Newsletter January 2014

Dear friends and colleagues,

Please receive our summary of business articles for this month.

With very best regards,

Armando Nuricumbo, CPA

I invite you to follow me on Facebook

IN FOCUS

Intel announces it will no longer use "Conflict Minerals" in its Microprocessors

http://news.nationalgeographic.com/news/2014/01/140109-conflict-minerals-intel-marcus-bleasdale-congo/

Calm Broken in Markets amid Concern of Emerging Contagion

http://www.bloomberg.com/news/2014-01-30/calm-broken-in-global-markets-amid-concern-of-emerging-contagion.html

Euro-Area Economic Confidence Increases for Ninth Month

http://www.bloomberg.com/news/2014-01-30/euro-area-economic-confidence-increases-for-ninth-month.html

Europe’s Investment Bankers Mark Worst January in Decade

http://www.bloomberg.com/news/2014-02-05/europe-s-investment-bankers-mark-worst-january-in-decade.html

IMF: Governments still Unprepared for Major Bank Failure 

http://www.reuters.com/article/2014/01/23/us-imf-banks-warning-idUSBREA0M1KF20140123

GLOBAL ECONOMY

Cutting-edge Molding line to boost Efficiency at the Singen Foundry

http://www.georgfischer.com/content/gf/com/en/news/mediareleases/mediarelease/media-releases-2013/cutting-edge-mouldinglinetoboostefficiencyatthesingenfoundry.html

Emerging-market sell-off Signals deeper Problems

http://www.reuters.com/article/2014/01/26/us-davos-mood-analysis-idUSBREA0P0AZ20140126

Janet Yellen takes over as Head of Federal Reserve 

http://www.cnbc.com/id/101384808

Deficit to fall to $514 Billion, U.S. Budget Agency Says

http://www.bloomberg.com/news/2014-02-04/deficit-to-fall-to-514-billion-u-s-budget-agency-says.html

U.S. Trade Relationships need an 'Upgrade': Pritzker

http://www.reuters.com/article/2014/02/05/us-usa-trade-idUSBREA1401220140205

FINANCE AND ACCOUNTING

Basel Committee's Leverage relief won't Help Big U.S. Banks 

http://www.bloomberg.com/news/2014-01-26/u-s-banks-facing-capital-hole-get-no-leverage-relief-from-basel.html

SEC makes Good on its Word to Pursue Accounting Fraud 

http://www.accountingtoday.com/news/SEC-Revs-Accounting-Financial-Fraud-Enforcement-69488-1.html

BITCOIN: How it works, and why it could one day threaten Tools like Credit Cards

http://www.businessinsider.com/why-bitcoin-has-the-potential-to-blow-the-legacy-payments-system-out-of-the-water-2014-1?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Business%20Insider%20Select&utm_campaign=BI%20Select%20Mondays%202014-02-03&utm_content=emailshare

Less Microsoft Is More as Investors Eye Breakup: Real M&A

http://www.bloomberg.com/news/2014-02-04/less-microsoft-is-more-as-investors-eye-breakup-real-m-a.html

Goldman to Fidelity Call for Calm after Global Stock Wipeout

http://www.bloomberg.com/news/2014-02-04/goldman-to-fidelity-call-for-calm-after-global-stock-wipeout.html

MEXICO AND LATIN AMERICA

México, Canadá y EU relanzarán su Relación Comercial

http://www.eluniversal.com.mx/nacion-mexico/2014/mexico-canada-y-eua-relanzaran-su-relacion-sre-978405.html

UK Trade Mission to Mexico

http://exportbritain.org.uk/events/trade-mission-to-mexico-two.html

Puerto Rico Has Credit Rating Cut One Step to Junk by S&P

http://www.bloomberg.com/news/2014-02-04/puerto-rico-has-credit-rating-cut-one-step-to-junk-level-by-s-p.html

Videgaray Says Mexico 2013 Public Investment Spending Sped Up

http://www.bloomberg.com/news/2014-01-30/videgaray-says-mexico-2013-public-investment-spending-sped-up.html

Venezuela Oil Exports to U.S. Hit Lowest Rate Since 1985

http://www.bloomberg.com/news/2014-01-30/venezuela-oil-exports-to-u-s-hit-lowest-rate-since-1985.html

OTHER TOPICS

Entrevista con Suichiro Megata, Excelentísimo Embajador de Japón en México

http://www.aapaunam.mx/Revista/REV-A4-VOL4-AbrilJun/Shuichiro_Megata_Embajador_Japon.pdf

9 Secrets of Successful Entrepreneurs

http://www.businessinsider.com/9-secrets-of-successful-entrepreneurs-2014-1?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Business%20Insider%20Select&utm_campaign=BI%20Select%20%28Tuesday%20Thursday%29%202014-01-30&utm_content=emailshare

The 3 Roles that Define most Office Conflicts 

http://www.inc.com/shelley-prevost/everyone-has-a-role-in-office-drama-whats-yours.html

CFOs: When to Stop Growing

http://ww2.cfo.com/growth-companies/2014/01/growth-can-hurt-business/

Learning Opportunities are Crucial for keeping Employees 

http://blogs.hbr.org/2014/01/if-youre-not-helping-people-develop-youre-not-management-material/

WHAT TO DO IN MEXICO CITY

Documentales en la Cineteca Nacional de la World Cinema Project

http://www.conaculta.gob.mx/detalle-nota/?id=32068&vi=1#

Feria del Arte Contemporáneo Nacional e Internacional Zona Maco 2014

http://www.conaculta.gob.mx/detalle-nota/?id=32074&vi=1#

1st 2014 Season at the UNAM Philharmonic Orchestra

http://www.ofunam.unam.mx/interiores/programacion/programa6.html#p5

Sainte Marie Bistro: Mexican, Lebanese, Spanish and French Gourmet Fusion in Coyoacan
http://www.chilango.com/restaurantes/coyoacan/sainte-marie-bistro
Night Life: La Caverna Rock & Bar
http://www.chilango.com/antros-bares/pedregal-de-santo-domingo/la-caverna-rock-bar

KEY MEXICO STATISTICS 2014

(Source: Mexico Central Bank)

JAN / DIC / NOV

Exchange Rate: MXN to USD

13.3769 / 13.0843 / 13.1101

Exchange Rate: MXN to EUR

18.1244 / 18.0079 / 17.8271

Exchange Rate: MXN to CAD

12.0149 / 12.3168 / 12.3716

Exchange Rate: MXN to GBP

22.3140 / 21.9648 / 21.7059

Country Risk (basis points)

196 / 156 / 184

Bolsa (IPC BMV)

40,879.75 / 42,727.09 / 42,499.13

Cetes 28d

3.18% / 3.16% / 3.40%

Inflation

3.97% / 3.62% / 3.36%

UDIs

5.100417 / 5.058731 / 5.018606

IMCE IMCP BURSAMETRICA (Economic Confidence)

67.28 / 71.43 / 70.69

International Reserves (M USD)

$177,179.10 / $176,578.7 / $175,882.00

Graphical Summary of Key Mexico Statistics at:

http://www.slideshare.net/nuricua/newsletter-enero-2014-30985863

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently”- Warren Buffett.