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 Business News
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 How Goldman Secretly Bet on the U.S. Housing Crash
 Greg Gordon
Inside the thick Goldman Sachs investment circular were the details of a secret, $2 billion deal channeled through a Caribbean tax haven.
Mexico 2010 Inflation Seen Higher at 4.54 Pct-Poll
 Michael O'Boyle
Analysts' expectations for Mexican inflation next year rose sharply as lawmakers moved to approve a package of tax hikes, a central bank survey showed on Tuesday.
Sorting Garbage - Green and Dignified Work
 Mario Osava
More than 1,500 representatives of waste recyclers from 13 countries, and thousands of other visitors, including the host country Brazil's left-wing President Luiz Inácio Lula da Silva, met last week in São Paulo, demonstrating that they are no longer pariahs in our throw-away society.
Mexico Has ‘Long Way to Go’ on Budget, Garza Says
 Jens Erik Gould & Joshua Goodman
Mexico has a “long way to go” in its effort to strengthen the economy by reining in its budget deficit and boosting investment in the oil industry, said Tony Garza, former U.S. ambassador to the Latin American country.
Wal-Mart Enters Casket Market, Creates Competition for Funeral Homes
 Jon Jordan
Now funeral homes are facing more competition after Wal-Mart announced it is selling caskets online, often at cheaper prices.
Mexico Lawmakers Adopt Tax Plan, Raise VAT, Income Tax
 Miguel Angel Gutierrez
Mexican lawmakers finalized a watered-down version of President Felipe Calderon's fiscal reform package to raise taxes to reduce Mexico's dependence on its waning oil industry on Sunday.
Mexico Slowdown May Have Eased in Third Quarter, Ministry Says
 Andres R. Martinez & Jens Erik Gould
Mexico’s Finance Ministry said the country’s economic slump may have eased in the third quarter as the U.S., its largest trading partner, emerged from a recession.
9 More U.S. Banks Fail; $2.5 Billion Hit for FDIC Fund
 MarketWatch
Nine more U.S. banks, all owned by the same Illinois holding company, were closed Friday by regulators, and the Federal Deposit Insurance Corp. said U.S. Bank of Minneapolis would assume their deposits.
President Calderón Declares that Government will Always Be Open to Dialogue and Understanding
 Presidencia de la República
Friday, as part of a working tour of the state of Querétaro, President Calderón attended the 16th Congress of Mexican Foreign Trade.
Mexican Stocks Drop After U.S. Consumer Data
 Michael O'Boyle
Mexico's peso edged up on Friday after Mexican Senate committees approved a watered-down version of President Felipe Calderon's proposal to raise consumption taxes. But stocks fell after U.S. consumer sentiment slipped this month.
U.S. Home Vacancies Rise to 18.8 Million on Defaults
 Kathleen M. Howley
About 18.8 million homes stood empty in the U.S. during the third quarter as banks seized properties from delinquent borrowers and new home sales fell in September.
Mexico Proposes Limiting Corporate Tax Deferments
 Associated Press
Mexico pressed businesses to pay more taxes on Thursday, with the administration of President Felipe Calderon forwarding a proposal to limit corporate tax deferments to a maximum of five years.
Clunkers: US Taxpayers Paid $24,000 Per Car
 Peter Valdes-Dapena
A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway, according to an analysis released Wednesday by the automotive Web site Edmunds.com.
Mexico's Factories Rehire but Recovery Still Weak
 Robin Emmott
Mexican factories on the U.S. border are rehiring following sweeping layoffs as the country pulls out of its worst recession since the 1930s, but plant managers say a strong rebound is still far off.
Mexican Airport Operator GAP Reports Q3 Income Down 18%
 Comtex
Mexican airport operator Grupo Aeroportuario del Pacifico SAB de CV (GAP) announced on Tuesday that it recorded net income of MXN68.8m for the third quarter of 2009. This represents a decline of 18.0% compared to the same period of last year.
Telmex Dominates Call Completion, Mexico Antitrust Agency Says
 Crayton Harrison
Telefonos de Mexico SAB dominates the market for completing phone calls, Mexico’s antitrust agency said, a declaration that gives the government more legal authority to regulate the country’s biggest phone company.
Mexico's Economy to Grow 3% in 2010: Merrill Lynch
Xinhua
Mexico's economy will grow three percent in 2010, following a steep decline this year, U.S. investment bank Merrill Lynch said in a report published on Monday.
Can the Global Flow of Remittances Survive the Crisis?
 Dilip Ratha
Between 2003 and 2008, on the back of a growing world economy, remittances more than doubled, reaching as much as $330 billion in 2008. Now, with the world's largest economies in steep decline, many fear that the flow of remittances will also take a hit.
Active Living - Assisted Living
 Linda Neil
With millions of baby boomers reaching retirement age every day, the market for a lovely place to live with the security and services required is growing exponentially. Are Active Living developments a niche market that can help the Mexican real estate market come back?
Mexico's Televisa to Bid on Wireless
 Cyntia Barrera Diaz
Mexican broadcaster Televisa, famous for its tear-jerker soap operas, is waiting for the publication of rules governing a planned auction of wireless spectrum that the government hopes will boost competition in Mexico's telecommunications market.
Mexico's Oil Output Falls in 2009
 PVNN
Oil output in Mexico has continued to decline in 2009, coming in at an average of 2.6 million barrels per day (bpd) for the first nine months of the year, or almost 190,000 barrels less than the average for all of 2008, state oil monopoly Petroleos Mexicanos reported.
US Bank Failures Top 100 for Year, More Coming
 Daniel Wagner
It's a big number that only tells part of the story. The number of banks that have failed so far this year topped 100 on Friday — hitting 106 by the end of the day — the most in nearly two decades. But the trouble in the banking system from bad loans and the recession goes even deeper.
Mexican Megaport Still Going Forward
 Sandra Dibble
The planned Punta Colonet megaport south of Ensenada, billed as the most significant infrastructure project of Mexican President Felipe Caldero´n's six-year administration, is being scaled down in the face of shrinking trans-Pacific trade.
Mexico Unemployment Rate Hits 14-yr High in Sept
 Jason Lange
Mexico's unemployment rate rose to its highest in 14 years in September as a crippling recession ravaged the country's export sector, the national statistics agency said on Wednesday.
Mexico Debt-Rating Downgrade ‘Likely’ on Revenue Plan, BofA Says
 Stephen Kirkland
The Mexican Congress’ revenue plan probably won’t satisfy credit-rating agencies and a “one-notch downgrade is likely,” BofA Merrill Lynch Global Research wrote in a report.
Mexico Aug Retail Sales Seen Down 3.75 Pct Yr/Yr
Jean Luis Arce
Mexican retail sales likely fell in August from a year earlier, though at a more moderate pace than the previous month as Mexico's economy showed signs of recovery from a steep recession, a Reuters poll suggested.
Mexico Reaches Out to U.S. Investors
 Business Wire
The state of Sinaloa Mexico Ministry of Tourism and Development will host `Vive Mazatlan` on Thursday, October 29, at Seattle`s Grand Hyatt Hotel to describe how the current recession has created real estate opportunities in Mexico.
Mexico Oil Output Slide Ending: Minister
Robert Campbell
A dramatic slide in Mexico's oil production has come to an end and it can maintain output at 2.5 million barrels per day for the coming years, Energy Minister Georgina Kessel said on Tuesday.
Mexican Economy Beginning to Recover: President Calderón
 Suzanne Stephens Waller
President Felipe Calderón declared that the Mexican economy is beginning to show clear signs of recovery, as borne out by the 60,000 new jobs registered during the first fortnight of October.
Mexico Lawmakers to Vote on Telecom Tax
Noel Randewich & Tomas Sarmiento
Mexican legislators looking to shore up depleted public finances were expected to approve a tax on telecommunications services, a blow to billionaire Carlos Slim, who dominates the industry.
Mexico Jobless Rate Likely Unchanged in Sept
 Jean Luis Arc
Mexican unemployment likely held steady at a 13-year high in September, a Reuters poll suggests, as many employers refrain from hiring despite the central bank's confidence an economic recovery is underway.
US Real Estate Collapse Entering New Phase: Banks Refusing to Repossess Abandoned Homes, or Even File Foreclosures
 Ken McCall
Not only are there no bids in some markets, the accumulation of property taxes means that some properties have negative valuations, like a derivative trade that’s gone bad.
Mexico Calls Citi's Nationalization Illegal, May Cost Firm 15% Of Its Profits
 Vincent Fernando
In Mexico the pressure is on, where it's illegal for a foreign government to own a domestic bank. Citi's stake in Mexico's Banamex has fallen afoul of this law.
Grupo Aeroportuario del Pacifico Announces Changes to Passenger Charges
Benzinga
Grupo Aeroportuario del Pacifico, S.A.B. de C.V. announced information regarding passenger charges. Passenger charges are fees charged to passengers by airports worldwide for the use of airport facilities.
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