Hello! That’s it starting line, Bloomberg Linea’s daily newsletter with the most important business and financial news in Latin America and the world.
Bloomberg Line Yesterday published its list of the 500 most influential personalities in Latin America in 2022, individuals who are dynamizing the region from different industries and whose influence has shown a major impact during the last year.
🔝 They are different in choice CEOs, founders, entrepreneurs, artists and social leaders from across the region who have become leaders in their respective fields and promoters of new initiatives In various industries such as energy, retail, cosmetics, health, arts and transportation.
There are more than 170 women in the list. Since then CEOs and directors of major LatAm companies such as Tania Cosentino, CEO of Microsoft Brazil; Claudia Woods, CEO of WeWork LatAm; Ana Sofía Sánchez, CEO of Waze LatAm; Silvia Penna, CEO of Uber Brazil; Paula Santilli, CEO of PepsiCo Latin America; and Laura Barneter, CEO of Unilever Argentina and Uruguay.
There are also artists such as Brazilian singer and businesswoman Anitta; Argentinian singer and actress Tini Stossel; Brazil’s youngest athlete and Olympic medalist, Ressa Leal; Peruvian chef Pia Leon and Colombian Leonor Espinosa, considered the best female chefs in the world; As well as crypto artist Fira.
⇒ Read more about The most influential women in the region
On the market’s radar
Investors today operate between two forces: Caution ahead of interest rate decisions to be made by several central banks during the week, particularly the Federal Reserve (Fed) and buying opportunities after last week’s decline in US equities.
🌊 Instability. Markets are dealing with volatility as they await the verdict on interest rates in the US. Index futures have already gone from plus to minus this morning. The market is awaiting the caliber of rate hike by the Fed: According to economists’ assessment, a major adjustment has not been completely ruled out, although the biggest bets are centered on a 0.75 percent hike.
📡 ECB on the radar. Expectations also revolve around a statement from European Central Bank (ECB) President Christine Lagarde this afternoon. Will it drop any hints about upcoming interest rate adjustments? Analysts see a recession almost imminent in the eurozone and the ECB has already begun a cycle of monetary tightening – this month it raised rates by a historic 0.75 percentage points – to contain still-burning inflation.
🚦 Technical stop. The Chinese central bank decided to keep the money rate unchanged (3.65% for a one-year loan and 4.30% for a five-year loan), blocking the cycle of cuts it had been promoting to help the economy recover. The decision was already expected: analysts think it could be a short pause before the Federal Reserve assesses the scenario and then decides on a new rate cut.
Swedish surprise. The Swedish central bank has already decided to raise the economy’s key interest rate by one percent. The move was the biggest in nearly three decades and more aggressive than the 0.75 points expected by the market, responding to the rise in prices in the country over the past 11 months.
→ More about Factors that will move the markets today
🟢 Yesterday Bag: Dow Jones Industrials (+0.64%), S&P 500 (+0.69%), Nasdaq Composite (+0.76%), Stoxx 600 (-0.09%)
After struggling for direction, US stocks finally managed to put the losses behind them. Investors are bracing for an interest rate hike by the Fed, which could renew fears that tightening monetary policy will lead to a US recession. However, gains in large-cap stocks, such as Apple and Tesla, set the ultimate trajectory for the indices.
→ read more About markets closing and subscribe finish lineEvening newsletter Bloomberg Line With variables guiding the US and Latin American markets.
These are the scheduled events for today:
• USA: New Home Construction Index/August, Building Permits/August, Weekly Oil Inventories
• Europe: Euro Zone (Current Account Balance/July); United Kingdom (inflation expectations); Germany (Producer Price Index/August); Italy (Current Account Balance/July); Portugal (Current Affairs/July)
• Asia: China (interest rates on loans); Japan (Consumer Price Index/August)
• Latin America: Brazil (federal tax revenue); Argentina (GDP/2Q22)
• Central banks: Statements by Christine Lagarde (ECB) and Elizabeth McCall (ECB). Decision on interest rates in Sweden
📌 For the week:
• Wednesday: Fed interest rate decision. CEOs of major banks, including Jamie Dimon of JPMorgan Chase & Co. and Brian Moynihan of Bank of America, testify before the US Congressional Committee on Financial Services.
• Thursday: Monetary policy meetings of the central banks of Japan, United Kingdom, Indonesia, South Africa, Turkey and Switzerland
• Friday: US Treasury Secretary Janet Yellen speaks in Washington. Euro Zone PMIs
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• Did Hollywood Abandon NFTs After Cryptocurrency Crash?
• Economists see a recession in the euro zone as almost imminent
In case you missed it:
• The Colombian economy grows. The Colombian economy grew 6.4% year-on-year in July, according to the original series of Economic Monitoring Indicators (ISE), Den reported. Tertiary activities were key to the reported economic performance. However, despite the positive numbers, the economy is sure to show signs of slowing down from this month.
• Zuckerberg got lucky. Mark Zuckerberg’s Meta Inc. (META)’s shift in strategy, now focused on the metaverse, has had a huge impact in the real world. Despite a tough year for all major technology companies, their wealth has fallen by US$71 billion this year, the most in the billionaires’ index. Bloomberg.
• Ecuador restructures debt with China. Ecuador reached an agreement with China to restructure debt, which would mean savings of at least US$1,000 million by 2025. As of July 2022, the balance of debt with China reached US$4,128 million, of which US$1,406 matures by 2024.
Bloomberg Opinion Line
Supply chains are not broken, at least not in Asia
By Anjani Trivedi
The United States is looking to bring manufacturing back home, or at least closer, as the world worries about the disappearance of global supply chains and the threat of deglobalization. However, despite all the challenges that have arisen since 2020 when Covid-19 disrupted global trade, supply chains have evolved better in some places – particularly in Asia.
🎮 Bonus Tracks: Tensions after Grand Theft Auto VI leak
The video game ecosystem faces the weekend One of the biggest leaks in recent months, when detailed videos of what would be the next edition of the iconic Grand Theft Auto were released on various platforms. Rockstar Games, the take-two studio that makes the game, confirmed the hack on Monday.
👾 The last Grand Theft Auto came out in 2013 and became the most valuable thing in entertainment based on the continued popularity of its online game. Grand Theft Auto VI has been in development in some form since 2014, According to the report Bloomberg. The game will feature a playable female lead for the first time in the series and will primarily be set in a fictional version of Miami.
🕹️ In a statement on Monday, Rockstar expressed its disappointment but said the hack would not affect the game’s development or any other games.
⇒ Read more details about Grand Theft Auto VI leaks