Meta would be preparing a new round of job cuts, according to Financial Times, which points out the delay of the multinational in the preparation of budgets for various teams in this context.

According to two Meta employees familiar with the situation, a lack of clarity about future budgets or headcount would have prevented planning for upcoming workloads, adding that projects and decisions that normally take days to approve now take around a month in some cases, including in priority areas, such as the metaverse and advertising.

In this way, according to three employees consulted by the British newspaper, despite the workforce adjustment last November, more cuts are expected around March, since the company is currently undergoing staff performance reviews.

Marck Zuckerberg, CEO of the company, defined the multinational’s efforts to control its costs during the current year as “the year of efficiency”, after the slowdown in the economy weighed down Meta’s results in 2022.

At the beginning of February, Meta reported that it obtained a net profit of 23,200 million dollars (21,725 ​​million euros) in 2022, which represented a drop of 41 % compared to the result recorded a year earlier, while its annual income added a total of 116,609 million dollars (109,197 million euros), 1.1 percent less than in 2021, which represents the first annual drop in the company’s turnover.

Meta’s chief financial officer, Susan Li, expressed confidence that total revenue for the first quarter of 2023 will be in the range of $26-28.5 billion, while she estimates that total expenses for the full year will be in the range of $89-28.5 billion. 95,000 million dollars (81,609 and 87,110 million euros), compared to the previous perspective of between 94,000 and 100,000 million dollars (86,194 and 91,695 million euros).

Source: dpa

(Reference image source: Dima Solomin, Unsplash)

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La entrada Meta plans a new round of layoffs apareció primero en Bitfinance.

Spain will close 2022 as the sixteenth largest economy in the world, two steps below the position it occupied last year in the World Economic League, placing one position behind Mexico, which becomes the largest Spanish-speaking country in the world, according to forecasts from the Center for Economic and Business Research (CEBR).

The British consultancy indicated that the Aztec economy will remain in the same position throughout the horizon of the projections, which reach up to 2037, except for 2027 when it will exchange its position with Spain, to subsequently overtake the Spanish economy and position both countries in 15 years in the same positions as today among the 191 economies analyzed.

In the case of Spain, the CEBR anticipates that the annual rate of GDP growth will fall to an average of 1.7% between 2023 and 2027, while in the rest of the forecast horizon it expects economic growth to slow down even more. , up to an average of 1.5% per year.

At a global level, the consultancy highlights that the world economy will exceed the threshold of 100 trillion dollars for the first time in 2022 and predicts that by 2037 world GDP will reach 207 trillion dollars.

In this sense, the authors warn that by the end of the horizon of their projections, Europe will represent less than a fifth (19.4%) of world GDP in dollars, compared to the 21.9% expected in 2022 and the 33.8 % from 15 years ago.

On the contrary, the picture for the East Asian economies is almost exactly the opposite, with the expectation that the weight of these economies will almost double, going from 19.5% to 33.7% in a range of 30 years until 2037.

In this sense, the World Economic League keeps the United States at the top of the table in 2022, which will retain its privileged position at least until almost the end of the forecast horizon, when it will finally be overtaken by China, which has again seen the game delayed. moment of surprise

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Source: Forbes

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La entrada Mexico is emerging as the best Hispanic economy apareció primero en Bitfinance.

The Mexican president, Andrés Manuel López Obrador, assured that the country has recovered the economic levels prior to the Covid-19 pandemic.

This was maintained during a rendering of accounts of what has been carried out by his Executive in the last three months and in which he stressed that Mexico has faced “great challenges,” according to several media outlets.

“In these years we have faced great challenges, such as the pandemic and the economic crisis, however, these difficult circumstances put us to the test and show whether the change project we initiated works,” said López Obrador from the National Palace.

The president of Mexico also said that, despite the fact that there has been no growth in the country’s economy, a better distribution of wealth would have been achieved.

“We have managed to reduce inequality and poverty, with no growth but with a better distribution of income. While in 2018 the richest earned on average 18 times more than the poor in 2020, inequality has been reduced to 16 times“, he added.

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Source: El País

La entrada Mexico recovered its economic level apareció primero en Bitfinance.

The price of the euro against the dollar briefly fell below parity this Monday in view of the prospects that point to a growing risk of recession in the euro zone and the expectation that at the end of this week they will meet in Jackson Hole, representatives the US Federal Reserve and other central banks.

In this way, the exchange rate for the euro against the “greenback” fell this Monday to 0.9992 dollars from the 1.0034 dollars of the previous closing, although after the opening of the stock markets of the Old Continent the European currency recovered part of the lost land and was exchanged for 1,0010 dollars.

Last week, the German representative on the board of the European Central Bank (ECB), Isabel Schnabel, recognized that the signs pointing to a slowdown in growth in the euro zone open the door for the region’s economy to enter a technical recession , while it will probably take some time for inflationary pressures to dissipate.

However, despite the expected deterioration in activity in the euro zone, Ella Schnabel noted that she does not see “any indication of a prolonged and deep recession at this time”.

In this way, with a view to the meeting of the Governing Council of the ECB next September, Schnabel was in favor of the entity acting decisively again, since, when looking at the most recent data, the concerns that were in July, when the central bank decided to undertake a 50 basis point rate hike, “they haven’t eased”.

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Source: Infobae

La entrada The euro loses parity with the dollar again apareció primero en Bitfinance.

The Consumer Price Index of Argentina experienced a monthly variation of 5.3 % during the month of June and accumulated, in the first six months of the year, a rate of 36.2% with respect to the same period of the previous year, according to data released by the National Institute of Statistics and Censuses (Indec).

In the year-on-year variation, the country’s inflation stood at a level of 64 %, the highest record observed in the last year. The division with the greatest increase during June was health, with a month-on-month rise of 7.4 %, which was affected by the increase in the share of prepaid medicine and medicinal products.

This item was followed by housing, water, electricity and other fuels, with a rise of 6.8 %, mainly due to the incidence of the increase in electricity and gas rates. Also, alcoholic beverages and tobacco was another of the categories with the highest increase in prices.

Regarding food and non-alcoholic beverages (4.6 %), it was the one that had the highest incidence in all the regions. Within the division, the increase in vegetables, tubers and legumes stood out, although the increase in meat and derivatives was what had the most impact in most regions.

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Source: Americaeconomica

La entrada Inflation in Argentina grows 5.3% apareció primero en Bitfinance.

The Latin American Development Bank (CAF) will strengthen the carbon markets of its member countries and will articulate the competitiveness of the supply of carbon credits, with the aim of reducing greenhouse gas emissions, mobilizing financial resources to face to global warming and respond “consistently and innovatively” to international demand, according to a statement.

Carbon markets consist of countries making transfers of emission reductions voluntarily or blindingly among themselves. Although they are not yet regulated, at the COP26 in Glasgow, the countries agreed to start activating the necessary mechanisms for their operation.

The objective of the Latin American and Caribbean Initiative for the Development of the Carbon Market (Ilacc) is to promote the global competitiveness of the supply of carbon credits generated in the region, strengthening the conditions for future voluntary and regulated markets and expanding their impact in the generation of employment, income, new technologies, green business clusters and the fight against poverty.

Among the immediate actions of Ilacc are the elaboration of a regional diagnosis on the carbon market, the start-up of the Ilacc Carbon Market Observatory, the formation of the Scientific Council and the creation of the Ilacc Regional Forum.

“The region has great climate potential, especially thanks to its unique capacity to offer nature-based solutions, which play a fundamental role in mitigating the effects of climate change”, said CAF’s Vice President of the Private Sector, Jorge Arbache.

In this sense, Arbache highlighted that the carbon market offers a historic opportunity for Latin America, which could be even more important than other boom cycles experienced by the region associated with agribusiness, mining and hydrocarbons.

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Source: Atalayar

La entrada CAF will strengthen carbon markets in Latin America apareció primero en Bitfinance.

The World Health Organization (WHO) called on the most developed nations to contribute some 23,000 million dollars to be able to deal with the coronavirus and end the health emergency in 2022.

In this context, a group of international governments agreed on a new financing framework in support of the ACT Accelerator plan, an international collaboration mechanism of the WHO, aimed especially at raising funds from the richest nations.

The first objective, as recognized by the body itself, is to “cover the budget deficit” of some 16,000 million dollars from the ACT Accelerator. The corresponding nations will contribute a certain amount based on the capacities of their own economies and the benefits that a more rapid recovery of the world economy and trade would bring them.

This amount is expected to finance the work of the different ACT Accelerator agencies, whose research would allow the acquisition of tools that the WHO considers “essential” to combat the coronavirus and provide them to those countries with lower incomes.

According to the United Nations health agency, of the more than 4.7 billion coronavirus tests that have been carried out throughout the planet, only about 22 million, around 0.4 %, have been carried out in low-income nations. Countries where as few as ten percent of the inhabitants have received at least one dose of the vaccine.

Source: dpa

La entrada WHO asks for more economic contributions to face Covid-19 apareció primero en Bitfinance.

One of Bancamiga’s most widely accepted products has been the Exchange Desk, a financial mechanism that operates as a kind of auction through which currencies can be bought or sold legally and transparently, without intermediaries or surcharges. The receptivity has been such that during the month of June it occupied the first place within the financial institutions of the country by volume traded with a number of operations that stood at 32,351 and undoubtedly also by numbers of operations attended, it was informed by the bank through a statement.

“Through www.bancamiga.com the process of acquiring and selling foreign currency is carried out, in which the rates of the Central Bank of Venezuela (BCV) are used as a reference, so the price is fair and is the result of the operations agreed in all the tables of the system ”.

María Esther Bastidas, Vice President of Treasury at Bancamiga, argues that the success of the Institution’s Exchange Table lies in the importance of clients, regardless of their size. If a client is interested in buying $ 10 at the table, Bancamiga will attend to them. “People have found that possibility in us.”

The Bancamiga Exchange Desk, whose allocation level is 98%, is a fast and safe way to monetize bolivars. He recommends that customers mount the order, both for purchase and sale, before 10 in the morning. The purchase is from 10 dollars or euros and the sale from 100 dollars or euros in the open day.

“Additionally, there is the Online Desk that offers the client the possibility of selling currencies online in this way and acquiring bolivars in real time. It operates 24 hours a day, 365 days a year and can be sold from $ 5 or euros ”.

It should be explained that the currencies produced by the Bancamiga Exchange Desk can then be mobilized through the Cash or Foreign Currency accounts, or with the International Debit Card, which allows the purchase at any point of sale in the country or withdrawal at international ATMs.

“We want to lead consumer preference thinking, so that when you need to carry out an operation, think first of Bancamiga. We work so that you can satisfactorily find all the answers to your concerns with us and that is why we innovate every day to offer new services and products ”.

During the first semester, the number of operations at Bancamiga’s Exchange Desk was 131,405.

With information from Bancamiga

La entrada Bancamiga Exchange Desk achieved first place in June for volume traded apareció primero en Bitfinance.