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Kellogg, Amazon, Chevron, and others, promise more investment in Mexico

After a dinner at the National Palace with investors from the United States, President Andrés Manuel López Obrador of Mexico, said that members of the private initiative pledged to invest in Mexico because they have confidence in the current administration. In his conference on Wednesday, the President detailed the meeting he had with Susan Segal,...
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Toyota opens second plant in Mexico

Japan’s Toyota will open its second plant in Mexico on Thursday, with an investment of about $700 million dollars, the company said, amid a slowdown in the automotive industry in the country. The facility, located in Guanajuato, will employ about 1,300 people and has a capacity to assemble 100,000 units of the Tacoma truck that...
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Mexico’s economy shrinks for first time in 10 years

Mexico’s economy contracted for the first time in a decade last year, data showed on Thursday, as businesses reined in investment due to nagging uncertainty over the economic management of President Andres Manuel Lopez Obrador. Adjusted for seasonal swings, Latin America’s no. 2 economy contracted by 0.1% in 2019 after growth of just over 2%...
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Mexico’s economy fell 1.2% in November, higher than expected

This Friday, the global economy indicator (IGAE ) was released in Mexico which, in November 2019, experienced a 1.2% drop at the annual rate. This fall is higher than expectations, as the market expected a 0.7% drop; Banorte (MX: GFNORTEO ), for example, expected a contraction of 0.2%. The importance of this indicator is that...
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Unemployment in Mexico falls to 3.1% in December

Unemployment in Mexico fell to 3.1% last December, against 3.5% in the previous month while in its annual comparison it fell 0.5%, the state National Statistics Institute (INEGI) reported on Tuesday. In December 2019, the unemployment rate “was 3.1% of the economically active population, a lower proportion than the previous month. In its annual comparison,...
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Mexican union suspends strike threat against Home Depot

A top Mexican trade union said on Monday it has suspended its threat to launch a strike at Home Depot stores across Mexico over labor demands, adding it is in talks with the U.S. home improvement chain to improve pay and benefits for workers. The Revolutionary Confederation of Laborers and Farmworkers, or CROC, is pressing...
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Bidding for Mayan Train project begins next week

The tender for the construction of the Mayan Train will be launched next week, which will pass through five states in the southeast of the country, President Andrés Manuel López Obrador announced. Visiting a manufacturing company in the northern border strip, the President said that the construction of the passenger railway will stop the migration...
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SAT begins crackdown on landlords with new laws

This year things have changed for landlords who rent real estate, now they are required to issue invoices if they want to use the court systems to seek unpaid rents by tenants. As of January 1, 2020, lessors must verify that they have been issuing a Digital Tax Vouchers (CFDIs) for income purposes. If a...
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Walmart opened 134 stores in Mexico in 2019, biggest expansion in six years

Walmart last year launched its biggest expansion in Mexico since 2013, opening 134 new stores in its top foreign market and boosting its presence by nearly 5%, the retailer said Wednesday. Walmart now runs 3,407 stores in Mexico, where it has more locations than in any other country outside the United States, its Mexican unit,...
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Auto sales in Mexico suffer largest decline in a decade

The sale of new cars in Mexico fell 7.6% in 2019, which represents its largest contraction in a decade, according to Inegi. With the results, the automotive industry has tracked three years of decline in the domestic market. After the global crisis of 2009, the year in which auto sales collapsed 26.3% in Mexico, the...
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