Carlos Slim Mimics Zara to Spruce Up Sears in Mexico

September 25, 2014

09/24/14 Bloomberg

people waiting - out of focusCarlos Slim, following the lead of fellow billionaire Amancio Ortega, is freshening up his Sears outlets in Mexico with an of-the-moment sense of style in a bid to boost profits. The retailer is joining the ranks of Ortega’s fashion empire Zara by introducing new brands that quickly convert the latest runway styles of clothes and accessories into cheaper, mass-distributed goods. It’s a change of pace for Sears, which opened its first store in Mexico City in 1947 and whose 82 Mexican locations are now owned by Slim’s Grupo Sanborns SAB.

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Billionaires Increase Bet on Cement as Building Recovers

September 24, 2014

09/23/14 Bloomberg 

construction-workersBillionaires Carlos Slim and Antonio del Valle are doubling down on the Mexican cement industry, wagering a demographic boom and government subsidies will sustain a homebuilding recovery after last year’s collapse. Elementia SAB, the Mexican cement maker backed by Slim and del Valle, agreed Sept. 19 to pay Lafarge SA (LG) $225 million for the 47 percent stake of cement maker Cementos Fortaleza it didn’t already own. Hours later, Mexico City-based Elementia disclosed plans for an initial public offering, which will be used to fund expansion projects, according to a prospectus on the Mexican stock exchange’s website.

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AT&T Signals Interest in Mexico as Carlos Slim Unloads Assets

September 17, 2014

09/16/14 The Wall Street Journal

financeA top AT&T Inc. executive said the company is open to acquisitions in Mexico, where the telephone giant controlled by former partner Carlos Slim is planning to sell assets. América Móvil has said it would sell off parts of its sprawling operations to cut its market share to below 50% from about 70% to avoid a regulatory crackdown, creating a rare opening for an acquirer to get a foothold in the country.

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Mexico’s Televisa Parts Ways With Grupo Salinas

September 16, 2014

09/11/14 The Wall Street Journal

finance-market_dataMEXICO CITY—Shares of Mexican broadcast and media company Grupo Televisa fell Thursday after the company sold its 50% stake in mobile carrier Iusacell at a loss, parting ways with businessman Ricardo Salinas after a three-year partnership in the venture. The sale, which needs regulators’ approval, closes a chapter in which the country’s two broadcast magnates—Mr. Salinas and Televisa Chairman Emilio Azcárraga —teamed up in the mobile venture to compete against billionaire Carlos Slim‘s América Móvil.

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Mexican Tycoon Carlos Slim Is Expected To Bid To Build Mexico City’s Futuristic New Airport

September 15, 2014

09/11/14 Forbes

airportLast week, the Mexican government announced that world-renowned British architect Norman Foster and Mexican architect Fernando Romero, a son-in-law of tycoon Carlos Slim Helú, had won the bidding for the design of a new futuristic, spider-shaped gigantic airport for Mexico City.

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Mexico’s Richest Man Urges Young U.S. Immigrants Into Workforce

August 14, 2014

08/14/14 Bloomberg

 

Carlos Slim

Carlos Slim

Carlos Slim, the Mexican billionaire who ranks as the world’s second-richest person, has introduced a campaign to integrate about half a million young immigrants into the U.S. workforce.

About 1.1 million people in the U.S. are eligible for work authorization under a program known as Deferred Action for Childhood Arrivals, or DACA, for undocumented immigrants who arrived to the country as children. Only about half have been approved, Carlos Slim Foundation Chief Executive Officer Roberto Tapia-Conyer said in a phone interview.

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Mexico’s Carlos Slim Reclaims World’s Richest Man Title From Bill Gates

July 16, 2014

07/15/14 Forbes

 

Carlos Slim

Carlos Slim

Carlos Slim Helú is once again the world’s richest person, thanks in large part to a sharp increase in telecom giant América Móvil’s share price both in U.S. and Mexican markets. Slim bumped Microsoft (NYSE:MSFT) cofounder Bill Gates from his perch as the world’s richest, a post Gates has held since May 2013.

The move happened on Tuesday when the value of Slim’s phone company América Móvil’s (NYSE:AMX), his largest holding, rose 1% or $805.6 million, pushing his net worth to Forbes estimate of $79.6 billion, against Gates’s estimated $79.1 billion net worth.

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