International Business
- Share via
MEXICAN STOCKS
* Mexican stocks closed lower in moderate trading as the falling peso compounded concern about the domestic economy. The spot dollar gained 1.6% on the peso to end at its highest closing level since April 5.
* The peso and the stock market have fallen since the government announced last week that the economy had contracted 10.5% in the second quarter.
* A new plan to restructure commercial debts was not expected to affect the market dramatically. Interest rates on business debts will be limited to 25%, and to 38.5% for credit card loans. Investors continue to tread warily, awaiting President Ernesto Zedillo’s Sept. 1 state of the nation address.
The Bolsa Index
Wednesday closes: 2,443.24
Sources: Bloomberg Business News, Dow Jones
SPOTLIGHT: THE NETHERLANDS
After strong, export-led growth in the late 1980s, a series of budget deficits, high levels of unemployment and public-sector expenditures have slowed the economy significantly. Still, the government continues to spend a high proportion of the national budget--37%--on social security and health care.
Source: Bank of America World Information Services
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
