ADR Report-ADRs slip before US jobs data, Mexico weighs
U.S.-traded shares of overseas companies slipped on Thursday as caution ahead of U.S. payrolls data overshadowed a burst of mergers and acquisitions, including Royal Caribbean Cruises (RCL.N: Quote, Profile, Research) deal to buy Spains biggest cruise and tour operator.
Worries that Mexican President Vicente Foxs last state of the nation speech on Friday may be a flashpoint for protests over a disputed election result also kept investors on edge.
Shares of Mexican-based companies such as cellphone company America Movil (AMX.N: Quote, Profile, Research) were under pressure.
The Bank of New Yorks index of leading ADRs < .BKADR> dropped 0.35 percent to 150.91 at a time when the 30-share Dow Jones industrial average < .DJI> was unchanged.
More : today.reuters.com
Illegal migrants had jobs back in Mexico, survey finds
Most illegal immigrants from Mexico had jobs there before they entered the United States, according to a report released Tuesday.
That conclusion undercuts a long-held explanation for illegal immigration: that people can't find work at home. Instead, illegal Mexican immigrants are driven here by a complex assortment of factors, including higher wages, better working conditions and a chance to reunite with growing networks of families who settled in the United States before them, according to researchers with the Pew Hispanic Center in Washington.
"Lack of work does not appear to be the main
Jobs could solve some Mexico woes
Of all the ways to curb unauthorized human traffic across the USAs southern border, theres one remedy that few people are even discussing: creating more jobs in Mexico.
The Mexican economy in 2006 is expected to post its third-consecutive year of better than 3% growth, but the jobs picture isnt as bright. Each year, about 1 million Mexicans enter the labor pool. But the economy creates only a sliver of the new jobs needed for them.
It doesnt require a degree in economics to understand that if there were more well-paid jobs in Mexico, fewer Mexicans would
Most migrants had jobs in Mexico, survey finds
A new survey of migrant Mexicans shatters the myth they are largely unemployed farmworkers who struggle to pick up jobs on street corners.
Only 5 percent of the most recent migrants were unemployed before they crossed the border, and only an equal percentage remained unemployed within six months of crossing, the survey found.
Newer migrants were just as likely to have worked in construction zones and hotels than in the fields, the survey found.
The findings released today by the Pew Hispanic Center based on questionnaires in Spanish filled out by 4,836 persons
Mexico Lacks 5 Million Jobs
Lack of employments in Vicente Fox administration increased to more than 5,5 million jobs, while 2/3 of the population do not have social secures.
Researches made in Labor University of Mexico (UOM), shows that policies used during Fox administration generated economical and social lateness.
According to information provided from (UOM), Minimum wages, which in 1976 obtained its greatest level with 53,5 pesos daily (six dollars), decreased to the point of 11,1 pesos, meaning a lost of 79 percent.
More : plenglish.com
Mexico stocks slip after 5-day winning streak
Mexican stocks fell over 1 percent on Tuesday after a five-day winning streak in a sell-off led by cement maker Cemex and cellular phone giant America Movil as investors moved to the sidelines ahead of a U.S. Federal Reserve meeting later this week.
The IPC stock index < .MXX> lost 249 points to 21,416 points and the peso weakened 0.30 percent to 10.95 to the dollar.
Stock prices had taken heart in recent sessions from reports showing tame U.S. inflation, leading investors to bet the Federal Reserve will hold interest rates steady at its monetary
Strong 6.7 magnitude earthquake occurs off Mexico's Baja California coast
A strong 6.7-magnitude earthquake occurred in the pre-dawn hours off the coast of the Baja California peninsula in the Sea of Cortes, also known as the Gulf of California, the U.S. Geological Survey's National Earthquake Center in Golden, Colorado reported.
The quake occurred about 2:32 a.m. local time (0832 GMT), and was centered about 56 miles (89 kilometers) northeast of Santa Rosalia, Baja California. The quake occurred at an estimated depth of six miles (10 kilometers), the center reported.
The area is sparsely populated, and there were no immediate reports of damage
Mexico 'dirty war' crimes alleged
The Mexican government and military committed "crimes against humanity" in the so-called "dirty war" against left-wing rebels, a leaked report says.
The report was prepared for current President Vicente Fox but has not been released. A US NGO has printed material saying Mexicans had a right to know.
The army kidnapped, tortured and killed hundreds of rebel suspects, says the report, which covers 1964 to 1982.
Mexico's special prosecutor says the report is biased and has been revised.
More: news.bbc.co.uk
Mexico's Bolsa Falls on Interest Rates Concern: Latin Stocks
Mexico's benchmark stock index fell for a third day after an employment report from Washington spurred concern higher rates will slow the economy in the U.S., the biggest market for Mexican exports.
The Mexican Bolsa fell 186.60, or 1.3 percent, to 14,425.62 as of 2:51 p.m. New York time, reducing the gain in the week to 0.1 percent. Elsewhere in the region, Brazil's Bovespa was little changed, falling 26.54, or 0.1 percent, to 26,443.36.
Employers in the U.S. added 207,000 workers in July, the Labor Department said, exceeding the median economist estimate
Mexico says drug trafficking DVD won't cost federal investigators their jobs
Mexico's top anti-drug prosecutor will not lose his job despite doubts about whether federal agents were involved in the videotaped beating and torture of four drug hit men, a government spokesman said Monday.
Ruben Aguilar, chief spokesman for President Vicente Fox, said that no federal investigator was in danger of being fired in the wake of the recording, which has sent shock waves through Mexico's anti-narcotics efforts.
"It doesn't put anyone at risk" of losing their jobs, Aguilar said during his daily briefing with reporters.
But he refused to comment
(BW) TGS Announces New Gulf of Mexico Multi-Client 3D Survey -- Eastern Delta
TGS-NOPEC Geophysical Company (TGS) announced today that it will acquire a new multi-client 3D seismic survey in the Main Pass and Viosca Knoll areas of the Gulf of Mexico. The company has contracted Reservoir Exploration Technology AS (RXT) to perform the acquisition of the 1800 square kilometer survey utilizing a Vector-Seis Ocean Bottom Cable recording system. TGS Imaging will process the data with both pre-stack time and pre-stack depth migration algorithms.
The Main Pass/ Viosca Knoll area is a very mature hydrocarbon producing region and the TGS Eastern Delta
