Wikinews:Briefs/Business/December 8, 2005

December 8, 2005

These are some short blurbs about current events in the business world.

New York Stock Exchange to merge with Archipelago Holdings
The 213 year old New York Stock Exchange voted to merge with Archipelago Holdings Inc. The merger will change the NYSE from a non-profit organization into a for-profit publicly traded company. About 90 percent of the 1,366 members of the NYSE's board voted, with 95 percent voting in favor of the merger. The new company will be named NYSE Group Inc. with the symbol NYX.

Mexican illegal immigrants had jobs in home country
Most of the estimated 6.3 million Mexican illegal immigrants who have crossed the U.S.-Mexican border had jobs back in Mexico according to a survey by the Pew Hispanic Center. "Thus, failure to find work at home does not seem to be the primary reason that the estimated 6.3 million undocumented migrants from Mexico have come to the U.S. Policies aimed at reducing migration pressures by improving economic conditions in Mexico may also need to address factors such as wages, job quality, long-term prospects, and perceptions of opportunity," the survey authors wrote. The Center surveyed 4,836 Mexicans showing that only 5 percent who had been in the United States for two years or less were jobless in Mexico. The survey was conducted in Spanish at Mexican consulates in 7 US cities over 7 months. The survey reported that new crossovers are less likely to work on a farm. Most modern crossovers work in construction, hospitals, and manufacturing.