Slim?s pickings Thu, 10 Jul 2008 13:30:55 -0000 More competition should help to drive down exorbitant phone chargesIT HAS become quaint, in the era of Skype and unlimited calling plans, to worry too much about the cost of phone calls. But it is a textbook case of the old saying: "Them as has, gets". The well-connected executive can use any number of voice-over-internet services to make free calls; but the rural poor, if they have phones at all, must pay high rates. Perhaps nowhere is this more true than in Mexico, where Carlos Slim, by some estimates the world's richest man, dominates the telecoms industry. He controls Telmex, which has 81% of the fixed-line market, and Telcel, which has 72% of the mobile market. In the first quarter of 2008 Telmex had a profit margin before interest, taxes, depreciation and amortisation of 48.7%; for Telcel the figure was 52.1%.This is well above the global average for telecoms firms of 35%, says Martin Lara, an analyst at Vector Casa de Bolsa, a research firm. Base tariffs have fallen in Mexico in recent years, but they do not include things like international calls or calls to mobile phones. Competition has not helped much, because smaller firms have been reluctant to undercut Mr Slim's companies by very much--and high prices boost their profits, too. "No one wants to destroy these profits overnight," says Mr Lara. ...
BBC News | Business | World Edition
Argentina drops disputed farm tax Fri, 18 Jul 2008 18:19:27 -0000 Argentina's President Cristina Fernandez de Kirchner cancels tax rises on farm exports, after months of protests. Sony Ericsson to axe 2,000 jobs Fri, 18 Jul 2008 15:17:17 -0000 Mobile phone maker Sony Ericsson says it will shed 2,000 jobs worldwide in order to cut costs. China loses WTO car parts dispute Fri, 18 Jul 2008 17:07:12 -0000 The World Trade Organization (WTO) rules that Chinese import tariffs on foreign car parts break the trade body's rules.
NYT > World Business
In Dispute With BP, Kremlin’s Hand Is Seen Sat, 19 Jul 2008 03:33:10 -0000 Critics say that Russian shareholders have enlisted an improbable ally in their attempt to force BP to fire the chief executive of TNK-BP.
For Global Trade Talks, the Stakes Have Risen Sat, 19 Jul 2008 10:11:22 -0000 If negotiations fail at the Doha round of trade talks, one casualty will be the credibility of the World Trade Organization itself.
W.T.O. Rules Against China for Its Tariffs on Auto Parts Sat, 19 Jul 2008 03:12:57 -0000 China violates global trade rules by requiring automakers operating there to buy components from local suppliers or face penalties, the World Trade Organization ruled on Friday.
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On June 18, 2008, Larry Sinclair gave a press conference at the National Press Club, in Washington, DC He repeated his ...