Volkswagen Initiates Production of Beetle in Mexico

In the central Mexican city of Puebla - the exclusive manufacturer of the vehicle - Volkswagen has begun production of its latest Beetle model at its giant plant.

In a speech at the launch ceremony for the new model, President Felipe Calderon said the German’s automaker’s $400 million investment in the rollout “will have a very positive multiplying effect.”

Harry Potter Has Richest Opening Weekend in Box Office History

6.2 Billion dollars is what Harry Potter and the Deathly Hallows: Part 2 brought in this opening weekend, the most in box office history.

Of course when talking about records, it’s always worth taking into consideration the effects of inflation and 3-D ticket hikes. Just check out this story I wrote in February 2010. It includes a list of the highest-grossing films when adjusted for inflation. Gone With the Wind earned an inflation adjusted $1.48 billion domestically compared to Avatar‘s $760 million.

Not everyone agrees with adjusting for inflation though. Read more about what the author's colleague has to say about adjusting inflation in order to match records to today's prices.

News on European Bank Stress Tests

Five Spanish banks have failed the European Union bank stress tests, including Caixa Catalunya, making up the bulk of the eight failures in the bloc, the Bank of Spain said on July 15, 2011. But the five will not need additional capital because the sector is already being restructured, the governor of the Bank of Spain, Miguel Angel Fernandez Ordonez, told a news conference. Read more here.

What do you think will be the consequences of the failed stress tests for the European economy?

Venezuelan Economy: Opening the Gates to Corruption

According to a study published in June 2011 by the World Justice Project (WJP), Venezuela has “the worst result in the world” when it comes to justice, corruption, and interference by the Executive Branch in the other branches of government. The issue being raised in Venezuela for some time now is the amendment of a bill called the Anti-Corruption Act, which it said would potentially open new windows of opportunity for corruption, according to Mercedes De Freitas, the executive director of Transparencia Venezuela.

Click here to read more on the state of the Venezuelan economy and the new corruption act.