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[1/3] A 3D printed Meta logo is seen in front of displayed Google logo in this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoBRASILIA, March 28 (Reuters) - Meta Platforms Inc (META.O) and Alphabet Inc's Google (GOOGL.O) defended before the Supreme Court on Tuesday a Brazilian law that holds Internet platforms are not responsible for content posted by users unless they are subject to a court order. If upheld, their appeals could establish jurisprudence that will apply to future cases concerning the responsibility for Internet content, at a time when social media companies are under pressure in Brazil due to a surge in the spread of political disinformation. Google Brasil lawyer Guilherme Sanchez said the company does not wait for court orders to remove content from its platforms. By contrast, in the same period Google received just 1,700 requests for the removal of content from its products.

☆ MercadoLibre to invest $3.6 billion in Brazil this year
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, March 16 (Reuters) - MercadoLibre Inc. (MELI.O) said on Thursday it expects to invest 19 billion reais ($3.60 billion) in Brazil in 2023, 11.5% more than the amount invested in the previous year. The South American e-commerce and financial services giant, which in 2018 had invested one billion reais in the country, has upped its bet in Brazil in recent years, especially after a surge in demand for online shopping caused by the COVID pandemic. The goal, he said, is to service more cities and increase deliveries made within one day - which currently represent about 50% of the total. MercadoLibre does not disclose how much will be invested in each area of the company. ($1 = 5.2710 reais)Reporting by Andre Romani; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Latam's MercadoLibre's net profit rises, fueled by fintech arm
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

Total Payment Volume (TPV) via Mercado Pago grew 79.5% in constant currency (45.3% in dollars) to reach $36.0 billion. In commerce, net revenues hit $1.7 billion, up 22.3% in dollar terms, in the period. The company also said the Gross merchandise volume (GMV) - a key metric in the e-commerce industry - was up 34.7% in constant currency (20.8% in dollars) to hit $9.6 billion. In the fourth-quarter last year, the company posted a net loss of $46.1 million. Reporting by Andre Romani; Writing by Carolina Pulice; Edited by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

☆ The Fed’s favorite inflation gauge will be the big market hurdle of next week
▼ + stars: | 2023-02-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Most important this week is Friday's core personal consumption expenditure (PCE) price index for January. In comparison, the consumer price index (CPI), released this past week, only tracks price changes over time. The market is expecting the core PCE price index to rise 0.4% monthly and 4.9% annually. In addition to the core PCE price index, we're going to be looking closely at the housing and utilities component. Lastly, the January producer price index came in hotter than expected, rising 0.7% from December versus expectations for 0.4% increase.

☆ Brazil antitrust agency to investigate MercadoLibre complaint against Apple
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

The decision to open the investigation into alleged anti-competitive practices by Apple was taken last week based on the complaint filed in December by MercadoLibre, CADE said in a statement. MercadoLibre argued that Apple had imposed a series of restrictions on the distribution of digital goods and in-app purchases. MercadoLibre filed its complaint in Brazil and also Mexico. CADE said antitrust cases against Apple are underway around the world, including in the European Union, Britain, South Korea, Japan, India and Indonesia. Nasdaq-listed MercadoLibre is one of Latin America's largest companies, with a market capitalization of $53.82 billion, according to Refinitiv data.

☆ MercadoLibre in talks with WhatsApp on business messaging payments -CFO
▼ + stars: | 2022-12-07 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +3 min

Facebook owner Meta said last month that it will launch a payments tool in Latin America's largest economy, allowing WhatsApp users to message and buy from a business directly in the chat. "We are in the test phase as one of the partners that processes payments in Brazil," Pedro Arnt told Reuters in an interview. The payments tool in Brazil would allow WhatsApp users to find a company's account through a directory service and make in-app transactions with credit or debit cards. "This could be an opportunity for us to leverage WhatsApp efficiently to generate more sales and better customer contacts," Arnt added. He did not say how advanced the test phase is nor indicate the potential revenue generation for its financial arm Mercado Pago.

☆ MercadoLibre files complaints against Apple for 'anti-competitive practices'
▼ + stars: | 2022-12-05 | by ( Andre Romani | ) www.reuters.com time to read: +3 min

SAO PAULO, Dec 5 (Reuters) - E-commerce giant MercadoLibre Inc (MELI.O) said on Monday it has filed complaints against Apple Inc (AAPL.O) with antitrust regulators in Brazil and Mexico for anti-competitive practices, accusing the U.S.-based firm of abusing what it called a monopoly in the distribution of apps for its devices. MercadoLibre said the complaints against Apple had been filed before Brazil's antitrust watchdog CADE and Mexico's Federal Telecommunications Institute and Federal Economic Competition Commission. Apple declined to comment in Brazil and did not immediately respond to a Reuters request for comment in the United States. Nasdaq-listed MercadoLibre is one of Latin America's largest companies, with a market capitalization of $47.53 billion, according to Refinitiv data. Cohen Imach said the e-commerce giant tried "unsuccessfully" to negotiate with Apple.

☆ Latam's MercadoLibre's net profit rises 36%, fueled by fintech
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 3 (Reuters) - South American e-commerce giant MercadoLibre Inc (MELI.O) on Thursday reported a third-quarter net income up 36% from a year earlier, as it nearly doubled its fintech revenues, helping offset a relative slowdown in online shopping. The Argentina-based company, which operates in countries across Latin America, posted a quarterly net income of $129 million. The company's loan portfolio meanwhile reached $2.8 billion in the quarter, up 4% from the previous quarter, as it expanded its credit business. Over the quarter MercadoLibre said it added 4 million new users, bringing its active use base up 12% to 88 million. This helped net revenues leap 61% in constant currency (45% in dollars) to reach $2.7 billion - in line with Refinitiv estimates.

☆ Stocks shrug off tech's troubles as the Street awaits key inflation data next week
▼ + stars: | 2022-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major indexes all posted gains this week despite a Big Tech beatdown, proving the market can rally without its most valuable stocks. Indeed strength in other sectors — only communication services finished down — helped the overall market to shrug off disappointing earnings results from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META). Alphabet's results fell short of the Street's expectations, but still managed to grow revenue 6% annually off a $65 billion base. (Canada's central bank hiked rates less than expected this week, opting for a 50 basis point hike instead of the expected 75.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Brazil's Nubank to introduce cryptocurrency as part of rewards program
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Oct 19 (Reuters) - Brazil's Nubank on Wednesday announced plans to release its own cryptocurrency as part of a new customer rewards program. Warren Buffett-backed Nubank said in a statement the Nucoin digital currency is expected to be launched in the first half of 2023. Its goal is to offer customers benefits such as discounts and perks as they accumulate Nucoins. Nubank announced in May it would allow its Brazilian customers to make cryptocurrency transactions on its banking app. Register now for FREE unlimited access to Reuters.com RegisterReporting by Gabriel Araujo, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Mercadolibre, Brazilian airline Gol announce logistics partnership
▼ + stars: | 2022-04-19 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterAn aircraft of Gol Linhas Aereas Inteligentes SA prepares to depart from Congonhas airport in Sao Paulo, Brazil September 11, 2017. REUTERS/Paulo Whitaker/File PhotoSAO PAULO, April 19 (Reuters) - Mercadolibre Inc (MELI.O) and Brazilian airline Gol Linhas Aereas Inteligentes SA (GOLL4.SA) on Tuesday announced a 10-year logistics partnership for cargo transportation in the South American country. Register now for FREE unlimited access to Reuters.com RegisterWith the deal, Gol said it expects its logistics unit GOLLOG to add 100 million reais ($21.43 million) in revenue in 2022 and 1 billion reais over a five-year period. The airline also said it will save about 25 million reais in 2022 and 75 million reais in 2023 thanks to the partnership, as it updates its aircraft fleet. ($1 = 4.6654 reais)Register now for FREE unlimited access to Reuters.com RegisterReporting by Aluisio Alves; writing by Gabriel Araujo; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

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