Mexico Holds Oil Bids Like There’s No Tomorrow Before Election

01/25/2018  Bloomberg
energy - gas pumpMexico is trying to lure as much oil investment as possible before the president who overhauled the country’s energy industry leaves.

 By the end of the summer, the country that until recently had a state monopoly on crude will have offered more than 100 permits to oil majors like Exxon Mobil Corp. in three auctions this year. The last bidding round, announced on Wednesday, will cover an area bigger than Delaware.
The pace of sales is unprecedented as the country prepares to say goodbye to the presidency of President Enrique Pena Nieto, who oversaw a complete makeover of the country’s energy laws to lure foreign investment into everything from oil fields to pipelines to refineries.
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Mexico’s Peso Problems Are a Warning Sign for Global Investors

12/8/16 Bloomberg Markets

pesomexicanoThe world has never been so invested in Mexico, and so Mexico has never posed a bigger potential threat to the world. With a little more than six weeks before Donald Trump takes over with an agenda that could batter Latin America’s second-largest economy, Mexico is already showing signs of strain. Inflation is bouncing back, and traders bet it will only get worse; the peso has plummeted to record lows, and top analysts predict more pain; the government has lowered its growth forecast for four straight years, and Mexico is on the verge of a credit-rating cut just as Agustin Carstens gears up to leave the central bank after seven years at the helm.

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Wal-Mart de Mexico to Invest $1.3 Billion in Logistics

12/8/16 The Wall Street Journal

walmartMEXICO CITY— Wal-Mart de Mexico SAB, Mexico’s biggest retailer and private-sector employer, said Wednesday it plans to invest $1.3 billion in the country to expand and improve its logistics operations.

Much of the investment, which is in addition to the company’s annual capital expenditures on store openings and remodelings, will be made over the next three years, Chief Executive Guilherme Loureiro said in an event at the presidential residence. The plan involves the construction of new distribution centers and the upgrading of existing centers.

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Ford Is Still Moving Small Car Production to Mexico Despite Trump’s Tariff Threats

11/15/16 Fortune

download (5).jpg“There will be no job impact whatsoever with this move,” CEO Mark Fields says. Ford Motor is moving ahead with plans to shift production of small cars to Mexico from Michigan, while “two very important products” will be built in its U.S. factories, Chief Executive Officer Mark Fields told Reuters on Tuesday.

President-elect Donald Trump has criticized Ford for the decision to shift production of Focus small cars toMexico in 2018, and said he would consider levying tariffs on Mexican-made Fords. Trump has also said he wants to scrap the North American Free Trade agreement, which also includes Canada, and to build a wall on the U.S.-Mexico border to stop undocumented immigrants.

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Slim in talks with Spanish firms for bid on $3.5 billion Mexico airport terminal – sources

10/25/16 Business Insider

2564224814_f800dcc9d8_oMEXICO CITY/MADRID (Reuters) – Tycoon Carlos Slim’s construction arm is in talks with his majority-owned construction firm FCC and rival Spanish builder Acciona to jointly bid on a coveted $3.5 billion (2.87 billion pounds) Mexico City airport terminal project, five people familiar with the matter said.

Carso Infraestructura y Construccion, part of Slim’s Grupo Carso, is hashing out a deal to form the consortium, which would include three other Mexican companies – all its partners from a winning bid for one of the airport’s runways, four of the people said in recent days, speaking on condition of anonymity.

The bid for the terminal, hot on the heels of Carso’s runway bid, shows how Slim, Mexico’s wealthiest man, is aggressively moving to boost his construction business as his telecoms arm America Movil is squeezed by increased competition and regulation.

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GM invests millions in Mexico while Trump bashes Ford

10/17/2016 The Detroit News

After more than a year of watching Republican presidential candidate Donald Trump bash Ford Motor Co. for moving jobs to Mexico, General Motors Co. has pushed ahead with its own expansion. It just hasn’t said as much as Ford.

GM is advancing on an $800 million investment for its global small-car lineup that includes a factory retooling in San Luis Potosi state. That plant and another facility in Mexico will also build the all-new Chevy Equinox sport-utility vehicle next year, people familiar with the matter said.

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Standard & Poor’s Lowers Mexico’s Outlook to Negative

08/23/2016 The Wall Street Journal

mexico cityMEXICO CITY—Standard & Poor’s on Tuesday lowered the outlook on Mexico’s sovereign debt rating to negative from stable, becoming the second ratings firm to do so this year on the belief that government finances could deteriorate in the coming years.

S&P affirmed Mexico’s triple-B-plus rating—two notches above the minimum investment grade—but said there was a 1-in-3 chance of a downgrade in the next 24 months. A deterioration of Mexico’s debt or interest burden could raise the vulnerability of public finances to adverse shocks, the firm said in a release.

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