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☆ Taiwan told to 'pack up and leave' Honduras after ties severed
▼ + stars: | 2023-03-27 | by ( Gustavo Palencia | ) www.reuters.com time to read: +3 min

[1/3] A vehicle leaves the Taiwan Embassy after Honduras has given Taiwan 30 days to vacate its embassy after severing relations with Taiwan in favor of China, in Tegucigalpa, Honduras March 26, 2023. China has long argued that democratically ruled Taiwan is part of its own territory with no right to state-to-state ties, a position Taipei strongly rejects. In his remarks, Garcia said 30 days "is more than enough time to pack up and leave," adding that officials aim for an "orderly, friendly" exit. Taiwan Foreign Ministry spokesman Jeff Liu said 30 days was an "international norm", and that they would comment further later. In its own statement on Monday, the conservative National Party pledged to re-establish ties with Taiwan if it can retake the Honduran presidency in 2026.

☆ Taiwan told to vacate embassy in Honduras after ties severed
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

[1/3] A vehicle leaves the Taiwan Embassy after Honduras has given Taiwan 30 days to vacate its embassy after severing relations with Taiwan in favor of China, in Tegucigalpa, Honduras March 26, 2023. REUTERS/Fredy RodriguezTEGUCIGALPA , March 27 (Reuters) - Taiwan must vacate its embassy in Honduras' capital Tegucigalpa in 30 days, a senior Honduran official said on Monday, after President Xiomara Castro severed diplomatic ties with Taiwan in favor of China in a bid for more assistance from the Asian giant. China claims democratically ruled Taiwan as its own territory with no right to state-to-state ties, a position Taipei strongly rejects. Taipei's embassy in the leafy Palmira neighborhood was for years one of the Central American capital's most prominent foreign outposts, as well as the country's second-biggest embassy after the U.S. embassy. The move left Taiwan with only 13 formal allies, mostly poor and developing countries in Central America, the Caribbean and the Pacific.

Entrepreneur Luke Iseman said the sulfur dioxide in the balloons would deflect sunlight and cool the atmosphere, a controversial climate strategy known as solar geoengineering. The Mexican government told Reuters it is now actively drafting “new regulations and standards” to prohibit solar geoengineering inside the country. While the Mexican government announced its intention to ban solar geoengineering in January, its current actions and plans to discuss geoengineering bans with other countries have not been previously reported. GLOBAL GEOENGINEERING BANClimate policy experts said Mexico is in a position to help set the rules for future geoengineering research. David Keith, a professor of applied physics and public policy at Harvard University who has dedicated much of his research to solar geoengineering, called Iseman's launch a "stunt."

☆ Insiders were stepping up and buying this week at these regional banks and niche financials
▼ + stars: | 2023-03-17 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The banking crisis drove regional bank stocks sharply lower this week, but many insiders took advantage of the turmoil to scoop up shares of their own institutions in what may prove a vote of confidence. Shares of regional banks slumped as the collapse of Silicon Valley Bank left investors worried that other regional banks might face similar balance sheet issues, a possible mismatch between long-dated assets and short-dated liabilities. Regional banks had regained some ground Thursday in anticipation of a group of 11 banks stepping in to First Republic by depositing $30 billion for at least 120 days . Charles Schwab Notably, Charles Schwab CEO Walt Bettinger bought 50,000 shares Tuesday, worth nearly $3 million, for his personal account. Valley National Bancorp Ira Robbins (CEO) bought 5,000 shares Wednesday Jennifer Steans (Director) bought 150,000 shares Tuesday Eric Edelstein (Director) bought 20,000 shares Tuesday Melissa Schultz (Director) bought 15,000 shares Tuesday Jeffrey Wilks (Director) bought 8,000 shares Tuesday Marc Lenner (Director) bought 5,000 shares Tuesday Suresh Sani (Director) bought 5,000 shares Tuesday Valley National Bancorp saw a rush of insider buying this week, including purchases by its CEO and several directors.

[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.

☆ 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.

☆ McDonald’s Directors Beat Sexual Misconduct Oversight Lawsuit
▼ + stars: | 2023-03-01 | by ( Richard Vanderford | ) www.wsj.com time to read: +5 min

The decision throws out shareholders’ claims against nine individuals who sat on McDonald’s board during a period in which sexual misconduct claims at the company drew widespread public scrutiny. After his termination, Mr. Easterbrook was accused of having undisclosed sexual relationships with other employees. McDonald’s ultimately settled a lawsuit against Mr. Easterbrook, clawing back some of his compensation. The shareholders alleged in their lawsuit that Mr. Fairhurst failed to appropriately respond to systemic issues of sexual misconduct at the company, a problem in which he was implicated. But Vice Chancellor Laster said McDonald’s directors “engaged with the problem” and can’t be held liable.

☆ Exclusive: Mexico's Pemex increased gas flaring at top field, despite pledge to stop
▼ + stars: | 2023-02-28 | by ( Stefanie Eschenbacher | ) www.reuters.com time to read: +7 min

[1/3] Gas flare is seen at the state energy company Petroleos Mexicanos (Pemex) Papan plant, in Tierra Blanca, Veracruz state, Mexico February 18, 2023. The pledge to stop burning gas at the Ixachi field came after months of pressure over flaring from the hydrocarbon regulator, environmentalists and Mexico’s most important trade partner, the United States. But Pemex has repeatedly missed gas production targets, blaming it on missing infrastructure. Two senior company sources told Reuters last November Pemex would rather pay fines than deal with gas flaring problems. Pemex's updated business plan for 2023 to 2027, released in December, reiterated promises to reduce emissions but focused more on oil and gas production as well as refining.

☆ Mexico passes electoral overhaul that critics warn weakens democracy
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Feb 22 (Reuters) - Mexican lawmakers on Wednesday approved a controversial overhaul of the body overseeing the country's elections, a move critics warn will weaken democracy ahead of a presidential vote next year. President Andres Manuel Lopez Obrador argues the reorganization will save $150 million a year and reduce the influence of economic interests in politics. The Senate approved the reform, which still needs to be signed into law by Lopez Obrador, 72 to 50. The INE has played an important role in the shift to multi-party democracy since Mexico left federal one-party rule in 2000. Lopez Obrador has repeatedly attacked the electoral agency, saying voter fraud robbed him of victory in the 2006 presidential election.

☆ Mexico president flags water-scarcity of northern state eyed for Tesla plant
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows a part of the urban area in the state of Nuevo Leon, where Tesla could build a new electric car plant, in San Pedro Garza Garcia, Mexico December 19, 2022. "There are favorable conditions in Nuevo Leon. Lopez Obrador said he would emphasize to Tesla the need for careful planning around water, electricity and other services, noting certain northern zones ban water extraction while the southeast holds 70% of Mexico's water. Lopez Obrador has made it a priority to draw investment to southern Mexico, which has lacked the level of industrialization that has flourished along Mexico's northern border. Following Lopez Obrador's remarks on Monday, Nuevo Leon Economy Minister Ivan Rivas said water access had not been an issue for companies or held back investment, according to Mexican outlet Milenio.

Hidalgo, just outside Mexico City, is hundreds of miles from the border yet land and labor costs are lower. The United States and Canada have formally entered a trade dispute over Mexico's energy policy. It remains unclear exactly what Tesla's investment in Mexico will look like and what the company plans to produce in the country. Yet Mexico's capacity for a nearshoring boom has been held back by Lopez Obrador, particularly his energy policies, analysts said. Reporting by Diego Ore and Daina Beth Solomonin Mexico City Additional reporting by Kylie Madry in Mexico City Editing by Stephen Eisenhammer and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla's Musk to hold call with Mexico president, factory announcement imminent -Ebrard
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Feb 17 (Reuters) - Electric vehicle maker Tesla Inc (TSLA.O) will soon confirm it has chosen Mexico as a location for a new plant, and CEO Elon Musk is planning to speak with Mexican President Andres Manuel Lopez Obrador, Mexico's top diplomat said on Friday. He declined to give a time for the phone call or the location for Tesla's Mexico investment. "It will be talked about in the call," said Ebrard, who spoke at an event with Mexican business leaders. Several potential sites have been pitched for Tesla's move to Mexico, with Lopez Obrador saying earlier this month that the states of Nuevo Leon and Hidalgo were leading the race. Reporting by Ana Isabel Martinez in Mexico City Additional reporting by Daina Beth Solomon in Mexico City Writing by Kylie Madry and Stephen Eisenhammer Editing by Brendan O'Boyle and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: After costly bond issue, Mexico's Pemex banks on high oil prices to pay off debt -sources
▼ + stars: | 2023-02-15 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +4 min

The high cost of borrowing forced a recalibration in Pemex and renewed determination to avoid the market, two company sources familiar with the matter said. Pemex has said it must pay back some $8 billion of financial debt this year and $8.7 billion next. But both sources said Pemex was banking on high crude oil prices to maintain the investments for this year as well as meet its financial obligations - without issuing more bonds. Financial debt started ballooning years ago when the oil company took on debt to pay its debts. Pemex declined to reveal the total value of debt payments due and Reuters was unable to independently calculate the figure.

☆ Not told until the runway: freed Nicaraguan prisoner recounts journey to U.S.
▼ + stars: | 2023-02-10 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

"It was at that moment (as the bus turned into the airport) that I realized - we all realized - that we were not going to the Modelo prison, but outside the country," Chamorro told an online news conference. "We were not told until we got to the runway." Ortega has described the release as a push to expel criminal provocateurs who sought to undermine Nicaragua. He added he was not ready to discuss what prison was like inside El Chipote, but said, "No human should be in these conditions." Reporting by Daina Beth Solomon; Editing by Stephen Eisenhammer and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico in talks with top carmakers to make electric vehicles, foreign minister says
▼ + stars: | 2023-02-03 | by ( Stefanie Eschenbacher | ) www.reuters.com time to read: +3 min

MEXICO CITY, Feb 3 (Reuters) - Mexico is gearing up to build several manufacturing hubs for electric vehicles across the country, Foreign Minister Marcelo Ebrard told Reuters, and is in talks with some of the world's top carmakers. Ebrard said in an interview late on Thursday that Mexico was keen to capitalize on the global shift to electric vehicles. "What they are more concerned about is having a guaranteed supply of clean energy, having water, having the personnel they need, facilitate electric power transmission lines," he said. Harald Gottsche, head of the BMW plant in the state of San Luis Potosi, which will produce fully electric cars, said Mexico also needs to push the consumer shift to electric vehicles. In addition to electric vehicles, Ebrard said he was also keen to attract more semiconductor and battery businesses - and build out transport infrastructure in the port of Coatzacoalcos, in the Gulf of Mexico.

☆ A Mexico soccer icon entered politics. Prosecutors say narcos followed
▼ + stars: | 2023-02-03 | by ( Cuernavaca | ) www.reuters.com time to read: +27 min

Regional politicians, officials and military officers gathered in the Morelos state capital of Cuernavaca for breakfast in February 2022 to mark Mexico’s annual Army day. Mexican drug lords have a long tradition of buying off politicians in exchange for government protection of their illicit trade. Attempts to reach two of the alleged drug traffickers in the photo – Figueroa and Irving Solano Vera – were unsuccessful. Prosecutors in April asked the Morelos state congress to impeach Blanco so that he could be stripped of that shield. “He likes me very much because I’m not a politician,” Blanco told Reuters, in reference to the president.

☆ Important for U.S. to build up 'technology ecosystems' in like-minded nations, says think tank
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailImportant for U.S. to build up 'technology ecosystems' in like-minded nations, says think tankStephen Ezell of the Information Technology and Innovation Foundation discusses the technological competition between the United States and China and the role that "friendshoring" can play.

[1/5] Aerial view of the northern border state of Sonora where state electric utility CFE is building the largest solar plant in all of Latin America, in Puerto Penasco, Sonora state, Mexico February 2, 2023. REUTERS/Raquel Cunha/PoolCompanies Alchimie SA FollowPUERTO PENASCO, Mexico, Feb 2 (Reuters) - The first power from a giant solar energy park in the desert of northern Mexico will enter the country's electricity grid in April, officials said on Thursday, as the nation aims to burnish its green credentials with the flagship project. Mexican officials on Thursday, during a tour of the solar park with a group of over 60 foreign diplomats, sought to dampen concerns over Lopez Obrador's commitment to renewables and energy transition. Mexico is looking for partners to help fund the park and the country's broader transition to greener energy sources. Reporting by Stefanie Eschenbacher in Puerto Penasco, Mexico Editing by Stephen Eisenhammer and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

☆ Russia faces new sanctions on its energy exports - but this time China and India may not come to Putin's rescue
▼ + stars: | 2023-01-28 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

The European Union's upcoming ban on Russian oil products could spell more turmoil for the Kremlin. China and India are unlikely to buy refined Russian fuels that were once sold to the EU, which will ban them on February 5. That's in contrast to Russian crude oil, which were snapped up by China and India after Europe shunned those supplies. Russia could refine less fuel but keep oil production stable, resulting in even more crude exports to India and China, Katona said. "China will likely to have to use its own products, reducing refined products exports from China that would have otherwise been available to EU buyers," he said.

☆ Rolls-Royce alarm is justified, if oddly expressed
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 27 (Reuters Breakingviews) - Rolls-Royce's (RR.L) new boss Tufan Erginbilgic has the right sentiments, but arguably the wrong words. Cue a 4% drop in Rolls’ share price. In fairness, the Turkish-British national’s alarm is justified. Rolls is a bit like that: its share price has dropped 70% since 2014. JPMorgan reckons the sum of its parts implies an equity value of only 70 pence a share, 30% below the current share price.

REUTERS/Evelyn HocksteinMEXICO CITY, Jan 27 (Reuters) - Citigroup <C.N> Chief Executive Jane Fraser is planning to meet with Mexican President Andres Manuel Lopez Obrador, a government spokesperson told Reuters on Friday, amid the bank's attempt to finalize the sale of its local unit. A spokesperson for Lopez Obrador, Jesus Ramirez, said he did not have further details on the meeting, and said it was subject to final confirmation. The planned meeting comes as Citi aims to sell its Mexican unit, Banamex, as part of the company's planned withdrawal of its retail services in the country after 20 years, first announced last January. Two bidders, which sources told Reuters were Mexican conglomerate Grupo Mexico and Banca Mifel, are vying for Citi's local unit, Lopez Obrador said in December. Reporting by Kylie Madry and Isabel Woodford; Editing by Stephen Eisenhammer, Cassandra Garrison and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

WILMINGTON, Del., Jan 25 (Reuters) - Shareholders can sue McDonald Corp's (MCD.N) former global chief people officer for the damage they claim he caused to the restaurant chain by allegedly allowing a culture of sexual harassment to flourish, according to a groundbreaking legal ruling. An attorney for shareholders declined to comment and McDonald's did not immediately respond to a request for comment. Shareholders are suing Fairhurst on behalf of McDonald's in what is known as a derivative lawsuit. Fairhurst became the global chief people officer soon after Stephen Easterbrook was named chief executive officer. Reporting by Tom Hals in Wilmington, Delaware; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Mexico's Pemex destroyed resources worth $342 million from two top fields
▼ + stars: | 2023-01-18 | by ( Stefanie Eschenbacher | ) www.reuters.com time to read: +5 min

The three documents, produced by the regulator and dated August 2022, detail how Pemex (PEMX.UL) destroyed resources worth $275 million from the Ixachi field in three years and $67 million from the Quesqui field in two years. There, the documents show Pemex burnt off some 62.9 billion cubic feet of gas and 310,000 barrels of condensate. MISSING INFRASTRUCTUREPemex produced 201.2 billion cubic feet of gas and 24.3 million barrels of condensate from Ixachi. The documents also show that 77.6% of the investment into the field Pemex had pledged in its development plan - totaling $2.9 billion - were not made. The fields were meant to receive more resources so Pemex can start exploration and production earlier and faster and make up for declining production from ageing fields elsewhere.

☆ McDonald’s ex-CEO fine: not a nothing burger
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Jan 10 (Reuters Breakingviews) - McDonald’s (MCD.N) ex-boss is in the frying pan. The $196 billion Big Mac purveyor sued and successfully clawed back Easterbrook’s bounty of over $100 million in compensation. The SEC’s order also dings McDonald’s for not better clarifying why he was dismissed without cause. The slap against McDonald’s suggests the company also was not being forthcoming. Still, Easterbrook’s $400,000 fine adds to his pain, and he is also barred from serving as a public officer or director for five years.

☆ U.S. SEC charges McDonald's ex-CEO for misrepresentations to investors
▼ + stars: | 2023-01-09 | by ( Chris Prentice | ) www.reuters.com time to read: +2 min

[1/2] Steve Easterbrook, CEO of McDonald's Corp., attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 10, 2019. REUTERS/Brendan McDermidNEW YORK, Jan 9 (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Monday charged former McDonald's Corp Chief Executive Stephen Easterbrook with making false and misleading statements to investors about the circumstances of his 2019 termination. The SEC hit Easterbrook with a five-year officer and director bar and a $400,000 civil penalty. McDonald's fired Easterbrook in November 2019 for exercising "poor judgment" by engaging in a relationship with a McDonald's employee, the SEC said. McDonald's said in a statement that the settlement reinforced the fact it held Easterbrook "accountable for his misconduct."

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