD.
Mexico Bank May Keep Rate Unchanged After Accord to Hold Prices Jens Erik Gould
Mexico's central bank will probably keep its benchmark interest rate unchanged for an eighth month after industry leaders agreed to freeze the price of tortillas, canned tuna, coffee beans and about 150 other items this year.
U.S. Slowdown Squeezes Mexico's Migrant Worker Bounty Jason Lange
The mountain of cash sent home by Mexicans in the United States is shrinking for the first time in over a decade, putting the dampers on Mexico's economy as a U.S. slowdown takes work away from immigrants.
Fuel Shortage in Baja California KGBT4
U.S. drivers crossing into Mexico in search of cheaper gasoline and diesel fuel are straining fuel supplies in Baja California. Gas station owners told the San Diego Union-Tribune that they are changing the way they sell gas.
The Economic Benefits of NAFTA to the United States and Mexico Heidi Sommer
Although there have been calls to renegotiate or suspend NAFTA, after nearly 14 years under the treaty it is clear that both Mexico and the United States have benefitted from more open trade.
Border Fight Over Gulf Oil Simmers Between U.S., Mexico Marla Dickerson
Eight miles north of the maritime border with Mexico, in waters a mile and a half deep, Shell Oil Co. is constructing the most ambitious offshore oil platform ever attempted in the Gulf of Mexico.
US-to-Mexico Remittance Card Offers ATM Cash ePaynews.com
InComm, a U.S prepaid card processor, is marketing an instant cross-border remittance card that can be redeemed at Mexican ATMs. The card is being targeted at unbanked consumers in the U.S. and Mexico.
InBev Tells Anheuser-Busch Not to Pursue 'Alternative' Deal Duane Stanford & Caroline Salas
InBev NV, which is attempting to take over Budweiser maker Anheuser-Busch Cos. for $46.3 billion, told the U.S. brewer not to pursue other transactions that would derail its unsolicited bid.
A Primer on Dirty Money John Burnett
The Drug Enforcement Administration estimates $12 billion in drug profits is repatriated from the United States — the world's largest narcotics market — back to Latin America each year.
Canadian Autoworkers Fight Back The Real Network
Union members from across Ontario setup a blockade at the General Motors Canadian headquarters in Oshawa on June 4th, one day after GM announced they would be shutting down a truck assembly plant cutting 2600 hundred jobs next year.
Mexico Stock Exchange Rises in IPO, Spanish Take Shares Noel Randewich
Shares of Bolsa Mexicana de Valores, Mexico's stock exchange, rose more than 6 percent Friday in a $440 million initial public offering that helps it forge links with foreign exchanges.
Mexico's Infonavit Places $335M in Mortgage Debt Noel Randewich
Mexican mortgage lender Infonavit said on Wednesday it placed 3.5 billion pesos ($335 million) worth of mortgage-backed debt with investors at a low yield despite concerns about worsening inflation.
As U.S. Economy Sours, Mexicans Send Less Money Home Jay Root & Constanza Morales
The challenges the Chavollas face tell of a looming financial crisis that reaches across Mexico, where families who depend on money sent from relatives in the United States — called remittances— are opening up lighter envelopes or waiting longer to get them.
Salmonella Fear Traps Tomatoes in Mexico Olga R. Rodriguez
Export-quality tomatoes labeled "Ready to Eat" in English flooded Mexico City markets on Thursday after a salmonella scare in the U.S. trapped them south of the border.
Mexico's Homex to Sell $200 Million in Bonds to Fund Expansion Fabiola Moura & Jose Enrique Arrioja
Desarrolladora Homex SAB, Mexico's largest homebuilder, plans to raise as much as $200 million from a domestic or U.S. bond sale to increase its market share among middle class buyers and foreigners buying second homes.
Mexico is Experiencing a Moment of Major Transformations: President Calderón Presidencia de la República
President Felipe Calderón invited Spanish businessmen to invest in Mexico, since it has become a strategic place for participating in economic activities.
US Home Price Drop Means $4 Trillion in Lost Capital Walden Siew
No one knows when the credit crisis will end. But when it does, U.S home prices may have lost a third of their value, high-yield bond valuations will hit levels close to those seen during the last recession, and what may amount to $1 trillion of Wall Street losses may translate into almost $4 trillion of lost access to capital.
Mexico Investors Welcome Telmex's $16 Billion Spinoff Chris Aspin & Noel Randewich
Investors welcomed Telmex Internacional onto the Mexican stock market Tuesday, valuing the spinoff of South American assets from telecoms giant Telmex, controlled by tycoon Carlos Slim, at about $16 billion.
Mexico Inflation Accelerates to Fastest in 3 Years Jens Erik Gould
Mexico's annual inflation rate jumped more than economists forecast last month to its highest in more than three years, driven by food, housing and air transportation costs.
Mexican Growers Stop Tomato Shipments to US Amid Salmonella Scare Associated Press
A major Mexican tomato-growers' association says shipments to the United States have stopped as U.S. authorities investigate the origin of a salmonella outbreak.
Global Employment Poll Reveals Weaker Job Prospects RP News Wires
Employers in most of the world's major labor markets are less optimistic about hiring in the third quarter, saying they will add fewer employees to their payrolls compared to one year ago, according to the Manpower Employment Outlook Survey of global hiring trends released June 10 by Manpower Inc.
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