Dow Jones - Mexico's peso closed weaker against the U.S. dollar Wednesday as jitters over the debt situation in Europe outweighed positive U.S. economic data. The peso closed in Mexico City at 13.3075 to the U.S. dollar.
Bloomberg - Mexico’s peso bonds dropped for the first time in six days, following Treasuries lower, on speculation Federal Reserve Chairman Ben S. Bernanke will refrain this week from signaling additional stimulus.
By Richard Fausset / Los Angeles Times
In the midst of a violent drug war, President Felipe Calderon fired crooked cops by the hundreds, and hired new ones — rigorously vetted and college educated — by the thousands. Salaries were doubled, new standards imposed and officers were subjected to extensive background checks.
A trustworthy federal police force was to be one of the most important legacies of Calderon's six-year term. And yet, just months before he is to leave office in December, the president found himself apologizing "profoundly" this week for an incident in which federal police allegedly opened fire on an SUV with diplomatic plates, injuring two Americans.
Since the incident, which occurred just two months after a shootout involving crooked federal officers that left three dead at the Mexico City airport, the denunciations of the police have been withering. For many in Mexico, Calderon's new and improved federal police force is just more of the same.
Mexican state-owned oil giant Petroleos Mexicanos, or Pemex, has made a large deep-water light crude discovery in the Gulf of Mexico off the coast of the northeastern state of Tamaulipas, President Felipe Calderon said.
Calderon did not quantify how much the Trion 1 exploration well might produce, but Pemex sources say they expect to certify 350 million barrels of crude from the find and that total reserves at deposits in Mexico's Perdido Fold Belt - where the discovery was made - could amount to as much as 10 billion barrels.
The oil discovery - which was made with the Bicentenario rig and is the first in Mexico's deep-water region - is an "important achievement" that "further strengthens" Pemex, Calderon said in a ceremony at the Los Pinos presidential residence on Wednesday.
"It is moreover estimated that this deposit could belong to one of the most important deep-water zones in the Gulf of Mexico. That entire zone, this oil system (Perdido), could have the potential to produce ... from 4 to 10 billion barrels of crude oil," the president said.
Pemex expects to certify new 3P (proved, probable and possible) reserves of as much as 250-400 million barrels of crude, "probably more," from the find, Calderon said.
"So we get an idea, if these parameters are confirmed, the figure ... would be equivalent to a third of Petroleos Mexicanos's annual petroleum production" of just under 1 billion barrels, the president said.
AP — In western Mexico corn fields, farmers built gates of an improvised "holy land" that they believed would be the only place saved in the coming apocalypse. The gates have become a focal point for a standoff between the government and the church community.
EFE - Mexico's telecommunications industry grew 13.4 percent in the first half of 2012, compared to the same period last year, thanks to a strong performance by long-distance telephony, satellite television and mobile telephony.
CIDRAP News – Tainted mangoes from Mexico implicated in a Salmonella Braenderup outbreak that has sickened several people in Canada are likely linked to about 101 illnesses so far in the United States, according to U.S. investigators.
Fresh Plaza - In July 2012, the value of Mexican agricultural exports grew at an annual rate of 12.5 percent, representing $636.6 million dollars. The most demanded products were mangoes (55.2 percent) and avocados (15.6 percent).
Bloomberg - Mexico’s international reserves rose to 161.2 billion in the week ended Aug. 24. Reserves registered a net increase of $1.4 billion, after falling $262 million the previous week. Mexico’s reserves have climbed 13 percent this year.
Washington Post - Some archaeologists are outraged by what they view as the Mexican government’s failure to safeguard the nation’s Mayan palaces and Aztec pyramids by erecting a facade on the historic Fort of Guadalupe.