April 2011

BT Group says AA is joining effort to rescue Mexicana

Sentido Comun - BT Group, the company that seeks to rescue Mexicana Airlines, said American Airlines has joined its project to purchase what was the largest airline in the country to enable it to resume operations.


GM moves Mexico chief to run Brazil operations

Bloomberg - General Motors Co. said Monday that it has promoted the head of its Mexican operations, Grace Lieblein, to run its unit in Brazil. Lieblein, 50, will be succeeded by Ernesto Hernandez, 53, a vice president at GM de Mexico.


Bolsa closes lower as U.S. outlook changes

Dow Jones - Mexico's stocks fell sharply Monday, tracking U.S. equities lower after Standard & Poor's changed to negative its outlook on U.S. government debt ratings. The market's IPC index fell 656 points to 36,332, a 1.8 percent decline.


Telmex raises workers' raises by 4.4 percent

Dow Jones--Mexico's biggest fixed-line phone company Telefonos de Mexico said Monday it reached agreement with the Mexican telephone workers' union to raise wages by 4.4 percent in negotiations carried amid an "especially critical" time for telecom.


Peso rally has Alfa planning second dollar bond sale

Bloomberg - Alfa, Mexico’s second-largest industrial conglomerate, is lining up its second dollar bond sale of the year as the record rally in the peso drives down overseas financing costs for corporate borrowers.


Fire prompts evacuation from Mexico cruise ship

Latin American Herald Tribune - A mechanical failure in a generator on a ship of Mexico’s Ocean Star Cruises on Saturday forced almost 650 passengers and crew to evacuate to Huatulco in southern Mexico, a company spokesman said.


Wikileaks cables describe H-1B fraud attempts

Cableworld - Recently released WikiLeaks cables are shedding some light on attempts to fradulently obtain H-1B visas in places that don't get much attention for it - Mexico, Libya and Iceland.


Crack in sewage canal floods 200 homes

CNN - At least 200 homes in the colony of San Isidro and La Providencia, in the state of Mexico, remained flooded Sunday because a crack in an area sewage canal caused water to overflow into the city. The crack was caused by heavy rains.