World's Richest Moms

Dear friends and colleagues,

Welcome to the May edition of my newsletter featuring selected articles on finance, business, and global economy. I hope you will find it useful. Feel free to contact me at any time would you need any additional information.

With very best regards,
Armando Nuricumbo


IN FOCUS

World's Richest Moms
Only 70 mothers in the world have billion-dollar fortunes, and just 7 of these, including Meg Whitman and J.K. Rowling, built their own.
http://www.forbes.com/2010/05/04/richest-moms-billionaire-whitman-rowling-walton-bettencourt.html?boxes=HomepageSpecialStorySection


FINANCE AND ACCOUNTING

What Is the Auditor's Role in Finding Fraud?
Whenever an accounting deception is uncovered, one of the first questions investors ask is "Where were the auditors?"
http://www.cfo.com/article.cfm/14490470?f=most_read

Five Ways to Convince Your CFO that Sustainability Pays
CFOs haven't been at the center of the corporate sustainability movement, although sustainability is a strategic imperative.
http://www.greenbiz.com/blog/2010/04/13/five-ways-convince-your-cfo-sustainability-pays?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Greenbuzz+%28GreenBiz+Feed%29#ixzz0l4ukWvx6

Efficiently Maintain SOX Compliance
Many in the private sector continue to deploy SOX-related policies and procedures as best practices.
http://www.webcpa.com/news/Efficiently-Maintain-SOX-Compliance-53865-1.html?zkPrintable=true

Lehman's situation makes the case for accounting convergence
Lehman Bros. used an accounting strategy to bolster its balance sheet that would not have been acceptable under global accounting rules.
http://uk.reuters.com/article/idUKTRE63S2EZ20100429


GLOBAL ECONOMY

Roubini: "Greece is just the tip of the iceberg"
Higher inflation and rising government defaults can be expected as the U.S. increases sovereign debt levels to Japan and Greece.
http://www.businessweek.com/news/2010-04-28/roubini-says-rising-debt-leads-to-inflation-defaults-update1-.html

Disjointed reforms ‘will fail to stop financial crises’
In its Global Financial Stability Report, the IMF said plans to set up systemic risk watchdogs will not prevent another financial crisis.
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article7096682.ece

IMF sees faster recovery, boosts 2010 global economic forecast
The IMF predicted that the global economy will grow 4.2% this year, a slight boost from its January forecast.
http://www.economist.com/blogs/freeexchange/2010/04/global_recovery


MEXICO AND LATIN AMERICA

Narcos, No’s and Nafta
Mexico is not Afghanistan, but it also has not become all that it hoped to be by now. Something feels stalled here.
http://www.nytimes.com/2010/05/02/opinion/02friedman.html?hp

World's Richest Man Speaks
Carlos Slim thinks Latin America is poised for growth. That will be good for the poor--and for him.
http://www.forbes.com/2010/03/11/carlos-slim-helu-business-billionaires-slim.html

Brazil criticizes US immigration law
Along with other countries, Brazil has also voiced sharp criticism of the controversial immigration law in the US state of Arizona.
http://news.smh.com.au/breaking-news-world/brazil-criticises-us-immigration-law-20100505-u7n7.html


OTHER

The Surprising Strengths of The Middle-Aged Brain
Although sometimes forgetful and easily distracted, our brain also gets better with time at seeing big picture and comprehending complexity.
http://www.npr.org/templates/story/story.php?storyId=125902095&sc=nl&cc=es-20100425



KEY MEXICO STATISTICS
Apr-10 / Mar-10 / Feb-10

Exchange Rate: MXN to USD
12.2336 / 12.5939 / 12.9547
Exchange Rate: MXN to EUR
16.3277 / 16.6155 / 17.3587
Exchange Rate: MXN to CAD
12.0890 / 12.1124 / 12.1227
Country Risk (basis points)
148 / 116 / 167
Bolsa (IPC BMV)
32,687 / 33,266 / 31,634
Cetes 28d
4.60% / 4.46% / 4.55%
Inflation (INPC, annual variation)
4.97% / 5.06% / 4.76%
UDIs
4.455126 / 4.439870 / 4.410955
International Reserves (Millions USD)
97,328 / 94,918 / 93,750
(Source: Mexico Central Bank)


OPPORTUNITIES

¿Eres exalumno de la Facultad de Contaduría de la UNAM?
¿O conoces a alguno? Únete a la Red de Egresados de la FCA UNAM. Te invitamos a nuestro grupo en Facebook. SEFCA UNAM.
http://www.facebook.com/group.php?gid=109041185781920

XVII Congreso del Comercio Exterior Mexicano
Comercio Exterior como Impulso para la Recuperación Económica, los días 2,3, y 4 de junio de 2010, en Mérida, Yucatán.
http://congreso.comce.org.mx/

Properties for sale in the state of Chiapas, Mexico
Excellent investment opportunities. One ranch of 90 hectares and a warehouse in the city of Tonala. Public deeds current. Sold by owner.
http://www.nuricumbo.com/files/Investment_Opportunity_in_Chiapas.pdf