Bloomberg – Mexico’s peso posted a back-to-back gain as data showed international reserves rose for a second week, easing concern the central bank could run out of dollars to sell as part of a new intervention program.
Undercurrent News – Pinsa Group, the owner of Mexico’s biggest tuna brands, is expecting a growth in exports after expanding its tuna and sardine operations on the back of an investment totaling $165 million.
Sentido Comun – Herdez Group, one of the largest producers of processed foods in Mexico, plans to invest 1,000 million pesos ($55.8 million) this year to expand operations, with the vast majority of resources to their business in frozen products.
Sentido Comun – Benjamin Salinas Sada, the newly appointed CEO of TV Azteca announced that the company will carry out a reorganization of its contents, including a “historic” investment in new productions.
Sentido Comun – Corporacion Geo, one of the three companies hit hard by the 2013 housing sector crisis, seeks to reposition itself in the market over the next 12 months and return to trading on the Mexican Stock Exchange.
By Mónica Ortiz Uribe / PRI
They make everything from puppy chew-toys to Dell computers to giant wind turbines, but when they try to form a union, they face big trouble.
For half a century, multinational companies have flocked to Ciudad Juárez in search of cheap labor at the doorstep of the United States. Today, El Paso’s neighbor has the largest labor force along the US-Mexico border. In good times, about 200,000 workers are employed at more than 300 factories.
Workers help fuel a half-trillion dollars in annual trade between the US and Mexico, a figure that’s grown six-fold in the last two decades. That’s brought prosperity to American border cities like El Paso, where one out of every four jobs is tied to trade and per capita income is rising at a faster pace than the national average.
But on the Mexican side, the peso has been falling in value, while wages have not kept up. According to a study by Mexico’s National Autonomous University, Mexico’s minimum wage has lost 78 percent of its value in the last 30 years.
A study by the Hunt Institute for Global Competitiveness at the University of Texas at El Paso shows factory wages in Juárez are among the lowest in Mexico, and plant manager salaries are among the highest. When compared to manufacturing wages in China, Mexico is now 40 percent cheaper.
“You can’t live on our salaries,” says Brenda Estrada, a former employee of one border manufacturer, the American telecommunications giant CommScope. “You just survive.”
Estrada is among those who say CommScope fired them last year for forming a union.
Reuters – Mexico has confirmed 11 pregnant women are infected with the Zika virus, out of a total of 121 cases. Most of the cases were identified in the southern Mexican states of Chiapas and Oaxaca.
CTV – A second Canadian parent says her child became ill with a fever-and rash-producing infection while vacationing at Cancun. Doctors told her the two-year-old probably had hand-foot-and-mouth disease.
Breitbart – Presidential candidate Donald Trump asked a protester during a Monday rally if the individual was from Mexico and ordered her out. His statement comes just days after he made a racially-charged statement against a Hispanic federal judge.
AFP – Mexico’s government will fire more than 3,300 teachers who skipped evaluations under a controversial education reform that has sparked protest in the country’s poorest states.
Latin Correspondent – In an effort to tackle gender inequality in Mexico, the federal government has recently joined the feminist #HeForShe United Nations media campaign.
Flight Global – US aircraft developer Spectrum Aeronautical hopes to secure funding by the end of June to launch production of its Freedom S-40 business jet, and has selected Mexicali as the manufacturing and flight test centre for the midsize type aircraft.
Variety – Call it cinema’s revenant: Left for dead two decades ago, Mexico’s movie industry is now thriving under a golden generation of film-makers who have scooped up Oscars for three years in a row.
Mining – Close to 40,000 cubic meters of wastewater from a copper mine in northern Mexico spilled into rivers in 2014, forcing authorities to restrict water supply to urban areas. The leak, now considered the worst environmental disaster in the country’s history, came from Grupo Mexico’s Buenavista copper mine located only about 40 km from the U.S. border.
Reuters – Mexico’s Grupo Aeroportuario Centro Norte, known as OMA and partially owned by embattled construction firm ICA, saw its fourth-quarter net income rise 40 percent to 396 million pesos ($23 million).