Mexican Beer Modelo Shines Bright as Bud Light Loses Its Sparkle in the US

Mexican business news: Modelo beer surpasses Bud Light in the US, American Airlines increases flights to Mexico's beach destinations, and calls for greater regulation for SMEs listing on the stock exchange. Stay informed with the latest updates from the dynamic Mexican market.

Mexican Beer Modelo Shines Bright as Bud Light Loses Its Sparkle in the US
Modelo Especial rises to the top, dethroning Bud Light as the leading beer in the US market, causing a buzz among beer enthusiasts. Image by Alexa from Pixabay

In a surprising twist of events, the reigning champion of the U.S. beer market, Bud Light, has been dethroned by the uprising star, Modelo Especial, brewed by Constellation Brands. The unexpected shift in fortunes for these hoppy heavyweights comes hot on the heels of a controversial social media promotion that drew the ire of conservatives.

The brouhaha erupted when Bud Light unveiled a daring advertising campaign featuring transgender influencer Dylan Mulvaney. While the move was hailed by progressive beer aficionados as a bold step towards inclusivity, it sparked a fiery backlash from conservatives, who claimed the promotion was an affront to traditional values.

The conservative outcry reverberated through the sales figures, causing a 24.6 percent decline in Bud Light's sales and a 9.2 percent drop in its sibling brew, Budweiser. Meanwhile, Modelo Especial rode the wave of controversy, experiencing a remarkable 10.2 percent surge in sales during the four weeks ending June 3. These staggering numbers were confirmed by the renowned consulting firm Bump Williams, which specializes in brewing up data from NielsenIQ.

While the U.S. beer market was still reeling from this unexpected shake-up, American Airlines swooped in with news that will have sun-seeking travelers raising their glasses. The airline announced plans to increase its flight offerings to some of Mexico's most beloved beach destinations, including the picturesque Acapulco and the tropical paradise of Puerto Vallarta. As winter approaches, American Airlines is ensuring that beach-loving passengers have more options to escape the chilly grip of the North American winter and bask in the warm embrace of Mexican sunsets.

In other news, the Mexican Institute of Public Accountants (IMCP) raised its voice to demand greater regulations for small and medium-sized enterprises (SMEs) looking to list on the Mexican Stock Exchange. The IMCP wants the authorities to establish minimum conditions that would safeguard investors and provide security in the debt market for these ambitious companies. A proposed reform to the Securities Market Law aims to simplify the listing process for SMEs, opening up new opportunities for them to join the Mexican stock market. With these changes on the horizon, the IMCP seeks to ensure that the path to the BMV is paved with investor confidence.

Across the border, UPSIDE Foods, a pioneering Californian company, is making leaps in the realm of cultured meat. Breaking new ground, UPSIDE Foods announced that it has received regulatory approval from the United States Department of Agriculture (USDA) for its cell-grown chicken. This historic milestone positions UPSIDE Foods as the first company in the United States to achieve such certification. As consumers increasingly prioritize sustainable alternatives to traditional livestock farming, UPSIDE Foods and other companies are making strides in the race to offer cultured meat and fish products, addressing environmental concerns and tantalizing taste buds along the way.

However, not all is smooth sailing within the North American region. Trade disputes have taken a turn for the worse under the Treaty between Mexico, the United States, and Canada (T-MEC). With stricter tools at their disposal, compared to the previous North American Free Trade Agreement (NAFTA), the T-MEC has the potential to complicate cases for investors caught in the crossfire of trade conflicts. As tensions simmer, the resolution of these disputes now lies in the hands of the T-MEC's more stringent mechanisms.

Shifting gears to matters of gender representation, the Economic Commission for Latin America and the Caribbean (ECLAC) shed light on a concerning issue: the lack of women leaders in global value chains across various industries. Despite progress in promoting gender equality, the inclusion of women in leadership positions lags. The ECLAC's findings serve as a sobering reminder that further strides are needed to achieve true gender parity in the corporate world.

Turning our attention to the financial arena, the dollar bid adieu to 14 cents, closing at $17.56. The decline came after the Federal Reserve decided to keep its interest rate unchanged. This subtle shift in the greenback's value may have a ripple effect on the global economy, leaving economists and investors eagerly watching for the next chapter in this monetary saga.

In a legal twist, the Supreme Court of Justice of the Nation overturned the elimination of asymmetric measures imposed on Pemex in the 2014 energy reform. Previously canceled by Congress in May 2021, these measures were reinstated days later by Judges Rodrigo de la Peza and Juan Pablo Gómez Fierro, much to the chagrin of the energy sector. The Court's recent ruling has wider implications, preventing the reform from being applied in the future. By clarifying that the effects will not be limited to individual companies, the Court seeks to maintain balance in the hydrocarbons market.

Meanwhile, the Energy Regulatory Commission (CRE) highlighted a startling fact: at least 936 municipalities in Mexico, predominantly in the southern regions, lack a single gas station to quench the fuel needs of their communities. This shortage leaves residents of these areas grappling with limited access to fuel and raises questions about the adequacy of infrastructure to meet the demand.

In a glimmer of positive news, manufacturing employment in Mexico experienced a modest 0.06 percent growth in April, breaking a streak of three consecutive declines. This welcome boost was driven by increased personnel in ten out of the twenty-one branches of the manufacturing sector, providing a glimmer of hope for workers and a potential catalyst for economic recovery.

Lastly, the state of Nuevo Leon unveiled a plan to provide much-needed support to micro, small, and medium-sized enterprises (MSMEs). The Nuevo Impulso Nuevo León program has allocated a substantial fund of 400 million pesos to offer preferential loans to these businesses. With this financial backing, MSMEs can seize new opportunities, nurture growth, and contribute to the vibrant economic tapestry of Nuevo Leon.