CALIFORNIA | LOCAL
December 24, 1994
The government of Mexican President Ernesto Zedillo has been rocked by the economic events of the last few days. While some part of the turbulence is no doubt of the weeks-old government's own making, it is absolutely vital that Mexico's neighbors do all in their power to help the new government through this storm. So far both Ottawa and Washington have reacted very well indeed. The United States extended a $6-billion line of credit and Canada chipped in with $1 billion.
September 4, 1998 |
Latin American credit-worthiness was called into question Thursday as Moody's Investors Service downgraded Brazilian and Venezuelan bonds and issued warnings about Mexico and Argentina. The downgrades, on the heels of Colombia's decision Monday to devalue its currency, heightened jitters across the region and sent markets tumbling anew. "We think circumstances have fundamentally changed.
May 27, 1998 |
Latin American markets came under assault Tuesday in the biggest regional sell-off of stocks since the Indonesian economic crisis flared in January. Mexican, Brazilian and Argentine stock markets all took big hits, and the Mexican peso dropped to an all-time low of 8.77 to the dollar. The falloff was blamed on this week's surge in market volatility in South Korea, Russia and other emerging markets, prompting a renewed loss of confidence in most such markets.
CALIFORNIA | LOCAL
July 22, 1997 |
Is this a big deal?," asked a top international finance observer, marveling over the ripple effect in Asia from Thailand's sudden economic crisis. "I'll say! This is the most interesting thing I've seen in the last year or so." Money mavens who follow world currency undulations the way baseball fans track batting averages invariably derive a sadistic thrill (and sometimes thrilling profit) whenever a foreign currency squirms like an insect caught in a spider's web.
June 10, 2000 |
Mexican authorities managed to calm the frazzled currency market Friday after a sharp plunge in the value of the peso this week, which was set off by concerns of possible political turmoil surrounding the July 2 presidential election. The peso strengthened somewhat Friday, closing at 9.89 to the dollar, but it still stood near its weakest level in 15 months after a long period of relative stability. On Thursday, the peso slipped as low as 10 to the dollar before closing at 9.
August 3, 1985 |
Bus and train fares for passengers and cargo prices went up 35% this week in the second increase this year, the Ministry of Communication and Transportation announced. Adolfo Oscar Entrala, the director of the National Union of Cargo and Movers Services, said the hikes were necessary because prices of replacement parts and other services and road tolls have increased almost 1,000% since the recent devaluation of the Mexican peso.
July 4, 1995
Huntway Partners L.P., a Newhall-based oil refining company that produces liquid asphalt, reported a loss of $3.388 million, or 29 cents per unit for the first quarter of 1995, which ended March 31. Revenues in the first quarter were $12.278 million, compared to $13.752 million in 1994. Record rainfall in California negatively affected first-quarter results, driving down total sales of conventional paving asphalt 32%, according to Juan Forster, president and chief executive officer.