And for those pressed for time, the Big Take podcast covers all the essentials of the story: open.spotify.com/episode/6Wv6...

The reporting on the tragedy at Rainbow Mountain is also available in documentary format
www.bloomberg.com/news/videos/...

Barry, however, is expected to make landfall within the next day along Mexico’s Gulf coast, bringing heavy rainfall across the states of Veracruz, San Luis Potosi and Tamaulipas through Monday, with the potential for life-threatening floods.

While Flossie is forecast to be the stronger of the two systems, it will likely remain over open waters, posing little threat to land. It is still expected to bring heavy precipitation to parts of the states of Oaxaca, Guerrero and Michoacan.

So what's next? President Claudia Sheinbaum has responded defiantly to the US measures, arguing she’s seen no evidence to support the designations

The US orders take effect 21 days following publication in the Federal Register.

We'll be following the story closely in days to come.

Two Mexican REITs said they planned to remove CIBanco as a trustee following the accusations. Fibra Inn said a technical committee on Thursday decided to replace the bank while Terrafina also said it intends to remove the firm from that role.

The ripple effects continue: Citigroup and BNY Mellon are starting to pause dealings with CIBanco and Intercam following the orders tied to alleged fentanyl money flows.
www.bloomberg.com/news/article...

After the accusations, Mexico regulators quickly took control of the firms, stepping in as temporary administrators to stabilize operations

While the firms are small, they're well-known for foreign exchange operations and overseas branches www.bloomberg.com/news/article...

The US Treasury accused three Mexican financial firms—CIBanco, Vector and Intercam—of helping move money tied to fentanyl trafficking All three firms deny the allegations and say they’re cooperating with authorities.

Or read highlights here! Including that the govt is looking more exceptions for the auto sector, and doesn't see a goal of "zero tariffs," but rather of having the lowest possible ones

www.bloomberg.com/news/article...