Walmart Is Being Sued for Allegedly Bribing the Mexican Government

09/22/16 Fortune

WalmartWalmart must face a class-action lawsuit accusing the world’s largest retailer of defrauding shareholders by concealing suspected bribery to help it expand faster in Mexico, a U.S. judge said.

In a decision on Tuesday, U.S. District Judge Susan Hickey in Fayetteville, Arkansas rejected Walmart’s contention that a Michigan pension fund had no standing to lead the case because it had not suffered losses on the retailer’s stock.

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Mexico’s America Movil eyes acquisition of Brazilian rival Oi: Valor

09/21/16 Reuters

America Movil SAB (AMXL.MX) is interested in acquiring some or all of the operations run by struggling Brazilian rival Oi SA (OIBR3.SA), the chief executive of the Mexican telecom giant said in a newspaper interview published on Wednesday.

Brazilian paper Valor Economico reported that Daniel Hajj, CEO of Mexican billionaire Carlos Slim’s telecom empire, said he was eyeing an acquisition of Oi operations whether or not the company is split up in the midst of an in-court restructuring.

“We are open to looking at anything,” Hajj said in the Valor report. “I am very interested in participating in the (market)consolidation in Brazil, but I don’t know how it will happen.”

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G.M. Job Shift From Mexico Tests a Trump Premise

09/20/16 The New York Times

5469513101_b0b7e8478b_o.pngIn the realm of international trade, it is a truism seemingly as consistent as gravity: Jobs and investment flow from north to south, while manufactured goods travel the other way around. Factories in the United States and Canada shutter as work shifts to Mexico and Central America, where human hands do it more cheaply.

So the established order of trade was by all appearances turned upside down on Tuesday, as General Motors agreed to cease manufacturing an automobile engine at a factory in Mexico while moving jobs to a plant in Canada.

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Mexico Peso Ends Worst Streak in 7 Months on Intervention Bets

09/21/16 Bloomberg

peso by Guanatos GwynThe Mexican peso ended its longest losing streak since February as traders bet the central bank will step in to stem losses fueled by concern over the outcome of the U.S. presidential race.

The peso strengthened 0.4 percent to 19.7257 per dollar as of 5:23 a.m. in Mexico City, its first advance on a closing basis in seven days. The move is in line with currencies of other commodity producers as oil prices climbed back toward $45 per barrel in New York and the Bank of Japan’s monetary stimulus boosted demand for riskier assets.

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Here’s what else we import from Mexico

09/16/16 CNN Money

Donald_Trump)Trump revived his promise to levy a 35% tariff on goods imported from Mexico on Thursday. He unleashed a tirade against Ford Motor Company (F) on Fox, saying he would make the automaker pay if it shifts jobs south of the border.

There’s no question America imports a lot of cars and car parts from Mexico. The U.S. brought in $24 billion worth of motor vehicles from Mexico last year, making it the top product and accounting for 8% of total imports from Mexico, according to the United Nations Commodity Trade Statistics Database. The broader category of vehicles, parts and accessories totaled $75 billion, or 25% of all products from Mexico.

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The effect of Trump’s trade policies? Trade wars with China, Mexico that could cost U.S. 4 million jobs, report says.

09/19/16 The Washington Post 

5440390625_909854f45e_oDonald Trump’s trade policies could shock the U.S. economy back into a recession and cost 4 million private-sector jobs if the Republican presidential nominee follows through on his campaign pledges in the White House, according to a new report.

Trump has said he would consider pulling the United States out of multinational trade deals, or renegotiating them, and impose high import tariffs on goods and services from China and Mexico.

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Ford CEO: Donald Trump is wrong about Mexico

09/15/16 CNN Money

Mark_Fields_2014_001.jpgFord CEO Mark Fields says GOP presidential nominee Donald Trump is completely wrong when he says that Ford plans to move its U.S. operations to Mexico, or even shift future investment outside the country.

“It’s really unfortunate when politics get in the way of the facts,” he said Thursday in an exclusive interview with CNN’s Poppy Harlow.

Asked if Ford would cut any U.S. jobs as part of its plans to build a new plant in Mexico, he responded; “Absolutely not. Zero. Not one job will be lost. Most of our investment is here in the US. And that’s the way it will continue to be.”