DIRS.INFO The most relevant business & tech news

☆ Mexico denies cartels control parts of country, rejecting Blinken remark
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

"That is false," Lopez Obrador said in a regular news conference. Blinken had also said that the opioid fentanyl coming from Mexico was killing both Americans and Mexicans. Lopez Obrador has denied in recent days that Mexico is responsible for the quantities of the drug coming into the United States. "More fentanyl reaches the United States and Canada directly than reaches Mexico," Lopez Obrador said last week. "I can tell Mr. Blinken, we're constantly destroying labs," Lopez Obrador said.

☆ Facing spying claims, Mexico president says activist's phone call was recorded
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, March 23 (Reuters) - Mexican President Andres Manuel Lopez Obrador on Thursday confirmed for the first time that the government monitored the phone of a human rights activist, saying it was part of a probe into a suspected gang member. Lopez Obrador has repeatedly denied allegations that his government has spied on activists, journalists and opponents, while saying it does intelligence work to fight crime. On Thursday, he said the government had access to Ramos' phone because officials were investigating a suspected criminal that he said the activist had spoken to. "This citizen ... was speaking on the phone to a suspected drug trafficker," Lopez Obrador said in a regular news conference. Lopez Obrador has said the government doesn't use Pegasus.

☆ Mexican president calls U.S. State Department 'liars' after rights report
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, March 21 (Reuters) - Mexican President Andres Manuel Lopez Obrador on Tuesday forcefully rejected criticism of his government's record on human rights, describing reports of official abuses made in a new U.S. State Department study as "lies." The report also stated that "impunity and extremely low rates of prosecution remained a problem for all crimes, including human rights abuses and corruption," and criticized violence against journalists in Mexico. Asked about the report at a news conference, Lopez Obrador dismissed it, saying, "they're lying," and noted the U.S. "believes it's the government of the world." "It's not worth getting angry about, that's just how they are," said Lopez Obrador, who is due to meet with former U.S. Secretary of State John Kerry in Mexico later on Tuesday. State Department acting spokesperson Vedant Patel, speaking at a news briefing, rejected criticism that Washington was acting like "the government of the world" and doubled down on the findings of the human rights report.

☆ Mexico makes lots of electric cars, but few Mexicans drive them
▼ + stars: | 2023-03-21 | by ( Aida Pelaez-Fernandez | ) www.reuters.com time to read: +5 min

General Motors Co, Ford Motor Co, BMW and Volkswagen's Audi unit also are producing EVs in Mexico, or plan to. "There are still a number of issues that need resolving in Mexico before there's a massive influx of electric cars," said Mario Hernandez, KPMG's lead manufacturing partner in Mexico. Hernandez said drawbacks included a lack of subsidies for buyers, high costs for installing charging devices at homes and a shortage of public charging stations, vital for longer journeys. Mexico has about 1,100 charging stations nationwide, mostly in the capital and other major cities, according to AMIA. Pedro Corral, director of operations for EV charging stations platform Evergo, drives his all-electric i3 BMW around Mexico City.

☆ US firm says Mexican authorities illegally seized its port terminal
▼ + stars: | 2023-03-20 | by ( Sarah Morland | ) www.reuters.com time to read: +3 min

[1/2] A sign reading "Closure" hangs on a fence at the entrance of the limestone mining by Vulcan Materials in Calica, in Quintana Roo state, Mexico May 6, 2022. Mexico's government on Friday ordered a halt to Vulcan Materials, a producer of gravel and crushed stone, citing environmental concerns and provoking the U.S.-based firm to say it will take legal action to restart operations in Playa del Carmen. REUTERS/Paola ChiomanteMEXICO CITY, March 20 (Reuters) - U.S. construction materials company Vulcan Materials (VMC.N) said on Monday Mexican security forces illegally took possession last week of its port terminal in southern Mexico, amid an extended lawsuit over its nearby limestone mining activities. It follows a 5-year fight with the Mexican government over Vulcan's concessions punctuated by sharp criticism from the country's president last year. Vulcan declined to say how last week's action was illegal or who is currently in control of its terminal.

☆ Mexican finance minister says "satisfied" with Citibanamex sale
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

MERIDA, Mexico, March 17 (Reuters) - Mexico's government is "satisfied" with the sale process of Citigroup's (C.N) Mexican retail bank Citibanamex, Finance Minister Rogelio Ramirez de la O said on Friday, adding that the bank is now in the due diligence process with potential buyers. Billionaire German Larrea's conglomerate Grupo Mexico (GMEXICOB.MX) and the head of Mexico's Mifel bank Daniel Becker (MIFEL.UL) are the last two bidders for the bank. "We have not been aware that either of the two have left (the process)," the finance minister said. Reuters had previously reported that Grupo Mexico had emerged as the front-runner to buy the consumer banking unit over rival bidder Becker, having secured a $5 billion debt package for its proposed, citing sources. In February, Citigroup's Chief Executive Jane Fraser met with Mexican President Andres Manuel Lopez Obrador amid the bank's attempt to finalize the sale of its local unit.

☆ Mexico FinMin expects Pemex able to handle 2023 debt amortizations, government there if needed
▼ + stars: | 2023-03-17 | by ( Noe Torres | ) www.reuters.com time to read: +1 min

Companies Petroleos Mexicanos FollowMERIDA, Mexico, March 17 (Reuters) - Mexican Finance Minister Rogelio Ramirez De La O said on Friday he expects state oil firm Petroleos Mexicanos, known locally as Pemex, to be able to handle its debt amortizations in 2023, though reaffirmed that the government would be there if needed. With its financial debt totaling nearly $108 billion at the close of last year, Pemex must pay down some $8.2 billion expiring this year and another $9 billion more in 2024 in both bonds and long-term bank loans, putting it in a challenging financial position. The finance minister's latest comments came after Mexico's President Andres Manuel Lopez Obrador said in January the government would provide further support to Pemex to ensure it meets its debt repayments. The government lifeline has provided the company with some $45 billion between capital injections and tax benefits over the last four years. Reporting by Noe Torres; Editing by Anthony EspositoOur Standards: The Thomson Reuters Trust Principles.

[1/6] Pills are pictured at a fentanyl pill manufacturing center and a methamphetamine lab seized by the Mexican Army, in Culiacan, in Sinaloa state, Mexico February 14, 2023. Reuters GraphicsThe hiked up figures are not credible, say two former senior law enforcement figures in Mexico and the United States, as well as two serving Mexican security sources. The description of the drugs the Mexicans say they seized in the labs also raises questions about the accuracy of the lab data, said two of the security sources. Laboratory busts, often in hard-to-reach mountainous areas, have historically been a key metric for how active Mexican security forces have been in targeting drug trafficking groups. In 2022, FGR reported 18 lab raids by all security agencies, compared to the army's count of 492 raids.

☆ Mexico's leader pushes back on US fentanyl criticism
▼ + stars: | 2023-03-17 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsMexico's leader pushes back on US fentanyl criticismPostedMexican president Andres Manuel Lopez Obrador told a news conference on Thursday it was not Mexico that was responsible for the introduction of most fentanyl into the United States, adding that "more fentanyl reaches the United States and Canada directly than reaches Mexico."

☆ Mexican president says more fentanyl enters the U.S. and Canada than Mexico
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

However, President Andres Manuel Lopez Obrador told a news conference it was not Mexico that was responsible for the introduction of most fentanyl into the United States. "I maintain that more fentanyl reaches the United States and Canada directly than reaches Mexico," he said. Lopez Obrador, who has bristled at suggestions the U.S. could intervene in Mexico, said Mexican officials had explained to him that only blue fentanyl pills turned up in Mexico. "Over in the United States they've got all colors and flavors," the president said. Asked whether there were fentanyl production labs in the country, Lopez Obrador said "yes" but underlined that the raw materials used to make the drug were coming from Asia.

☆ Mexican president floats banning use of medicinal fentanyl
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, March 15 (Reuters) - Mexican President Andres Manuel Lopez Obrador on Wednesday proposed putting an end to medicinal use of fentanyl, a powerful synthetic opioid blamed for rising U.S. drug overdose deaths which has fed tensions between his country and the U.S. Lopez Obrador has vigorously rejected such suggestions, and argues his government is reducing the threat posed by the drug, saying it has seized more illegal fentanyl than "ever before." During a regular news conference, he said he would ask medical experts to analyze the possibility of "substituting fentanyl for medical uses with other painkillers." Earlier this week, Mexico said it was not a production hub for fentanyl, saying the drug and its ingredients largely come from Asia. Reporting by Mexico City Newsroom Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ 'Mexico is safer than the U.S.', Mexican president says
▼ + stars: | 2023-03-13 | by ( Dave Graham | ) www.reuters.com time to read: +3 min

MEXICO CITY, March 13 (Reuters) - Mexico's president said on Monday his country is safer than the United States, pushing back against U.S. critics of his security record following a deadly kidnapping this month near the border that claimed the lives of two Americans. The March 3 attack on four Americans in the Mexican city of Matamoros and their subsequent abduction was covered closely by U.S. media and sparked recriminations from politicians in the U.S., particularly Republicans. By the time Mexican authorities found the Americans, two of them were dead. "Mexico is safer than the United States," he told reporters when questioned about the warnings at a news conference. Additional reporting by Isabel Woodford and Lizbeth Diaz in Mexico City and Julia Harte in New York; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico's top diplomat stresses cooperation with U.S. versus intervention
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, March 10 (Reuters) - Mexico's top diplomat on Friday criticized comments by former U.S. Attorney General William Barr, who had called for increased U.S. involvement in Mexico to tackle drug cartels, saying Mexico "will never allow its sovereignty to be violated." Barr's opinion piece compared Mexico's "narco-terrorist" cartels to the jihadist Islamic State and backed a Republican proposal to give the U.S. president the power to send the military to fight against the cartels. Mexican President Andres Manuel Lopez Obrador rejected the calls for U.S. intervention Thursday, calling them "irresponsible." "We need an effective drug policy, and the illegal flow of weapons into Mexico must stop," Ebrard added. Reporting by Kylie Madry Editing by Chris Reese and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico president rejects 'irresponsible' calls for US military action against cartels
▼ + stars: | 2023-03-09 | by ( Brendan O'Boyle | ) www.reuters.com time to read: +2 min

MEXICO CITY, March 9 (Reuters) - Mexican President Andres Manuel Lopez Obrador on Thursday rebuked calls from some U.S. lawmakers advocating military action in Mexico against drug cartels, describing the proposals as threats to Mexican sovereignty. "We are not going to permit any foreign government to intervene in our territory, much less that a government's armed forces intervene," Lopez Obrador said during a regular news conference. The kidnapping of four Americans - two of whom were killed - in a northern border state intensified calls from Republican lawmakers in Washington to take a tougher line on organized crime. "In addition to being irresponsible, it is an offense to the people of Mexico," Lopez Obrador said during the news conference, adding that Mexico "does not take orders from anyone." Lopez Obrador said he would begin a public information campaign aimed at Mexicans in the United States about the Republican-led proposal.

Mexico published a presidential decree on genetically modified (GM) corn in late 2020, saying it would ban GM corn in the diets of Mexicans and end the use the herbicide glyphosate by Jan. 31, 2024. The new decree eliminated the deadline to ban GM corn for animal feed and industrial use, by far the bulk of its U.S. corn imports. The new plan bans only GM corn used for dough or tortillas but leaves the door open to gradually substituting GM corn for animal feed and industrial use in the future. Some sector experts have said they worry that Mexico's restriction on GM corn, if successful, could set a precedent, prompting other countries to take a similar approach and disrupting the global corn trade. Corn for human food use comprises about 21% of Mexico's corn imports from the U.S., according to a representative from the National Corn Growers Association, citing U.S. Grains Council data.

☆ Exclusive: Mexico's Pemex, 'punished' by markets, weighs how to pay heavy debt
▼ + stars: | 2023-03-08 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +4 min

Romero hit back at credit rating agencies that have "punished" Pemex by declaring its bonds speculative grade, or junk, which made its borrowing more expensive. He said the agencies were ignoring progress made by current management on boosting production, lowering debt and keeping reserves stable. At the end of January, Pemex issued 10-year bonds worth $2 billion at a 10.375% interest rate on the market to refinance some debt. That production target significantly scales back Lopez Obrador's initial oil ambitions, when in late 2018 at the start of his administration he promised to grow Pemex production to 2.6 million bpd. Pumping more, he said, "will comfortably allow us to meet our country's demand for crude oil and fuels."

☆ Two of Four Americans Kidnapped in Matamoros, Mexico, Found Dead
▼ + stars: | 2023-03-07 | by ( Juan Montes | Anthony Harrup | ) www.wsj.com time to read: 1 min

A scene where gunmen kidnapped four U.S. citizens who crossed into Mexico from Texas. The governor of Mexico’s Tamaulipas state said Tuesday that two of the four U.S. citizens kidnapped in the border city of Matamoros have been found dead and two others alive, one of them injured. Ambulances and security personnel were on their way to the site, Gov. Américo Villarreal said in a telephone call to President Andrés Manuel López Obrador .

☆ Two of four Americans kidnapped in Mexico are alive, two dead
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

[1/3] Mexican authorities search for evidence as they work to locate four Americans who were shot by gunmen and then kidnapped shortly after crossing the border with Brownsville, U.S. Texas, in Matamoros, Mexico March 6, 2023. REUTERS/StringerMEXICO CITY, March 7 (Reuters) - Two of four Americans who went missing on Friday in the Mexican northern border state of Tamaulipas are alive, and two are dead, the state governor said on Tuesday. Separately, a Mexican official told Reuters that two of the men had been found dead. The woman and another man were alive, safe and in the hands of authorities, the official said. The four Americans were in a white minivan when they entered the border city of Matamoros, Tamaulipas, on Friday.

☆ The 4 Americans who were attacked after crossing the Mexican border were traveling to get a tummy tuck procedure, relatives say
▼ + stars: | 2023-03-07 | by ( Chris Panella | Azmi Haroun | ) www.businessinsider.com time to read: +3 min

Two of the four Americans kidnapped in Mexican are dead, while the other two were found alive. Relatives told CNN and ABC News the group traveled for one of them to get a tummy tuck procedure. Tamaulipas Governor Américo Villarreal said the other two Americans were found alive in Tamaulipas, according to Latinus journalist Claudio Ochoa Huerta. Obrador confirmed at a press conference Monday that the group was abducted on March 3 in Matamoros, Tamaulipas, Mexico, near the Rio Grande and southern US border with Brownsville, Texas. It was originally reported by Mexican President Andrés Manuel López Obrador that the group traveled to buy medication.

☆ Tesla could begin producing autos in Mexico next year -Mexican official
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

Companies Tesla Inc FollowMEXICO CITY, March 6 (Reuters) - Tesla Inc (TSLA.O) could begin producing its first cars in Mexico next year, with the electric vehicle maker close to receiving its final permits allowing factory construction to begin in Nuevo Leon near the U.S.-Mexico border, the state's governor said on Monday. Tesla Chief Executive Elon Musk announced the investment last week, saying the Austin, Texas-based company had selected Mexico for its next "gigafactory" with plans to produce a "next gen vehicle." Mexican officials have said the factory will be the world's biggest to produce electric vehicles, with investment worth $5 billion. "The president, by authorizing and backing Tesla, sent a message to the world that they should come to Mexico." Reporting by Daina Beth Solomon in Mexico City Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Two of the four Americans who were shot at by gunmen and kidnapped shortly after crossing the border into northern Mexico last week are dead, according to the governor of Tamaulipas state. McCleod said the group is from South Carolina, and had been traveling in a rental vehicle with North Carolina license plates when they entered Matamoros. The FBI confirmed that the group was traveling in a white minivan with North Carolina plates. Zalandria Brown of Florence, South Carolina, told The Associated Press that her younger brother, Zindell, was among the four victims. She said she had been in contact with the FBI and local officials after learning her sibling had been kidnapped.

☆ Search underway for four Americans kidnapped in Mexico
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, March 6 (Reuters) - Mexican and U.S. authorities said on Monday they were working to locate four Americans who were shot at by gunmen in northern Mexico and then kidnapped shortly after crossing the border. The armed men allegedly fired on the passengers shortly after their vehicle crossed into Mexico and then herded them into another vehicle before fleeing the scene, the embassy said. A Mexican official told Reuters three men and one woman were kidnapped. Mexico's president said the Americans had crossed into Mexico to buy medication. The FBI is offering a $50,000 reward for the return of the four and the arrest of those involved.

☆ Site of Tesla Mexico factory near double size of Texas plant, local official says
▼ + stars: | 2023-03-03 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

Jesus Nava, the mayor of Santa Catarina in the state of Nuevo Leon, said in an interview that Tesla is purchasing the site from private owners. He said the land spans nearly 4,200 acres in an industrial zone, more than double the size of Mexico City's international airport. Tesla's factory in Austin, Texas - one of three existing Tesla vehicle plants - sits on 2,500 acres, according to Tesla's website. Nava said Tesla will reveal what vehicles it will produce at the Nuevo Leon factory when it breaks ground, which it plans to do in three months. Tesla uses recycled water, and such companies typically use minimal liters of water per second, he added.

☆ Tesla plans 6,000 jobs in Mexico and eyes more investment, government says
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

BMW, General Motors and Ford have all recently announced plans to begin or step up EV production in Mexico as automakers transition away from fossil fuels. Tesla Chief Executive Elon Musk is expected to detail his Mexico plans at an Investors Day event on Wednesday at 4 p.m. EST (2100 GMT). "(Musk) is interested in investing more in Mexico," Mexican President Andres Manuel Lopez Obrador said, noting the two had discussed the government's plans to develop the Isthmus of Tehuantepec in southern Mexico when they recently talked. This closeness was very good for them," she told Mexican television. The factory will employ 5,000 to 6,000 people, she added, noting that similar Tesla plants elsewhere employ up to 10,000.

☆ Premarket stocks: Meme stocks have revolutionized investor days
▼ + stars: | 2023-03-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But they’re also bowing to pressure from retail investors to be more transparent. What’s happening: Investor days evolved from analyst days — meetings that large, public companies historically held privately for their core institutional investors and Wall Street analysts. But the recent influx of retail investors into the stock market has changed that. “A lot of these companies know they need to focus on retail investors now,” said Katie Perry, general manager of investor relations at investing platform Public. ▸ Tesla’s first-ever investor day will be live-streamed Wednesday from its Gigafactory in Austin, Texas.

Search resuls for: "López Obrador"

25 mentions found