Mexico’s Walmex Reports Higher 1st-qtr Profit

April 22, 2015

Reuters, 4/21/2015

Photo by Flikr user elmadaMexico’s biggest retailer, Wal-Mart de Mexico, on Tuesday reported a 9 percent increase in its first-quarter profit as sales across its stores picked up.

The company reported a profit of 5.174 billion pesos ($339 million), compared with a profit of 4.75 billion pesos in the year-earlier period.

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Mexico Bans Poultry, Egg Imports From Bird Flu-Hit Iowa

April 22, 2015

Fox News, 4/22/2015

Mexico, the biggest buyer of U.S. chicken, has halted imports of live birds and eggs from the U.S. state of Iowa due to an outbreak of deadly bird flu there, the Mexican government said on Tuesday.

Mexico and other major countries last month imposed new export restrictions on poultry products from various U.S. states, but a new outbreak has hit top U.S. egg-producing state Iowa.

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Videgaray Says Mexico to Hedge 2016 Oil Exports, Limit New Debt

April 20, 2015

4/18/2015 Bloomberg Business

luis videgarayMexico will hedge its 2016 oil exports to protect against lower prices even with crude near a six-year low, and the nation has little room to increase its debt to avoid spending cuts, Finance Minister Luis Videgaray said.

“There are certainly lower prices that can happen and could represent risk, so yes we will hedge,” Videgaray said in an interview Saturday in Washington. “Certainly it will not be a hedge at the price we were able to get for this year’s hedge, but we’ll take what the market gives us.”

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[VIDEO] Toyota to Invest $1B on New Plants in Mexico, China

April 16, 2015

04/16/15 Bloomberg Business 

iStock_000008876270MediumToyota has ended its self-imposed freeze on new factories. It’s now planning to invest over $1B to build new plants in China and Mexico. Bloomberg Intelligence’s Steve Man discusses the move on “First Up.”

Watch Here…

UPDATE 4-WTO Rules against U.S. Dolphin-Safe Canned Tuna Labels

April 15, 2015

Reuters, 4/15/2015

WTO logoThe World Trade Organization found on Tuesday that U.S. rules on dolphin-safe labels for canned tuna run counter to international trade laws, siding with Mexico in a long-running dispute and opening the door to retaliation against U.S. exports.

The ruling, which the United States said it would appeal, upholds Mexico’s complaint that revamped U.S. labeling rules are still discriminatory because they disqualify Mexican tuna from bearing dolphin-safe labels, unlike other countries’ tuna.

“We recommend that the dispute settlement body request the United States bring its measure, which we have found to be inconsistent with (the WTO rules) … into conformity with its obligations,” the WTO panel said.

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Toyota to End Expansion Freeze, Invest $1.3 Billion in Two New Mexico, China Plants: Sources

April 3, 2015

Reuters, 4/2/2015

piggy bank with coinsJapan’s Toyota Motor Corp (7203.T) will spend about 150 billion yen ($1.3 billion) to build two new car plants in Mexico and China, two people familiar with plans said, ending a three-year freeze imposed after unchecked growth lumbered the world’s biggest auto maker with too many idle production lines.

Reuters reported in January that plans were in place for new plants in the two countries, awaiting a green light from top management that has now been given. President Akio Toyoda had been cautious about expanding after Toyota was hit by a capacity glut following the global financial crisis.

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Mexican Growers Offer 15 Pct in Baja Farm Strike

March 31, 2015

The New York Times, 3/30/2015

farm workersMEXICO CITY — Export-oriented commercial farms in Mexico’s Baja California state say they have offered farm workers a 15-percent wage increase to end a two-week-old strike.

But leaders of the farmworkers called the offer unacceptable, and said they want assured benefits, higher wages and an end to abuses.

The strike by an estimated 50,000 farmworkers has featured intermittent blockages of the main north-south highway in Baja, confrontations with police and the arrest of dozens of strike supporters.

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