Reuters – Ford Motor Co (F.N) on Thursday reported a fourth-quarter loss, reflecting pension accounting and writedowns for abandoning a planned factory in Mexico, and reaffirmed its forecast that profits for 2017 would be lower.
CNBC – Jose Cuervo, the world’s biggest tequila producer, is planning a Feb. 8 pricing for its delayed initial public offering (IPO) in a bid to raise up to $1 billion, two sources familiar with the matter said on Monday.
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.
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.
LAT – Spanish-language media giants Univision Communications and Grupo Televisa of Mexico are combining their programming units, a move that underscores the increasingly close collaboration between the two companies — and the magnitude of their ratings challenges.
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.
AP – One of two Portland-based glass manufacturers that sparked toxic air concerns earlier this year has been sold to a California company and will have production of its materials moved to Mexico.
Reuters – Retailer Wal-Mart de Mexico said on Wednesday it will invest $1.3 billion in logistics in Latin America’s No. 2 economy, in what is perceived as a show of commitment to Mexico at a time of uncertainty after the election of Donald Trump.
Mirror – British workers who were given the chance to keep their jobs if they moved to Mexico have rejected the “insulting” offer. Tire giant Goodyear gave 330 workers at its only UK plant the choice of being made redundant or moving 5,000 miles away .
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.
Reuters – Mexican homebuilder Geo named a new chief executive officer, less than a year after the previous CEO took over. Juan Carlos Diaz, who previously headed Mexican homebuilder Sare, replaced Juan Carlos Brainff on Oct. 24.
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.
Reuters – Mexico’s competition regulator Cofece said on Wednesday it had opened an investigation into possible “absolute monopolistic practices” in the country’s medicines market.
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.
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.
Reuters – Mexican broadcaster Televisa signed content distribution deals with NBCUniversal and its Spanish-language unit Telemundo to expand its selection of films and series, boosting its recently launched streaming video service.
WSJ – Citigroup Inc. added its name to its closely watched Mexico unit and announced plans to upgrade its retail business in the country with an investment of more than $1 billion by 2020. The unit, previously called Banco Nacional de México or Banamex, will now be known as Citibanamex. The change ties the Mexican unit, which ran into problems while operating relatively independently a few years ago, more closely to its U.S. parent.
Bloomberg – AT&T Inc.’s U.S. wireless customers might be tempted to try signing up for its service in Mexico instead. South of the border, AT&T offers a 6-gigabyte data, voice and text plan — including full coverage in the U.S. — for a whopping 69 percent less, in dollar terms.
Reuters – Canada’s Goldcorp Inc said it was temporarily shutting down operations at its Peñasquito gold mine in Mexico, following a week-long blockade by a trucking contractor to protest the miner’s plans to diversify its local transportation supply chain.
Reuters – Infraestructura Energetica Nova will offer about $350 million in a primary stock offering later this month, the firm said on Monday. The offer will consist of 323 million shares, but could rise to 380 million shares, including over-subscription options and additional placement options. The company, known locally as IEnova, is a unit of U.S. firm Sempra Energy.