Jul 3, 2015

Mexican billionaire Carlos Slim dumps Trump deal

Vallarta Daily: A television company controlled by Mexican billionaire Carlos Slim has canceled a project with real estate developer and TV personality Donald Trump after his comments insulting Mexicans, Slim’s spokesman said on Monday.

This is the third company to cut ties with Trump, who is seeking the Republican nomination for the November 2016 presidential election. NBC said earlier on Monday that it would no longer air the “Miss USA” and “Miss Universe” pageants due to his comments. Spanish-language broadcaster Univision [UVN.UL] also said on Thursday it would not air the “Miss USA” pageant. Read more. 

Jul 2, 2015

Mexicans blindsided with new food tax

Vallarta Daily: If you fetch a quick quesadilla or hot dog in Mexico, expect to pay more very soon. Beginning July 1, the 16 percent value-added tax (VAT) will be added to popular prepared foods sold in supermarkets and convenience stores. The new federal tax will cover a variety of foods consumed by busy Mexicans who find less and less time to cook at home, including tortas, tamales, sandwiches, flautas, tacos, hot dogs, roasted chickens, and much more.

Food prepared and sold in restaurants has long been subject to the 16 percent VAT, but until now similar foods offered at commercial outlets for take-out consumption have been exempt from the tax. Unprepared foods remain VAT-free-at least for now. Read more.

The peso hits new record low

Vallarta Daily: Mexico’s currency hit its weakest level on record on Wednesday, part of a broader slump in regional currencies depressed by concern that Greece may leave the euro zone and that U.S. interest rates are headed higher.

Mexico is seen as particularly vulnerable to the effects of higher borrowing costs in the Unites States, its main trading partner. The country’s manufacturing sector slipped in June to its lowest in 11 months, a survey showed, even before the potential U.S. rate hike. Read more.

Jun 28, 2015

Child migrant crisis endures on Mexico's south border

AFP: His face lit up every time he mentioned his destination -- the United States -- but like many Central American children, Juan's dream ended abruptly when Mexican officers caught him riding a freight train.

The willowy 16-year-old boy's story is the same as that of thousands of minors from El Salvador, Honduras and Guatemala who are still crossing Mexico's southern border alone despite a crackdown on illegal migration. Read more. 

Jun 25, 2015

Pemex confirms Gulf oil platform accident, impact unclear

Reuters: Mexico's state-run oil company, Pemex, confirmed on Monday there was an accident on an oil platform at one of its major operations in the southern Gulf of Mexico, but added any impact on output remained unclear.

The company said the accident was caused by an oil and gas leak and three workers performing routine inspections had been evacuated. It said there were no reports of any injuries on the platform, which was uninhabited and operated remotely. Read more. 

Mexican forces capture cartel leader's son

AP: The son and alleged second-in-command of the leader of Mexico's most violent drug cartel was captured in the western state of Jalisco, National Security Commissioner Monte Alejandro Rubido said Tuesday.

The suspect, Ruben Oseguera Gonzalez, 25, was born in California and holds dual U.S.-Mexican citizenship, Rubido said. Read more. 

Jun 23, 2015

10 dead in attack on beer distributor in northern Mexico

AP:  Note: As always, there is more to this than meets the eye...

At least 10 people are dead after armed men attacked a beer distribution center on the outskirts of the northern city of Monterrey, Mexican authorities said Friday.

Nuevo Leon State Attorney General Javier Flores told a news conference that authorities are investigating the possibility that the attack involved organized crime. He said drugs and a weapon were found at the scene. Read more.