DIRS.INFO The most relevant business & tech news

☆ There's a bull case emerging in Brazilian stocks for long-term investors
▼ + stars: | 2024-06-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +4 min

Recent struggles in Brazilian stocks could be an opportunity for investors to buy into Latin America's largest economy at a discount. There are also other factors that can boost Brazilian stocks going forward, including an attractive valuation and investor positioning. Low valuations and strong consumer Brazilian stocks are very cheap, especially compared to the other emerging markets. Another catalyst for Brazilian stocks may be stronger consumer spending. How to invest Investors in the U.S. can gain exposure to Brazilian stocks via the EWZ ETF and its small-cap counterpart, the EWZS.

Persons: Leonard Linnet, Unibanco, Ed Yardeni, Morgan Stanley, Alexsandro Broedel, Broedel, That's, Itaú's Linnet Organizations: Federal, Brazil —, CNBC, Yardeni Research, Petrobras, Vale Locations: Brazil, U.S, New York, Latin America

☆ A woman in Brazil was arrested after she seemingly attempted to get a dead body in a wheelchair to sign for a bank loan
▼ + stars: | 2024-04-18 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

A woman in Brazil was arrested after seemingly trying to secure a bank loan using her dead uncle's signature. The woman appeared to bring her uncle's body to the bank in a wheelchair and tried to use it to sign papers. Bank staff became suspicious when the man was unresponsive and his head kept lolling, local media said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA woman in Brazil was arrested on Tuesday on suspicion of theft by fraud and violating a corpse after she brought her uncle to a bank to sign a loan agreement, local media outlets reported.

Persons: —, O Dia, Erika de Souza Vieira Nunes, Nunes, that's, Paulo Roberto Braga, Correio Braziliense, Braga, Correio, Christ, Christian Adams, William Jackson Organizations: Bank, Service, Itaú Bank, Economics Locations: Brazil, Rio, Rio de Janeiro, South America

☆ Brazilian police detain woman suspected of taking a dead man to withdraw bank loan
▼ + stars: | 2024-04-17 | by ( Alessandra Castelli | ) edition.cnn.com time to read: +2 min

CNN —Police in Brazil have detained a woman suspected of wheeling a dead man, who she said was her uncle, to a bank to withdraw a four-figure loan. Footage of the woman’s encounter with the bank has sparked a nationwide discussion in Brazil after going viral on social media. But the elderly man in the video – filmed by a bank attendant – remains unresponsive. When paramedics arrived, they concluded that the man had been dead for a couple of hours and must have been dead when he arrived at the bank. Police say they are still trying to establish the relationship between the woman and the dead man.

Persons: “, Fabio Luis Souza Organizations: CNN — Police, Itau Bank, CNN, de Janeiro Civil, Police, CNN Brasil, ” Authorities Locations: Brazil, Rio de Janeiro, de Janeiro

☆ 8 more of our stocks report earnings next week. Here's what we want to see
▼ + stars: | 2024-02-03 | by ( Zev Fima | ) www.cnbc.com time to read: +13 min

The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.

Persons: Estee Lauder, Eli Lilly, Mounjaro, Nelson Peltz, Estée Lauder, Tyson, CARR, Jacobs, Willis Towers Watson, Edwards, Walt Disney, Oscar Health, Philip Morris, Armour, BAX, BILL, Jim Cramer's, Jim Cramer, Jim, George Frey Organizations: Big Tech, Dow Jones Industrial, Nasdaq, PMI, Apple, Starbucks, Procter, Gamble, GE Healthcare, DuPont, Linde, Ford, General Motors, Trian Partners, Disney, ESPN, Wynn Resorts, Wynn, Vegas, Prix, Estée Lauder Companies, Caterpillar, McDonalds Corp, Allegiant Travel, Bowlero Corp, Tyson Foods, TSN, Air Products & Chemicals, IDEXX Laboratories, CNA Financial Corp, CNA, Timken Company, Graham Corporation, Mesa Laboratories, Sphere Entertainment, Loews Corp, Technologies, Vertex Pharmaceuticals, Semiconductors, Simon Property Group, Amkor Technology, FMC Corporation, FMC, BellRing Brands, Crown Holdings, ChampionX Corporation, Golub Capital BDC, Flexsteel Industries, Kilroy Realty Corp, Gladstone Capital Corp, Unibanco, S.A, Snack Foods Corp, Kimball Electronics, Skyline Corp, Cabot Corporation, Simpson Manufacturing Co, Varonis Systems, Co, GE HealthCare, Linde plc, LIN, Spotify Technology S.A, BP, Hertz Global Holdings, AeroSystems Holdings, Toyota Motor Corp, Cummins, CMI, Software Technologies, AGCO Corporation, Carrier Global Corporation, Lear Corp, CONSOL Energy, Centene Corporation, Gartner, Arcbest Corp, CTS Corporation, Energizer Holdings, Hamilton Lane Incorporated, KKR, Precision Drilling Corporation, Frontier Group Holdings, Waters Corp, Alfa Laval, Aramark Holdings Corp, FirstService Corporation, Garden Sports Corp, New Jersey Resources Corp, nVent Electric plc, PJT Partners, Resources, Sensata Technologies, Ford Motor Company, Enphase Energy, Grill, VF Corp, Edwards Lifesciences Corp, Gilead Sciences, Lumen Technologies, Cognizant Technology Solutions Corp, Weatherford International plc, Amcor plc, Arrowhead Pharmaceuticals, Advanced Energy Industries, Uber Technologies, CVS Health, Roblox Corporation, Ares Capital Corp, Bunge, XPO Logistics, Scotts Miracle, Gro Company, Berry Global, Flex LNG, Equinor ASA, Griffon Corporation, OneMain Holdings, Brookfield Asset Management, Emerson Electric Co, Hilton Worldwide Holdings, Reynolds Consumer Products, Silicon Laboratories, Brands, Sciences, CDW Corp, Fox Corporation, WYNN, PayPal, Arm Holdings plc, ARM, Axcelis Technologies, Mattel, Paycom, Annaly Capital Management, McKesson Corp, Health Corporation, O'Reilly Automotive, Allstate Corp, Fluence Energy, Power Systems, Digital Turbine, Blue Bird Corp, Everest Group, Omega HealthCare, Coty, COTY, ConocoPhillips, Cameco Corp, Philip Morris International, Spirit Airlines, Hershey Company, Lightspeed Commerce, Aurora Cannabis, Lincoln National Corp, P, Tenet Healthcare Corp, Asbury Automotive Group, Arrow Electronics, Baxter International, PetMed, Boyd Gaming Corp, FirstEnergy Corp, Motorola Solutions, Terex Corp, PepsiCo, Growth, AMC Networks, Owl, American Pipeline, TELUS International, Magna International, Newell Brands, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, China, Macau, Wynn Macau, Valvoline, VVV, ALFVY, Madison, New Jersey, Gilead, Ceridian, ORLY, Paycor, Aurora, Provo , Utah

☆ Brazilian lender Itau launches crypto trading
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Dec 4 (Reuters) - Brazilian bank Itau Unibanco (ITUB4.SA) on Monday launched a cryptocurrency trading service for clients of its investment platform, making the nation's largest lender the latest local player to enter the market for the digital asset's exchange. "It starts with bitcoin, but our overarching strategic plan is to expand to other crypto assets in the future," he said, adding any expansion would depend on how crypto regulation in the country evolved. Itau argues it will stand out from rivals as it also acts as a custodian, safeguarding users' assets, Antunes said. The move comes about a month after two local players announced they were leaving the crypto market. Brokerage and investments company XP (XP.O) did not say why it was shutting down its crypto service, but financial services firm PicPay, owned by conglomerate J&F which also controls meatpacker JBS (JBSS3.SA), cited regulatory uncertainties.

Persons: Guto Antunes, Itau, Antunes, meatpacker, Paula Arend Laier, Andre Romani, Kylie Madry, Chris Reese Organizations: SAO PAULO, Monday, Thomson Locations: bitcoin, Brazil

The economy is likely already in recession and is expected to contract again next year. Shortly after being sworn in as economy minister, Massa in August 2022 pledged to stop printing money to fight inflation. "Markets will likely prefer a Milei victory simply because he is more credible on delivering the fiscal adjustment." "Every investor understands that the macroeconomic adjustments that Argentina needs will inevitably translate into short-term pain." For investors, Argentine stocks traded in New York (.MIAR00000PUS) have been a beacon of hope, up near 15% year to date.

Persons: Sergio Massa, Javier Milei, Luis Robayo, Pilar Tavella, Alejo Czerwonko, Massa, Carlos de Sousa, UBS's, JPMorgan's Diego Celedon, Celedon, Rodrigo Campos, Adam Jourdan, Lisa Shumaker Organizations: por la Patria, La Libertad, University of Buenos, Law School, Global, Peronist, Barclays, Reuters Graphics Reuters, Argentina, Monetary Fund, Itau, IMF, Emerging, UBS Global Wealth Management, Vontobel Asset Management, Argentine, UBS, Thomson Locations: Argentina, University of Buenos Aires, Buenos Aires Argentina, New York, Argentine, outperforming

MEXICO CITY, Oct 26 (Reuters) - Mexican distiller Becle (CUERVO.MX), the world's largest tequila producer, lost $1.54 billion in market capitalization from a share selloff on Thursday after a stronger peso battered profits. Mexican firms' foreign income was devalued by gains in the peso, which strengthened 14% to the dollar over the year ending Sept. 30. Becle said it would continue shifting into the premium-priced liquor market and planned capital spending in the lower range of $200 million to $225 million this year. When stripping out the effects of foreign exchange, annual sales should still grow by a high-single digit percentage, Becle said. ($1 = 18.1430 Mexican pesos)Reporting by Sarah Morland; Editing by Kylie Madry and Rod NickelOur Standards: The Thomson Reuters Trust Principles.

Persons: Becle, Jose Cuervo, Gordon Dron, Morgan, Sarah Morland, Kylie Madry, Rod Nickel Organizations: MEXICO CITY, Itau, J.P, Thomson Locations: MEXICO, U.S, Europe, America

☆ Investors should 'buy the dip' in Nvidia shares, Itau BBA analysts say
▼ + stars: | 2023-10-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Shares of chipmaker Nvidia fell sharply earlier this month after the U.S. government announced new restrictions on exporting advanced artificial intelligence chips to China. Investment bank Itau BBA's analysts believe the new export controls could reduce Nvidia's revenues from China by about 10% in 2025. However, the analysts say the stock's pullback has likely already priced in most or all of that impact. NVDA 1M mountain Itau BBA's $600 price target for Nvidia points to more than 40% upside from the current share price. In response to the plans for new export restrictions, Citi analyst Atif Malik cut his Nvidia price target to $575 from $630.

Persons: Thiago Alves Kapulskis, Atif Malik, Morgan Stanley's Joseph Moore, —, Samantha Subin, Michael Bloom Organizations: Nvidia, U.S, Investment, U.S . Commerce Department, Citi Locations: China, Saudi Arabia

☆ Apple bear says he's not shorting the stock just yet despite China concerns. Here's why
▼ + stars: | 2023-09-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Apple shares fell sharply last week on reports that China is restricting government employees from using iPhones and other Apple devices for work purposes. Why short Apple? However, despite the China worries, the Itau BBA analyst is holding off on shorting the stock for now. Apple is expected to launch its new iPhone 15, Apple Watch Series 9, an updated AirPods model, and an iPad mini 7. The trading days after the launch event have historically been volatile.

Persons: Thiago Kapulskis, Kapulskis Organizations: Apple, Nike, Bank of America Locations: China, American, Xinjiang

☆ Profits for Brazil's Itau Unibanco up 14%, beat expectations
▼ + stars: | 2023-08-07 | by ( Peter Frontini | ) www.reuters.com time to read: +2 min

A man is reflected in an Itau branch window in Rio de Janeiro, Brazil April 29, 2019. REUTERS/Sergio Moraes/File PhotoSAO PAULO, Aug 7 (Reuters) - Brazilian lender Itau Unibanco (ITUB4.SA) reported a 14% increase in second-quarter net profit from a year earlier, beating expectations, while also keeping default rates stable, the bank said in a securities filing on Monday. Latin America's biggest private sector lender posted recurring net profit of 8.74 billion reais ($151 million) during the April-to-June period, while analysts polled by Refinitiv expected 8.63 billion reais. Delinquency, measured by a 90-day default ratio, came in at 3.0%, essentially flat compared to the first quarter. Credit costs during the quarter grew 25% from a year earlier to reach 9.44 billion reais, as the lender set aside more money for customers defaulting on loans.

Persons: Sergio Moraes, Itau, Alexsandro Broedel, Peter Frontini, Carolina Pulice, David Alire Garcia, David Gregorio, Kim Coghill Organizations: REUTERS, SAO PAULO, Citi, Santander, Bradesco, Thomson Locations: Rio de Janeiro, Brazil

☆ Brazil's Ambev Q2 net profit falls 15%, misses estimates
▼ + stars: | 2023-08-03 | by ( Natalia Siniawski | ) www.reuters.com time to read: +2 min

REUTERS/Paulo WhitakerAug 3 (Reuters) - Brazilian brewer Ambev (ABEV3.SA) on Thursday reported a 15.2% decline in second-quarter net profit, narrowly missing market forecasts. The subsidiary of Belgium's Anheuser-Busch InBev (ABI.BR) posted profit of 2.60 billion reais ($540.34 million), below the 2.68 billion reais average estimate of analysts polled by Refinitiv. Revenue rose 20% from the same period a year earlier to 18.9 billion reais, as cost pressures continued to ease but missing the 19.80 billion reais consensus view. Earnings before interest, tax, depreciation and amortization (EBITDA) grew in all business units, though sales volume declined 2.2%. "Our top-line performance remained resilient and cost pressures continued to decelerate leading to bottom-line growth," CEO Jean Jereissati said in a statement.

Persons: Paulo Whitaker, Ambev, Jean Jereissati, Itau, Natalia Siniawski, Jane Merriman, Christopher Cushing, Tomasz Janowski Organizations: Bebidas, REUTERS, Belgium's Anheuser, Busch InBev, Refinitiv, Petrobras, PETR4, Thomson Locations: Companhia, Fortaleza, Brazil, Central America, Caribbean, Panama, Dominican Republic, Vale, VALE3

☆ Brazil's Localiza launches $935.5 mln share offering to expand fleet
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, June 16 (Reuters) - Brazilian car rental company Localiza (RENT3.SA) said on Friday it will launch a follow-on share offering aimed at raising as much as 4.5 billion reais ($935.51 million) to expand its car fleet and service network. The primary offering will initially comprise 60.02 million new shares, Localiza said in a securities filing, but could be increased by up to 12.5% if demand allows it. Considering its closing price of 66.64 reais per share on Thursday, the offering would total around 4 billion reais, the company said. Shares of Localiza slipped around 2% after the move was announced, making it one of the biggest fallers on Brazil's Bovespa stock index (.BVSP). ($1 = 4.8102 reais)Reporting by Gabriel Araujo; Editing by Steven Grattan, Louise Heavens and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Localiza, Bradesco, BTG Pactual, Gabriel Araujo, Steven Grattan, Louise Heavens, Conor Humphries Organizations: SAO PAULO, JPMorgan, UBS Brasil, Santander, Bank of America, Banco Safra, XP, Thomson Locations: Santander Brasil

☆ Giant Louise Bourgeois spider sculpture sells for record $32.8 million at auction
▼ + stars: | 2023-05-19 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +1 min

CNN —A 10-foot-high bronze spider has set a new auction record for a sculpture by a woman artist, Sotheby’s announced Friday. Louise Bourgeois’ 1996 “Spider,” which stands at over 10 feet tall and more than 18 feet across, sold for $32.8 million including fees at a sale in New York on Thursday evening. The sale also set a new auction record for a work by Bourgeois. In May 2019, another sold for $32.1 million with fees at Christie’s in New York. The sculpture sold on Thursday evening was previously owned by Brazil’s Fundação Itaú.

REUTERS/Dado Ruvic/IllustrationApril 24 (Reuters) - A quarter into record layoffs, investors in U.S. tech giants will scrutinize if the cost cuts boosted profits to their satisfaction, while the companies emphasize how artificial intelligence will be their next growth driver. Microsoft Corp (MSFT.O), Google parent Alphabet Inc (GOOGL.O), Instagram owner Meta Platforms Inc (META.O) and Amazon.com Inc (AMZN.O) all report quarterly results this week. From a year earlier, profit is expected to slump nearly 16%, on average, with Microsoft expected to perform the least poorly with a 0.5% slip. These three companies, along with Amazon, said between November and March they would slash 70,000 jobs in a rapidly weakening economy, following a pandemic-led hiring boom. "There are expectations that companies could create or do even more with AI ... every tech investor is expecting those companies to be in the frontier."

☆ Meta's WhatsApp rolls out business payment tool in Brazil
▼ + stars: | 2023-04-11 | by ( Andre Romani | ) www.reuters.com time to read: +2 min

SAO PAULO, April 11 (Reuters) - Meta Platforms (META.O) on Tuesday began rolling out its payments tool to small and medium-sized firms through its WhatsApp messaging platform in Brazil, part of Meta's strategy to use the Brazilian market as a key test space for business messaging. The development of business messaging has become all the more urgent as Meta's core advertising business has stalled. The tool will initially be available for some merchants that use WhatsApp Business. While Brazil is the first country to have the service launched for small businesses using the free version of WhatsApp Business, in India, WhatsApp's largest market, users can make payments to businesses that use the application's paid API. WhatsApp users in Brazil have been able to make payments between users through the app since 2021, and last year, Meta launched a commercial directory for WhatsApp in Brazil, allowing users find companies with business messaging accounts.

☆ Uber to offer Tembici's bike-sharing service in Latin America
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, April 5 (Reuters) - Uber Technologies Inc (UBER.N) on Wednesday announced a deal with Brazilian bike-sharing company Tembici to make electric and common bicycles available on its app in Latin America amid a push for greener initiatives. "This partnership underscores the important role that car-free options are increasingly playing in Uber's strategy to achieve zero carbon emissions," said Annie Duvnjak, Uber's global micromobility general manager. The company expects to end 2023 with 30,000 bicycles on Latin American streets, a third of them electric. Uber said Tembici and Itau bike docking stations would "soon" appear in its app, but did not provide a specific date. ($1 = 5.0961 reais)Reporting by Gabriel Araujo Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ These are Morgan Stanley's favorite Latin American stocks
▼ + stars: | 2023-03-03 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

Latin America stocks are off to a solid start this year, and Morgan Stanley sees some names in the region posting strong gains in the near term. Latin American stocks got a boost last year as commodity prices rose due to the global economic reopening and the Ukraine-Russia war breaking out. Brazilian bank Itau Unibanco made the list, with Morgan Stanley expecting a total return of 54% this year, including dividends. "We think Itaú's strategic foresight and operational capabilities represent a meaningful competitive advantage in the marketplace," Morgan Stanley said in the note. However, Morgan Stanley said Credicorp "remains a top-class banking franchise that could navigate the current challenging based on management's execution capabilities."

☆ BTG Pactual joins Brazilian lenders hit by post-Americanas provisions
▼ + stars: | 2023-02-13 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

SAO PAULO, Feb 13 (Reuters) - Banco BTG Pactual SA (BPAC3.SA) on Monday became the latest Brazilian lender to be affected by bad credit provisions due to what it called a "specific, widely publicized event," likely referring to the bankruptcy of Americanas SA (AMER3.SA). BTG reported a quarterly net profit of 1.64 billion reais ($314.5 million), slightly down from 1.74 billion a year earlier and below the market consensus of 2.27 billion, according to analysts polled by Refinitiv. BTG's "good cost discipline" in the quarter helped reduce the impact of the provisions, JPMorgan said. "Despite all the challenges, we expect higher returns in 2023, with greater operating leverage and possibly even higher capital and liquidity levels," BTG Chief Executive Officer Roberto Sallouti said. ($1 = 5.2151 reais)Reporting by Gabriel Araujo; Editing by David Holmes, Kirsten Donovan and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Americanas accounting scandal was a 'fraud,' says CEO of Brazil's Itau
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Feb 8 (Reuters) - The chief executive of Brazil's biggest private lender Itau Unibanco (ITUB4.SA) said on Wednesday that the accounting inconsistencies that led retailer Americanas SA (AMER3.SA) to request bankruptcy protection represent a case of 'fraud'. Milton Maluhy Filho's remarks came after Itau, which had a multi-million-dollar exposure to Americanas, had to set aside more cash for bad loans in the fourth quarter. Maluhy added that Itau has not identified any case similar to that of Americanas, which reported around $8 billion in debt after disclosing "inconsistencies" in its accounting. Reporting by Aluisio Alves; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Santander Brasil's Q4 net profit slumps as loan-loss provisions bite
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Feb 2 (Reuters) - Banco Santander Brasil SA (SANB3.SA) on Thursday posted a slump in fourth-quarter net profit as loan-loss provisions rose against a backdrop of higher interest rates and deteriorating credit conditions. The bank's quarterly net profit reached 1.69 billion reais ($334.3 million), down 56% from the previous year, as provisions for bad credit nearly doubled amid higher interest rates. He said net interest income came under pressure from changes in the product mix and higher interest rates, a trend set to persist throughout this year. Santander Brasil's loan-loss provisions reached 7.36 billion reais, pressured by bad credit in loans to individuals, the bank said. In the full year of 2022, its net profit dropped 21.1% from the previous year to 12.9 billion reais, while full-year provisions rose 72.7% and net interest income fell 6.8%.

☆ Large Brazilian banks may set aside around $890 mln for Americanas losses in Q4
▼ + stars: | 2023-02-01 | by ( Aluisio Alves | ) www.reuters.com time to read: +1 min

SAO PAULO, Feb 1 (Reuters) - Brazilian banks may start setting aside provisions for losses with retailer Americanas already in the fourth quarter of 2022, analysts say. Banks such as BTG Pactual , Bradesco (BBDC4.SA), Santander Brasil , Itaú Unibanco Holding (ITUB4.SA) and Banco do Brasil (BBAS3.SA) have around 15 billion reais in loans with Americanas, according to analyst reports. Analysts estimate the banks may provision around 30% of their loans in the fourth quarter, which would be equivalent to 4.5 billion reais ($890 million), even with bankruptcy protection taking place in January, as a precautionary measure allowed by the Brazilian central bank. The first Brazilian bank to release fourth quarter earnings, on Thursday, is Banco Santander Brasil. ($1 = 5.0544 reais)Reporting by Aluisio Alves; Writing by Tatiana Bautzerd; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

SAO PAULO, Jan 12 (Reuters) - Shares in Brazilian retailer Americanas SA (AMER3.SA) fell more than 75% on Thursday after its chief executive officer resigned citing the discovery of "accounting inconsistencies" totaling 20 billion reais ($3.9 billion). Rial attributed the inconsistencies to differences in accounting for the financial cost of bank loans and debt with suppliers. The outgoing CEO said Americanas would likely need a capital increase, though noted he didn't expect a short-term impact from the inconsistencies on its cash position. Analysts at Santander and JPMorgan, who rated Americanas "Neutral" and "Underweight" respectively, also forecast a major negative reaction to the news. PwC, Americanas' auditor, declined to comment on the accounting inconsistencies referred to by Rial.

☆ Latam M&A expected to recover in 2023, IPOs may take longer
▼ + stars: | 2022-12-27 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +4 min

SAO PAULO, Dec 27 (Reuters) - After a sharp drop in Latin American deals in 2022, bankers expect a slow recovery next year, led by M&A. The volume of M&A deals in Latin America fell 35% this year, to $86 billion, according to Refinitiv data. Bankers predict M&A volumes will grow up to 20% in the region next year as Latin America becomes more relevant among emerging markets. Latin America has a great opportunity to increase its share among emerging markets, said Latam M&A co-head at Citigroup Nicolas Roca. Share offerings fell 61% in Latin America this year to $13.4 billion, according to Refinitiv data through December 26.

☆ How Ana Botín can defeat the Santander sceptics
▼ + stars: | 2022-12-21 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

LONDON, Dec 21 (Reuters Breakingviews) - Investors aren’t buying what Ana Botín is selling. That’s striking because analysts expect Santander to earn a respectable 11% return on tangible equity (ROTE) over the next 12 months. One way to express the dissonance between those numbers is to infer the return investors require to hold the bank’s shares. To shed that discount, Botín must prove Santander is the best owner of its component bits. The group generated an annualised return on tangible equity of almost 14% in the first nine months of 2022.

☆ Analysis: Mexican companies could resort to more spinoffs to enhance market value
▼ + stars: | 2022-11-22 | by ( Valentine Hilaire | ) www.reuters.com time to read: +4 min

Mexican telecommunications giant America Movil (AMXL.MX) kicked off the trend late last year when its shareholders approved the spinoff of its cell tower business. Some analysts said both Alfa and Televisa may consider further spinoffs as they look to boost their depressed valuations. Other companies, like Coke bottler and retailer Femsa (FEMSAUBD.MX), whose shares are down 3.3% year-to-date, after gaining 6% in 2021, may follow suit. Alfa lost 2.69% the day after its shareholders approved the Axtel spinoff, while Televisa's shares advanced 0.86% the day after it revealed plans for a similar move. Televisa, meanwhile, could follow its sports spinoff with either its editorial or magazine businesses, two analysts said.

Search resuls for: "Itau"

25 mentions found