Alexandra's Feed
Oct 7, 2014

Mexico tax probe targets evasion; deal near with global firm

MEXICO CITY (Reuters) – Mexican tax authorities are looking to ramp up a tax avoidance probe of major multinationals to scour for evidence of evasion, officials said on Tuesday, adding that they were close to a deal with one firm.

In January, Mexico said it had launched a probe of 270 companies, with a focus on seven, for allegedly exploiting legal tax loopholes that have leaked income out of Mexico for years.

Sep 25, 2014

Exclusive: P&G, Hasbro in crosshairs of Mexico’s taxman – sources

MEXICO CITY (Reuters) – The world’s largest household product maker Procter & Gamble and No. 2 toymaker Hasbro are at the heart of a Mexican probe into tax avoidance that could cost the firms hundreds of millions of dollars in back-taxes between them, sources told Reuters.

In January, Mexico said it had launched a probe of 270 companies for allegedly exploiting tax loopholes that have leaked income out of Mexico for years.

Sep 24, 2014

Mexico annual inflation eases but still above ceiling

MEXICO CITY, Sept 24 (Reuters) – Mexican annual inflation
remained above the central bank’s tolerance ceiling in early
September but cooled slightly versus late August, suggesting
that policymakers will hold borrowing costs steady at a record
low for some time.

A separate report showed Mexico’s economy grew at its
fastest pace in three months in July, in a sign that Latin
America’s No. 2 economy is picking up after a weak start to the
year.

Sep 19, 2014

Most Mexico central bankers see inflation spike fading -minutes

MEXICO CITY, Sept 19 (Reuters) – Mexico’s central bankers
think that a recent spike in inflation will fade by early next
year even as the economy picks up speed, minutes showed on
Friday, suggesting that interest rates will remain steady into
next year.

Central Bank board members voted 5-0 at their Sept. 5
meeting to hold their benchmark rate at a record
low of 3 percent.

Sep 5, 2014

Mexico holds key interest rate, sees inflation easing over longer term

MEXICO CITY, Sept 5 (Reuters) – Mexico’s central bank kept
interest rates on hold on Friday, highlighting stronger economic
growth and forecasting that inflation pressures would ease in
the first half of 2015, boding for steady borrowing costs ahead.

The Banco de Mexico maintained its benchmark interest rate
at a record low of 3 percent, as expected by
analysts polled by Reuters, after policymakers surprised markets
by delivering a 50 basis point cut in June.

Sep 4, 2014

Mexico unveils futuristic design for new $9 bln airport

MEXICO CITY, Sept 3 (Reuters) – Mexico’s government on
Wednesday unveiled the winning design for a new, futuristic,
spider-shaped airport for the capital that will ease delays and
boost capacity at a cost of 120 billion pesos ($9.17 billion) in
public and private funding.

British architect Norman Foster and Fernando Romero, a
son-in-law of Mexican tycoon Carlos Slim, showcased their
winning, airy design in the form of an X with arching spans at
the presidential palace.

Sep 3, 2014

Mexico unveils design for futuristic new $9 bln airport for capital

MEXICO CITY, Sept 3 (Reuters) – Mexico’s government on
Wednesday unveiled the winning design for a new, futuristic,
spider-shaped airport for the capital that will ease delays and
boost capacity at a cost of 120 billion pesos ($9.17 bln) in
public and private funding.

British architect Norman Foster and Fernando Romero, a
son-in-law of Mexican tycoon Carlos Slim, showcased their
winning, airy design in the form of an X with arching spans at
the presidential palace.

Sep 3, 2014

Architect Norman Foster and Carlos Slim’s son-in-law win Mexico City airport design bid: source

MEXICO CITY (Reuters) – Renowned British architect Norman Foster and a son-in-law of Mexican tycoon Carlos Slim have won a design contract for a new $9.15 billion airport for Mexico City, a source familiar with the decision said on Tuesday.

The source, who asked to remain anonymous, told Reuters that the joint design by Foster and Fernando Romero had won the contract. Mexico’s airport operator ASA, which is overseeing the tender, declined to comment.

Aug 21, 2014

Mexico’s economy picks up steam in second quarter

MEXICO CITY, Aug 21 (Reuters) – Mexican economic growth was
stronger than expected in the second quarter as industrial
activity and domestic demand perked up, signaling a recovery in
Latin America’s No. 2 economy is gathering pace.

Gross domestic product grew 1.04 percent in the second
quarter compared to the first three months of the year
, as services and industry expanded at their fastest
rate since the third quarter of 2013, data showed on Thursday.

Jul 3, 2014

BMW’s $1 billion plant surfs Mexican investment wave

MEXICO CITY, July 3 (Reuters) – Luxury car maker BMW
revealed a $1 billion Mexican plant investment on
Thursday, becoming the latest in a line of major automakers to
take advantage of the country’s growing industrial base and
tariff-free access to the U.S. market.

BMW outlined plans to build a factory near San Luis Potosi,
central Mexico, in a move that will reduce the German company’s
dependence on higher-cost plants at home.