Reuters – Microsoft Corp. has pledged to invest around $1 billion in Mexico between this year and 2018 to promote education and access to information technology in the country, the Mexican government said.
WSJ -Mexican broadcaster TV Azteca, whose shares have fallen by more than half in the past year, replaced its chief executive with the son of the company’s controlling shareholder. 32-year-old Benjamín Salinas Sada took over from Mario San Román who had held the post since 2004.
Reuters – Mexican telecommunications firms Alestra, a unit of industrial conglomerate Alfa, and Axtel announced they would merge to better rival Carlos Slim’s America Movil, which currently dominates the market.
Market Watch – Teva Pharmaceutical Industries Ltd. agreed to acquire Representaciones & Investigaciones Medicas, or Rimsa, for $2.3 billion, expanding the Israel-based drug maker’s presence in Mexico.
Sentido Comun – Ethan Allen Interiors, designer, manufacturer and distributor of home furnishings, will invest $15 million to build a second production facility in Silao, Guanajuato.
Sentido Comun – Genomma announced that not only will it not achieve its sales growth expectations for this year as predicted in March, but revenues will drop from the need to further reduce inventories.
Sentido Comun – Starbucks opened its 500th store in the country, 13 years after its arrival in Mexico. The coffee chain is present in 52 cities of the republic and employs 6,000 workers.
Bloomberg – Mexico’s largest tortilla, bread, mayonnaise and chicken makers have gained investors an average 14 percent in U.S. dollar terms this year, compared with an average 15 percent loss for food companies across Latin America.
Reuters – Construction firm OHL Mexico, which has been embroiled in a corruption scandal, is suing highway technology company Infraiber for damages because of Infraiber’s “campaign to discredit” the company.
Sentido Comun – Grupo Salinas is changing the name and format of its stores that rent and sell movies and video games from Blockbuster and Game Rush to The B Store.
Bloomberg – Citigroup Inc. is losing its long-established ranking as the second-biggest lender in Mexico as two Spanish banks step up to fill the void. The lender’s Mexico unit, known as Banamex, lost its No. 2 position after sitting out much of the nation’s recent lending boom.
Sentido Comun – RLH Properties, a hotel development company that owns the Four Seasons in Mexico City, has made a request to carry out an initial public offering on the Mexican stock market.
Sentido Comun – Alsea, Mexico’s largest owner of chain restaurants and cafes, said it will invest more than 2 billion pesos ($119.2 million) next year to open 140 new units to continue with its strategy of national and international expansion.
Sentido Comun – Carlos Slim’s Promotora Carso won the $471 million CFE contract to build, operate and maintain the pipeline linking Samalayuca in Chihuahua with Sasabe in Sonora.
Reuters – OHL Mexico sued Infraiber, a small highway technology company, for disseminating leaked recordings that have embroiled the builder in a corruption scandal. The lawsuit is the latest twist in an acrimonious battle between the two companies that has played out in Mexico for months.
Sentido Comun – Petroleos Mexicanos, the state oil company, and the Union of Oil Workers of the Mexican Republic reached an agreement to renew their collective bargaining agreement for 2015-2017, which included a wage increase of 3.99 percent.
CNNExpansión – After nearly two years of speculation about the listing of the airline Interjet on the Mexican Stock Exchange, Chairman Miguel Aleman Velasco said its possible the company will list an IPO in 2016.
CNNExpansión – The crisis engulfing OHL Mexico is far from over and leaks of new telephone calls that involve President Enrique Pena Nieto only deepens the losses of investors owning shares in the company.
Bloomberg – Telefonica is open to deals and agreements with rivals including AT&T Inc. in Mexico to help bolster growth in Latin America’s second-largest economy, a company executive said.
Sentido Comun / Reuters – Grupo Comercial Chedraui, Mexico’s third ranking supermarket chain, defended itself against allegations by the civil organization Project Organization, Development, Education and Research (Power) that its is selling food products whose expiration date had expired.