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 Business News
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Mexico Treads Lightly on Foreign Bank IPOs
 Noel Randewich & Emily Chasan
Mexico's bank regulator would like to see foreign banks list their local subsidiaries on the stock market but has no plans to twist the arms of major players like BBVA, Santander or Citigroup.
Mexico: 382,000 Formal Jobs Created This Year
 Associated Press
Mexican President Felipe Calderon says 382,000 jobs have been created in Mexico's formal economy so far this year. He says job growth shows Mexico is on the path of economic recovery.
Mexico Regulator Sees No Problem with Slim Plan
 Noel Randewich & Emily Chasan
A final decision on a merger plan by Mexican tycoon Carlos Slim that would tie up his regional telecommunications assets is tied up in bureaucratic red tape and therefore delayed, Mexico's market regulator said on Monday.
Mexico Eyes Up to 14 Oil Deals by Year-End
 Robert Campbell
Foreign energy companies could be at work in Mexico's oil sector for the first time in more than seven decades as soon as the end of 2010, a senior executive of Mexico's state oil monopoly Pemex said on Monday.
US States Consider Starting Their Own Banks
 Matthew Cardinale
At least eight U.S. states are considering proposals to start state-run banks in the wake of an economic crisis where many private banks ceased or greatly decreased their lending, literally shrinking the money pool available in state economies.
BBVA Sees LatAm Earnings Driving Growth From 2011
 Judy MacInnes & Jesus Aguado
Spain's BBVA (BBVA.MC) expects earnings growth in Latin America to outpace its home market next year, and it is seeking acquisitions to boost market share there, the bank's head of operations for the region said on Monday.
Mexican Homebuilder Geo Net Up 52.5 Percent
 Noel Randewich
Mexican homebuilder Geo said last week its first-quarter net profit surged 52.5 percent over the year-ago period helped by a strong surge in revenues.
GAP Reports 36.9% Rise in First Quarter Income
 Comtex
Mexican airport operator Grupo Aeroportuario del Pacifico SAB de CV (GAP) announced on Wednesday that its net income for the first quarter of 2010 rose by 36.9%, or MXN149.7m, compared to the same period of last year.
Mexico's Lower House Approves Antitrust Bill
 Miguel Angel Gutierrez
Mexico's lower house of Congress approved a bill late this week to increase fines against companies breaking antitrust laws in an attempt to loosen the grip a handful of companies hold on key industries.
Retire to Mexico - The Price is Right
 Les Christie
The years-long trend of Americans buying homes and expatriating to Mexico has collapsed, but that's good news for Americans who have always dreamed of retiring to Mexico but could never afford it. The bust has made homebuying a bargain.
Charges Madoff Trustee Concealing Financial Data
 Sherwood Ross
Court-appointed Trustee Irving Picard is "keeping all the relevant information" pertaining to the operations of convicted Ponzi scheme fraudster Bernie Madoff secret, says a legal authority who lost money invested with Madoff.
Mexico Reports Economy Expanded 4 Percent in 1Q
 Associated Press
Mexico says its economy expanded an estimated 4 percent in the first quarter, the third consecutive period of growth following a punishing recession.
Governor Candidates Ask: Is Wall Street in the California Governor’s Race?
 Peace and Freedom Party
While Republican front-runner Meg Whitman is sharing what she will do for California if elected governor, millions of Californians want to know about her past connections with Goldman Sachs and Wall Street.
Survey Reports Latest US Honey Bee Losses
 Kim Kaplan
Losses of managed honey bee colonies nationwide totaled 33.8 percent from all causes from October 2009 to April 2010, according to a survey conducted by the Apiary Inspectors of America (AIA) and the Agricultural Research Service (ARS).
Mexico Remittances Decline has Hit Bottom - Cenbank
 Luis Rojas
Mexican Central Bank Governor Agustin Carstens said on Wednesday that a decline in the country's remittances, or money sent home by Mexicans living abroad, has touched bottom.
Mexican Economy Grows 3.42% in Feb from Year Ago
 Patrick Rucker
Mexico's economy grew 3.42 percent in February from a year earlier, slightly less than expected, the national statistics agency said on Tuesday.
Carstens May Delay Mexico Rate Increase as Peso Tops Currencies
 Businessweek
Mexico’s central bank may say this week that inflation is under control, betting the peso’s world- beating rally will curb price increases and allow policy makers to keep the overnight rate unchanged for six months.
US Welfare “Reform” Act of 1996 Keeping Poor from Good Jobs
 PVNN
The Federal Welfare Reform Act of 1996 “has all but abolished welfare recipients’ ability to obtain any kind of education that extends past six months worth of training,” an authority on urban education contends. And by diminishing their ability to get a college degree, it has worked to ensure the continued poverty of the poor.
The Good and Bad of Life On an Offshore Oil Rig
 Cain Burdeau
Life on an oil rig in the Gulf of Mexico has come a long way since the black gold was discovered underwater here 60 years ago.
Mexican Bankers Warn Against Tighter Regulation
Noel Randewich
Mexico's financial industry is well regulated and additional rules could slow the growth of credit by the country's banks, executives warned on Thursday.
Ruiz Mateos Forecasts Mexico GDP Growth of 4.5%
 Yvonne Reyes Campos
The Economy Secretariat forecasts a Gross Domestic Product (GDP) increase of 4.5 percent this year, while the Finance Secretariat forecasts a 6 percent growth.
 Euro On Way To a Crash?
 The Real News Network
Jayati Ghosh: The future of the eurozone itself is now at stake.
Bad Economy Equals Drop in US Motorcycle Deaths
 Joan Lowy
After a decade of steady increases, motorcyclist deaths nose-dived last year, possibly due to bikers watching their budgets in a sour economy.
Nothing is Forever, Even European Union
 Richard Giedroyc
Portugal, Ireland, Greece and Spain, all members of the European Union currency union – are rocking the union’s boat at the moment. A nightmare scenario may be building, a scenario in which Greece first and possibly the other three countries could at some point find themselves as former members of the EU, while being forced to resurrect their own individual currencies.
Mexico Resort Real Estate Update from The Settlement Company
 John K. Glaab
In the Settlement Company's 2010 1st Quarter Newsletter, John K. Glaab talks about how the global economy is affecting the international real estate and second home markets. He also shares information about upcoming real estate conferences, new developments, and paying taxes in Mexico.
Airlines Lose $1.7 Billion, Ash Blame Game Begins
 Juergen Baetz & Matt Moore
Airlines lost at least $1.7 billion in revenue during the volcanic ash crisis, an industry group said Wednesday as the debate heated up over whether European governments were justified in shutting down their airspace for so long.
Carlos Pascual: Violence May Hit Mexico Investment
 Associated Press
The U.S. ambassador to Mexico says drug violence is affecting the willingness of foreign companies to invest in the country.
Shrimp Caught Up in Environmental Restrictions
 Emilio Godoy
By the time the shrimp season opens again in the fall, Mexico's fleet hopes to have regained certification to export shrimp harvested on the open sea to the United States, which it lost Tuesday. To do so, shrimpers will have to prove they meet sea turtle protection standards.
First Foreclosure Auction in Punta Mita To Take Place Saturday, April 24
 Lynne Bairstow
The first foreclosure auction of a residence within the renowned resort community of Punta Mita will take place this Saturday, April 24 at 11am, onsite at the Ayia Punta Mita condominium community.
Realty Executives Rocky Point Expands Real Estate Presence in Puerto Penasco
 Tina Elliott
Realty Executives Mexico announces that Broker/Owners John and Kathy Witt of Realty Executives Rocky Point have acquired Leagan Realty Mexico, a four agent real estate brokerage firm, founded by Lisa and Gary Eagan.
'Third World' Concepts No Longer Relevant - Zoellick
 Lesley Wroughton
The old concept of "Third World" no longer applies and rich countries cannot impose their will on developing nations that are now major sources of global growth, World Bank chief Robert Zoellick said this week.
SEC Charges Goldman Sachs With Fraud
 Greg Gordon
The Securities and Exchange Commission charged Goldman Sachs & Co. and one of its executives with fraud today in a risky offshore deal backed by subprime mortgages that cost investors more than a $1 billion.
Mexico Calderon Eyes Higher Fines, Jail for Monopolies
 Cyntia Barrera Diaz
Mexican President Felipe Calderon wants to impose fines of up to 10 percent of annual sales on companies found to be acting as monopolies under a plan he submitted on Monday to overhaul competition laws.
Mexico’s Compartamos Seeks to Buy Micro-Finance Lender Abroad
 Thomas Black
Banco Compartamos SA, the Mexican bank that lends to the working poor, is seeking to purchase a micro-finance bank outside of Mexico to expand abroad, Chief Executive Officer Fernando Alvarez Toca said.
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