Newsletter July 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

Obama: US to Help Establish Africa Peacekeeping Force
http://www.dw.de/obama-us-to-help-establish-africa-peacekeeping-force/a-17838254
Argentina defaults, but Worst fallout can be Averted 
http://www.reuters.com/article/2014/07/31/us-argentina-debt-idUSKBN0G00DX20140731
U.S. Companies wary of Suppliers’ Conflict Minerals

http://www.post-gazette.com/business/2014/07/10/U-S-companies-wary-of-suppliers-conflict-minerals/stories/201407100151

U.S., EU Sanctions aim to block Russian access to Oil Wealth 

http://www.nytimes.com/2014/07/30/world/europe/european-sanctions-russia.html?_r=1

Portugal's Bank Bailout - No Need to Panic

http://www.dw.de/portugals-bank-bailout-no-need-to-panic/a-17831256

GLOBAL ECONOMY

Productivity Increases Foster Profitable Growth: Georg Fischer
http://www.georgfischer.com/content/gf/com/en/news/mediareleases/mediarelease/productivity-increases-foster-profitable-growth.html
Planes, Trains and Mexican Automobiles
https://ukti.blog.gov.uk/2014/07/24/planes-trains-and-mexican-automobiles/
Spain Growth Beats Bank of Spain Estimate Even as Prices Fall
http://www.bloomberg.com/news/2014-07-30/spain-growth-beats-estimates-as-rajoy-fights-unemployment.html
Obama urges Africa Investment
http://www.dw.de/obama-speaks-at-africa-summit-in-washington/a-17833544
Australian Jobless Rate Tops U.S. First Time since 2007
http://www.bloomberg.com/news/2014-08-06/australian-jobless-rate-jumps-to-6-4-sending-currency-lower.html

FINANCE AND ACCOUNTING

G-7 Nations Said to Oppose New World Bank Russia Projects

http://www.bloomberg.com/news/2014-07-31/g-7-nations-said-to-oppose-new-world-bank-projects-in-russia.html

Abenomics Charm Fades as Yields Signal Headwinds: Japan Credit

http://www.bloomberg.com/news/2014-07-31/abenomics-charm-fades-as-yields-signal-headwinds-japan-credit.html

S&P500 index posts worst fall since April; indexes down for July

http://www.reuters.com/article/2014/07/31/us-markets-stocks-idUSKBN0G019T20140731

Wall Street Banks ordered to Revision as Bankruptcy Plans failures vs. US Regulators

http://www.bloomberg.com/news/2014-08-05/biggest-u-s-banks-told-to-simplify-their-living-wills-.html

U.S. outpaces Hong Kong for Cross-border IPOs 

http://blogs.wsj.com/moneybeat/2014/08/04/new-york-muscles-ahead-of-hong-kong-in-big-ticket-ipos/

MEXICO AND LATIN AMERICA

Balanza Comercial México – Canadá, Superavitaria para México

http://www.eluniversal.com.mx/finanzas-cartera/2014/impreso/mexico-exporta-mas-a-canada-111553.html

Here Are Seven Ways Argentine Debt Crisis Could Get Fixed

http://www.bloomberg.com/news/2014-07-31/here-are-seven-ways-argentine-debt-crisis-could-get-fixed.html

Mexico’s biggest Real Estate Investment Trust Purchase is Winning over Shareholders

http://www.bloomberg.com/news/2014-08-05/biggest-fibra-uno-purchase-is-winning-over-shareholders.html

Brazil’s Swap Rates Drop as Economists Cut GDP Growth Forecast

http://www.bloomberg.com/news/2014-08-04/brazil-s-swap-rates-drop-as-economists-cut-gdp-growth-forecast.html

Deutsche Bank Said to Have Joined Talks With Argentina Holdouts

http://www.bloomberg.com/news/2014-08-06/deutsche-bank-said-to-have-joined-talks-with-argentina-holdouts.html

OTHER TOPICS

Entrevista con E.G. Dereymaeker, Embajador de Bélgica en México

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

The Top 5 Mistakes People Make When Starting a Business

http://www.businessinsider.com/the-top-5-mistakes-people-make-when-starting-a-business-2014-7?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Business%20Insider%20Select&utm_campaign=BI%20Select%20%28Tuesday%20Thursday%29%202014-07-29&utm_content=emailshare

The 17 Fastest Ways to Get Ahead In Your Career 

http://www.businessinsider.com/fast-ways-to-get-ahead-in-your-career-2014-7?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Business%20Insider%20Select&utm_campaign=BI%20Select%20Mondays%202014-07-28&utm_content=emailshare

Delegation is Key to Successful Crisis Management 

http://www.theglasshammer.com/news/2014/07/29/leading-people-through-a-crisis/

Social Responsibility starts with How Companies treat Employees 

http://smartblogs.com/leadership/2014/07/29/what-is-your-organizations-social-impact/

WHAT TO DO IN MEXICO CITY

Mozart’s “Cosi fan tutte” at the National Arts Center

http://www.conaculta.gob.mx/verano-cultural/

Muestra “100 años. Imagen y palabra / Paz, Huerta Revueltas” en la Galería Abierta

http://www.conaculta.gob.mx/detalle-nota/?id=35292#.U-GNKvmSySo

La Ópera Prima de Gabriel Nuncio en la Cineteca Nacional

http://www.conaculta.gob.mx/detalle-nota/?id=35286#.U-GNrvmSySo

Theory of Beauty, Italian Painting at San Carlos National Museum

http://www.mexicoescultura.com/actividad/117015/Teor%C3%ADa%20de%20la%20belleza.html#.U-GPlfmSySo

New Chinese Wing at Cultures National Museum

http://www.mexicoescultura.com/actividad/69155/Abre%20la%20Sala%20de%20China%20en%20el%20Museo%20Nacional%20de%20las%20Culturas.html#.U-GQKfmSySo

KEY MEXICO STATISTICS 2014

(Source: Mexico Central Bank)

JUL / JUN / MAY

Exchange Rate: MXN to USD

13.2269 / 12.9712 / 12.8609

Exchange Rate: MXN to EUR

17.7069 / 17.7070 / 17.5050

Exchange Rate: MXN to CAD

12.1566 / 12.1507 / 11.8357

Exchange Rate: MXN to GBP

22.6464 / 22.5089 / 21.8556

Country Risk (basis points)

140 / 135 / 138

Bolsa (IPC BMV)

43,817.69 / 42,737.17 / 41,362.51

Cetes 28d

2.80% / 2.90% / 3.31%

Inflation

3.75% / 3.51% / 3.50%

UDIs

5.139503 / 5.131110 / 5.135142

IMCE IMCP BURSAMETRICA (Economic Confidence)

70.85 / 70.92 / 69.34

International Reserves (M USD)

$190,192.10 / $188,405.50 / $187,275.20

Graphical Summary of Key Mexico Statistics at:

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

“I have not failed. I’ve just found 10,000 ways that won’t work.”
- Thomas Edison