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☆ A rare bronze chandelier bought for $300 in lucky find sold for $3.5 million at auction
▼ + stars: | 2023-03-04 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

A chandelier purchased at an antique store for just $300 has sold at auction for $3.5 million. Artist John Craxton stumbled across the Alberto Giacometti chandelier in a London shop in the 1960s. Artist John Craxton stumbled across the Alberto Giacometti chandelier in a London antique store in the 1960s, Christie's auction house explained. In an auction of Craxton's art collection held on February 28, the bronze chandelier, made in 1946, outsold its top estimate of £2.5 million ($3 million). It is unknown how it ended up in the antique shop in London, said Christie's.

☆ Exclusive: Mexico's Pemex increased gas flaring at top field, despite pledge to stop
▼ + stars: | 2023-02-28 | by ( Stefanie Eschenbacher | ) www.reuters.com time to read: +7 min

[1/3] Gas flare is seen at the state energy company Petroleos Mexicanos (Pemex) Papan plant, in Tierra Blanca, Veracruz state, Mexico February 18, 2023. The pledge to stop burning gas at the Ixachi field came after months of pressure over flaring from the hydrocarbon regulator, environmentalists and Mexico’s most important trade partner, the United States. But Pemex has repeatedly missed gas production targets, blaming it on missing infrastructure. Two senior company sources told Reuters last November Pemex would rather pay fines than deal with gas flaring problems. Pemex's updated business plan for 2023 to 2027, released in December, reiterated promises to reduce emissions but focused more on oil and gas production as well as refining.

☆ Biden nominates former MasterCard CEO Ajay Banga to head World Bank
▼ + stars: | 2023-02-23 | by ( ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden on Thursday nominated former MasterCard CEO Ajay Banga to become president of the World Bank, hailing his business experience in his native India and his commitment to mobilizing private funds to expand financial inclusion and help developing countries grapple with climate change. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," Biden said in a statement. "Raised in India, Ajay has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity." Biden singled Banga's decades of experience building global companies and building public-private partnerships to tackle urgent challenges such as climate change, and said he had a proven track record working with global leaders. "He can really be a force for change," Moreno said, noting that Banga enjoyed the trust of financial markets whose support was urgently needed to help raise the trillions of dollars needed to deal with global challenges.

☆ Argentina government loses Senate power after senators exit coalition
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, Feb 22 (Reuters) - Argentina's ruling Peronist coalition was dealt a blow on Wednesday when four of its senators announced their departure, weakening the government's sway in the Senate just eight months before high-stakes general elections. Senators Edgardo Kueider, Guillermo Snopek, Carlos Espinola and Maria Eugenia Catalfamo said they would leave the center-left alliance that supports President Alberto Fernandez and his powerful vice president, Cristina Kirchner. The departures from Fernandez's coalition leave it with 31 seats in the 72-seat Senate. The Peronists were badly beaten in 2021 congressional elections, which showed the conservative opposition well ahead in popular support. (This story has been corrected to fix the number of months until general elections to eight from six in paragraph 1)Reporting by Nicolás Misculin; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ Ransomware gang leaked Los Angeles student health records online
▼ + stars: | 2023-02-23 | by ( Suzanne Smalley | ) www.reuters.com time to read: +2 min

Feb 23 (Reuters) - Health records for about 2,000 current and former Los Angeles school students have been published to the dark web following a ransomware attack last year, the school district said in a statement on Wednesday. The attacks were first widely reported last year, but the compromise of sensitive health records only came to light in recent days. Last year, Los Angeles School Superintendent Alberto Carvalho said the Russian ransomware gang Vice Society had claimed responsibility for the hack and placed the material online in October. Los Angeles Unified, the second largest school district in the United States, said its investigation is ongoing and that it continues to assess the September 2022 cyberattack. Kelanic told Reuters that approximately 2,000 student assessment records "have been confirmed as part of the attack."

☆ Once tortured by criminals, Mexico 'survivor' dog looks to win top pet contest
▼ + stars: | 2023-02-23 | by ( Alberto Fajardo | ) www.reuters.com time to read: +2 min

Rescued as a one-year-old with his front limbs destroyed, Pay de Limon (Lemon Pie) found much-needed love at the Milagros Caninos sanctuary, a shelter south of Mexico City, which says he is thriving 12 years later. "He is a survivor of human cruelty and organized crime groups," Patricia Ruiz, founder of Milagros Caninos, told Reuters. Found abandoned in a dumpster in Mexico's central Zacatecas state, a hotbed for cartels and organized crime, Lemon Pie was later transported to the safety of the shelter in the capital. Now, he is ready to take a shot in the online contest for Americans' most dashing dog, albeit a non-native contestant. The contest, America's Favorite Pet, is open to pets on the American continent and runs as part of a charity fundraiser.

☆ Buenos Aires opposition mayor Larreta set to join election race
▼ + stars: | 2023-02-22 | by ( Jorge Otaola | ) www.reuters.com time to read: +2 min

BUENOS AIRES, Feb 22 (Reuters) - Horacio Rodríguez Larreta, mayor of Argentine capital Buenos Aires, is set to announce his 2023 presidential election bid, a spokesman for the conservative opposition politician said on Wednesday, as a fragmented field of runners starts to emerge. Larreta, a 57-year-old economist who has led the city since 2015, will seek to represent the main Together for Change opposition coalition, where he faces likely internal competition from former Minister of Security Patricia Bullrich. The conservative coalition internal race will likely see Larreta take on Bullrich who has long signaled she will be a candidate, as well as former Buenos Aires provincial governor Maria Eugenia Vidal and politician Elisa Carrió. Argentine President Alberto Fernández has said he wants to seek re-election, while powerful former president and current Vice President Cristina Fernández de Kirchner ruled out being a candidate late last year, though could pull off a surprise. Reporting by Jorge Otaola; Writing by Maximilian Heath; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

[1/2] Builders work at the construction site of an energy-saving building, making apartments more energy-efficient under the government's "superbonus" incentives, in Rome Italy, February 1, 2023. Banks have said there are more tax credits in circulation than they can deduct from their own tax bills. "We want to persuade the banks and other players to take all the stranded credits," Meloni said at the weekend, defending her decision to suddenly end further payments via tax credits. The move was triggered by an EU decision to include the tax credits in deficit calculations, potentially blowing budget plans dramatically off course. "If we had left the superbonus as it is, we would have had no money left in the budget for anything else," Meloni said.

BUENOS AIRES, Feb 14 (Reuters) - Argentines are increasingly feeling the impact of one of the world's highest inflation rates, with annual price rises nearing 100%, straining people's budgets as the cost of food, gas and services far outstrips salaries. The South American country, which has grappled with high inflation for years, is set to announce January data on Tuesday, with monthly inflation expected to accelerate to around 6% and the 12-month figure nearing three digits. "The truth is that I live day to day, I look for low prices, I go to markets. Argentines are fed up with inflation and many blame poor economic management and money printing by the government. Brian Muliane, a 33-year-old chiropractor, said that between inflation and taxes his business struggled to survive.

☆ Abortion rights in Spain over the past decades
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

Here is a timeline of abortion rights in Spain over the past few decades:1985Abortion is first decriminalised in the cases of malformed foetuses, rape, or potential mental or physical risks to the mother. The party's campaign promises include reforming the abortion law. 2013A new abortion law draft, even more restrictive than the one passed in 1985, is released. The draft allows abortion only in the case of rape or if the pregnancy poses a serious physical or mental health risk to the mother. 2022The left-wing coalition government reinforces abortion rights by eliminating parental consent for women aged 16-17 who wish to terminate their pregnancy.

☆ Argentina likely to see inflation tick up this year -analysts
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

The bank's latest REM survey compares to a December forecast of a 98.4% inflation rate by the end of this year. The government of embattled President Alberto Fernandez sees creeping annual inflation for 2023 significantly lower, at just 60%, according to a budget projection. The survey's inflation forecast sees some relief by 2024, however, with prices rising by 79.6%, but up from its previous estimate of 75%. The analysts surveyed expect January's inflation rate to come in at 5.6%. The monthly rise in prices last December stood at 5.1%, according to the official IPC price index.

☆ Brazil's Americanas requests financing of at least $197 mln -filing
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

Jan 31 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA) has requested debtor-in-possession financing of at least 1 billion reais ($197.12 million) as part of its bankruptcy process, according to a securities filing Tuesday. The financing aims to help the company maintain the "normal course of its business and reinforce its liquidity," the firm said. Americanas, backed by the billionaire trio that founded investment firm 3G Capital, entered bankruptcy protection this month after disclosing "inconsistencies" in its accounting, leading top investors such as BlackRock (BLK.N) and Capital Group to scale back their positions in the firm. It added it has been in talks with reference shareholders - Brazilian billionaires Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira, the founders of 3G Capital - about the possibility of them subscribing up to the totality of the financing minimum amount. ($1 = 5.0731 reais)Reporting by Carolina Pulice and Gabriel Araujo; Editing by Isabel Woodford and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

On the final leg of his South American tour, Scholz on Monday became the first foreign leader to visit Lula since his inauguration. But he grew stony-faced as his fellow leftist leader expounded his views on the Ukraine war. Lula also said Brazil would not provide ammunition to Ukraine for German-made Gepard anti-aircraft guns, as reportedly requested by Germany. In both countries, Scholz visited memorials to the victims of their military dictatorships that he said underscored the need to fight for democracy and freedom. In Brasilia, he expressed his full solidarity for Lula and Brazil at large after Bolsonaro supporters earlier this month stormed government buildings.

☆ Brazilian court orders seizure of emails of bankrupt retailer Americanas
▼ + stars: | 2023-01-26 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +2 min

SAO PAULO, Jan 26 (Reuters) - A Brazilian court has ordered the seizure of all corporate emails of managers and board members from bankrupt retailer Americanas SA (AMER3.SA) sent and received over the last 10 years, according to documents seen by Reuters. Bradesco said it was seeking evidence for potential litigation against Americanas, its managers, and potentially its controlling shareholders over "abuse of power." Americanas' largest shareholders are the billionaire founders of 3G Capital, Jorge Paulo Lemann, Carlos Alberto Sicupira and Marcel Telles. The judge also ordered the seizure of all emails of employees in the finance and accounting division. Americanas is one of Brazil's largest retailers and has been in business for over 90 years.

☆ New museum in Mexico spotlights endangered axolotl salamander
▼ + stars: | 2023-01-26 | by ( Alberto Fajardo | ) www.reuters.com time to read: +3 min

[1/6] An axolotl (Ambystoma mexicanum) swims in an aquarium at the new Axolotl Museum and Amphibians Conservation Centre, which is to promote the protection and study of this endangered species, at Chapultepec Zoo in Mexico City, Mexico, January 25, 2023. REUTERS/Henry RomeroMEXICO CITY, Jan 26 (Reuters) - A new museum and conservation center dedicated to Mexico's critically endangered axolotl salamander is highlighting the amphibian's remarkable story that has captured the attention of scientists and the public alike. With an impressive ability to heal itself, the axolotl (pronounced ah-sho-LO-tul) salamanders were showcased in the exhibit, which opened on Saturday, at Mexico City's Chapultepec Zoo. For decades, researchers have marveled at how the axolotl can regenerate amputated limbs and damaged body tissue, even its heart and brain. While the axolotl native to Mexico City's southern Xochimilco district is especially well-known, Gual points to 16 other kinds of axolotls that also call Mexico home, each one "like a wetlands ambassador."

☆ Exclusive: JPMorgan looking to finance Italy's Serie A for up to 1 bln euros -sources
▼ + stars: | 2023-01-26 | by ( Elvira Pollina | ) www.reuters.com time to read: +4 min

The sources said the 20 clubs that comprise Serie A were informed of the interest by the U.S. bank at a closed-door meeting of their top executives on Thursday. Serie A has been looking at options to extract more money from its media rights, which account for roughly half the revenues of its clubs. Like other European soccer leagues, Serie A lags England's Premier League in terms of income and is looking at ways to revive its global appeal. The sources said Serie A clubs learnt on Thursday that Apollo Global Management (APO.N) had also come forward, without providing further details. Prior to that meeting, clubs are due to discuss in mid-February the sale process of the media rights, which is expected to start later this year.

☆ Nick Clegg led Meta's decision to reinstate Trump to Facebook and Instagram. Here's how the former UK deputy prime minister charmed his way into Mark Zuckerberg's inner circle.
▼ + stars: | 2023-01-26 | by ( Philip Webster | ) www.businessinsider.com time to read: +18 min

Nick Clegg has risen quickly to become one of Mark Zuckerberg's closest confidants at Meta. Clegg, a former UK deputy prime minister, led the decision to reinstate Donald Trump to Facebook. It was updated on February 16, 2022 following the news that Nick Clegg had been promoted to the role of President for Global Affairs. In a challenging economic climate, the Lib Dems and their Conservative coalition partners voted to raise tuition fees. Nick Clegg (left) and Chris Huhne appearing on the BBC's "The Andrew Marr Show" in October 2007.

☆ In Peru, protesters were tear-gassed after president called for truce
▼ + stars: | 2023-01-25 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

LIMA, Peru — Thousands of protesters took to the streets of Peru’s capital and were met with volleys of tear gas and pellets amid clashes with security forces just hours after President Dina Boluarte called for a “truce” in almost two months of protests. “We can’t have a truce when she doesn’t tell the truth,” Blanca España Mesa, 48, said of Peru’s president. Even though her eyes were watering from the tear gas, España Mesa said she was “happy because a lot of people came today. On Tuesday, police fired round after round of tear gas as they blocked the passage of protesters, who seemed more organized than before. “Peru has managed to fly under the radar,” said Marina Navarro, executive director of Amnesty International Peru.

☆ Classified records pose conundrum stretching back to Carter
▼ + stars: | 2023-01-25 | by ( ) www.cnbc.com time to read: +9 min

The mishandling of classified documents is not a problem unique to President Joe Biden and former President Donald Trump. He contrasted that pattern for top officials to senators, who are required to retain classified materials in secure rooms at the Capitol. It's notable that Carter signed the Presidential Records Act in 1978 but it did not apply to records of his administration, taking effect years later when Ronald Reagan was inaugurated. Former President Bill Clinton's office said, "All of President Clinton's classified materials were properly turned over to NARA in accordance with the Presidential Records Act." The power to change or amend how classified documents are handled rests largely with the president.

☆ Argentina and Brazil are discussing plans for a common currency — analysts can scarcely believe it
▼ + stars: | 2023-01-24 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Argentina President Alberto Fernandez (R) and Brazil President Luiz Inacio Lula da Silva (L) greet each other after signing a series of agreements during a news conference in Buenos Aires. Argentina and Brazil, the two largest economies in South America, are in early talks to create a common currency, as part of a coordinated bid to reduce reliance on the U.S. dollar. Speaking on his first international visit since taking office, Lula said that the currency would initially be designed for trade and transactions between Brazil and Argentina. Brazil's Finance Minister Fernando Haddad said that the adoption of a common currency was not designed to replace the Brazilian real and the Argentine peso. "Developing and implementing a common South American currency is, therefore, pie in the sky."

☆ Americanas' billionaire shareholders say they were unaware of accounting problems
▼ + stars: | 2023-01-23 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +2 min

SAO PAULO, Jan 23 (Reuters) - Americanas SA (AMER3.SA) three largest shareholders, the billionaire founders of 3G Capital, said on Sunday they had not known of $4 billion in accounting 'inconsistencies' at the Brazilian retailer. "We didn't know of and would never allow any accounting manipulation in the company", the statement said. It said Americanas had been audited by PwC and that the retailer's "banks and auditors never reported any problems". Securities industry regulator CVM has also launched probes into Americanas, which has seen its stock lose more than 90% of its value since the news of the accounting problems emerged. 3G Capital itself has no stake in Americanas.

☆ Premarket stocks: ESG funds had a terrible year but traders kept investing anyway
▼ + stars: | 2023-01-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —ESG funds — investments that evaluate companies using environmental, social and governance factors — just survived a tumultuous 2022. That increased scrutiny also played into political differences around ESG investing and opened the door to vocal critics. Responsible investing funds also came up against mighty economic headwinds. These funds’ outsized investments in tech stocks and lack of energy stocks (which was the only positive sector this past year), led to a noticeable losses for ESG funds in general last year. On a global scale, ESG funds also attracted positive investment flows even as money was pulled from broader funds, according to Refinitiv Lipper data provided exclusively to Before the Bell.

☆ Explainer: What Brazil and Argentina's 'currency union' really means
▼ + stars: | 2023-01-23 | by ( Marcela Ayres | ) www.reuters.com time to read: +3 min

BRASILIA, Jan 23 (Reuters) - Brazil and Argentina sparked some excitement on Sunday over the possibility of a potential "currency union", though the two countries are unlikely to ditch the real or peso any time soon. That sparked off chatter about a European Union-style zonal currency for South America, though officials have since played that down and analysts say a full-on currency union is a distant prospect. Under the plan, the Brazilian real and Argentine peso would continue to exist, with the new tender targeted narrowly at trade. That is key for Argentina, which is grappling with low foreign currency reserves after years of debt crises. In 2019, former Brazilian President Jair Bolsonaro touted plans for a currency union, which also never materialized.

London CNN —The two biggest economies in South America are starting talks to create a common currency. At a press conference in Buenos Aires, he said establishing a common currency for trade would reduce reliance on the US dollar, whose sharp ascent last year was painful for countries around the world. Talk of creating a common currency has periodically cropped up since its founding in 1991. Still, investors are doubtful efforts to create a common currency in the region will gain much traction. “Brazil and Argentina are a long way away from the convergence in economic policy and performance required to launch [a] monetary union,” he said.

☆ A South American currency union? Don't hold your breath
▼ + stars: | 2023-01-23 | by ( Rodrigo Campos | ) www.reuters.com time to read: +4 min

That came after the leaders had touted a "common South American currency" on Sunday and officials told the Financial Times the tender could even be called the "sur" and eventually look to bring in other countries around South America. "It has failed to achieve simpler integration goals than that of a common currency." He called the idea of a currency union a "fantasy." Currency union talk was just a distraction, she said. Todd Martinez, a director at Fitch Ratings' sovereigns group focused on Latin America, said the two countries appeared to be unlikely partners to form a successful currency union, given their diverging economies.

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