Mexico Financial News

companies that make air-conditioners. Leading firms such as PG Electroplast and Epack Durable reported more than 70% year-on-year growth in the June quarter. These companies design and make air-conditioners for famous brands such as Voltas, Blue Star and Samsung, apart from washing machines and electronic appliances.

Coca-Cola has been a mainstay of many rituals for many years, particularly in indigenous communities. As the world's most devoted soft drink consumers, people in Mexico think the beverage uplifts people's spirits and aids in healing. Some people even think it can help resolve domestic strife. Doctors have warned of a catastrophic health crisis facing a state in Mexico that consumes more coke than any other place in the world. In Chiapas, finding a bottle of Coke is considerably simpler than finding a bottle of water, and the price is the same. The town's population is gradually dying from Coca-Cola addiction. The main town of Chiapas, San Cristobal de las Casas, has a high prevalence of Type 2 diabetes, six-month-old babies drink coke instead of milk, and some residents offer prayers to empty bottles on shrines. Also Read: Did Taylor Swift endorse Donald Trump? Is it AI-generated?

India to Ukraine, Ravi Shankar presented his letter of credence to Ukraine's President Volodymyr Zelenskyy at the Presidential Palace in Kyiv. The other envoys who also presented their credentials to Zelenskyy were Ambassadors of Mexico, Italy, Slovakia, the Netherlands, and Belgium, who along with Shankar, will begin their diplomatic missions in Ukraine. Sharing a post on X Friday, Zelenskyy wrote, «Today, the newly appointed Ambassadors of Mexico, Italy, Slovakia, the Netherlands, India, and Belgium begin their diplomatic missions in Ukraine.»

Starbucks shares rose 24% this week on news that it was replacing Laxman Narasimhan with Chipotle Mexican Grill's head, Brian Niccol, as CEO. The Chipotle stock was down 7.5% on the announcement of Niccol's departure. Niccol's appointment works out to a combined market cap impact of $27 bn, with Starbucks gaining $21.4 bn and Chipotle losing $5.7 bn.

The pyramid, which was built 1000 years ago, is located in Michoacan state. The pyramid has rich history of being part of a seat of power in Ihuatzio, Fox Weather reported quoting Mexico's National Institute of Anthropology and History. This summer’s intense heat and prolonged drought unleashed a series of misfortunes upon the ancient pyramid, as scorching temperatures and arid conditions conspired to fracture its once-imposing facade. The relentless sun cracked the stone, and when the long-awaited rain finally arrived, it seeped into these vulnerable crevices, exacerbating the damage and undermining the pyramid's stability.

Canada Jetlines Ltd. has grounded all flights, temporarily ceasing operations amid a financial crisis at the carrier.

India «over the next several weeks.» The search giant launched AI Overviews in Search in May, starting with the US, to help people quickly discover information on the web. «After extensive testing and positive feedback, including in the US and Search Labs globally, we’re bringing the helpfulness of AI Overviews to six new countries: India, United Kingdom, Japan, Indonesia, Mexico and Brazil – along with local language support in each country,» Hema Budaraju, senior director, product management, Search said in a blog post. In India, Google said it will be rolling out AI Overviews in English and Hindi. It will also introduce popular India-first features that were well-received during the company's Search Labs experiment. This includes helping a user easily switch between English and Hindi results with the language toggle button, and listen to responses with Text-To-Speech by tapping the 'Listen' button.

Walmart, which owns local ecommerce firm Flipkart, said its international business growth was driven by Flipkart, China, and Walmex, without disclosing specific contributions. The Bentonville-based retailer also said in its second-quarter earnings for FY25 that its advertising business grew 23%, led by Flipkart and Walmex. Walmart recorded nearly $30 billion in net sales from international markets–a growth of 8.3% on year. Walmart also reported an operating income of $1.4 billion for the quarter under review. “Operating income growth led by Flipkart, China, and Walmex…. benefited from lower losses in ecommerce across markets..,” a presentation from the Flipkart owner showed on Thursday.

Starbucks reportedly fired Indian-origin Laxman Narasimhan from the position of Chief Executive Officer, a recent interview of him saying he 'almost never' worked past 6 pm has been making rounds on various social media platforms. «I am very disciplined about balance. If there's anything after 6 pm and I am in town, it's got to be a pretty high bar to keep me away from the family. Anybody who gets a minute of time after that better be sure that it's important… Because if not it will just wait for another day,» Narasimhan said in an interivew to Fortune. Starbucks on Tuesday announced that Chipotle Mexican Grill's head, Brian Niccol, will replace Chairman and Chief Executive Officer Laxman Narasimhan.

Brian Niccol, the chairman of Chipotle Mexican Grill, has been appointed as the new CEO of Starbucks as of August 13, 2024. Niccol will conclude his tenure as CEO of Chipotle on August 31, 2024. Howard Schultz, the former CEO of Starbucks, expressed his support for Niccol’s appointment, stating that Niccol has his “respect and full support.” Laxman Narasimhan, the outgoing CEO of Starbucks, will be leaving both his position and the Starbucks board after joining the company in 2023. During Narasimhan's time, Starbucks experienced a 3 percent decline in global sales at stores open for at least a year, according to a CNN report. In contrast, Chipotle saw an 800 percent revenue growth while under Niccol's leadership, as highlighted by the same report.

CULIACÁN, Mexico—In this steamy city that is home to the world’s largest fentanyl smuggling organization, the stunning capture of Sinaloa cartel patriarch Ismael “El Mayo" Zambada risks sparking a bloodbath that is likely to reverberate on the streets of the U.S. The once powerful Zambada said he was betrayed by the son of his longtime associate Joaquín “El Chapo" Guzmán. Now, many fear an open war between the two first families of the Sinaloa cartel.

Citigroup is taking a significant step to pare down its wealth management division with a plan to sell off its trust administration and fiduciary services business.

Bank of Nova Scotia agreed to buy a minority stake in KeyCorp, which was among the U.S. regional banks hit hardest in last year’s tumult, for about US$2.8 billion as part of a focus on North America.

China as both a competitor and an adversary, Republican vice presidential nominee Senator J D Vance said on Sunday that his party wants to establish a robust international framework where the US can «check» Beijing. «I think they're both, right, and I think that what we want to do here is build the kind of international order where we can check China,» Vance told CBS in an interview when asked if he views Beijing as a competitor or an adversary. «We don't want to go to war with China, but certainly they're an adversary...for example, the Chinese know that they're manufacturing tons of fentanyl, they're letting them come into our country. (Vice president and Democratic presidential candidate) Kamala Harris has done nothing about this,» Vance said in «Face the Nation» programme. He said Harris should apply diplomatic and economic leverage on the Chinese to stop manufacturing fentanyl, which is smuggled into the Mexican drug cartels and subsequently shipped into the US.

Analysts are expressing shock at a decision by Mexico’s central bank to cut interest rates on the same day that official figures showed a sharp rise in domestic inflation

Mexican drug lord Ismael “El Mayo” Zambada has said that he was ambushed and kidnapped when he thought he was going to meet the governor of the northern state of Sinaloa

Federal food safety officials say three people have now died in a listeria food poisoning outbreak linked to Boar’s Head deli meats

United Nations court on Wednesday to join South Africa's genocide lawsuit against Israel, a Turkish official said. The declaration of intervention will be submitted at the International Court of Justice in The Hague, the official said on condition of anonymity in accordance with regulations. Turkiye, one of the fiercest critics of Israel's actions in Gaza, will become the latest nation to seek to participate in the case. Turkish President Recep Tayyip Erdogan has frequently compared Israeli Prime Minister Benjamin Netanyahu to Adolf Hitler, accused his country of genocide, called for it to be punished in international courts and criticised Western nations for backing Israel.

Ajay Bagga, Market Expert, says Prepare for the worst scenario, do not panic, that is the mantra. I do not think the worst is happening. Re-look at your asset allocation. Do not sell. There is no need to sell India in a scenario like this. Bagga says he has invested in the entire market and bought the indices. There will be a rotation out of sectors and into sectors. He knows the India story and so he bought the 500 indices, and smallcap and midcaps despite the 4% cuts. Bagga also says that this is not 2000, this is still not 2008, there is no contagion yet even though markets across the world are falling but it is not carried positions and contagion that is causing it. Are the markets reacting to yesterday's story or not? After a sell-off of this magnitude, concerns remain over what is happening in global markets and you wonder how insulated India is going to be. What is your view? Ajay Bagga: Definitely, the sentiment has turned quite negative and volatility has increased a lot.

Kaiju No. 8 Season 2 is set to release in 2025. This news came from a teaser during Kaiju Day 2024. Here is everything we know about the upcoming season.

Max released a teaser for 'The Gilded Age' Season 3, showcasing Carrie Coon's return as Bertha Russell. The brief footage hints at romance and wealth in the upcoming season.