Top Stories for September 23, 2014

Power at 15 percent at Los Cabos, as death toll from hurricane rises to five


Mexican authorities are struggling to get power back on in the resort area of Los Cabos a week after Hurricane Odile barreled through.

The Federal Commission of Electricity says electricity has been restored to 15 percent of users in the popular vacation communities on the southern tip of the Baja California Peninsula.

The Tourism Department said in a statement Monday that nearly 27,000 people have been airlifted out on more than 200 special flights. 

It added that the heavily damaged Los Cabos International Airport is expected to be operating normally Oct. 8.

On Sunday authorities announced that a drowned man had been found in a local mangrove thicket, raising to five the number of deaths attributed to the storm. He was identified as a British tourist whose wife also died.



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's jobless rate fell in August, pointing to stronger domestic consumption as Latin America's No. 2 economy picks up some speed after a weak start to the year.

Reuters - Mexico's Elementia, a construction conglomerate partly owned by billionaire Carlos Slim, will launch an initial public offering, according to a filing with the Mexican stock exchange.

Financial Times - Mexico’s oil hedging program - a highly secretive deal that is the largest single trade in crude markets - appears to be unfolding in public for the first time, according to traders.

Barrons - Lala controls 70 percent of Mexico's liquid-milk market and boasts Mexico's largest refrigerated distribution network. Roughly half of Lala's sales are milk.

EFE - Two moderate earthquakes rocked Mexico's Baja California Monday, but no injuries or damage have been reported. The epicenters were in unpopulated areas near San Felipe.

WSJ - Mining giant Grupo Mexico will set aside at least $150 million to pay for damages after an acid spill from its biggest mine led to the industry's worst environmental disaster.

Hollywood Reporter - Mexico’s film academy has picked Cantinflas, a biopic about iconic comedian Mario Moreno, as its foreign-language Oscar submission. - Tropical Storm Odile is just off the coast of southern Mexico and is expected to strengthen into a hurricane by Friday. A tropical storm watch has been issued.


Bloomberg - Islamic State extremists have discussed infiltrating the U.S. through its southern border with Mexico, a U.S. official said, adding that the U.S. can prevent that activity.

Forbes - The announcement of the new Mexico City airport immediately started speculation into who would be the builders. Carlos Slim’s business empire is seen as an obvious favorite.

Designboom - Fernando Romero speaks about the process behind the winning design and the collaboration between FR-EE and Foster & Partners for the new Mexico City airport.

Reuters - Mexico's telecoms competition watchdog said it will probe the country's pay TV market, which could result in stiffer regulations for Grupo Televisa as it moves to buy up cable companies.

EFE - Petroleos Mexicanos said it is investing $282 million to expand an automated system to detect the theft of crude and fuel from its 35,000-kilometer (21,750-mile) pipeline network.

Reuters - Mexico's Grupo Salinas said it will buy out partner Grupo Televisa's 50 percent stake in the country's No. 3 wireless operator Iusacell for $717 million and seek a strategic partner.

CBS5 - A six-month investigation uncovered a criminal organization that would carjack high-end vehicles in Mexico, switch the Vehicle Identification Numbers and import them into the U.S.

Yonhap - Hyundai Motor Co.'s sales arm in Mexico said Wednesday that the carmaker has met its initial target thanks to the popularity of its vehicles and a unique marketing strategy.

Reuters - Mexican industrial production bounced back in July, led by manufacturing, which grew at its fastest pace in six months as the economy picks up some speed after a weak start to the year.

News24 - Dubbed the "water monster" by the Aztecs, the axolotl salamander is battling extinction in the remnants of Mexico City's ancient lake, alarming scientists.

EFE - Authorities in central Mexico apprehended three people as they were using acid to dissolve the body of a man they murdered, the Morelos state Attorney General's Office said.

The Guardian - The former Brazil and Barcelona midfielder Ronaldinho, twice the World Player of the Year, has signed a two-year deal with Queretaro, the Mexican first division club said.

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