UPDATE 2-Mexico industrial output rises in November, consumer confidence up at year-end

(Recasts first paragraph, adds consumer confidence data) MEXICO CITY, Jan 10 (Reuters) – Mexico’s industrial output rose for the first time in three months and consumer confidence inched higher, official data showed on Friday, offering hints of growth as Mexico struggles to stave off a recession. Industrial activity grew 0.8% last November from the prior month in seasonally adjusted terms, […]

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Agreement reached by U.S., Canada and Mexico – again – to replace NAFTA

WASHINGTON/MEXICO CITY (Reuters) – Canada, Mexico and the United States have agreed to a fresh overhaul of their quarter-century-old regional trade pact after negotiators approved changes to a preliminary deal struck last year, and officials will sign the new agreement on Tuesday. The deal, which still needs the approval of lawmakers in all three countries, adds more stringent oversight of […]

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UPDATE 1-IMF says it will remain 'strong partner' of Mexico

(Adds comments from Mexico’s Finance Minister, background) MEXICO CITY, Oct 20 (Reuters) – The International Monetary Fund will remain a “strong partner” of Mexico, the organization’s managing director, Kristalina Georgieva, said on Sunday following a meeting with the heads of the Mexican Finance Ministry and central bank. “The Fund will continue to be a strong partner as Mexico seeks to […]

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Trump Hits Out At GM For Auto Plants In China

U.S. President Donald Trump has criticized automaker General Motors for shifting its auto production to China despite getting a federal bailout and its shrinking workforce in the U.S. “General Motors, which was once the Giant of Detroit, is now one of the smallest auto manufacturers there. They moved major plants to China, BEFORE I CAME INTO OFFICE. This was done […]

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Mexico Cuts Rate for First Time in 5 Years as Economy Staggers

In this article Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here.  Mexico’s central bank reduced borrowing costs for the first time in five years after inflation slowed, the economy faltered and the U.S. cut its own rate. The peso weakened before paring declines to post gains. Led by Governor Alejandro […]

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Pemex business plan does not change negative outlook: Moody's analyst

MEXICO CITY (Reuters) – Pemex has failed to convince ratings agency Moody’s Investor Services with its newly unveiled business plan, an analyst for the Mexican state oil company said on Wednesday, adding that the risk for a downgrade persists. Pemex, the world’s most heavily indebted oil company, is on the verge of losing its investment grade rating after Fitch downgraded […]

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