Media and LatAm Navel Gaze: April 24, 2017
He’s out! Fox booted Bill O’Reilly amid a string of sexual harassment claims dating back many years and many lawsuits, a backlash from advertisers and a ton of ink (“Lights Out for O’Reilly,” NYT) about how the media powerhouse changed the face and tone of cable news as well as building Fox into the conservative voice for the country. The boot did not come without controversy itself with O’Reilly getting a $25-million pay package, objected by many for obvious reasons. Tucker Carlson is expected to replace him today.
- Trump soon faces his 100th day, a milestone that seems to have more-than-usual media attention, which likely will only intensify leading up to April 29th (which, by the way, has its own Wikipedia entry);
- The Dow ended pretty flat last week despite a strong rally Thursday on talk of tax changes ahead, with the blue chip indicator closing Friday at 20,547 (we’re down for the month);
- France is at the polls following a tragic week in Paris when a gunman killed a policeman on the Champs-Elysees in what has been called an act of terrorism;
- Venezuela continued to spiral downward, seizing GM operations, forcing the automaker to shutdown;
- Scientists marched around the world to the tune of #oceansarerisingandsoarewe; and
- In sharp contrast, Unicorn Frappuccinos happened…for five days only.
- In Argentina, after four consecutive drops, The MERVAL Index ended Friday in positive territory, gaining 0.75%, to 20,668.71 units, encouraged by firms linked to the agricultural, oil and technological equipment sectors. Within the leading panel of the Buenos Aires Stock Exchange, the most notable increases were recorded by Agrometal (3.03%), YPF (2.44%) and Mirgor (2.14%).
- One of Brazil’s largest wheat mills, Moinho Globo, has invested R$100m in a double capacity unit to raise revenues by 70% within two years.
- Chilean Bank, Banco de Crédito y Inversiones (BCI) is in talks to buy US subsidiary of Banco Popular Español, TotalBank. The deal is believed to be valued at around US $ 500 million.
- In Mexico, the alcohol market will be worth approximately 1.18 billion pesos in 2019 and per capita consumption will reach almost 70 liters with continued growth. Taking advantage of these statistics and the lack of innovation in this market, six Mexican entrepreneurs created Royal, an app that allows you to order alcohol for an event/party (essentially the Uber of alcohol). During the first months of its launch, the company managed to raise capital of $850,000 pesos with eight investors.
- Peru is close to surpassing Chile as the most attractive country in Latin America for mining exploration companies. Chile’s initiatives add up to US$49.208 million in disbursements, while Peru's updated investment report amounts to US$46.996 million.
- Venezuela's opposition renewed nationwide protests on Thursday to pressure President Nicolas Maduro into holding elections and improving a collapsing economy. The opposition has vowed to keep up pressure by staging three more protests in the next four days.
- End of Week Market Updates
- Merval (Argentina): - 0.21%
- Bovespa (Brazil): + 1.49%
- IPSA (Chile): - 1.01%
- IGBC (Colombia): - 1.46%
- IPC (Mexico): + 0.02%
- BVL (Peru): - 1.23%