Dave's Feed
Jul 2, 2014

Mexican Congress eyes quick telecoms laws approval

MEXICO CITY, July 2 (Reuters) – Mexico’s Senate on Friday
aims to pass long-delayed legislation setting out the fine print
of a major reform of the phone and TV markets that seeks to curb
the power of multibillionaire Carlos Slim and broadcaster
Televisa.

On Tuesday, the Senate presented a revised draft of the
so-called secondary laws needed to implement President Enrique
Pena Nieto’s 2013 overhaul of the telecoms and broadcasting
sectors, where immense powers are concentrated in few hands.

Jun 25, 2014

Crime-ridden state poses acid test for Mexican oil reform

TAMPICO, Mexico, June 25 (Reuters) – During Mexico’s first
oil boom, Tampico was such a magnet for foreign capital that it
became the biggest oil-exporting port in the Americas and home
to grandiose architecture that inspired comparisons to Venice
and New Orleans.

A century on, Tampico is the country’s kidnap capital,
racked by fear, murder and extortion that threaten to choke off
its bid to make a comeback as Mexico, the world’s No. 10 crude
oil producer, opens up its oil and gas industry.

Jun 19, 2014

Political strife pushes back approval for Mexican energy laws

MEXICO CITY, June 19 (Reuters) – Political wrangling in
Mexico means Congress is unlikely to approve before July
legislation to complete an energy overhaul at the center of
President Enrique Pena Nieto’s economic agenda, lawmakers said
on Thursday.

The ruling Institutional Revolutionary Party, or PRI, had
hoped to pass in June the so-called secondary laws for a reform
that will offer oil production and exploration rights to private
companies, ending a state monopoly that dates back to 1938.

Jun 8, 2014

Mexican president hints may be open to change in marijuana laws

MEXICO CITY (Reuters) – Mexico and the United States cannot pursue diverging policies on marijuana legalization, Mexican President Enrique Pena Nieto was quoted as saying on Sunday, hinting he may be open to following the lead taken by some U.S. states in changing drug laws.

Political pressure has grown in Mexico to take a more liberal stance on marijuana since Washington and Colorado decided to legalize possession and sale of the drug for recreational use in 2012. Other U.S. states plan votes soon.

May 19, 2014

Mexican opposition party re-elects leader in boost for reforms

MEXICO CITY (Reuters) – The leader of Mexico’s biggest opposition party comfortably won re-election on Sunday, boosting President Enrique Pena Nieto’s efforts to enact measures to open up the oil industry and increase competition in the telecoms sector.

The center-right National Action Party (PAN), has been badly divided by an internal power struggle centering on how far the party should cooperate with Pena Nieto’s Institutional Revolutionary Party (PRI), which lacks a majority in Congress.

Apr 28, 2014

Mexican reform drive bogged down by opposition strife

MEXICO CITY (Reuters) – In his first year in power, Enrique Pena Nieto raced to push through Congress the most ambitious reforms Mexico has seen in a generation, raising hopes of a new dawn for Latin America’s second largest economy.

But this year the Mexican president’s sprint has slowed to a walk with Congress mired in opposition disputes that are holding up the legislation that is supposed to end years of anemic growth.

Apr 24, 2014

Mexico’s Slim, Telekom Austria reach ownership deal

VIENNA/MEXICO CITY (Reuters) – Mexico’s Carlos Slim struck an 11th-hour deal on Wednesday with the Austrian government that could give him control of Telekom Austria and allow the multi-billionaire to consolidate his foothold in Europe as he expands outside the Americas.

Slim’s telecoms group, America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz), agreed to back a 1 billion euro capital increase for Telekom Austria (TELA.VI: Quote, Profile, Research, Stock Buzz) and to pay 7.15 euros a share for the company’s outstanding stock, in a co-ownership deal combining its stake with that of Austrian state holding company OIAG.

Apr 23, 2014

Mexico’s Slim reaches deal for control of Telekom Austria

VIENNA/MEXICO CITY (Reuters) – Mexico’s Carlos Slim struck an 11th-hour deal on Wednesday with the Austrian government that could give him control of Telekom Austria and allow the multi-billionaire to consolidate his foothold in Europe as he expands outside the Americas.

Slim’s telecoms group, America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz), agreed to back a 1 billion euro capital increase for Telekom Austria (TELA.VI: Quote, Profile, Research, Stock Buzz) and to pay 7.15 euros a share for the company’s outstanding stock, in a co-ownership deal combining its stake with Austrian state holding company OIAG’s holdings.

Apr 21, 2014

Independent Scotland’s last gasp forgotten in Panama jungle

CALEDONIA, Panama (Reuters) – A few years before giving up its independence, Scotland took a bold gamble to secure a brighter future, founding a colony on the isthmus of Panama to corner trade between the Pacific and Atlantic oceans.

The 1698 venture ended in tragedy, helping to push Scotland into political union with England and form the United Kingdom. But had it succeeded, Scots might have no need to vote in the referendum on independence this coming September.

Apr 18, 2014

Powerful earthquake rattles Mexico, shakes buildings

MEXICO CITY (Reuters) – A powerful earthquake struck Mexico on Friday, shaking buildings in the capital and sending people running out into the street, although there were no early reports of major damage.

The magnitude 7.2 quake was centered in the southwestern state of Guerrero, close to the Pacific beach resort of Acapulco, the U.S. Geological Survey (USGS) said.