Mexico union threatens Home Depot strike, inspired by USMCA trade deal

Date: January 15, 2020
Source: Reuters
By: Daina Beth Solomon

MEXICO CITY (Reuters) – Spurred on by labor protections in the new North American trade deal, a top Mexican trade union has accused Home Depot of blocking union activity and threatened strikes next week if the U.S. home improvement chain does not improve pay and benefits for workers.

The Revolutionary Confederation of Laborers and Farmworkers, or CROC, is pressing for a 20% raise, benefits such as 20 annual vacation days and more contributions toward transportation, school supplies, food and savings funds.

Read more

For more information and a deep analysis of the USMCA, don’t forget to visit our website.

At Least Three Chinese Automakers Eyeing Expansion in Mexico

January 13, 2020

Source: The New York Times

MEXICO CITY — At least three Chinese automakers are preparing to produce vehicles in Mexico or expand existing operations, the Mexican ambassador to China said on Monday, in what would be a boost to one of the Latin American country’s top export industries.

Jose Luis Bernal, Mexico’s ambassador to China, said that over the past year and a half his office has seen more interest from Chinese firms looking to make cars in Mexico.

Read more

USD/MXN – US Dollar Breakdown vs Mexican Peso, Watch 2019 Low

January 7, 2020

Source: DailyFX
By: Paul Robinson

USD/MXN HIGHLIGHTS:

• USD/MXN big-picture triangle broke to end 2019
• A drop through 18.7433 need to give conviction

To end 2019, USD/MXN broke out of the three-year-long triangle it had been building as a result of declining volatility. The break so far has held minimal velocity which could change quickly if last year’s low at 18.7433 is broken. The lack of momentum could also mean we are in for a ‘fake-break’.

Read more

U.S. Oil Company Confirms Big Find in Mexico

January 8, 2020

Source: The Wall Street Journal
By: Robbie Whelan

License All rights reserved by heikoos

Mexico City— One of Mexico’s largest oil discoveries of the last two decades, the Zama field in the shallow waters of the southern Gulf of Mexico, likely contains 670 million barrels of recoverable oil, according to new estimates released by a consortium of drilling companies that owns rights to it.

Read more

Check out the latest Mexico Institute publications on Mexico’s energy reform debate, as well as opportunities for U.S.-Mexico cooperation on solar, wind and bioenergy projects.

Pelosi pushes to keep tech’s legal shield out of trade agreement with Mexico and Canada

12/05/19 – CNBC

By Lauren Feiner

House Speaker Nancy Pelosi, D-Calif., is pushing to keep a key legal shield for tech companies out of a new trade agreement with Mexico and Canada. The Wall Street Journal first reported the news on Thursday.

The effort could throw a wrench into progress Congress seemed to be making on the pact and would be a blow to tech companies who already fear losing the legal protection within the U.S. Just last week, Pelosi said House Democrats were “within range” of reaching a pact they can support for the United States-Mexico-Canada Agreement, or USMCA, which would replace NAFTA.

Read more…

Oil companies swap stakes in Mexico as government holds off on auctions

12/04/19 – Reuters

By Marianna Parraga, Adriana Barrera

With Mexico’s government insisting that energy companies increase oil and gas output before it auctions off more of the country’s vast reserves or offers more partnerships with state-run Pemex, firms ranging from foreign majors to local players are scrambling to buy and sell blocks they already own.

The negotiations are creating a dynamic secondary market for oil acreage, which could be the only investment opportunity left for firms until leftist President Andres Manuel Lopez Obrador unblocks his predecessor’s flagship energy reform that has seen no new licensing rounds since 2018.

Read more…

Postmates food delivery service leaving Mexico to focus on U.S. market

Photo by MOHI SYED on Pexels.com

12/03/19 – Reuters

By Diego Ore

U.S.-based online food delivery service Postmates Inc will close its fledgling operations in Mexico in order focus more on the U.S. market, the company said on Tuesday.

Postmates has offered meal deliveries in Mexico City since late 2017, but failed to notch the same level of growth achieved in the United States. According to the company’s website, the company’s service is available in more than 4,200 cities, covering 80% of U.S. households.

Read more…