Arab fund increases offer for Burger King Brazil, cut cooking gas prices and what matters in the market

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BlackRock looks beyond the election

With $10 trillion in assets under management around the world, BlackRock does not ignore the Brazilian election, but says that the outcome of the election is not decisive for its investment strategy.

What explains: as its plans are based on a more global view, the manager incorporates local factors into the risks, but prefers to analyze the region as a whole, especially in emerging markets.

• In this case, BlackRock’s concern, says Axel Christensen, its chief investment strategist for Latin America, is about the region’s ability to deliver consistent and sustainable economic growth over the long term.

• For the global market, especially the US and Europe, where the bulk of the manager’s money is, attention is focused on how long the current cycle of high interest rates will last and if inflation will give way in response to this bitter medicine.

• For the short term, BlackRock’s Christensen does not expect a recovery in the equity and fixed income markets on a global scale.

More about the financial market:

the arabic background Mubadala Capital increased by 10% his proposal to take control of Zamp, operator of the Burger King and Popeye’s chains in Brazil.

• The offer is BRL 8.31 per share for the purchase of 45.15% of the shares – the fund already holds 4.95% of the company’s capital.

Countries want global minimum tax in 2023

The largest member countries of the EU (European Union) pledged in a joint statement to adopt the global minimum tax later this year, despite opposition from Hungary.

In a statement last Friday (9), Germany, France, Italy, Spain and the Netherlands reaffirmed their intention to “quickly” adopt the minimum rate of 15% on large multinationals. The proposal aims to eliminate tax havens.

Understand: Hungary had accepted the idea of ​​a global minimum tax, but has now backtracked. The absence of its endorsement complicates the entry into force of the rule, because tax changes in the EU generally require unanimity among member states.

• Even so, countries are studying an alternative to apply taxation even if Hungary does not want to. Germany said it was prepared to implement the measure unilaterally.

Remember: the global minimum tax had been approved by the G20 and even last year it was endorsed by 136 countries in an agreement stitched together by the OECD.

• Targeting big tech activities, he suggests a minimum tax rate of 15% for multinationals with annual revenues above 20 billion euros and a profit margin of more than 10%.

• The proposal also provides that these companies are also taxed in the countries where they operate, not just in the location of their headquarters. To enter into force, it needs to go through the parliaments of the countries.

Petrobras reduces the price of cooking gas

Petrobras announced that this Tuesday (13th) the cut of 4.7% in the average price of LPG, cooking gas sold in cylinders.

In numbers: will be a drop BRL 0.20 per kilo in the price for distributors. Thus, the average value of a 13 kilo cylinder will have relief of R$ 2.60 – from R$ 54.94 for BRL 52.34.

• In August, a 13-kilogram bottle of gas cost, on average, R$111.62 for Brazilian consumers, according to ANP data. The current drop is the first since April 9.

• The readjustment is more good news from Petrobras for the government. THE Sheet showed how the state-owned company started announcing drops in fuel prices, such as gasoline, diesel, aviation kerosene, etc., on the eve of the election.

More about the state

Investment help: From BRL 925 billion of private investments in infrastructure trumpeted by the government for the next ten years, a good part of them came from projects by Petrobras, a company controlled by the State.

Gasoline drops at pumps: the average price of fuel fell for the 11th consecutive week at Brazilian gas stations, according to a survey by the ANP.

• The average price of gasoline dropped 2.5% last week to BRL 5.04 per liter.

World needs more robots

If a few years ago the concern was that robots would destroy human jobs, today the biggest fear is that technology will not evolve in time to save the world economy from the shortage of workers.

Understand: The job market in the post-pandemic world faces some never-before-seen obstacles. They appear mostly in more advanced economies, where the population gets older.

• World unemployment is at 4.5%, the lowest level since global records began in 1980.

• The working-age population is shrinking in nearly 40 countries, down from just two in the early 1980s.

Race against time: the situation is especially serious in China, Japan, Germany and South Korea. It is precisely these countries that have the most robots in their factories – in Japan, there are almost 400 of them for every 10,000 workers.

• Policies to encourage birth and/or immigration are also adopted to reduce the shortage of workers.

Will jobs be destroyed? Like previous innovations, robots kill some professions and create others.

• About a third of the jobs created in the US are in fields that didn’t exist or barely existed 25 years ago. And a third “will change fundamentally over the next 15 to 20 years,” according to the OECD.