Startup wants to resume supersonic commercial flight, Rappi x iFood and what matters in the market

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The return of supersonic travel?

A startup created in 2014 promises to resurrect supersonic commercial flight. Despite questions about the project, two giants in the American airline industry have already bought into the idea – literally.

Remember: the supersonic journeys of the 14 Concorde units transported British Airways and Air France passengers from 1976 to 2003, the year in which the model was retired as it was economically unfeasible.

• The service above the speed of sound cut the flight time between London and New York from 6h30min to less than 3h, but also raised environmental concerns due to its noise and fuel consumption.

The newbie: to overcome economic and environmental obstacles, startup Boom Supersonic bets on technology, with a turbine that doesn’t need the “afterburner” — fuel injection into the flow of heated air that increases thrust.

In numbers: it is speculated that each of the planes will cost around $200 million (just over R$ 1 billion). The projected speed is 1.7 times the speed of sound, just over 2,000 km/h, close to that of Concorde.

• The ticket would cost around US$ 5,000 (R$ 25,600), higher than what is charged today for business class.

Orders: Boom Supersonic has already agreed to sell 20 units of the Overture model to American Airlines and another 15 to United Airlines. The two still have options for new acquisitions.

Yes but…A detail that is not small has not been announced yet: the engine does not exist. The founder, who estimates the Overture’s first commercial flight for 2029, said news about the engine is close to being announced.

Rappi x iFood

Rappi returned to Cade (Administrative Council for Economic Defense) against iFood.

This time, the Colombian app accuses the Brazilian market leader of circumventing a 2021 ban from the antitrust body, which iFood denies.

Understand: Rappi and Abrasel (association of bars and restaurants) complained to Cade in 2020 that iFood uses its dominant position to enter into exclusive contracts with partner restaurants, which in their view restricts competition.

• In 2021, CADE’s General Superintendence issued a preventive measure prohibiting the app from signing new agreements of this type, while analyzing those that are in force.

What Rappi accuses: she alleges that iFood circumvented the determination in three different ways and asks that Cade determine the end of all exclusivity contracts already signed and without charging fines.

iFood defends itself: the app valued at R$ 28 billion denies failing to comply with the measure imposed by Cade in 2021 and says that its “commercial policies are in compliance with competition legislation”.

“By alleging that its growth difficulties are the result of exclusive contracts signed with less than 8% of the restaurants that work with Ifood, Rappi incites an untruth that does not reflect the reality of the problem”, the company continued.

Friends, friends…

Elon Musk has decided to put his longtime friend and co-founder and former CEO of the social network, Jack Dorsey, in the middle of the legal fight that he has with Twitter.

Understand: Musk has filed a court order on Dorsey for him to file documents related to the number of fake accounts or bots on the platform and how Twitter calculates it.

• The social network’s co-founder stepped down as the company’s CEO at the end of 2021 and was a supporter of Musk’s stake in the company.

why it matters: the data requested by the Tesla owner is at the heart of his legal dispute with Twitter, which involves the purchase of the social network by $44 billion (R$ 227.4 billion).

• Musk claims that the company lied by reporting an incorrect number of fake accounts – around 5% – while the platform accuses him of inventing an excuse to escape a deal he no longer likes.

The trial is scheduled to begin in October.

Boiling hot water: This Tuesday, a document submitted to the SEC (American CVM) by a fired Twitter employee was made public after reports by CNN and the Washington Post.

• Peiter Zatko, former head of security for the platform, denounced to the market authority that executives of the social network deliberately reported false account numbers below the reality – which could favor Musk.

• He also claims that he discovered major flaws in the platform in digital security and content moderation. Twitter said the allegations were baseless and that Zatko was fired for his negative performance.

Commodities attract gringos

The injection of foreign money after opportunities on the Brazilian stock exchange this Tuesday (23) moved the Ibovespa up, against international peers, and made the real appreciate.

The benchmark index for Brazil advanced 2.13%to the 112,857 pointsand the dollar fell 1.25%, The BRL 5.10. The latest available data from B3 shows that foreigners have already placed BRL 17.1 billion on the stock exchange only in August.

what explains: the good moment of the commodities abroad and a sign of weakening of the American economy redirected the sight of the owners of the money for the emerging markets this Tuesday.

• Petrobras and Vale, the two companies with the greatest weight on the Ibovespa, rose 3.18% and 6.41%respectively.

• For the state-owned company, it influenced the rise in oil, which returned to the level of US$ 100 after Saudi Arabia signaled that OPEC+ could cut production. For the mining company, the Chinese government’s incentives to the economy heated up iron ore prices.

In the USAactivity data showed a slowdown from a month earlier, taking pressure off the Fed for a new 0.75 point rate hike and easing riskier emerging assets.

Other highlights of the day: the shares of companies linked to consumption, such as retailers, also registered strong increases with signs of falling inflation and the end of the rise in interest rates here.

• Driven by the change in command of the company, Americanas’ shares soared almost 16% even after a 22% rise on Monday. Magazine Luiza went up 8%and Via, 3%.