Media and LatAm Navel Gaze: September 18, 2017
Facebook and other social platforms, but mostly Facebook, is under the gun and in the spotlight amid claims that it helps deliver fake news, can help tip elections, spread anti-hate rhetoric on behalf of terrorists, to name a few charges that now has the attention of Washington and regulators. No doubt the big story for some time now amid a big pot of pot boilers like North Korea, immigration, ongoing unrest in the UK and elsewhere, to name just a few.
Elsewhere, quite a few PR dramas unfolded like week:
- Equifax suffered a major breach and a PR blackeye in how it handled delivering the news, showing that straight talk and speedy reaction make for a better bad-news story; top dogs exit;
- Also headed out the door is SoFi CEO Mike Cagney amid a swirl of improper workplace alleged actions;
- And finally, also suffering a PR black eye this week was Harvard when it disinvited Chelsea Manning from serving as a visiting fellow amid an uproar that the former solider was a traitor (though pardoned by President Obama);
- North Korea fired a new missile despite recent UN sanctions as just as the UN gets underway to huddle in New York this week;
- Hillary speaks in her new book called “What Happened,” which actually got pretty good marks – despite its heft -- from some of her toughest red-state critics; and
- The Dow soared this week, rising 2.2 percent for its best showing of the year with the average ended Friday at 22,268;
- On Thursday, Brazilian President Michel Temer was charged with obstruction of justice and racketeering. It is the second set of criminal charges filed against the president based on the plea-bargain testimony of the owners of the world's largest meatpacker, JBS SA. Earlier in the week, police arrested JBS chief executive Wesley Batista amid allegations that he and his brother used their own plea bargains to gain an advantage in financial markets.
- The shares of Chile’s SQM, a chemical company and a supplier of plant nutrients, have increased by 80% so far in 2017, the value of the company is the highest in its history.
- Amazon.com, is preparing to open a 1 million square foot warehouse near Mexico City in an effort to boost its presence in Mexico's emerging e-commerce industry.
- Mexico and Canada reject NAFTA’s extinction clause. Both countries' ambassadors said the plan put forward by US Secretary of Commerce Wilbur Ross would be detrimental to companies in all three nations.
- Following an announcement last week, that Venezuela was moving away from the greenback in response to U.S. sanctions it has temporarily suspended the sale of U.S. dollars through its Dicom auction system.
- End of Week Market Updates
- Merval (Argentina): -1.24%
- Bovespa (Brazil): +3.66%
- IPSA (Chile): +2.17%
- IGBC (Colombia): -0.45%
- IPC (Mexico): -0.32%
- BVL (Peru): + 1.15%