Xerox Faces Inquiry Into Mexico Business

Federal securities regulators are investigating Xerox's (XRX Quote) accounting for its Mexico business, the company said Thursday.

A company spokesman, Bill McKee, said Xerox has begun its own investigation and will reports the results on July 26, when it reports its quarterly earnings. The company said in a statement that it will cooperate with a Securities and Exchange Commission investigation.

The company said on June 16 that unexpected problems with customer receivables in Mexico could cut 5 or 6 cents a share off the quarter's earnings. That amount was unchanged, McKee said. ...