Bloomberg - ABB Ltd., the world’s biggest electricity-networks builder, agreed to pay about $58.3 million to resolve claims by U.S. prosecutors and regulators that its units made corrupt payments to win business in Mexico and Iraq.
guardian.co.uk - Heavy rains in Mexico led to a second landslide yesterday that killed 16 people as officials admitted that exaggerated reports about an earlier slide diverted resources from other storm-hit areas.
ESPN - Mexico's soccer federation says threats by 13 players, led by New York Red Bulls midfielder Rafa Marquez, to boycott national team matches unless director of national teams Nestor De La Torre steps down or is fired will not succeed.
By Tomas Sarmiento and Cyntia Barrera Diaz
Mexico's government will hand over a license to broadcaster Televisa and partner Nextel Mexico by next week that will allow them to deploy a wireless phone network in the country, an official said on Wednesday.
Nextel Mexico and Televisa, the world's largest Spanish-language content producer, won a chunk of spectrum in a government auction in July, but their claim has been held up in the courts, with competitors challenging their winning bid.
On Wednesday, a senior transport ministry official told Reuters the courts had dismissed the challenges.
Gerardo Sanchez, who heads the ministry's legal division, said the license would be handed over "early next week at the latest."
The two companies offered around $14 million for the nationwide license, the lowest bid allowed by the auction's rules, causing a stir in the industry. Rivals America Movil and Telefonica paid $400 million for another slice of the spectrum.
Bloomberg - Japan Bank for International Cooperation and the country’s three biggest banks signed a loan for a $1.2 billion acquisition by Mitsui & Co. and Tokyo Gas Co. of power-plant and natural-gas pipeline assets in Mexico.
AFP – Mexico's latest rash of storms and floods highlights the need for a global accord on cutting greenhouse gases blamed for climate change, President Felipe Calderon said Wednesday.
The Monitor - Federal authorities seized $3.1 million from luggage on a tour bus destined for Mexico — the largest cash seizure for U.S. Customs and Border Protection officers this fiscal year. Fourteen people aboard the tour bus were arrested.
Dow Jones - Mexico's peso shied away from the key 12.50 level against the dollar Wednesday as equity markets turned negative in slow trading and bond investors cashed in on recent gains in the secondary market for local government debt. The peso closed at 12.5475.
Dow Jones - Mexico's biggest mortgage lender, government housing fund Infonavit, said Wednesday it issued 317,126 mortgages from Jan. 1 to Sept. 26 as it kept on track to meet its minimum goal of 475,000 for 2010. The number is a 16 percent jump over last year's.
Bloomberg - Mexico’s Hipotecaria Su Casita, the mortgage lender that had its credit rating cut three times this year by Standard & Poor’s, might reach a restructuring deal with creditors by the end of the year or the beginning of 2011.