Category Archives: Companies

Trump’s Mexico tax could halt Chipotle recovery

Salon – For Chipotle Mexican Grill, President Trump’s threat to jack up prices on Mexican fruits and vegetables is no joke. Any increase in the cost of its primary raw ingredients would do measurable harm to the Denver-based Tex-Mex chain just as it’s digging out from a crippling string of E coli and norovirus outbreaks that occurred at Chipotles in numerous states in the latter half of 2015.

BBVA warns of tougher times in Mexico

Reuters – BBVA warned of a tougher business environment in Mexico this year while the Spanish bank’s largest market adapts to the policies of U.S. President Donald Trump. A 14 percent fall in the peso over the past year, on concerns Trump could rip up a free trade deal with his southern neighbor, contributed to a drop of nearly 30 percent in fourth-quarter profit at BBVA.

U.S. banks cut exposure to Mexico

CNBC – Whether by foresight or mere good fortune, U.S. banks have reduced their exposure to Mexico just as tension between the two countries is heating up. Over a two-year period, the financial institutions cut their dealings with Mexico by 13 percent, according to consulting and analysis firm SNL Financial. The 11 U.S. banks with the most Mexico exposure have a combined $96 billion in cross-border claims.

Chinese giant buys U.S. firm that does Mexico money transfers

CNN – Ant Financial, a related company of Alibaba, the global conglomerate backed by Chinese billionaire Jack Ma, is buying MoneyGram for $880 million. The deal could be one of the first tests of how serious President Donald Trump is about cracking down on money transfers, also known as remittances, to Mexico.

Corona has a Trump-Mexico problem

CNNMoney – Just one day after Donald Trump was elected president, the U.S. company that distributes Corona took a 7% dive in the stock market — and it hasn’t recovered. The post-election slump is largely driven by fears that Trump’s aggressive stance towards Mexico will ricochet against Constellation’s portfolio of Mexican beer brands Corona, Modelo and Pacifico.

Slim to launch TV channel in U.S. for Mexicans

Reuters – Mexican tycoon Carlos Slim’s cell-phone company, America Movil, said it would launch a television channel in the United States targeting Mexican audiences later this year, putting it into competition with broadcasters like Univision and Telemundo. Named Nuestra Vision, the channel will be offered by the America Movil unit Publicidad y Contenido Editorial. 

Why was Carrier moving to Mexico in the first place?

Reason – In all the hubbub surrounding The Carrier Deal, there was one question that went unasked. Why did Carrier want to move those jobs out of Indiana in the first place? One factor stood out when Carrier executives met with Mike Pence, then the governor of Indiana, last year. After the meeting, Pence said the decision to relocate had nothing to do with Indiana’s business climate but with the “rising red tape” in Washington D.C.

Constellation stocks fall on Trump concerns

WSJ – Investors cheered after Constellation Brands Inc. acquired the U.S. rights to Anheuser-Busch InBev NV’’s fast-growing Mexican beers in a $5 billion-plus deal in 2013. But shares were 8.3% lower at $152.76 in early afternoon trade on concern a Donald Trump presidency could hurt the largest U.S. distributor of Mexican beer, including Corona, the country’s top-selling import.

Constellation to buy Grupo Modelo brewery

UPI – Constellation Brands announced plans to acquire a Grupo Modelo brewery for $600 million to meet growing demands of its beer imported south of the border. The brewery in Obregon is a subsidiary of Anheuser-Busch InBev. Constellation’s best-selling imported beer brands include Corona, Modelo and Pacifico.

Rexnold Bearings moving work to Mexico

WRTV -Another Indianapolis company has “tentatively decided” to move jobs to Monterrey, Mexico. Rexnord Bearings announced to its employees hat some jobs were going to be moved out of the country beginning in 2017, according to the union that represents those employees.

The move comes just 8 months after Carrier workers found out their jobs were being phased out of an Indianapolis manufacturing plant and instead moved to Carrier’s facility in Monterrey.

Ford CEO met with Trump over “infuriating” Mexico comments

CNBC – Ford Motor Executive Chairman Bill Ford Jr. said on Wednesday he has met with Donald Trump to talk about the Republican presidential candidate’s extensive criticism of the automaker’s investments in Mexico. Ford told the Economic Club of Washington that he thought Trump’s criticism of the No. 2 automaker’s foreign investments were “infuriating and “frustrating” because of the company’s extensive investments and employment in the United States. Trump has threatened if elected to impose hefty tariffs on Ford imports from Mexico.