European shares are lower, pressured by disappointing results by Deutsche Bank and ending a six-session gain, as Asian equities and S&P futures were little changed after a record-setting rally in world stocks which pushed the MSCI World index to over $50 trillion yesterday, fizzled after Trump released unconvincing tax cut plans prompting traders to "sell the news" while caution set in as the ECB met.
As President Trump appears to fold on his funding request for a border wall, though tweet-xclaiming "it will get built and help stop drugs, human trafficking etc.," a top Mexican official on Tuesday said that Mexico may consider charging a fee for Americans entering the country in what could be seen as a retaliation to President Trump's posturing.
Yesterday was the deadline for companies to submit bids for Trump's "physically imposing" yet "aesthetically pleasing" border wall between the U.S. and Mexico. And while the U.S. government has said they won't disclose bids, rather just the names of companies actually awarded contracts on June 1st, some of the companies decided to disclose their plans themselves. Below are a couple of our faves...
Submitted by OilPrice
Mexico’s oil and gas regulator said last week that the country’s proved hydrocarbon reserves will drop by 10.6 percent in 2017. This forecast, coupled with the lower oil production that state company Petroleos Mexicanos (Pemex) reported for yet another year in 2016, is painting a rather bleak picture of Mexico’s reserves.
Without resumption in investments and more drilling, and if no significant finds occur, Mexico will be running out of reserves within 9 years, according to an official from the National Hydrocarbons Commission.
After Ford scrapped plans for a new facility in Mexico and continues to flood the White House with press releases detailing normal course capital expenditures to be made on domestic plants, investments that would have been made irrespective of their outsourcing ambitions, it seems as though economics are making a comeback in guiding the capital allocations of other companies as 'outsourcing' is once again picking up steam among American companies.