68. BBVA Spark Opens Up; Doubts on SICC’s US$2bn Pharma ‘’Investment’’; S&P Cuts Outlook; GAP Explains

Rodrigo Velasco, Head of BBVA Spark Mexico & LatAm, discusses how BBVA’s division for fast-growing, tech-oriented companies and funds works in practice, and what he looks for when taking on a new client, extending credit or investing in a VC fund.First, Eduardo and Damian dissect the news of the week:* S&P moves Mexico’s outlook to negative while keeping the rating at BBB.* Ebrard prepares markets for a USMCA review without a clean endpoint.* Alejandro Werner warns on Mexico’s low-growth model.* SICC’s US$2bn Hidalgo pharma MOU — and why investors may be skeptical.* GAP shifts from airport operator to broader infrastructure platform.* Tourism weakness hits hotels* Braskem Idesa faces an operational and financial crisis.* Bunq applies for a Mexican banking license.