Oct. 19, 2015, 8:31 AM
- A long government investigation into Wal-Mart's (WMT, OTCQX:WMMVY, OTCPK:WMMVF) operations in Mexico has found very few major offenses, according to The Wall Street Journal. Originally, Wal-mart de Mexico and officials were expected to face criminal charges.
- The corruption case is now expected to be resolved with only a fine against the company.
- The DOJ case against in Wal-Mart in India is seen leading to more significant FCPA violations than the probe in Mexico.
- WMT -0.51% premarket to $58.59.
Sep. 11, 2014, 3:36 PM
- “We have been adding to our Brazilian exposure and in particular have been buying Brazilian state-owned enterprises where the outlook is improving and they are priced at deep discounts to their intrinsic value,” says Santander Asset Management's Dipak Chouhan.
- The Santander Acciones Latinoamerica Fund - the best performing mutual fund covering that region with a 29% gain YTD vs. the MSCI LatAm Index up 9.4% - has added Petrobas (PBR +1.7%), and increased stakes in Itau Unibanco (ITUB +0.1%), and Estacio Participacoes (OTCPK:ECPCY +0.2%).
- Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
- The fund is also liking Mexico, seeing opportunity and stronger growth amid the opening of the energy market. It's boosted holdings of Alsea (OTC:ALSSF) and Cemex (CX -0.1%), while cutting its stake in Wal-Mart Mexico (OTCQX:WMMVY -0.5%).
- Mexico ETFs: EWW, UMX, SMK, DBMX
Jan. 16, 2013, 2:52 PMExposure to Brazil (EWZ), only better, the Latin American 40 ETF (ILF) also has a heavy weighting in Mexican giants like Carlos Slim's America Movil (AMX) and Wal-Mart Mexico (WMMVY.PK). The Mexican additions have allowed ILF a far-superior performance to the Brazil offering. | Jan. 16, 2013, 2:52 PM | 1 Comment
Nov. 14, 2012, 5:43 AMMexico's Senate yesterday passed a major labor-market reform bill that makes it easier to hire and fire staff, and shorten labor disputes. The government hopes the measures will create up to 400,000 jobs a year and cut the number of workers in the black market, which is estimated to cost Mexico as much as $15B in lost taxes each year. Major U.S.-listed firms that could be affected include American Movil (AMX) and Cemex (CX). | Nov. 14, 2012, 5:43 AM
Apr. 23, 2012, 9:52 AM
Wal-Mart's (WMT -4.1%) Mexican subsidiary, Walmex (WMMVY.PK -15.8%) plummets in early trade in wake of the bribery story. Wal-Mart owns 69% of Walmex and it accounts for about 8% of company's overall profit. Walmex controls about 62% of the Mexican food retail market with EPS growth this year expected around 39%.| Apr. 23, 2012, 9:52 AM | 1 Comment
Jun. 21, 2011, 3:30 PMRBC notes a decade of wage inflation in China vs. stagnation in Mexico has left the U.S. southern neighbor quite competitive. Toss in a new world of expensive energy, and Mexico's advantage over China gets clearer. Look for Mexico's share of U.S. imports - 12.5% in 2010 - to keep rising. | Jun. 21, 2011, 3:30 PM | 5 Comments