Industries and markets

Relief for Facebook legal problems in Brazil: fine reduced to US$ 5 million

“Facebook Inc’s fine for withholding WhatsApp messages from a drug-trafficking investigation in Brazil should be reduced to 23 million reais (US$ 5 million), a Brazilian federal appeals court ruled on Tuesday.”

Five things to watch for at the OAS General Assembly in Colombia

“Representatives from 35 governments in North and South America will convene Wednesday through Friday in Medellin, Colombia to tackle challenges facing the hemisphere.”

Argentina sowing what is forecasted as an excellent crop of wheat, some 22 million tons

“Argentine farmers are expected to plant 6.5 million hectares of wheat in the 2019/20 season, the government said in a report, citing good rainfall as the reason for the increase from its previous forecast of

Brazil: How a half-baked Tax Law could threaten Delivery Apps

New Law for Digital Platforms and the ICMS Tax In Brazil, delivery apps such as iFood, Rappi and Uber Eats are on the rise. The Treasury does not want to look inactively at this development

U.S. Supreme Court Rejects Argentina on YPF Shareholder Suit

“The U.S. Supreme Court rejected appeals from Argentina and its state-run oil producer YPF SA, clearing the way for a shareholder lawsuit to go forward over the 2012 nationalization of the company.”

Bolsonaro to meet President Xi for the first time next Friday in Osaka

“Fire-brand Bolsonaro has softened his stance on Brazil’s largest trading partner since taking office in January and will meet with Xi for 40 minutes on Friday morning before the summit of leaders of the world’s

Lula’s habeas corpus request postponed with no date set

“The request is based on a complaint that Sergio Moro, the judge who convicted Lula, was under suspicion and acted with bias against the ex-president.”

The Economist: “In Argentina, the IMF has been neither toxic nor triumphant”

“Argentina’s government, led by Mauricio Macri, has slashed its fiscal deficit, aiming to balance the budget this year, excluding interest payments and some capital and social spending approved by the IMF. That austerity has helped

Brazil central bank leaves benchmark rate at 6.50%; forecasts of 5.50% by December

“Market expectations of rate cuts this year are building. A weekly survey by the central bank showed that economists now expect the Selic rate to end the year at 5.75%.”

Unemployment in Argentina jumps to 10.1% in the first quarter of 2019

“This is the highest level since current president Mauricio Macri took office, and the worst in thirteen years.”