Blog

Latest Industry News

Social media is full of such calls.

Social media is full of such calls.

In early December, he said in an interview that if Trump succeeds, it will be good for Mexico. The second largest economy in Latin America would benefit if the US economy grew by four percent and created millions of new jobs. Source: ntv.de, chr / dpa / rts “Carlos Slim gave the renowned” New York Times “a loan during the financial crisis The Mexican billionaire is now increasing his commitment to the newspaper. The “NYT” wants to use the Slim money for share buybacks. Carlos Slim (Photo: AP) The Mexican billionaire and telecommunications entrepreneur Carlos Slim is the largest shareholder in the renowned newspaper ” New York Times “rose.

After exercising purchase options, the 74-year-old doubled his stake in the publishing house to 16.8 percent. The increase in the stake goes back to a transaction in 2009. Back then, Slim was helping the newspaper out with a $ 250 million loan with an option to buy the shares. The “New York Times” suffered from advertising slack during the financial crisis and carried a growing mountain of debt with it. Slim rushed to help – and made real money doing it. The newspaper repaid the loan back in 2011, three and a half years before the loan would have matured.

Slim also received $ 122 million in interest and a prepayment penalty. With the option to purchase, the manager has now acquired 15.9 million A-shares in the publisher for $ 101 million. Slim is making a bargain with it, because the shares are valued almost twice as high on the stock exchange. “NYT” wants to use Slim’s money for share buybacks. A spokesman for the investor said it would have been stupid not to exercise the options given the stock market valuation and the cheap price.

Slim, however, regards his involvement solely as a financial investment. He wanted to hold the newly acquired shares and not have any influence on the newspaper’s management. The New York Times is not only a valuable brand, but also a producer of valuable content. Slim is best known for his commitment as a telecom entrepreneur. The manager controls the Mexican telecom group America Movil and, through this company, also has stakes in numerous European telecommunications operators. The businessman is also involved in other industries, from mining to real estate and banking. The investor is now the largest single shareholder in the “New York Times”.

The Sulzberger family continues to control the newspaper with its voting B shares. The B-Shareholders can appoint nine of the 13 members of the Board of Directors, A-Shareholders like Slim only four Board members. Like many newspapers, the “New York Times” is currently suffering from falling advertising revenues. In the third quarter, however, the falling advertising sales in the print edition were offset by increasing revenues in the digital business.admission biology essay writing service In addition, the number of subscriptions to the online edition is increasing. Source: ntv.de, wne / DJ “” (Photo: REUTERS) Donald Trump is causing the “worst crisis in more than a hundred years,” says the richest man in Mexico, Carlos Slim.

Nationalist slogans and calls for boycotts are, however, not an option for the country. “Mexico stands together – as last happened during the 1985 earthquake,” the Mexican multi-billionaire Carlos Slim recently praised his compatriots. The comparison is not lacking. Donald Trump and his threats are shaking the country to its foundations. His wall plans, the announcement that the Nafta trade agreement would be terminated or the US factories – the largest employers in the country – dismantled: the new US president seems to want to smash everything on which the Mexican economy is built.

It was the “worst crisis in more than a hundred years,” the 77-year-old major entrepreneur with Lebanese roots added. The pressure on Mexico is immense. Nevertheless, the government or the population do not seem to be inclined to act too hastily.

It’s not easy. 80 percent of the export goes to the USA. Without economic exchange between the two countries, unemployment will rise dramatically, especially in the border towns where most US companies are located.

According to the US-Mexican Chamber of Commerce Amcham, the 1,400 US companies in Mexico provide 30 percent of the jobs. 35 percent of jobs depend directly on foreign trade. “Because of its strong export focus on the USA, Mexico is clearly in a weaker position in the event of a trade conflict,” says economist Wolf Rütger Teuscher from DZ Bank. If refrigerators are no longer assembled, dashboards assembled or jeans sewn at the border, the Mexican economy will collapse together. Slim himself was once the richest man in the world at $ 77 billion. He reportedly lost a third of his fortune due to the ailing Mexican economy and the depreciation of the peso.

The relationship between the two unequal neighbors, the USA and America, was fragile even before Trump was elected. With him, the cracks are now visible everywhere: Politically, the Ice Age rules. The Mexican President Enrique Peña Nieto consistently canceled his planned visit to Washington after the targeted provocations of his new colleague in the USA. Trump had recently signed the decree to build the announced “wall” on the southern border of the United States. Under pressure that Trump wants to impose tariffs of up to 35 percent on imports from the neighboring country, the national currency has gained ten percent since his election Lost value. The central bank is doing what it can: It is trying to stop the peso from falling through higher interest rates.

On Thursday, it raised the key rate for supplying banks with money by half a point to 6.25 percent. So far, however, these efforts to stabilize the currency have been crowned with moderate success, as inflation in Mexico was already difficult to control. Last year the central bank raised interest rates five times.

The government’s release of gasoline prices at the beginning of the year additionally fueled the rate of inflation. Before that, the price of fuel had been kept artificially low. The weaker the peso, the more expensive the energy imports.

A vicious circle. As early as November, central bank chief Agustin Carstens had described Trump’s politics as a “hurricane” for the Mexican economy. Mexico must now weigh up its next steps.

A boycott of US companies would be an obvious reaction to American protectionism. Social media is full of such calls. On Trump’s favorite platform, Twitter, it looks like Mexico is about to blow US companies to hell: #Adios Starbucks, #AdiosMacdonalds.

But it is probably not meant seriously. There is no sign of a boycott in the fast food and café chains. The Internet community just seems to vent its frustration. In fact, Trump’s attacks have led to “part of public opinion wanting to wrap itself up in our national flag,” writer Jorge Zepeda Patterson tells the Schwäbische Zeitung.

But there are also many voices who believe that such campaigns are wrong. “To react to the feeble nationalism of Trump with a Mexican nationalism is to shoot us in the foot,” warns the writer emphatically. If one tries to respond to the protectionism of the US government with a boycott, “we are lowering ourselves to the level of the extravagant White House resident”. Reason is trying to find its way. Even two days after the diplomatic showdown between the presidents of the United States and Mexico, the large businessman Slim appeased heated emotions and urged sensible measures.

Trump wants to go back to the past, attach regressive utopias, dreams of the industrial boom of the early 20th century that brought prosperity to the USA. “But it’s like going back in civilization and not going forward, it won’t work.” He fails to recognize that this would explode the costs for consumers in his country. Trump could not have all the factories in Mexico dismantled and ordered back to the USA in a very short time. “That doesn’t work.” Instead, Mexico must “look more at its national market”. Slim demanded that he stimulate him through more national investments, for example more spending on infrastructure. In the social media this is accompanied by the call to buy more Mexican products: “México primero” instead of Trump’s “America first”. There are even a few voices who think that the Mexican economy is not that badly positioned: at least in December and January growth was robust – despite all prophecies of doom.

Exporters could benefit from the current situation. They can offer their goods at competitive prices through the weak peso. Tourism is booming. How well Mexico will ultimately cope with Trump’s policies can, according to experts, be better known in March at the earliest, when more data is available. Meanwhile, not only Slim is trying to see an opportunity in the dispute with its powerful neighbor. “We should look elsewhere.

To the south or Europe “, for example the lawyer Claudio Flores told the” Schwäbische Zeitung “, alluding to the over-dependent dependency on the USA. The time is more than ripe. Source: ntv.de” “” Ex-billionaire Eike Batista is after and after losing large parts of his fortune. (Photo: picture alliance / dpa) He was one of the richest men in the world and even wanted to replace Carlos Slim at the top of the Forbes list: Eike Batista. But business is bad. Now the entrepreneur even has to part with an expensive toy. The Lamborghini “Aventador” is not exactly cheap. (Photo: imago stockpeople) The German-Brazilian millionaire Eike Batista, whose fortune has suffered considerable losses in recent years, has his white one Lamborghini sold – and achieved a proud price for the used car. According to Brazilian media reports, a car dealer from the city of Goiania, about 150 kilometers from Brasília, bought the luxury car for $ 1.1 million, a Lamborghini Aventador.

A new car of this type costs around $ 1.6 million. Battista is hardly driven, only around 2000 kilometers are on the display. The sports car was preferably parked in a parlor on his property. Batista bought the car in 2012 when he was the seventh richest person in the world according to Forbes. At the time, the billionaire announced that he would be the richest in 2015 and replace Carlos Slim, but things turned out differently.

Meanwhile, Batista is estimated to have lost almost all of his $ 30 billion fortune. At the end of 2013, his property was valued at less than $ 100 million when the oil company OGX, the flagship of his holding, EBX, which is named after him, had to file for bankruptcy. Batista wanted to develop oil reserves in the deep sea off the Brazilian coast.

But he soon had to admit that he had missed the ambitious production targets by a long way. OGX’s shares lost 90 percent of their value, and Batista got tight in early October last year: OGX could no longer pay interest of $ 45 million on current bonds and began negotiating with its creditors. To finance the exploration of its oil fields, OGX had borrowed around $ 3.6 billion. The other companies in Batista’s intertwined empire also got into trouble. Last year, the 57-year-old sold parts of his assets as well as some luxury objects, including a helicopter and three private jets as well as the legendary Hotel “Gloria” in Rio de Janeiro. His yacht “Pink Fleet”, however, did not find a buyer at the desired price of 19 million dollars – and was scrapped. Source: ntv.de, jga “The eight richest men in the world own as much as the poorer half of the world’s population – as announced by Oxfam.

According to the calculations of the relief organization, 3.6 billion people own a lot less than assumed. Oxfam also recommends countermeasures; never in recent economic history has wealth been distributed as unequally around the world as it is today. This is the result of a study that the development organization Oxfam presented before the start of the World Economic Forum in Davos. According to data compiled by Oxfam, the eight richest people in the world – all men – collectively have wealth equal to that of the poorer half of humanity. The richest percent of humanity has owned more than the rest of the world since 2015, based on data from various sources that Oxfam has compiled.

For example, the organization brought together “Forbes” estimates of the wealth of the eight richest men with estimates of the global wealth of the Credit Suisse bank. The data show that inequality has increased over time. The richest men include Bill Gates, Warren Buffet, Carlos Slim and Mark Zuckerberg, according to which global income grew by around 11.9 trillion euros between 1988 and 2011. The richest ten percent benefited the most from it.

They accounted for more than 45 percent of the increase, according to the data. In Germany, the increase in the richest tenth was 34 percent. In this country, 36 billionaires are said to have as much wealth (279 billion euros) as the poorer half of the population. The organization blames political and business undesirable developments for the inequality. It calls for states to cooperate more closely instead of competing against one another for the lowest corporate taxes.

At the same time, they should encourage entrepreneurial activity that focuses less on investors and more on workers and environmental costs. Another point of criticism is the gross domestic product as an indicator of prosperity. Unpaid work within families contributes to the prosperity of a society, but is not measured by the GDP. Source: ntv.de, rpe / dpa / epd “” “” “Legal risks in the USA move Volkswagen into the limelight before the weekend: three and a half years After the diesel scandal became known, the US stock exchange regulator brought charges against the VW group and the former CEO Martin Winterkorn.

Volkswagen has already announced that it will take legal action against it. The preferred shares listed in the Dax had gone out of trading the previous evening with a minus of 0.95 percent at 144.16 euros. Source: ntv.de “Martin Winterkorn’s willingness to travel should be limited for a long time. (Photo: REUTERS ) So far, the German judiciary has spared individual VW managers in the diesel scandal.

Back to top