All posts by Diane

Mexico’s Black Friday: Just another shopping day?

Customers wait in line to pay for their merchandise during Mexico’s “El Buen Fin,” but sales during the country’s version of “Black Friday” have slowed this year. (Bloomberg News)
Customers wait in line to pay for their merchandise during Mexico’s “El Buen Fin,” but sales during the country’s version of “Black Friday” have slowed this year. (Bloomberg News)

By Anthony Harrup / Wall Street Journal

Mexico’s version of Black Friday, known as El Buen Fin or “the good weekend,” has seen sales grow annually since its inception in 2011, although in its fourth edition this year growth slowed to 13.7 percent from around 40 percent in its first two years.

A survey by Deloitte suggests that retailers don’t necessarily make their best offers over the long holiday weekend in mid-November, and that while consumers might bring forward some of their Christmas shopping, a vast majority still have more spending to do in December.

http://blogs.wsj.com/economics/2014/12/22/mexicos-black-friday-just-another-shopping-day/

Multinational firm in tax-avoidance scheme to pay up

Reuters – Mexico’s tax collection agency (SAT) has reached a deal with a multinational company at the center of a tax-avoidance investigation, and the latter will make a ‘substantial’ payment soon. The company was not named, but Reuters reported that toymaker Hasbro, along with household product maker Procter & Gamble, were at the heart of the tax probe.

http://www.reuters.com/article/2014/12/22/mexico-taxes-idUSL1N0U229020141222

Grupo Higa and partners won’t bid on bullet train

El Siglo de Torreon – Group Higa has informed the government that it will not participate in the tender to build a bullet train between Mexico City and Queretaro, Its two other Mexican partners in the bid that was canceled when questions were raised about inappropriate gifts also will not participate.

http://www.elsiglodetorreon.com.mx/noticia/1070383.grupo-higa-no-ira-a-licitacion-de-tren-rapido-.html