Mexico Says Planned U.S. Tax Breaks for Electric Vehicles Risk Fueling Migration

Source: Wall Street Journal

MEXICO CITY—A U.S. proposal to give tax credits to Americans who buy U.S.-built electric vehicles threatens to hurt Mexico’s industry and spur illegal migration to the U.S., Mexican Economy Minister Tatiana Clouthier said Thursday.

She suggested the proposal could jeopardize bilateral cooperation in controlling the flow of migration.

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Accel, Tiger and Stripe’s COO back Mexico City-based Higo as it raises $23M for its B2B payments platform

Source: TechCrunch

Just six months after raising $3.3 million in seed funding, Mexico City-based Higo announced today it has raised $23 million in a Series A round led by Accel.

Tiger Global Management also participated in the financing, along with existing backers Haystack, Homebrew, Audacious, Susa Ventures and J Ventures. A number of angel investors also put money in the round, including Stripe COO Claire Hughes-Johnson and Cristina Cordova, former head of partnerships at Stripe. 

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Mexico’s Clip hits unicorn status after SoftBank investment

06/20/2021

Source: Reuters

Mexican payments startup Clip on Thursday said its valuation has jumped to nearly $2 billion after a recent investment led by SoftBank Latin America Fund and Viking Global Investors LP, putting it in a small but growing club of Mexican “unicorns.”

The company was the first in Mexico to receive funding from SoftBank’s Latin America fund in 2019. The latest investment round amounted to $250 million, Clip said.

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Mexico moves to require biometric data from cellphone users

04/14/2021

Source: AP News

MEXICO CITY (AP) — Activists and opposition figures cried foul Wednesday after Mexico’s Senate passed legislation to require cellphone companies to gather customers’ identification and biometric data, like fingerprints or eye scans.

President Andrés Manuel López Obrador’s Morena party supported the bill, saying it is needed to fight crimes like extortion and kidnapping that frequently involve the use of cellphones.

The legislation, which was already passed by the Chamber of Deputies, would give cell companies two years to collect the data and make it available to the government.

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‘It’s a free-for-all’: how hi-tech spyware ends up in the hands of Mexico’s cartels

12/07/2020

Source: The Guardian

Corrupt Mexican officials have helped drug cartels in the country obtain state-of-the-art spyware which can be used to hack mobile phones, according to a senior DEA official.

As many as 25 private companies – including the Israeli company NSO Group and the Italian firm Hacking Team – have sold surveillance software to Mexican federal and state police forces, but there is little or no regulation of the sector – and no way to control where the spyware ends up, said the officials.

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

pelosi

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.

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Telefonica teams up with AT&T in Mexico in new bid to take fight to Slim

cell phones 2

11/21/19 – Reuters

By Julia Love

Spanish telecoms giant Telefonica has struck a deal to use some of U.S. rival AT&T’s infrastructure in Mexico, a move analysts said would better position both to compete with the market’s juggernaut, billionaire Carlos Slim’s America Movil.

Under the agreement announced on Thursday, Telefonica will use AT&T’s wireless ‘last-mile’ equipment – the final link of telecom networks that delivers service to consumers through towers, antennas and fiber-optic cables.

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Mexico top court rules e-cigarette sales should be allowed

 

woman holding blue vape
Photo by Thorn Yang on Pexels.com

11/13/19 – AP News

Mexico’s Supreme Court has upheld a challenge to the country’s tobacco law for making it hard to sell e-cigarettes.

Current law allows regulated sales of tobacco products, while at the same time it outlaws “selling, distributing, exhibiting, producing or promoting any object that does not contain tobacco” but whose packaging or design “might identify it with tobacco products.”

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Mexico’s Pemex won’t pay ransom after cyberattack: energy minister

pemex

11/13/19 – Reuters

By Adriana Barrera

Mexican national oil company Pemex will not pay a ransom demanded by suspected cyberattackers who targeted the firm’s computer systems, Energy Minister Rocio Nahle told reporters on Wednesday.

Nahle, who also serves as chair of the Pemex board, added that the attack hit the company’s administrative headquarters in Mexico City and that its “plants and wells” continued to operate.

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Ransomware attack at Mexico’s Pemex halts work, threatens to cripple computers

pemex

11/11/19 – Reuters

By Adriana Barrera

A ransomware attack hit computer servers and halted administrative work on Monday at Mexican state oil firm Pemex, according to employees and internal emails, in hackers’ latest bid to wring ransom from a major company.

Hackers have increasingly targeted companies with malicious programs that can cripple systems overseeing everything from supply chains to payments to manufacturing, removing them only after receiving substantial payments.

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