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from Photographers' Blog:

Keeping it snappy

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Mexico City, Mexico

By Henry Romero

When I saw him walking in his baby blue suit, I immediately recognized the dancer in him – the Mambo move in his hips, his Danzon step, his sense of swing as he walked amongst the hundreds of people rushing past.

Pachuco Nereidas and I had agreed to meet after I encountered him in the Los Angeles dance hall of Mexico City. I was intrigued by the sub-culture of men like him, who are known as “Pachucos”. Their elegant attire, their passion for dancing, and their gentlemanly behavior reminded me of myself when I was a teenager back in Cali, Colombia.

Dancing is part of everyday life, especially in Cali. We would get dressed in tailor-made flares and shirts, and go to a dance hall every Saturday night with a group of friends.

We behaved like real gentlemen towards the ladies and they loved it. Those were the times when you would send girls messages on “esquelas”, little colored cards sometimes in the shape of hearts, to invite them to go out or come to a dance.

from Breakingviews:

Citi’s Mexico fraud besmirches industry further

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By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Not for the first time, Citigroup has stepped into a mess – and by extension besmirched the financial industry. Not that Citi committed a crime, or colluded to set foreign exchange rates or Libor prices, say. Rather the bank is the victim of fraud in Mexico that could cost it much as $400 million. The problem is that the lender has been cheated out of the cash in one of the most basic businesses in banking. That should worry Citi’s rivals, too.

from The Great Debate:

Why North America is stronger than its parts

Twenty years ago NAFTA, the most ambitious free trade agreement negotiation of its time, gave birth to a profound transformation of the economies and the regional value chains of Mexico, the United States and Canada. Trade dramatically changed the relationship between the three countries, though asymmetries of power and economic vitality persist.

This week, at the North American Leaders Summit in Toluca, Mexico, Presidents Obama and Peña Nieto, together with Canadian Prime Minister Stephen Harper, continued a dialogue about trade, economic growth and the energy revolution in North America. A priority for all parties should be the continued economic integration of the three countries -- the region’s greatest hope for job creation and prosperity.

from Breakingviews:

Cross-border arbitrage is expansive Bimbo’s yeast

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By Robert Cyran
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Cross-border arbitrage is the yeast for Grupo Bimbo’s aggressive expansion. In its latest deal north of the border, the acquisitive Mexican breadmaker is shelling out $1.8 billion to buy Canada Bread. Paying 20 times earnings to move into a mature market may seem questionable. But Bimbo’s earnings fetch an even higher multiple at home – and the deal should lower its weighted average cost of capital.

from The Great Debate:

Mexico’s reversal of fortune

In Latin America, this looks to be the year of Brazil -- thanks to the impending World Cup and presidential elections. But with another lackluster year looming in emerging markets, fans of transformation, growth and investment potential should instead look to Mexico.

Brazil’s president, Dilma Rousseff, is expected to win a second term this year, and its soccer team stands a good shot at victory. But growth has slowed considerably. In the world’s seventh largest economy, reforms are stagnating and the country faces a possible ratings downgrade.

from Global Investing:

Watanabes shop for Brazilian real, Mexican peso

Are Mr and Mrs Watanabe preparing to return to emerging markets in a big way?

Mom and pop Japanese investors, collectively been dubbed the Watanabes, last month snapped up a large volume of uridashi bonds (bonds in foreign currencies marketed to small-time Japanese investors),  and sales of Brazilian real uridashi rose last month to the highest since July 2010, Barclays analysts say, citing official data.

Just to remind ourselves, the Watanabes have made a name for themselves as canny players of the interest rate arbitrage between the yen and various high-yield currencies. The real was a red-hot favourite and their frantic uridashi purchases in 2007 and 2009-2011 was partly behind Brazil's decision to slap curbs on incoming capital. Their ardour has cooled in the past two years but the trade is far from dead.

from The Great Debate:

Danger and delay on dirty bombs

When highly radioactive material that can be used in a “dirty bomb” is moved to or from a hospital in New York City, it is done in the dead of night on cordoned streets with high security.

In Mexico two weeks ago, a truck moving a large canister containing radioactive material was hijacked at a gas station -- where it had been parked with no security. The cobalt-60 that was stolen from the vehicle and then extracted from its protective lead shield is so potent that it is considered a significant national security threat under U.S. guidelines.

from Photographers' Blog:

NBA goes up in smoke in Mexico

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Mexico City, Mexico

By Edgard Garrido

I was to photograph an extraordinary basketball game between the Minnesota Timberwolves and the San Antonio Spurs as part of the NBA Global Games schedule for the 2013-14 season.

The day before, the players met with children from the indigenous Triquis tribe and played a game barefoot in the tradition of the young Triquis’ team. It was a fantastic moment and I have no doubt that the journalists and everyone present, enjoyed it as much as the young Triqui players. It was a delightful opening to a grand game to be played the next day.

from Photographers' Blog:

Home is where the Beetle is

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Monterrey, Mexico

By Daniel Becerril

The need to find a place and make it your own is sometimes the only way to cope in a life full of surprises, hardship, sorrow and joy. It’s unbelievable how humans are capable of accommodating themselves in any space and under any circumstances.

I first heard of Oscar Almaguer, or Don Oscar, on a local TV program. It was the story of an 83-year-old man who had been living in a battered VW Beetle for the last 10 years. Don Oscar’s story was the perfect one to show life’s full range of social complexities and I thought it would definitively make an interesting picture story.

from The Great Debate:

Argentine leader’s health recovering, as her dynasty ebbs

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As Argentina’s Cristina Fernandez de Kirchner convalesces in the presidential residence after surgery, a poor prognosis for her political and economic agenda awaits her outside. Yet the populist leader is unlikely to respond with major policy initiatives as she enters a prolonged lame duck period.

Fernandez faces big losses in Sunday’s mid-term congressional elections, which will likely determine how much legislative clout she can muster. Hope for her third presidential mandate is all but extinguished. Under her administration, Latin America’s third largest economy is slipping further behind the region’s top two -- Brazil and Mexico -- and looking ever more like the laggard Venezuela.

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