Top Stories for July 28, 2014

Tyson to sell Mexico, Brazil poultry operations for $575 million

Associated Press

Tyson Foods plans to sell its poultry businesses in Mexico and Brazil for $575 million in cash to help pay debt from its recently announced acquisition of Hillshire Brands.

The Springdale, Arkansas, meat processor said Monday that it still plans to expand its international operations, especially in Asia, but the businesses it will sell didn't have the scale to gain leading positions in their markets. 

Tyson made the announcement the same day it reported fiscal third-quarter earnings that climbed more than 4 percent but missed analyst expectations.

Tyson Foods Inc. said it expects the sale of its Mexico and Brazil operations to JBS will be completed by the end of the year. JBS  is the parent of JBS USA Holdings Inc., which owns Pilgrim's Pride. Tyson's Mexican business will be acquired through Pilgrim's Pride.

Tyson's Mexico and Brazil operations employ more than 10,000 people combined. Tyson said the new owners expect to maintain all operations and labor contracts in both...


From Forbes Many longtime observers of the Mexican economy and a growing cadre of enthusiastic global investors had expected that by now Mexico would be on its way back to rapid growth. Unfortunately, this is a script that Mexico has seen...
Jeremy Martin
For the first time in more than 75 years, the most important date on Mexico’s oil calendar in March was not the national holiday celebrating President Cardenas’ expropriation of foreign oil companies on March 18, but rather the 21st. Friday, March...

Reuters - Mexico on Sunday announced the opening of an international tender to build a high-speed passenger train linking Mexico City and the industrial city of Queretaro. The project was previously estimated to cost about $3.3 billion.

El Paso Times - After three years of delays, the Mexican side of the Tornillo-Guadalupe international bridge will finally be completed in August, Mexican officials said. The new border crossing will not be operational until the end of the year.

AFP - More than 30 police officers have been arrested in Mexico for alleged organised crime ties and possible involvement in the killing of fellow cops, authorities said on Sunday.

Reuters - Japan and Mexico have signed a deal for Japanese companies to earn carbon credits by investing in technology to cut greenhouse gas emissions in Mexico - in Japan's 12th bilateral carbon agreement.

Reuters - The Delaware Supreme Court affirmed last week a lower court ruling that ordered Wal-Mart Stores Inc. to provide a shareholder with documents related to the company’s internal probe of allegations the retailer had paid bribes in Mexico.

Food Safety News - U.S. and Mexico food safety officials have signed a statement of intent last week forming a partnership to promote the safety of fresh and minimally processed agricultural products.

BBC - A federal judge in Mexico has charged six employees of a children's home raided by police last week. More than 450 children and teenagers were rescued from the The Big Family Home.

EFE - The leader of the governing Institutional Revolutionary Party, or PRI, in Nuevo Urecho, Arturo Alejandro Ramos, was gunned down by hitmen suspected of being on the payroll of a drug cartel, state prosecutors said.

Washington Times - The sheriff of Butler County in Ohio said his community has become so overwhelmed with illegals that he sent a letter to Mexico President Enrique Peña Nieto — billing him for the costs associated with jailing them.


EFE - Scientists found the skull and tusks of a gomphothere - an ancestor of the elephant - in the central state of Tlaxcala.  The remains are at least 10,000 years old, according to Mexico's National Institute and History.

Fox40 - Illegal immigration, jobs, trade and the environment will be topics when Calif. Gov. Jerry Brown travels south of the border next week. Ahead of his trip, Mexico’s Foreign Secretary is in Sacramento making the case to build a better relationship with Mexico.

Globe and Mail - The Senate this week passed four sweeping bills that overhaul Pemex and CFE and set up regulatory bodies that will oversee the first direct foreign investment in the country’s energy production and generation since it was nationalized in the 1930s.


EFE - Nine workers were injured when a gasoline storage tank at the refinery operated by Petroleos Mexicanos, or Pemex, in Ciudad Madero, a city in the northeastern state of Tamaulipas, burst into flames, officials said.

Reuters – Former Mexico coach Javier Aguirre has been appointed to manage Japan’s national team replacing Alberto Zaccheroni. The 55-year-old Aguirre coached Mexico at the 2002 and 2010 World Cups and was in charge of La Liga side Espanyol last season.

The Telegraph - Mexican authorities searching an abandoned house were stunned when they discovered a Bengal tiger locked in a cage. They were searching a property in Chilapa de Alvarez, in the state of Guerrero, when they heard a strange noise.

Fox News Latino - Carlos Slim, the world’s richest man, told a group of businesspeople in Paraguay that workers should think about moving to a three-day work week with work days 11 or 12 hours long.

EFE -Mexico's foreign reserves fell by $104 million last week to $190.23 billion. Reserves have grown by $13.71 billion since Jan. 1, the Bank of Mexico said in a statement.

EFE - A transportation industry regulator and former Michoacan legislator, Jose Trinidad Martinez Pasalagua, was arrested for allegedly having ties to drug traffickers, officials said.

Reuters - Mexico's biggest retailer, Wal-Mart de Mexico, on Wednesday said its second-quarter profit doubled, driven by the sale of its restaurant business but also helped by a pickup in revenue across its stores.

Washington Post - Texas Gov. Rick Perry (R) reportedly plans to dispatch some 1,000 Texas National Guardmen to the U.S. border with Mexico to increase security in the Rio Grande Valley.

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