Maxcom Telecomunicaciones SAB, Mexico’s fifth-largest phone carrier, fell the most in more than two months, and Axtel SAB declined, after a top lawmaker said Mexico’s Congress won’t lift a limit on foreign investment in the country’s fixed-line phone carriers.
Enrique Pena Nieto was elected Mexico’s president yesterday, returning the once-dominant Institutional Revolutionary Party to power following a 12-year hiatus, while failing to win a majority in congress.
Mexico’s Institutional Revolutionary Party, or PRI, and the allied Green Party won’t get a majority in the nation’s Chamber of Deputies, a PRI lawmaker said after yesterday’s presidential and congressional elections.
Chicago Alderman Anthony Beale called a news conference this week to trumpet Wal-Mart Stores Inc. bringing $8.75-an-hour wages to his far south side neighborhood. One hiccup: The Wal-Mart executive flanking him wouldn’t confirm the number.
Mexican President Felipe Calderon may have difficulty pushing through his agenda, including plans to make it easier for businesses to hire and fire workers, after members of the opposition Institutional Revolutionary Party , or PRI, were appointed to lead the Senate and lower house.
Molibdenos y Metales SA , the world’s biggest molybdenum processor, may become the first Chilean company to sell bonds in Brazil as it seeks new financing sources for planned expansions and working capital.
Candente Copper Corp., a Canadian mining exploration company with operations in Peru, headed for its biggest weekly drop in more than four years as community opposition delayed a recently restarted drilling project.