Countries in the region are taking greater control of the revenues generated by the minerals and hydrocarbons produced within their borders, in particular when it comes to lithium…More
Spain’s Second Largest Lender, BBVA, Escalates Its War on Cash in Mexico
Some banks will do just about anything to try to wean their customers off using physical money, including (in the case of BBVA) charging their customers for using cash too often. More
Bank of England Warns of Record Slump in Standard of Living, As It Hikes Interest Rates for Second Time in Two Months
The BoE’s decision to implement back-to-back rate hikes, for the first time since 2004, heaps yet more pressure on stretched household finances and struggling businesses…More
Almost Half of Spain Is Now Vaccine Passport-Free (At Least for Domestic Uses)
Catalonia becomes the third region in two weeks to drop the digital vaccine certificate. Four regions, including the Community of Madrid, never implemented it for domestic use… More
Financialization of Housing in Europe Is Intensifying, New Report Warns
Since the Global Financial Crisis residential property in European cities has become an attractive asset class for financial institutions, many in the U.S. The virus crisis has merely intensified this trend…More
Citi’s Hurried Exit From Mexico Just Hit a $5 Billion Snag
An eight-year court case in Mexico involving the New York lender remains unresolved. And it could take another two years to reach a settlement.More
Opposition Rises to NHS Vaccine Mandate, As Justifications for Mandate Run Out of Logic
With Omicron evading the current crop of vaccines with effortless ease and the UK Government withdrawing most other virus-control measures, there is no rational justification for vaccine mandates for healthcare staff. More
As Citi Prepares to Leave Mexico, the Hunt Is On for Its Assets
Big global lenders, including Spain’s Santander and Canada’s Scotiabank, are interested, but Mexico’s President Lopéz Obrador would prefer the country’s third largest bank to pass back into the hands of Mexican owners…More
Remittances Soar to Record High in Latin America, Providing a Lifeline for Desperate Economies
Remittances are a vital source of income and foreign currency for many countries but are no substitute for home-grown development…More
Mexico City Grapples With Acute Water Shortages, As “Day Zero” Approaches
Unless dramatic steps are taken, one of the world’s largest cities could face “Day Zero” — when supplies of water run so low that government must begin rationing the precious liquid — as early as 2028…More
Nick Corbishley 