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 Business News
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Mexican Tourism Could Lose $4 Billion from Flu Scare
 Luis Rojas
Mexico could lose up to $4 billion in tourism income after foreign visitors canceled trips to popular beach resorts and colonial towns due to the flu scare, Tourism Minister Rodolfo Elizondo said on Monday.
Swine Flu is Windfall for Some US Tourism Spots
 Travis Reed
What cruise passengers are losing in sunshine and tan lines, their new destinations are gaining in millions of dollars of business.
C'mon Canada, Give Us a Break
 PVNN
While a number of U.S. carriers are reducing their flights to Canada as a result of the swine flu outbreak, Canadian carriers are being even more cautious, cancelling or suspending to several Mexico beach vacation destinations until June 20 at the earliest.
A Bad Case of Pneumonia for the Mexican Economy
 Cyntia Barrera
At the beginning of 2009, Finance Minister Agustin Carstens candidly anticipated in a TV interview the economy would only “catch a little cold instead of a pneumonia.” The phrase has haunted him ever since.
The Costs of Mexico Real Estate - An In-Depth Look at the Market Today vs. Yesterday
 ConfiCasaMortgage.com
As the market continues to force professionals to determine new business generation strategies, most realtors and developers are now discovering what really fueled the Mexico resort property boom over the last decade.
US Unemployment Rate Rises as Pace of Layoffs Slows
 Annys Shin & Scott Wilson
The ranks of Americans looking for work continued to swell in April, as the nation's unemployment rate rose to 8.9 percent, the Labor Department reported this Friday.
 Former S&L Regulator: Absolutely A Banking Bailout Coverup
 PBS
This Bill Moyers interview is going viral so fast, you can’t even keep up with it. And for a very good reason - former S&L regulator Bill Black explains exactly why the current banking bailout is a mistake.
Mexico Says Its Economy is in Recession
 Associated Press
Mexico's finance secretary says the country is in an economic recession. Agustin Carstens says "it is a fact that we are in recession."
GAP Reports Decline in April Passenger Traffic
 COMTEX
Mexican airport operator Grupo Aeroportuario del Pacifico SAB de CV (GAP) has reported its terminal passenger traffic results for April 2009.
Mexico Says Pork Import Bans Unjustified, Illegal
 Laura MacInnis
Mexico called on its trading partners on Tuesday to repeal all pork import bans imposed as a result of H1N1 flu virus fears, saying the restrictions had no scientific grounds and violated international trade rules.
Flu Epidemic has Cost Mexico Billions
 Marc Burleigh
Mexico said on Tuesday the swine flu epidemic had ravaged the country's vital tourism industry and cost its economy billions as it looked to reopen shuttered businesses after a five-day shutdown.
Obama Wants Crackdown on Business Taxes
 Philip Elliott
President Barack Obama plans to propose changes to tax policy certain to be unpopular with corporations with international divisions and individuals who use tax havens. Obama also plans to ask Congress for 800 new federal tax agents to enforce his broad requests.
Mexico Tries to Restart Economy After Flu Shutdown
 Peter Orsi
Mexico announced steps Tuesday to jump start an economy punished by the swine flu epidemic. Cinco de Mayo celebrations, however, will have to wait until next year.
Peso Rises Most in Six Months
Valerie Rota
The peso rose the most in more than six months after Health Secretary José Angel Córdova said the swine flu outbreak likely has peaked, bolstering optimism that the economy will begin to recover as businesses reopen.
Mexico to Allow Most Businesses to Reopen
 Associated Press
Mexico's health secretary says most businesses will reopen Wednesday nationwide, citing ebb in the swine flu outbreak.
Mexico, Once in Demand, Loses Its Brides and Grooms
 Michelle Higgins
Add swine flu to the list of potential pre-wedding worries. Many couples who had planned on destination weddings in Mexico this spring or summer are now scrambling to find an alternative spot or postponing their events indefinitely.
Mexico Business Takes a Blow
 The News
Considering the sorry state of the economy before the flu epidemic hit, it is certain that the losses they are incurring now will be the final nail in the coffin for many businesses.
 A Buyer's Market South of the Border - Real Estate Foreclosures in Puerto Vallarta, Mexico
 Jim Scherrer
Because the US has been recently hit so hard financially and Banderas Bay area developers have overbuilt, Puerto Vallarta is a true buyer's market. There are 1000's of new condos currently on the market in PV and with interest rates at an all time low, the time to buy will never be better.
Swine Flu Fears Take Toll on Mexico Pork Industry
 Emilio Godoy
Mexico’s Secretary of Agriculture Alberto Cárdenas gave assurances that consumers can safely eat pork, which does not transmit the virus. Nevertheless, China, Ukraine, Russia and other countries have banned imports of pork from Mexico and parts of the United States.
Flu Masks in Fashion as Virus Nears Pandemic Stage
 Joseph Abrams
Retailers and designers are responding to fears of an international swine flu pandemic with some fashionable flu masks.
U.S. Economy: GDP Shrinks in Worst Slump in 50 Years
 Bloomberg
The U.S. economy plunged again in the first quarter, making this the worst recession in at least half a century.
Mexican Tourism Takes a Hit
 RTTNews
Foreigners made a beeline for Mexican airports Wednesday fearing more flight cancellations as the swine flu epidemic threatens to bring the country's tourism industry to a brink of collapse exacerbated by a warning by the World Health Organization of an "imminent" pandemic, reports say.
Swine Flu May Be 'Devastating' to Mexico
 Eric Martin
The swine flu outbreak may be "devastating" to the Mexican economy and stock market by cutting travel and trade with the United States and slowing money transfers from abroad, said George Hoguet, global investment strategist at State Street Global Advisors Inc.
On Buying Dollars Cheaply
 Edgar Amador
Mexicans will be offered a relatively cheap dollar for some time, but the truly big question is; what will happen next?
World Bank Gives Aid to Mexico for Swine Flu
 Associated Press
The World Bank said Sunday that it is providing Mexico with more than $200 million in loans to help it deal with an outbreak of a new strain of swine flu.
Mexico Flu Outbreak Could Add to Economic Pain
 Robert Campbell & Noel Randewich
Significant worsening of an outbreak of a fatal new flu strain in Mexico could damage the retail and tourism sectors in an economy already stinted by the global economic crisis.
Obama Calls for Credit Card Reforms
 David Alexander & John Poirier
President Barack Obama urged U.S. credit card company executives on Thursday to stop unfair rate increases and be more transparent and accountable, tapping into popular outrage over abusive lending.
U.S. Mass Layoffs Rise to Highest on Record
 Pedro Nicolaci da Costa
Large-scale U.S. layoffs rose again in March, according to Labor Department data on Thursday, as the economy struggles with what many expect will be the country's worst post-World War II recession.
Calderón Announces Major Investment in Telecommunications
 Presidencia de la República
President Felipe Calderón announced the investment of five billion dollars over the next five years by Cisco Systems, a leading firm in the area of telecommunications.
Slump Creates Lack of Mobility for Americans
 Sam Roberts
Stranded by the nationwide slump in housing and jobs, fewer Americans are moving, the Census Bureau said Wednesday.
Mexican Microlender Posts 15 Pct Rise in Net Profit
 Noel Randewich
Compartamos, a Mexican bank that makes small loans to family businesses, posted a 14.7 percent increase in first-quarter net profit on Tuesday as lending grew despite the economic slowdown.
Effects of the Economic Crisis on the European Union
 Alberto Mucci
Much has been written on the similarities between the current economic crisis and the infamous one of September 1929. Simplistically, an economic crisis implies the forgetting of others, fostering a state of nature of all against all.
Mexico Senate Passes Banking Limit Bill
 Adriana Lopez Caraveo & José Enrique Arrioja
The Senate approved a bill on Thursday that would allow the central bank to limit interest rates and fees that banks can charge.
Mexico Resort Real Estate Update
 John K. Glaab - The Settlement Company
U.S. President Barak Obama recently signed an Economic Stimulus plan into law. That was followed the next day by a Mortgage Relief Plan. Meanwhile, Mexico seems to be one of the few countries in the world that appears to be weathering the storm without too much damage.
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