Mexico's bank regulator issued 50% less fines last year after the impact of President Lopez Obrador's austerity measures. Former regulators are worried about potential bank failures as the country sinks into its deepest recession in nearly a century
In a rare sign of confidence in restructuring deals, banks agreed to inject $200m more into
@Cinepolis
, after the controlling family ponied up $100m, to help get one of the world's biggest cinema chains back on its feet after the pandemic shut downs
'The Bank of Mexico is one of the country’s institutions that has to adapt to the changes that the country needs.' A top lawmaker says Mexico's ruling party won't back down in their bid to make
@banxico
become the country's dollar buyer of last resort.
Drawn by a stronger U.S. recovery from the Covid-19 economic crash, more Mexicans are heading north. In the Mezquital Valley in central Mexico, the second generation of the region's first migrants are deciding if the time is now. With
@mayaaverbuch
SCOOP: Mexico's banks promised to back up
@banxico
to sink a Senate bid to make it take dollars from banks that the Banco de Mexico fears could be tainted with drug proceeds
Mexico's central bank looks like it may have won the battle with
@RicardoBSalinas
over making
@banxico
become a dollar buyer of last resort. Yet, you don't become Mexico's third richest man by losing wars
From the miserable non-internationally recognized refugee camp on the banks of the Rio Grande, Central Americans who have been waiting for more than a year to plead their asylum cases are hearing that others are making it across. With
@mayaaverbuch
Mexican securities regulator
@cnbvmx
has backed away from an initial proposal to force brokerages to send more bids to the country's upstart, second exchange
@BIVAMX
after top trading houses filed critical comments on the draft
UPDATE: Official documents confirm a whistle-blower sparked
@cofecemx
bond-rigging probe but investigators only found evidence of collusion in the secondary market in chats from 2010-2013
Lopez Obrador's push to replace one program to reduce deforestation with his own has created 'perverse incentives' to cut down jungle in Mexico's Yucatan
@MddeH
reports
In 2021, amid the collapse of US-Mexico drug cooperation, DEA agents thought they were on the verge of a breakthrough to crack down on fentanyl precursor trafficking to Mexico. They weren't.
After four years of big potential fines looming over global banks for allegations of rigging peso bond prices, Mexico's antitrust commission
@cofece
has imposed total penalties of just $1.5 million on seven banks
”Mexican staples companies have become some of the most profitable in the world, but that success came with a very high cost in terms of the health of the Mexican population" with
@andreanavarror
and
@justin_villamil
Mexico's annual banking convention is kicking off next week in Acapulco and the country's fintechs wanna get a message out: big banks aren't playing fair and
@Banxico
and
@cnbvmx
are on the sidelines
Mexico's President
@lopezobrador_
agreed to cap the profit sharing obligations in Mexico that pushed many to use subcontracting schemes, paving the way for business leaders to support his bill to limit outsourcing
El Universal's
@MarioMal
lays out the the behind the scenes on the
@Banxico
law that he says is set to "deflate" in the coming days after AMLO was mislead about its need
Carlos Slim enticed investors into Sanborns at the height the last big Mexican stock boom in 2013. Now, he is willing to buy it back after a prolonged slump. With
@andreanavarror
Grupo Inbursa se muestra interesado en la compra de Citibanamex, pero no irían solos puesto que buscan hacer el procedimiento junto con otros empresarios: corresponsal Michael O'Boyle (
@michaelob_mex
), en
#GanadoresyPerdedores
con
@SuSaenz
.
Bloomberg
@Quicktake
's
@timsteno
had me on 'Take a Break' today to discuss my story with
@mayaaverbuch
about the renewed draw of the U.S. to Mexican migrants
The U.S. and Mexico have been working on a probe into 50 companies allegedly involved in fentanyl precursor trafficking. The joint action comes after relations hit a low late last year over drug trafficking allegations against a Mexican general
Mexico's president
@lopezobrador_
will ask Biden to back expanding his tree-planting program to Central America and use it as a pathway to U.S. migration
Wait, there is a discrepancy between what Mexican airlines tell the market and the government? Regulators can't be missing anything else.
@andreanavarror
reports
In a bid to keep lawmakers from forcing
@banxico
to unwanted buy bulk cash from Mexican banks, policy makers say they will offering financing to banks with "justified difficulties"
Mexico's Fourth Transformation is on a roll! Senators from
@lopezobrador_
's Morena passed bills last night that would strip immunity from U.S. agents in the country, hike business contributions to pension funds, and, also, a little tweak
@banxico
Gracias a
@SuSaenz
por invitarme a platicar de la colocación de bonos de Pemex para pagar proveedoras. No fue ‘no a mas deuda’ la idea de
@lopezobrador_
?
#PEMEX
tiene una deuda financiera de más de 108 mil millones de dólares y debería de tener más efectivo por el precio del barril; causa incertidumbre a los inversionistas, comentó Michael O'Boyle (
@michaelob_mex
), corresponsal de
@business
, en
#GanadoresyPerdedores
con
@SuSaenz
.
Data Scoop:
@chrissiemurray
reports
@lopezobrador_
migration authorities
@INAMI_mx
inflated the number of migrants who were aided in trafficking or smuggling cases during first year in office
Use it before you lose it.
@lopezobrador_
pushed through a dizzying legislative blitz through congress in the past two weeks ahead of elections where his party's majority in the lower house is at stake
US investors are making a rare - and possibly futile - court challenge to Bachoco's buyout offer in the latest delisting from Mexico's shrinking stock market
Got extra pallets of dollars lying about your Mexican bank no one will take? Lost your last correspondent account? No one trusts you anymore? Mexico's Senate may force
@Banxico
to come to the rescue
Reforma’s
@carloselizondom
warns the crazy congressional week that just was in Mexico is a sign of the times to come: a push of populist bills ahead of 2021 elections
A pesar de que México enfrenta muy serios problemas sanitarios y económicos, nuestros legisladores están ocupados en reformar el sistema de pensiones y la ley del Banxico.
Looks like pressure on Mexican lawmakers may be slowing the potential approval of a contentious law to force
@banxico
to buy U.S. cash that policymakers fear could force the central bank to take illicit funds
The Mexican Bolsa's Oct. 9 stock trading outage was caused by a failure at Maria Asuncion Aramburuzabala's
@kionetworks
, a BMV official told Bloomberg News. The company, which
@business
previously reported is looking to sell assets, declined to comment
Mexico's government falsely claimed it helped 601 migrants who were trafficked & smuggled in its first year in office.
The real number was less than 1/3 that, a freedom of information request shows. INM official said it was an “imprecision”
@TRF_Stories
'It may be possible to reach an acceptable compromise with technical modifications, but that is not clear at this point.'
@HRRATINGS
warns passage of the
@Banxico
law could hit the peso
@JonathanHeath54
long a rare independent voice in Mexico and a
@lopezobrador_
@banxico
appointee, says one firm is set to benefit from a push by AMLO's party to make the central bank take potentially illicit U.S. cash
About face! U.S prosecutors are now moving to dismiss drug trafficking charges against the former head of Mexico’s army due to “sensitive” foreign policy issues