Newsletter May 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

EU Seeks ‘Fair’ Gas Price for Ukraine
http://www.bloomberg.com/news/2014-06-03/eu-seeks-fair-gas-price-for-ukraine-oettinger-says.html
Appeals Court Refuses to Block Conflict Minerals Deadline

http://blogs.wsj.com/law/2014/05/14/appeals-court-refuses-to-block-conflict-minerals-deadline/

Lukewarm response as Russia submits draft Ukraine resolution

http://www.dw.de/lukewarm-response-as-russia-submits-draft-ukraine-resolution/a-17677969

Brazil Debt Suffering Social-Spend Promises with Election

http://www.bloomberg.com/news/2014-06-03/brazil-debt-suffering-social-spend-promises-with-election.html

NATO scrutinizes Russia, Obama reassures eastern Europe

http://www.dw.de/nato-scrutinizes-russia-obama-reassures-eastern-europe/a-17679689

GLOBAL ECONOMY

Manufacturing Pickup Shows U.S. Emerging From Slump

http://www.bloomberg.com/news/2014-06-02/manufacturing-pickup-shows-u-s-emerging-from-slump-economy.html

Obama Climate Proposal Will Shift Industry Foundations

http://www.bloomberg.com/news/2014-06-02/climate-rules-threaten-to-rewrite-u-s-energy-map.html

Cheap Labor boosts Mexico´s Manufacturing

http://www.reuters.com/article/2014/06/02/us-mexico-economy-analysis-idUSKBN0ED20H20140602

GM Beats Estimates for May Sales as U.S. Housing Returns

http://www.bloomberg.com/news/2014-06-03/chrysler-pushes-u-s-sales-streak-to-50th-month-on-jeeps.html

Pakistan Cuts Power Subsidies, Overhauls Tax Rules in IMF Push

http://www.bloomberg.com/news/2014-06-03/pakistan-cuts-power-subsidies-overhauls-tax-rules-in-imf-push.html

FINANCE AND ACCOUNTING

Unstoppable $100 Trillion Bond Market Renders Models Useless

http://www.bloomberg.com/news/2014-06-01/the-unstoppable-100-trillion-bond-market-renders-models-useless.html

77,000 Global Banks and Financial Institutions sign up to fight Tax Evasion

http://www.reuters.com/article/2014/06/02/us-usa-tax-fatca-idUSKBN0ED1U620140602

FASB, IASB Expect to Finalize Lease-accounting Rule

http://www.accountingtoday.com/news/accounting_news/leasing-changes-will-have-big-impact-on-10-of-public-companies-70797-1.html

Slowing Euro Inflation Puts Pressure on Central Bank

http://www.bloomberg.com/news/2014-06-03/euro-inflation-slowing-more-than-forecast-pressures-ecb.html

Saving Spain from Catalan Split is Felipe VI’s First Task

http://www.bloomberg.com/news/2014-06-02/saving-spain-from-catalan-split-is-felipe-vi-s-first-task.html

MEXICO AND LATIN AMERICA

Programa CAN + agilizará flujos de Comercio entre México y Canadá

http://www.eluniversal.com.mx/nacion-mexico/2014/visa-mexicanos-expedicion-canada-1009788.html

Infraestructura, Clave para los Negocios entre Reino Unido y México

http://www.elfinanciero.com.mx/economia/infraestructura-clave-para-los-negocios-entre-reino-unido-y-mexico.html

Goldman Gets Ecuador Gold as Correa Steps up Cash Hunt

http://www.bloomberg.com/news/2014-06-03/goldman-sachs-gets-ecuador-gold-as-correa-steps-up-hunt-for-cash.html

Brazil Real Leads Emerging-Market Drop on Growth Outlook

http://www.bloomberg.com/news/2014-06-02/brazil-real-falls-to-two-month-low-as-analysts-pare-gdp-forecast.html

Mexico Inflation-Linked Bonds Rally on GDP Outlook; Peso Falls

http://www.bloomberg.com/news/2014-06-02/mexico-inflation-linked-bonds-rally-on-gdp-outlook-peso-falls.html

OTHER TOPICS

Alfred Laengle, Ex-Embajador de Austria en México

http://www.aapaunam.mx/Revista/REV-A4-VOL4-JulSep/Entrevista_Embajador_de-Austria-en-Mexico.pdf

Business Groups aren't just for Networking 

http://smartblogs.com/leadership/2014/05/28/how-can-leaders-get-the-most-out-of-a-professional-business-organization/?utm_source=brief

25 Famous Business Books Summarized in One Sentence

http://www.businessinsider.com/famous-business-book-summaries-2014-5?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Business%20Insider%20Select&utm_campaign=BI%20Select%20%28Wednesday%20Friday%29%202014-05-28&utm_content=emailshare

CEOs can't Afford Weak Senior Staff 

http://blogs.hbr.org/2014/05/where-theres-no-margin-for-toxic-leadership/

6 Ways to re-energize your Career 

http://www.inc.com/minda-zetlin/feeling-stuck-6-tricks-for-getting-past-a-plateau.html

WHAT TO DO IN MEXICO CITY

2^nd Season from the UNAM´s Philharmonic Orchestra

http://www.ofunam.unam.mx/interiores/programacion/programa10.html#p6

Photographic Exposition “The Other City, Mexico City´s Photographs 1900 - 1918”

http://www.cultura.df.gob.mx/index.php/component/eventlist/details/11445-la-otra-ciudad-fotografias-de-la-ciudad-de-mexico-1900-1918

Teatro Helénico: El Misantro  o el Violento Enamorado (adaptación de Moliere)

http://www.helenico.gob.mx/

Innovaciones, Máscaras y Danzas del Pacífico Sur en el Museo de las Culturas Populares

http://www.mexicoescultura.com/actividad/109239/Invocaciones,%20m%C3%A1scaras%20y%20danzas%20del%20pac%C3%ADfico%20sur.html#.U44UD_mSzNw

10 Places to find David Alfaro Siqueiros´s Murals in Mexico City

http://www.chilango.com/cultura/nota/2014/06/02/siqueiros-en-la-ciudad-de-mexico

KEY MEXICO STATISTICS 2014

(Source: Mexico Central Bank)

MAY / APR / MAR

Exchange Rate: MXN to USD

12.8609 / 13.0901 / 13.0549

Exchange Rate: MXN to EUR

17.5050 / 18.1036 / 18.0132

Exchange Rate: MXN to CAD

11.8357 / 11.9389 / 11.8133

Exchange Rate: MXN to GBP

21.8556 / 22.3423 / 22.0687

Country Risk (basis points)

138 / 155/ 155

Bolsa (IPC BMV)

41,362.51 / 40,711.56 / 40,461.60

Cetes 28d

3.31% / 3.25% / 3.19%

Inflation

3.50% / 3.76 %/ 4.23%

UDIs

5.135142 / 5.150043 / 5.145084

IMCE IMCP BURSAMETRICA (Economic Confidence)

69.34 / 71.90 / 70.26

International Reserves (M USD)

$187,275.20 / $184,013.20 / $180,700.20

Graphical Summary of Key Mexico Statistics at:

http://www.slideshare.net/nuricua/key-mexico-statistics-mar-may-2014

“It’s fine to celebrate success but it is more important to heed the lessons of failure.”
- Bill Gates