Latest news with #Mexico City
Yahoo
9 hours ago
- Business
- Yahoo
Mexico's Banorte posts 4% profit bump as loan book grows
MEXICO CITY (Reuters) -Mexican lender Banorte on Tuesday reported a 4% bump in its second-quarter net profit, boosted by an expanding loan book. Net profit for the period came up to 14.62 billion pesos ($779.09 million), below the 15.01-billion-peso estimate from analysts polled by LSEG. Net interest income, the difference between what banks earn on loans and dole out in deposits, grew 12% year-over-year on larger loan book and a reduction in funding costs. In June, Mexico's central bank lowered its benchmark interest rate by 50 basis points to its lowest level in nearly three years. Commercial loans were up nearly 11% compared to the year-ago quarter and corporate loans leaped 16.7%, while government loans slid 16%. Return on equity grew 29 basis points year-over-year to 23.6%. ($1 = 18.7654 pesos at end-June) Sign in to access your portfolio
Reuters
10 hours ago
- Business
- Reuters
Mexico's Banorte posts 4% profit bump as loan book grows
MEXICO CITY, July 22 (Reuters) - Mexican lender Banorte ( opens new tab on Tuesday reported a 4% bump in its second-quarter net profit, boosted by an expanding loan book. Net profit for the period came up to 14.62 billion pesos ($779.09 million), below the 15.01-billion-peso estimate from analysts polled by LSEG. Net interest income, the difference between what banks earn on loans and dole out in deposits, grew 12% year-over-year on larger loan book and a reduction in funding costs. In June, Mexico's central bank lowered its benchmark interest rate by 50 basis points to its lowest level in nearly three years. Commercial loans were up nearly 11% compared to the year-ago quarter and corporate loans leaped 16.7%, while government loans slid 16%. Return on equity grew 29 basis points year-over-year to 23.6%. ($1 = 18.7654 pesos at end-June)
The Independent
2 days ago
- The Independent
Daunted by Disney? How ‘Mouse Counselors' can help plan VIP theme park trips
Booking a trip to a Disney theme park can be a daunting experience even for seasoned Disney vacationers. The options for passes, restaurants, rides and hotels are seemingly infinite, and what's on offer continually changes. And then there's the terminology to get to grips with, from "Lightning Lanes" to "rope drop". Recognizing that it's all too easy for the Happiest Place on Earth to become one of the most confusing and frustrating, a cottage industry of planning and support agencies has emerged to offer Disney-goers a helping hand with the planning and booking — and understanding what's worth doing and what isn't. "Mouse Counselors" is one such company, formed in 2008 by the husband-and-wife team of Phil and Bonnie Marino, who explain that their counselors are 'graduates of the College of Disney Knowledge' (an online training program for Disney travel agents). There are caveats to bear in mind, as we explain, but Sebastian Garrido, from Mexico City, tells The Independent that this firm "was the very reason a recent trip to Walt Disney World did not end up being totally overwhelming". So, how does the Mouse Counselors service work? First, the customer is sent a form to fill out that details the ride and restaurant options, with a weekly email explaining parts of the experience in more detail. Nearer the departure time, you'll have a Zoom review with your "Mouse Counselor", which is a chance to run through any outstanding questions. When you arrive at the park, you won't be armed with an itinerary as such, but if your 'counselor' has done their job, you'll know which rides you should aim for at rope drop — early entrance for those staying at a Disney resort — and which you should add to Lightning Lane multi and single passes. Mouse Counselors are also trained to reveal the rides for which a pass would be redundant, because they don't get booked up or have a very high capacity. The result should be a trip unscarred by soul-destroying queues. To add to the VIP vibe, Mouse Counselors aim to secure reservations at difficult-to-book restaurants. Sebastian, the digital marketing manager and copywriter at Vibe Adventures, said: "Mouse Counselors got us into Oga's Cantina and Space 220, the latter of which I had been attempting to book on my own unsuccessfully. It was all done for us." He added: "We didn't have to think about Genie+, Lightning Lanes, or dining reservations, they took care of everything and even made changes on the fly when weather disrupted our plans." Praise for Mouse Counselors was also posted to a dedicated Facebook page by a couple listed as Matt and Nicole, who said that counselor Tracey helped them 'learn, navigate and plan their trip'. They added: "It was so comforting knowing that we didn't have to worry about reservation conflicts. She was able to help us book the restaurant reservations we had hoped for and sent us great information and tips to plan for our trip. It went perfectly!" Giving Disney-goers the feeling that they're being looked after by a personal butler is also what Pixie Vacations strives for. It's run by former Walt Disney World employee Steven Griswold and his wife and helps plan Disney World, Disneyland and Disney Cruise Line vacations. Steven told The Independent: "We really focus on your particular family and what type of vacation you are looking for. 'For example, if you have young kids you might be more interested in the Magic Kingdom and booking a Disney resort close to the Magic Kingdom that is on the monorail or walkable, so you can quickly get back to your resort for an afternoon nap instead of waiting for a bus and a travel time to and from the Magic Kingdom park." If all this sounds expensive, you're in for a shock, because neither Mouse Counselors nor Pixie Vacations charge a fee if you book with them. Instead, they're paid a commission by Disney for each trip booked. Steven reveals: "We don't charge any fees, so booking with us at Pixie Vacations costs you no additional amount and you get our first-hand experience and tips from actually being in the parks. "We are not a call center paid to get as many people booked as possible and off the phone. "We work with you to learn about your vacation preferences and budget and then offer suggestions that fit your needs. "We are also always looking at what new offers there are and checking to see if a new special offer saves you money. If there are new discounts, we will move your reservation to the lower-priced offer. "Disney will not move you to better deals without you knowing about the specific new offer and you calling them and waiting to talk to someone about changing your booking." Is the system too good to be true? Sebastian, 27, noted happily that he "didn't pay a cent over the cost of booking with Disney directly" and Pixie Vacations customer Michelle Thornton, from Georgia, told The Independent: "Pixie Vacations' services are free. But honestly, even if they weren't, I would still use them to book our Disney vacations. They're just that good." Despite this gushing praise, there is a warning to heed. While booking with travel services such as Mouse Counselors and Pixie Vacations is free, their usefulness does depend on how much money you spend, according to one customer, who told us: 'You should be prepared to stay at the resorts, buy lots of passes and go to the restaurants, which does bump up the cost of the trip substantially."
France 24
6 days ago
- Politics
- France 24
Mexico City vows to tackle gentrification after protests
A demonstration against gentrification in the Mexican capital turned violent earlier this month, with businesses including a Starbucks coffee shop vandalized. Presenting her strategy to address the public anger, Mexico City Mayor Clara Brugada said that gentrification was "one of the most important issues in the city today." "It's not only a city issue, but a global one," she said. "It means the displacement of thousands of families from their neighborhoods. It also represents the disappearance of local businesses," she added. Authorities would create legal instruments to enforce an existing rule that landlords cannot increase rents by more than inflation, she said. The city government would also propose a "fair, reasonable and affordable rent" law to regulate and stabilize rental prices and prevent displacement, Brugada said, without giving details. Regulation of short-term rentals through platforms such as Airbnb would be strengthened, and authorities would prioritize the construction of public housing in central areas, she said. Protesters complain that increased arrivals of remote workers, known as "digital nomads," since the Covid pandemic have driven up rent prices and displaced Mexicans. Some held signs at the recent rally saying "Gringo go home" or demanding that foreigners speak Spanish, pay taxes and respect Mexican culture. President Claudia Sheinbaum condemned what she called "xenophobic" behavior at the demonstration.
Yahoo
15-07-2025
- Business
- Yahoo
Mexico regulator fines financial institutions sanctioned by US, local media report
MEXICO CITY (Reuters) -Mexico's banking regulator slapped three financial institutions, which had been sanctioned by the U.S. for alleged money laundering, with more than 185 million pesos ($9.81 million) in fines in June, local media reported on Tuesday. The U.S. Treasury last month prohibited certain transactions with Mexico's CIBanco, Intercam Banco and Vector Casa de Bolsa as part of fentanyl sanctions. The fines were largely related to money-laundering prevention, local media reported, citing data published by the regulator. Reuters was not immediately able to access the data on the regulator's website. Intercam faced the largest amount in fines, more than 92 million pesos, while CIBanco received upward of 66 million pesos and Vector will need to pay more than 26 million pesos, according to the reports. All three have previously denied the allegations from the U.S. In late June, the banking regulator stepped in to manage the three firms. Mexico's government has also rebuffed the allegations, saying the Treasury had not provided Mexico with proof to back up its claims. ($1 = 18.8499 Mexican pesos) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
