May 2012
Peso closes at weakest point in six months
Dow Jones - Mexico's peso fell sharply against the U.S. dollar Wednesday, closing at its weakest level this year as fears about the euro zone switched from Greece to Spain. The peso closed at 14.1465 to the dollar.
Stocks end slightly lower on Spanish bank concerns
Dow Jones - Mexican stocks closed slightly lower Wednesday as new concerns bubbled up over the euro-zone debt crisis, with Spanish bank deposits falling and its government bond yields moving higher. The IPC index fell 0.1 percent to 38,071 points.
Scotiabank to close branches in Mexico, elsewhere
Sentido Comun - Scotiabank plans to close between 15 and 17 branches in Mexico, a few in Chile and as many in Costa Rica, as part of plans to achieve positive operating leverage this year, said Brian Porter, director of international banking.
Alpek to build 85 MW power plant in Veracruz
Sentido Comun - Alpek, the largest petrochemical company in Mexico, plans to build a $130 million, 85 megawatt power plant Cosoleacaque in the state of Veracruz to generate electricity for a fiber and container factory.
Tellez says Euro Zone failed to act to solve crisis
Cronica.com.mx - The great mistake of the eurozone countries is that they have taken 3 years to resolve their financial problems and have not acted as an economic unit, said Luis Tellez, president of the Mexican Stock Exchange (BMV).
Protection stepped up after attack on Sabritas
Associated Press — Mexican police are providing stepped-up security for PepsiCo subsidiary Sabritas targeted by firebomb attacks over the weekend. About one hundred state and federal police are guarding distribution centers.
Slim sticks to offer in raid on KPN
Reuters - Mexican tycoon Carlos Slim stuck to his bid of 8 euros per share for a bigger stake in Dutch telecom firm KPN on Tuesday as his mobile phone giant America Movil hinted it was moving closer to a tie-up with its European target.
Presidential frontrunner suffers setback in poll
Submitted by mexbiznews on Wed, 05/30/2012 - 3:43am
By Ioan Grillo / Reuters
Enrique Pena Nieto, the favorite to win Mexico's presidential election, has suffered his biggest drop in support during the campaign after demonstrators said his party was corrupt and oppressive, an opinion poll showed on Tuesday.
The poll by Consulta Mitofsky showed backing for Pena Nieto, candidate of the opposition Institutional Revolutionary Party (PRI), at 35.6 percent, still a big lead over Andres Manuel Lopez Obrador, the leftist contender and runner-up in the 2006 election.
But the PRI candidate's support was down 2.3 percentage points from a previous Mitofsky survey published on May 22.
That was the sharpest drop since the campaign for the July 1 elections began at the end of March. Pena Nieto's support in Mitofsky polls has been above 40 percent at times during the race.
uk.reuters.com/article/2012/05/29/uk-mexico-election-idUKBRE84S1EZ20120529
Four gunned down in Cuernavaca; 2 children found alive
EFE - Four people were shot to death Tuesday by unidentified gunmen in Cuernavaca. At the site of the incident, police found two children, ages 3 and 4 belonging to a murdered couple, alive and they were turned over to Morelos authorities.
latino.foxnews.com/latino/news/2012/05/29/4-gunned-down-in-central-mexico/
Mass. pension opposes Wal-Mart directors re-election
Boston Globe - The board of the Massachusetts state pension fund, which has $60 million invested in Walmart stock, voted against the re-election of seven corporate directors at the giant retailer.
