Top Stories for September 30, 2014

Court rules Nokia Mexico must pay damages to buyers of faulty phones

By David Graham

Reuters

 A Mexican court has ruled Nokia Mexico must pay damages to customers who bought defective mobile phones prior to the handset maker's takeover by Microsoft Corp, a government agency said on Sunday.

A Mexico City court found in favor of federal consumer protection agency Profeco in a suit first filed in 2010 against Nokia Mexico before Finnish parent Nokia sold its mobile business to Microsoft - a sale that was completed this year.

The agency said Nokia Mexico customers that had been affected by faulty Nokia equipment would be able to seek damages even if they had not yet presented complaints.

According to Profeco, the court ruled Nokia Mexico must either replace defective devices and/or reimburse their cost, plus pay compensation equivalent to at least 20 percent of the damages resulting from malfunctioning.

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Columnists

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...

AP - A Mexican official in Baja California Sur has been suspended amid reports linking him to possible looting in the aftermath of Hurricane Odile.

http://abcnews.go.com/International/wireStory/mexico-official-suspended-hurricane-odile-25851091

Economic Times - Finland’s Nokia said the liabilities of its former unit Nokia Mexico were now held by Microsoft, responding to a ruling Nokia Mexico would have to pay damages for faulty equipment. 

http://economictimes.indiatimes.com/news/...

BBC -Braulio Zaragoza, the leader of the conservative opposition National Action Party (PAN) in southern Guerrero state. was killed by gunmen at a hotel restaurant in the resort of Acapulco.

http://www.bbc.com/news/world-latin-america-29404297

AP - Authorities said that 22 local police have been arrested following the deaths of six people in the Mexican state of Guerrero.

http://www.aol.com/article/2014/09/28/22-police-held-following-southern-mexico-violence/20968886/

AP - Hurricane Rachel is swirling in the Pacific far off Mexico's Baja California peninsula and poses no threat to land amid forecasts it will weaken in coming hours.

http://abcnews.go.com/International/wireStory/rachel-hurricane-staying-offshore-25812246

AP - Chivas had two players sent off during the second half in a 0-0 draw at home against Puebla on Sunday and slumped to 15th spot in Mexico's first division.

http://www.newsobserver.com/2014/09/28/4191681/chivas-held-to-0-0-draw-by-puebla.html

CBS - Andrew Tahmooressi, an ex-Marine from Weston who was jailed in Mexico for illegally entering the country with firearms will have his fourth hearing before a judge today, Monday.

http://miami.cbslocal.com/2014/09/29/fourth-hearing-monday-for-weston-marine-jailed-in-mexico/

AP - Raul Alvarez Garin, a leader in the 1968 student uprising that culminated in the massacre of protesters in Mexico City, has died at age 73 in the capital after a year-long battle with cancer.

http://abcnews.go.com/International/wireStory/leader-mexicos-1968-student-protests-dies-25807239...

WSJ - International oil executives say they are looking forward to possibilities opened up by Mexico's energy overhaul, but are proceeding with caution until details become clearer.

http://online.wsj.com/articles/oil-executives-cautiously-await-details-of-mexicos-energy-overhaul-...

Bloomberg - Homeowners in Mexico are taking advantage of record low mortgage rates that have spurred refinancings, which banks are offering to spur growth.

http://www.businessweek.com/news/2014-09-26/mexicos-housing-refinance-boom-seen-lifting-spending

The Guardian - Tabasco has emerged as the world’s most dynamic new centre of international surrogacy, fueled by the tightening of restrictions in other countries such as India and Thailand.

http://www.theguardian.com/world/2014/sep/25/tales-of-missing-money-stolen-eggs-surrogacy-mexico

Forbes - Mining tycoon German Larrea Mota Velasco is Mexico’s most enigmatic and reclusive billionaire. He despises the spotlight. Yet his days of seclusion may be coming to an end.

http://www.forbes.com/sites/doliaestevez/2014/09/25/a-rare-glimpse-of-mining-...

Reuters - The Mexican government plans to issue a similar amount of debt in the fourth quarter as it did during the third quarter, the finance ministry said on Friday.

http://www.reuters.com/article/2014/09/26/markets-mexico-debt-idUSL2N0RQ2YZ20140926

Reuters - Mexican factory exports slipped in August in a sign that an economic recovery might lose some steam, but stronger imports pointed to improving domestic demand.

http://www.reuters.com/article/2014/09/26/mexico-economy-idUSL2N0RR0S620140926

Gastonia Gazette - Parkdale International, which employs 300 workers in Gaston County, N.C.,  confirmed its purchase of Summit Yarns’ Mexican manufacturing plant Thursday.

http://www.gastongazette.com/spotlight/parkdale-purchases-manufacturing-plant-in-mexico-1.378117

Yucatan Times - Experts estimate Mexico’s debt could rise 11 percent under President Enrique Peña Nieto.  The debt is manageable, but experts warn the trend is cause for concern.

http://www.theyucatantimes.com/2014/09/mexicos-rising-debt-a-cause-for-concern/

CSM - As President Enrique Peña Nieto touted to bankers this week that criminal violence had fallen sharply, armed commandos in the city of Guadalajara carried out a brazen daylight abduction.

http://www.mexbiznews.com/node/add/story

Reuters - Mexican federal congressman Gabriel Gomez, the most high-profile politician murdered in recent years, was likely executed by a drug cartel, a state prosecutor said.

http://www.reuters.com/article/2014/09/24/us-mexico-deaths-idUSKCN0HJ1QC20140924

AP - The retired Chicago Bulls center Bill Cartwright was named the coach of Mexico’s national basketball team. Cartwright, 57, played 16 seasons in the N.B.A.

http://www.nytimes.com/2014/09/25/sports/basketball/bill-cartwright-to-coach-mexico.html

BBC - A Mexican court has ordered the release of Martin Beltran Coronel, who had been charged with organised crime. The court said due process had been violated.

http://www.bbc.com/news/world-latin-america-29361452

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