China’s leading electric-vehicle manufacturer, BYD Co., is exploring the possibility of establishing an EV plant in Jalisco, Mexico. Company executives met with state officials and local suppliers to assess the region's infrastructure and workforce. The potential investment is estimated at around $600 million. This move is part of a broader trend of increased investment in Mexico by both Chinese and Western automakers, including Tesla, which is building a mega-factory in Nuevo Leon. Jalisco is actively working to attract more EV industry investments by offering incentives and improving logistics infrastructure.

Canada's unemployment rate is nearing concerning levels, according to a senior economist at Indeed, as employment growth fails to keep pace with the increasing number of new labour force participants.

Markets anticipate the Bank of Canada will implement interest rate cuts at its remaining decisions this year due to a faster-than-expected loosening of the U.S. labor market.

Markets anticipate the Bank of Canada will implement rate cuts in its remaining decisions this year due to a faster-than-expected loosening of the U.S. labor market.

Ahead of a potential interest rate cut from the Bank of Canada next week, mortgage brokers advise that decisions about variable versus fixed mortgage products should be based on individual financial standing rather than predictions about rate movements.

Former Mexican President Vicente Fox admitted to intervening in the 2006 election, aiming for a victory for Mexico. This aligns with past statements by Roberto Madrazo, who in 2018 recounted Felipe Calderón's request to present electoral records, which he refused. Mexico's current president, Andrés Manuel López Obrador, has repeatedly claimed that the 2006 election was fraudulent, a claim supported by his party's allegations of irregularities. Fox also mentioned an encounter with Morena candidate Claudia Sheinbaum Pardo at the airport.

A study by AI27, a security and logistics firm, found that cargo theft in Mexico correlates with a rise in grocery prices, with a 7.6% increase following periods of sustained theft. The most affected states in February were Estado de Mexico, Jalisco, Puebla, and Nuevo Leon. Business leaders and a Banco de Mexico report highlight security issues as significant risks to economic growth, and truck drivers have protested against the rising insecurity and extortion.

French industrial gas manufacturer Air Liquide is seeking answers from the Mexican government after the temporary occupation of its hydrogen plant in Hidalgo state. The plant, now operated by Pemex, is part of a broader trend of President Andres Manuel Lopez Obrador's administration asserting state control over private assets. This follows similar actions against Iberdrola and Vulcan Materials Co., reflecting ongoing tensions between the Mexican government and private companies. Air Liquide is reviewing its options and remains committed to legal compliance in all jurisdictions.

Air Liquide is seeking answers from the Mexican government following the seizure of their hydrogen plant in Hidalgo state. The plant, which Air Liquide has operated since 2017, was taken over by Pemex Transformación Industrial on December 29. This action is part of a series of conflicts initiated by President Andres Manuel Lopez Obrador against private companies to strengthen state control. Similar incidents have occurred with Iberdrola, Grupo Mexico, and Vulcan Materials Co., with the latter facing land seizure and environmental damage accusations. Air Liquide is reviewing its options and is committed to legal compliance in all jurisdictions.

Elon Musk's reservations about the global economy have delayed the construction of Tesla's new factory in Nuevo León, Mexico, which was initially expected to produce next-generation, more affordable vehicles. Despite state incentives and environmental permits, the project faces additional hurdles, including the need for more local and federal permits and infrastructure development. The delay has tempered local expectations, though some remain hopeful about the economic benefits. The Mexican government must also address internal divisions to fully realize the potential of nearshoring investments.

Elon Musk's decision to delay the construction of Tesla's new car plant in Nuevo Leon, Mexico, has led to tempered expectations among locals. The delay is attributed to Musk's concerns about the global economy, permitting delays, and infrastructure issues. In response, the state government has approved $153 million in incentives for basic infrastructure to address these concerns.

Elon Musk's announcement of a Tesla factory in Nuevo León, Mexico, has faced delays due to global economic concerns and local infrastructure challenges. The Mexican government has approved significant incentives to support the project, but further permits and infrastructure development are needed. The project, initially seen as a model of nearshoring, now faces uncertainty, with potential operational dates pushed to 2025 or later. Local residents and officials remain hopeful about the economic benefits, despite internal divisions and logistical hurdles.

Tesla Inc. will receive $153 million in incentives from the Mexican state of Nuevo León to build its next gigafactory. The incentives include infrastructure development and payroll tax reductions. Despite these incentives, the factory faces delays due to high interest rates and pending permits. Tesla plans to invest around $10 billion in the factory over several phases, with an initial investment of $4.5 billion. Elon Musk has indicated that production of Tesla's next-generation vehicle will start in Texas before Mexico.

Carlos Slim is increasing his investments in companies involved in Mexico's largest oil exploration project, including Talos Energy Inc. and Harbour Energy Plc. His family investment firm, Control Empresarial de Capitales, has accumulated significant stakes in these companies. Slim's Grupo Carso SAB also acquired a minority position in a unit of Talos, allowing entry into the Zama field, a major energy project in Mexico. This expansion comes amid President Andres Manuel Lopez Obrador's efforts to maintain government control over key energy assets. Slim's wealth has surged due to a boom in the Mexican peso, making him one of the world's richest individuals.

Carlos Slim is increasing his investments in companies involved in Mexico's largest oil exploration project, with his family investment firm, Control Empresarial de Capitales, acquiring significant stakes in Talos Energy Inc. and Harbour Energy Plc. Slim's Grupo Carso SAB also secured a minority position in a unit of Talos, entering the Zama field, a key energy project in Mexico. These investments come amid a boom in the Mexican peso and a rollback of industry liberalization by President Andres Manuel Lopez Obrador. Slim's wealth has surged, making him the world's 11th-richest person.

Carlos Slim, the Mexican telecommunications magnate, is increasing his investments in companies involved in Mexico's largest oil exploration effort. His family investment firm, Control Empresarial de Capitales, has accumulated significant stakes in Talos Energy and Harbour Energy. Slim's conglomerate, Grupo Carso SAB, recently acquired a minority stake in a Talos unit, gaining entry into the promising Zama oil field. Despite the Mexican government's control over key assets, Slim's investments are driven by financial reasons. Slim's wealth has surged due to the rising Mexican peso, making him the 11th richest person globally.

Tesla Inc.'s planned factory in Nuevo Leon, Mexico, is facing delays due to Elon Musk's concerns about the global economy, permitting delays, and infrastructure issues. Despite the state government's approval of $153 million in incentives and a land-use permit from Mexico's environmental regulator, the factory's opening is uncertain, possibly not until 2025 or beyond. The investment, initially celebrated as a nearshoring success, is now causing disappointment among locals. Yinlun TDI LLC, a supplier to Tesla's Austin plant, remains hopeful and plans to expand its operations in Mexico. Internal divisions and regional disparities in investment are also challenges that Mexico must address to fully capitalize on nearshoring opportunities.

Petróleos Mexicanos (Pemex) refinanced approximately $8.3 billion in credit lines with major banks, including Banco Bilbao Vizcaya Argentaria SA, JPMorgan Chase & Co., and Citigroup Inc., amid a severe cash crisis. The refinancing includes a $6.5 billion tranche with a three-year loan and renewable credit lines, and a $1.8 billion tranche with a six-month loan and revolver. Despite government support through capital injections and tax exemptions, Pemex continues to face long-term financial decline, with its debt reaching $106 billion by the end of September.

Chinese automobile brands are gaining significant market share in Mexico, driven by competitive pricing and advanced technology. The trend is supported by the increasing acceptance of Chinese products and the strategic expansion of Chinese manufacturers like JAC Motors, MG Motor, and BYD Auto. The shift towards electric vehicles, although still nascent, is also contributing to China's foothold in the North American market. However, competition from established brands and new investments by American manufacturers in Mexico could challenge the growth of Chinese automakers.

United Airlines Holdings and Delta Air Lines have announced direct flights to the soon-to-open Felipe Carrillo Puerto International Airport in Tulum, Mexico. United will start 22 weekly flights from various U.S. cities at the end of March, while Delta will begin service from Atlanta on March 28. The new airport is part of President Andres Manuel Lopez Obrador's initiative to stimulate economic growth and reduce poverty in southern Mexico through increased tourism and industrialization.

The transition from internal combustion engines to electric vehicles is creating significant economic flashpoints globally. In Canada's 'Ring of Fire,' environmental concerns are delaying EV mineral permits. In Thailand, Japanese automakers are losing market share to Chinese companies, while in Mexico, Western automakers are expanding to sell EVs in the U.S., but Chinese firms are increasing local sales. China remains the leader in the EV market.

Petroleos Mexicanos (Pemex) reported a net loss of 79.13 billion pesos, a significant increase from the previous period, with production declining from 1.88 million to 1.85 million barrels a day. Despite government support, including tax cuts and capital injections, Pemex's financial situation has not improved. The company's debt stands at approximately $106 billion, with plans to retire bonds maturing in 2024 through government support. Mexico's lower house of Congress recently approved additional tax relief for Pemex, but the company's long-term financial strength remains uncertain due to declining oil output and unprofitable refineries. Pemex bonds have experienced a rally, but investor confidence is waning, and bond spreads have increased.

Tesla's planned factory in Nuevo Leon, Mexico, faces delays due to economic concerns and infrastructure challenges. While local and federal governments are working to provide necessary permits and incentives, the timeline for the factory's completion remains uncertain. The project, initially seen as a significant step for nearshoring, now faces tempered expectations. Local stakeholders remain hopeful about the economic benefits, drawing parallels with previous investments like Kia Corp.'s plant. However, internal divisions and resource allocation issues pose additional challenges.

Cemex's shares increased as sales exceeded estimates, despite a 75% drop in profits. The Mexican cement company aims to reduce its debt and improve its credit rating. Net income was $126 million, significantly lower than the previous year, due to higher taxes and the absence of an extraordinary gain from asset sales. Revenue rose to $4.6 billion, a 9% increase from the previous year.

Cemex SAB reported a 75% drop in net income to $126 million due to higher taxes and the absence of an extraordinary gain from the previous year's asset sale. Despite this, the company's revenue rose 9% to $4.6 billion, surpassing analyst estimates. Shares increased by 4.8% as the company continues to focus on reducing its debt and improving its credit rating. Cemex plans to refinance $3 billion in bank debt and increase its revolving credit facility to $2 billion. The company is also exploring the sale of its unit in the Dominican Republic as part of its strategy to expand in Europe and the US while pulling back from emerging markets.

Cemex SAB’s shares increased as sales exceeded estimates, despite a significant 75% drop in profits. The Mexican cement-maker aims to reduce its debt and enhance its credit rating. Net income was $126 million, down 75% from the previous year, influenced by higher taxes and an extraordinary gain from asset sales last year. Revenue reached $4.6 billion, surpassing analyst estimates and marking a 9% increase from the previous year.

Petroleos Mexicanos (Pemex) has refinanced approximately $8.3 billion in revolving credit lines from several banks, including Banco Bilbao Vizcaya Argentaria SA, JPMorgan Chase & Co., and Citigroup Inc., amid its significant corporate debt load. The refinancing includes a $6.5 billion tranche with a three-year term loan and revolving credit facilities, and a $1.8 billion tranche with a six-month term loan and revolver. Despite government assistance through capital injections and tax breaks, Pemex continues to face long-term financial challenges, with its debt reaching $106 billion by the end of September. The refinancing aims to improve Pemex's credit profile.

Carlos Slim's investment firm, Control Empresarial de Capitales, has significantly increased its stakes in Talos Energy Inc. and Harbour Energy Plc, key players in Mexico's largest oil exploration project. Slim's Grupo Carso SAB also acquired a minority position in Talos, entering the Zama field, a major energy project. Despite President Andres Manuel Lopez Obrador's policies to maintain government control over key assets, Slim continues to expand his energy investments. His wealth has surged due to a strong Mexican peso, making him the world's 11th-richest person.

United Airlines and Delta Air Lines are launching direct flights to Tulum's soon-to-open Felipe Carrillo Puerto International Airport, aiming to boost tourism and economic activity in the region. United will offer 22 weekly flights from various U.S. cities, while Delta will provide nonstop service from Atlanta. The new airport and the Maya Train project are part of President Andres Manuel Lopez Obrador's strategy to reduce poverty in southern Mexico through increased tourism and industrialization. United is also expanding its network in Latin America and the Caribbean by 25% this winter.

Petroleos Mexicanos (Pemex) reported a significant increase in net losses to 79.13 billion pesos ($4.4 billion), the worst result since the end of 2022. Crude and condensate production also fell, complicating efforts to reduce its substantial debt. Light crude production decreased by 83,000 barrels a day, while condensate production increased by 192,000 barrels a day. The results indicate that government assistance for the state-owned oil company may be insufficient to address its financial challenges.

Heineken NV will invest €430 million ($457 million) to build a new brewery in Yucatan, Mexico, as part of the government's initiative to attract investment to the southern region. The brewery, expected to open in 2026, will utilize advanced water treatment and renewable energy technologies. This move aligns with President Andres Manuel Lopez Obrador's efforts to decentralize industrial development from the north, which has faced severe droughts. The project will create 2,000 jobs and marks Heineken's eighth brewery in Mexico.

Tesla Inc. will receive $153 million in incentives from the Mexican state of Nuevo León to build its next Gigafactory. The incentives include infrastructure development and payroll tax reductions. Despite these incentives, the factory faces delays due to high interest rates and pending local and federal permits. Tesla plans to invest around $10 billion in the factory over several phases, with an initial investment of $4.5 billion.

Tesla Inc. will receive 2.63 billion pesos ($153 million) in incentives from the Mexican state of Nuevo Leon to build its next major factory. The incentives include infrastructure development and tax reductions. Despite these incentives, the factory has faced delays due to high interest rates and pending permits. Tesla plans to invest about $10 billion in the factory over several phases, with an initial investment of $4.5 billion.

Tesla Inc. will receive 2.63 billion pesos ($153 million) in incentives from the Mexican state of Nuevo Leon to build its next major factory. The incentives include infrastructure development and tax reductions. Despite these incentives, the factory has faced delays due to high interest rates and pending permits. Tesla plans to invest about $10 billion in the factory over several phases, with an initial investment of $4.5 billion.

Heineken NV will invest €430 million ($457 million) to build a new brewery in Mexico's Yucatan state, aligning with President Andres Manuel Lopez Obrador's initiative to attract investment to the country's southern regions. The brewery, expected to open in 2026, will produce several brands and employ sustainable practices. This move follows AMLO's call to halt beer production in the drought-stricken north. The announcement was made with Economy Minister Raquel Buenrostro and Yucatan governor Mauricio Vila Dosal, and it will create 2,000 jobs. The decision comes after Femsa, a minority shareholder, decided to divest its stake in Heineken.

Tesla Inc. will receive $153 million in incentives from the Mexican state of Nuevo León to build its next gigafactory, addressing local concerns about delays. The incentives include infrastructure development and payroll tax reductions. Despite these efforts, Tesla's CEO Elon Musk has indicated that the factory faces delays due to high interest rates and will prioritize production in Texas. The incentives follow the approval of Tesla's land use permit by Mexico's environmental regulator, though additional local and federal permits are still required.

Cemex SAB is negotiating with banks to refinance a $3 billion credit line, aiming to improve its debt structure and potentially upgrade its credit rating. The company is also considering issuing local currency bonds and selling assets in emerging markets to focus on its U.S. and European operations. The strong Mexican peso has been beneficial but could complicate pricing dynamics if it continues to appreciate.

The Mexican government, led by President Andrés Manuel López Obrador, is preparing to take control of a quarry and port owned by Vulcan Materials Co. in the Mayan Riviera after failed negotiations. The government plans to declare the land a natural protected area, preventing limestone extraction. This move is part of a broader strategy by López Obrador to assert state control over key assets before his term ends. Vulcan has been in legal disputes with Mexico since 2018 and has sought protection from the Biden administration. The article highlights previous government takeovers of foreign-owned assets and ongoing tensions between the Mexican government and international businesses.

The Mexican government, under President Andrés Manuel López Obrador, is preparing to take control of a quarry and port owned by Vulcan Materials Co. in the Mayan Riviera after failed negotiations. The administration plans to declare the land a natural protected area, preventing further limestone extraction. This move is part of a broader pattern of state interventions in business operations, including previous actions against Air Liquide, Iberdrola SA, and Grupo Mexico. Vulcan has been in legal disputes with Mexico since 2018 and claims the government's actions are illegal. The company sought protection from the Biden administration, citing undervalued purchase offers and environmental allegations.

The Mexican government, led by President Andrés Manuel López Obrador, is preparing to take control of a quarry and port owned by Vulcan Materials Co. in the Mayan Riviera after failed negotiations. The land is expected to be declared a natural protected area, preventing further limestone extraction. This move is part of a broader pattern of government actions against businesses, including previous takeovers and project cancellations. Vulcan has been in legal disputes with Mexico since 2018 and plans to add this latest action to its ongoing arbitration case.

Tesla's plans to build a massive car plant in Nuevo Leon, Mexico, face delays due to economic concerns and permitting issues. The Mexican government has approved incentives to support the project, but further permits and infrastructure development are needed. Local sentiment is mixed, with some hopeful for economic benefits and others cautious about potential setbacks. The project highlights regional economic disparities and the challenges of nearshoring.

Tesla's planned factory in Nuevo Leon, Mexico, faces delays due to economic concerns and infrastructure issues. The Mexican government has approved incentives and permits to support the project, but further approvals are needed. Local sentiment is mixed, with some hopeful for economic benefits and others cautious about potential setbacks. The project highlights regional disparities in Mexico and the challenges of nearshoring.

The United Auto Workers strike is negatively impacting the U.S. automotive industry at a time when President Joe Biden is seeking to attract manufacturing investments, according to Stella Li, President of BYD Americas. BYD, a Chinese electric vehicle manufacturer, faces challenges in the U.S. market due to the Inflation Reduction Act but is exploring opportunities in Mexico and Latin America. The company has partnered with Mexican retailer Liverpool and other local conglomerates to expand its electric vehicle footprint. BYD is also investing in lithium production in Brazil and Chile to support its battery manufacturing needs.

Cemex SAB is negotiating with banks to refinance its $3 billion credit facility, aiming to improve its debt rating to investment grade. The company is considering issuing local currency bonds and selling off assets in emerging markets to focus on the US and Europe. The strong Mexican peso has been beneficial but could complicate future pricing dynamics. S&P Global Inc may upgrade Cemex's credit rating if financial discipline is maintained. Cemex's dollar bonds have outperformed the average return on Latin American debt this year.

Heineken NV will invest €430 million ($457 million) to build a brewery in Yucatan, Mexico, as part of the government's initiative to attract investment to the southern region. The brewery, expected to open in 2026, will employ advanced water treatment and renewable energy technologies. This move aligns with President Andres Manuel Lopez Obrador's efforts to develop less-industrialized southern states and address water scarcity issues in the north. The announcement was made alongside Economy Minister Raquel Buenrostro and Yucatan governor Mauricio Vila Dosal, and follows Femsa's decision to divest its stake in Heineken.

Tesla will receive $153 million in incentives from the Mexican state of Nuevo Leon to build a new factory. The incentives include infrastructure improvements and tax reductions. Despite these efforts, the factory faces delays due to high interest rates and pending regulatory approvals. Tesla plans to invest $10 billion in the factory over several phases, with an initial investment of $4.5 billion.

Heineken NV will invest €430 million ($457 million) to build a new brewery in Yucatan, Mexico, as part of the government's initiative to attract investment to the southern region. The brewery, expected to open in 2026, will employ advanced water treatment and renewable energy technologies. This move aligns with President Andres Manuel Lopez Obrador's efforts to decentralize industrial activity from the north, which faces water scarcity issues. The announcement was made alongside Economy Minister Raquel Buenrostro and Yucatan governor Mauricio Vila Dosal, and is expected to create 2,000 jobs.

The article discusses the significant increase in Cuban migrants at the Tapachula migratory facility in Mexico, with over 1,000 processed in a single week of October, a number that surpasses the 2015 monthly average for the entire country. This surge is attributed to fears among Cubans that the U.S. might revoke their unique migration privileges following the restoration of diplomatic relations between Havana and Washington. The Cuban Adjustment Act and the 'wet foot, dry foot' policy have historically provided Cubans with a path to U.S. residency, considering them political refugees. The article highlights the challenges faced by countries along the migration route, such as Honduras and Mexico, in dealing with the influx. It contrasts the situation of Cubans, who are often well-educated and travel in groups, with that of impoverished Central Americans fleeing violence. The article also touches on issues of corruption and human rights violations, with Cubans filing complaints against Mexican officials for demanding bribes.

BYD, a leading Chinese electric vehicle manufacturer, is exploring Jalisco as a potential site for a new electric car plant. Company executives met with state officials and local suppliers, assessing the region's educational centers, population, and infrastructure. The estimated cost for the plant is around $600 million. BYD's visit is part of a broader trend of increased investment by Chinese and Western automakers in Mexico, with Tesla also building a significant facility in Nuevo León. Jalisco is actively working to attract electric vehicle investments, offering incentives and improving logistics infrastructure.

The Mexican government, led by President Andrés Manuel López Obrador (AMLO), is preparing to take control of a quarry and port owned by Vulcan Materials Co. in Playa del Carmen. The government plans to declare the area a protected natural zone, preventing further limestone extraction. This move follows years of stalled negotiations and is part of a broader pattern of state takeovers under AMLO's administration, including actions against Air Liquide, Iberdrola SA, and Grupo México. Vulcan has been in legal disputes with Mexico since 2018 and views the government's actions as illegal, planning to add this latest move to ongoing arbitration cases.

French industrial gas manufacturer Air Liquide is seeking answers from the Mexican government after it seized a hydrogen processing plant in Hidalgo state. The plant, part of the Miguel Hidalgo refinery, will be operated by Pemex, which is responsible for compensating Air Liquide. This incident is part of a broader trend under President Andres Manuel Lopez Obrador, who has been consolidating state power and clashing with private companies. Other affected companies include Iberdrola and Vulcan Materials Co., both of which have faced government actions impacting their operations.

French industrial gas manufacturer Air Liquide is seeking answers from the Mexican government after it seized a hydrogen processing plant in Hidalgo state. The plant, part of the Miguel Hidalgo refinery, will be operated by Pemex, which is responsible for compensating Air Liquide. This incident is part of a broader trend under President Andres Manuel Lopez Obrador, who has taken actions against private companies to strengthen state control. Previous conflicts include the government's purchase of energy assets from Iberdrola and the seizure of a rail line owned by Grupo Mexico. The article also mentions ongoing tensions with Vulcan Materials Co. over environmental issues.

The article examines the pervasive issue of corruption in Mexico's political landscape, particularly in the context of the upcoming midterm elections. It highlights the withdrawal of Armando Ríos Piter from the gubernatorial race in Guerrero due to corruption concerns and discusses the broader implications of corruption on the political system. The Institutional Revolutionary Party (PRI) is expected to maintain its majority, while the National Action Party (PAN) and the Party of the Democratic Revolution (PRD) face significant corruption allegations. The article underscores the need for greater institutional capacity and legislative reforms to address corruption effectively.

Carmen Aristegui, a prominent Mexican journalist known for her investigative reporting, was dismissed from MVS Comunicaciones, allegedly due to political pressure following her exposé on a corruption scandal involving President Enrique Peña Nieto. Aristegui's firing has sparked public outrage and legal battles, highlighting issues of press freedom and government collusion in Mexico. The case underscores the challenges faced by journalists in a media landscape dominated by powerful interests and a culture of self-censorship. Aristegui continues to fight for her reinstatement and broader issues of freedom of expression.

Carmen Aristegui, a prominent Mexican journalist known for her critical reporting on the government, was dismissed from MVS Comunicaciones after a conflict over editorial guidelines and her involvement in reporting a scandal involving President Enrique Peña Nieto and Grupo Higa. Aristegui's dismissal is linked to her investigation into a luxury mansion built for the president's wife by Grupo Higa, a contractor with state business ties. The case has sparked public support for Aristegui and raised concerns about press freedom in Mexico. Aristegui is taking legal action against MVS, with a hearing scheduled for May 12 to determine if her dismissal was a contract violation. The situation has highlighted issues of media self-censorship, government corruption, and the slow progress of political reform in Mexico.