Michelle del Campo (EN)

Reporter

Mexican reporter specialized in companies. I like to cover topics related to sustainability, startups, and cross-border issues. Previously I was part of Infosel-Sentido Común, Transparencia Mexicana and Fundación Este País.

México

Sheinbaum’s Congressional Landslide Win Shakes Mexican Markets Even as Ramírez de la O Stays On

While Claudia Sheinbaum’s presidential win was anticipated, analysts say the markets were unprepared for Morena’s overwhelming majority in Congress

English

Mexican Glassmaker Vitro Braces for Restructuring, Won’t Delist from Stock Exchange

Claudio Del Valle, CFO at the company owned by the powerful Sada family, commented on plans to reconfigure corporate structures amid tension with minority shareholders

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Nu Holdings Seeks Approval to Operate as a Bank In Mexico

The ‘neo bank’ has filed an application with Mexico’s banking and stock exchange commission to operate as a financial institution in the country, the company tells Bloomberg Línea

English

SEC Accuses Mexico’s Aras Investment and CEO of Running a Ponzi Scheme In the US

Aras Investment Group, and its CEO Armando Gutiérrez, ran the scheme affecting Mexican clients and promising investors 10% monthly yields, the US Securities and Exchange Commission alleges

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Mexico’s FEMSA Hires Former Nubank Executive to Head Digital Segment

Juan Carlos Guillermety joins from Nubank, where he worked for more than four years, and replaces José Antonio Fernández Garza-Lagüera, who will assume leadership of FEMSA’s retail business

English

Mexico to Recover FAA Category 1 Air Safety Rating

The US Federal Aviation Administration is to restore Category One status to the country, President Andrés Manuel López Obrador announced on Friday

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Mexico’s ICA Changes Its Name to Inanis Sociedad as Its Shares Delist

The beleaguered construction company’s shareholders voted to change its name as it withdraws its ‘zombie’ shares from the BMV

English

Alpek Closes Mexico Filament Plant as Asian Production Outstrips Demand

The petrochemical company has closed a plant in Monterrey, the second it has shuttered this year, but its production has represented a minimal contribution to total EBITDA in recent years

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US to Contribute $40M to AMLO’s Social Programs In CentAm, Cuba and Ecuador

The funds will be used to assist social programs implemented by the Mexican government in El Salvador, Honduras, Belize, Guatemala, Cuba and Ecuador

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How the Strength of Mexico’s Peso Will Be Key to Companies’ Second-Quarter Results

A stronger local currency means lower revenues for companies that receive payment in US dollars, but could also result in lower costs

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Citigroup’s Separation of Banamex and Asia Divestments Cost the Bank $92 Million

The separation of the Banamex unit and its divestments in Asia contributed a 36% fall in the group’s net quarterly profits

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Latino Music Boom Forces Streaming Platforms to Seek Innovative Marketing Strategies

‘Latin America is a diamond,’ representing 21% of Spotify’s listeners, the company’s sales director for the region, Diana Ramírez, tells Bloomberg Línea

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Mexico’s FEMSA Offloads Majority of Its Shares In Heineken

The parent company of the Oxxo convenience store chain and bottler Coca-Cola FEMSA has sold almost all of its shares in the world’s second-largest brewery

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Mexican Minister’s Exit to Seek Presidential Candidacy Won’t Be the Last, AMLO Says

President Andrés Manuel López Obrador expects a number of government officials to resign, including his interior minister and Mexico City’s mayor, following the resignation of foreign minister Marcelo Ebrard

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Mexican Companies to Watch In Second Half 2023

These are the companies that investors should keep an eye on, according to analysts consulted by Bloomberg Línea

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Which Mexican Companies Have the Highest Earnings Per Employee?

Bloomberg Línea presents a list of the Mexican companies that are the most efficient in terms of generating profits with their employees

English

Mexico’s Car Production Slows In April

Carmakers in Mexico produced 15% fewer vehicles than during the previous month, although the figure was 17% higher than in April 2022

English

Constellation Brands, Brewer of Corona Beer, Mulls Shipment Routes from Veracruz to US

The company’s new plant in the eastern Mexican state is the result of the government having vetoed the construction of a plant in the border city of Mexicali owing to water shortages

English

Carmakers In Mexico See Stronger Sales, But Production Yet to Recover

Sales in March were the strongest since 2019, but car production in the country is still 1.3% below pre-pandemic levels

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Constellation Brands, Brewer of Corona Beer, Earmarks $1B to Expand Production

The brewer, which produces the Modelo and Corona brands for the US market, saw its Mexican beer sales shrink in Q4 2022

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Tesla to Break Ground On Mexico Plant this Month With $6B Investment

The electric car maker is eyeing a late-2023 start-up for the Gigafactory to be built near Monterrey, in Nuevo León state

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Tequila Overtakes Whisky and Is On Track to Edge Out Vodka as Favorite Tipple In US

Agave-based drinks sales contributed around $1.6 billion to the US beverage industry in 2022

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Mexican Short-Haul Carrier Aeromar Ceases Operations Amid Financial Woes

The Mexican airline, which served domestic destinations, has announced its definitive grounding due to financial problems, with the payment of some salaries still pending

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Mexico, US and Canada Seek to Substitute 25% of Asian Imports for LatAm Products

The substitution of imports from Asia could be a multi-million-dollar business opportunity for Mexico

News in English

What’s On Mexico’s M&A Horizon In 2023?

Mergers and acquisitions activity is expected to maintain the pace of 2022 this year, in terms of the average number of deals

News in English

Izzi, Megacable Merger Would Create a Strong Competitor for Telmex

A potential merger would represent 26 million subscribers, surpassing Telmex’s 21 million to Q3

News in English

10 Mexican Companies to Watch In 2023

Analysts see these 10 companies as standing out in the coming months amid high inflation and an impending recession, but also enjoying a possible bonanza due to nearshoring

News in English

Carlos Slim’s Inbursa Pulls Out of Bidding for Banamex

The decision was by mutual agreement, after Inbursa had presented a non-binding offer to acquire Citigroup’s retail banking business in Mexico

News in English

Mexico’s Nemak Gears Up for Electric Vehicle Boom With $1.1B Investment

The Mexican auto parts manufacturer’s investment comes as the US is seeking to improve the North American supply chain for electric vehicles

News in English

Mexico’s FEMSA Enters Fintech Space to Offer Remittances, Loans

Mexican conglomerate FEMSA, which owns the ubiquitous Oxxo convenience stores, has been granted a license to operate as a fintech and aims to offer personal loans and to small businesses

News in English

Mexico’s Televisa to Spin Off Several Business Segments and Create Listed Company

The new company in charge of the media giant’s soccer, stadium and publishing businesses will list on Mexico’s stock exchange

News in English

Marriott Buys Mexican Hotel Chain City Express, Becomes LatAm’s Biggest Hospitality Brand

The $100 million transaction includes the brands City Express, City Express Plus, City Express Suites, City Express Junior and City Centro and will bolster Marriott’s international presence by 45%

News in English

Viva Aerobus, Allegiant Hoping to Land US Antitrust Immunity to Share Routes

The merger between the two airlines has been approved in Mexico, but requires approval of antirust immunity in the US in order for the Mexican and US-based airlines to be able to share routes

English version

Mexican Companies’ Q3 Reports Could Hint at First Signs of a Recession

Companies listed on Mexico’s stock exchange have until October 28 to file their third-quarter reports, and which will reveal their financial state of affairs and expectations for the coming months

English version

Mexico’s Alsea Marks 20 Years of Operating Starbucks, Plans to Continue Expansion

The operator of the coffee shop franchises in Mexico now also operates branches in Argentina, Chile, Colombia and five European countries

English version

High Fuel Prices Cause Headwinds for Mexican Low-Cost Carrier Volaris

The low-cost airline’s passenger numbers dropped in June, and which some analysts see as a sign of increased fares due to higher fuel costs

English version

Mexican Prosecutors Probe Ex-President Peña Nieto

The investigation centers on a series of bank transfers totaling 26 million pesos ($1.26 million) by one of the former president’s relatives

English version

Supply Chains Won’t Go Back to Normal, DHL Says

In an interview with Bloomberg Línea, Oscar de Bok, CEO of the logistics giant’s supply chain division, advises companies to diversify their sources and adopt ‘omnishoring’