Mexican national sentenced to 12 years for meth distribution

General Sources - Friday 24th May, 2013

Nelson Fernando Garcia-Soto, 39, was sentenced Friday to 148 months in prison for possession and intent to distribute over 50 grams of methamphetamine, U.S. Attorney Wendy J. Olson announced. Garcia was a Mexican national living in Boise until his arrest in 2011. In addition, Chief U.S. District Judge B. Lynn Winmill ordered Garcia to serve five years of supervised probation. According to ...

Broader Mexican eInvoicing Mandate Looms Potential to Affect a Half-Million Companies

General Sources - Friday 24th May, 2013

Atlanta, GA, May 24, 2013 (GLOBE NEWSWIRE) -- With Mexico's Servicio de Administracion Tributaria (SAT) expected to announce - perhaps in the next weeks - expansion of an electronic invoicing mandate, companies need to begin planning for transition now to avoid non-compliance and costly fines, says Scott Lewin, CEO of Invoiceware International, a leading Latin American eInvoicing ...

Tijuana cartel leader pleads guilty

General Sources - Friday 24th May, 2013

SAN DIEGO — One of four brothers who ran Tijuana’s notorious Arellano Felix drug cartel for nearly 20 years pleaded guilty in San Diego Friday to federal charges of conspiracy to launder money and conspiracy to invest illicit drug proceeds. Eduardo Arellano Felix, 56, faces a maximum of 15 years in prison when he is sentenced Aug. 19. U.S. District Court Judge Larry Burns told the ...

RPT-Mexicos current account deficit narrows in Q1

Reuters - Friday 24th May, 2013

MEXICO CITY May 24 (Reuters) - Mexico's current account deficit notched $5.53 billion in the first quarter, the central bank said on Friday, narrowing from the fourth quarter of last ...

Mexican homebuilder Urbi seeks to reduce impact of payment freeze

Reuters - Friday 24th May, 2013

MONTERREY, Mexico | Fri May 24, 2013 1:51pm EDT MONTERREY, Mexico May 24 (Reuters) - Troubled Mexican homebuilder Urbi, struggling with flagging sales and a heavy debt load, said it is looking to minimize the impact of a suspension in payments from state mortgage-lenders to Urbi and two other homebuilders. Two state mortgage-lenders, Infonavit and Fovissste, on Thursday stopped payments ...

Fitch Rates Famsas Usd$250mm Notes B+rr4

Reuters - Friday 24th May, 2013

(The following statement was released by the rating agency) MONTERREY/NEW YORK, May 24 (Fitch) Fitch Ratings assigns a 'B+/RR4' rating to the 7.25% USD250 million notes, due 2020, issued by Grupo Famsa, S.A.B. de C.V. (FAMSA). Fitch currently ...

RCO prices first Mexico toll-road bond since 2006

Reuters - Friday 24th May, 2013

By Paul Kilby Fri May 24, 2013 12:31pm EDT NEW YORK, May 24 (IFR) - Red de Carreteras de Occidente (RCO) has put to bed a rare international toll-road bond out of Mexico, playing its role in developing a new asset class for corporate peso bonds distributed to both foreigners and locals and creating more complex project structures. RCO's Ps7.5bn 15-year amortiser is thought to be the first ...

UPDATE 1-Investors trim flows into Mexico in first quarter

Reuters - Friday 24th May, 2013

MEXICO CITY, May 24 (Reuters) - Foreign investors nearly halved their investment in Mexican stocks and bonds in the first quarter compared to the same period last year, central bank data showed on Friday, scaling back from record heights. ...

Mexican peso falls to lowest level since mid-March

Reuters - Friday 24th May, 2013

MEXICO CITY, May 24 (Reuters) - Mexico's peso fell sharply on Friday to its lowest level since mid-March. The peso dropped 1.28 percent to trade at 12.549 pesos per ...

EMERGING MARKETS-Latam FX drops as data adds to fear of Fed ...

Reuters - Friday 24th May, 2013

RIO DE JANEIRO, May 24 (Reuters) - Latin American currencies fell on Friday as strong U.S. manufacturing data added to fears of a possible tapering of U.S. stimulus, which provide a steady source of dollars seeking higher returns in emerging ...

Fitch Affirms Digicels Ratings Outlook Stable

Reuters - Friday 24th May, 2013

(The following statement was released by the rating agency) MONTERREY/NEW YORK, May 24 (Fitch) Fitch Ratings has affirmed the ratings of Digicel Group Limited (DGL) and its subsidiaries Digicel Limited (DL) and Digicel International Finance ...

EMERGING MARKETS-Brazil stocks flat as OGX offsets Vale

Reuters - Friday 24th May, 2013

* Concerns over Chinese economic growth, Fed stimulus weigh * Brazil Bovespa little changed, Mexico IPC falls 0.65 pct By Asher Levine SAO PAULO, May 24 (Reuters) - Brazilian stocks were little changed on Friday as concerns over weak economic growth in China weighed on shares of mining firm Vale, offsetting a gain in oil producer OGX. Mexico's IPC index edged towards its lowest closing level ...

RPT-Fitch Affirms OHL BB- Outlook Stable

Reuters - Friday 24th May, 2013

Fitch Ratings has affirmed Obrascon Huarte Lain's (OHL) Long-term Issuer Default (IDR) and senior unsecured ratings at 'BB-'. The Short-term IDR is affirmed at 'B' and Outlook ...

Mexican stocks fall more than 1 percent on Fed worries

Reuters - Friday 24th May, 2013

MEXICO CITY | Fri May 24, 2013 10:07am EDT MEXICO CITY May 24 (Reuters) - Mexico's IPC stock index fell more than 1 percent on Friday on continued worries about a winding down of the U.S. Federal Reserve Bank's bond-buying program. The index fell 1.05 percent to 40,091.41 points, with telecoms giant America Movil and bottler Femsa ...

KIM Vends Mexican Assets Again

General Sources - Friday 24th May, 2013

Kimco Realty Corp. ( ) and its joint venture partner - American Industries - decided to vend its interests in several trusts that hold Mexican industrial properties portfolio. The move is part of Kimco's attempts to divest its non-core Mexican assets, in order to strengthen its overall portfolio. The deal value was about $600 million, which comprises $294 million worth beneficial trusts and ...

UPDATE 1-HSBC Chairman urges acceleration of bank reform

Reuters - Friday 24th May, 2013

Fri May 24, 2013 9:04am EDT * Chairman says investor confidence could be undermined * Bank criticised for anti-money laundering failings * Bank also slammed for aiding tax avoidance * 89 percent of shareholders back 2012 pay plan By Steve Slater and Matt Scuffham LONDON, May 24 (Reuters) - HSBC's Chairman Douglas Flint called for an acceleration in the speed of reform within the industry ...

Kingsman cuts 201314 global sugar surplus forecast by 27 pct

Reuters - Friday 24th May, 2013

* Global output at 177.015 mln T in 13/14, vs 181.030 mln in 12/13 * Low sugar prices to prompt producers in Brazil to make ethanol * Kingsman sees ethanol parity at 16.50-18 U.S. cents/lb * Global consumption seen up, strong demand in Asia, ...

Mexican restaurant coming to Merrill

General Sources - Friday 24th May, 2013

MERRILL — A Mexican restaurant with several central Wisconsin locations will be opening a new location in Merrill. El Mezcal, an authentic Mexican restaurant, will be located in between the Pine Ridge Mobil and AmericInn Lodge and Suites on Highway 64 on ...

UPDATE 1-Academics back BPs fight to cap oil spill payouts

Reuters - Friday 24th May, 2013

* Claims, payout rate may mean charge against 2014 profit * Accountancy professors represented by top lawyer * Appeal hearing set for July 8 By Andrew Callus LONDON, May 24 (Reuters) - A group of accountancy professors is backing BP's fight to ...

Zac Lee Rigg Ronaldinho wore sneakers not cleats against Club Tijuana

General Sources - Friday 24th May, 2013

TIJUANA -- Ronaldinho wore sneakers on the Estadio Caliente turf. But it was Club Tijuana that slipped up, coughing up two late goals to draw 2-2 in the Copa Libertadores quarterfinal first leg. The Xolos hadn't conceded at home in the Copa Lib until the second half against Atletico Mineiro. By that point, the Mexican side was two goals ahead with ruthlessly quick wingers Duvier Riascos and ...

Club Tijuana 2 Atletico Mineiro 2 | Copa Libertadores Match Recap

General Sources - Friday 24th May, 2013

Joe Corona and Club Tijuana will go to Brazil next week with everything to play still to play for in their historic Copa Libertadores campaign, although it’ll be an uphill battle. Xolos were 2-0 up against Ronaldinho’s Atletico Mineiro in the quarterfinal first leg in the Estadio Caliente on Thursday, but a late equalizer for the Brazilian side snatched the victory from Club ...

One Small Towns Fight to Banish a Brutal Mexican Cartel

Wired News - Friday 24th May, 2013

Chern, a small mountain town in the Mexican state of Michoachan, in middle of the Mexican forest, saw its citizens organize in 2011 and overthrew the corrupt local government and police force. The citizens of the pueblo (town or community,) set up their own government system and police force in an attempt to drive organized crime out of their community and forest after years of extortion and ...