Read this Monday’s edition of the FolhaMercado newsletter (21) – 08/21/2023 – Market

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123milhas suspends ‘Promo’ packages

The 123milhas digital travel agency announced last Friday (18) the suspension of packages and the issuance of airline tickets for the “Promo” line, which offered prices below those practiced in the market between September and December of this year.

• Customers who have already received a ticket, ticket or locator have guaranteed travel, according to the company.

Understand: Promo packages, in addition to being cheap –between 30% and 40% savings, according to the company–, were flexible. Tickets for this line could be issued for 24 hours before or after the date chosen by the consumer.

• 123milhas said that the affected customers will be compensated with vouchers, with an amount corrected by 150% of the CDI per month.

• Vouchers will only be valid for other products on the site (air tickets, hotels or packages) and are valid for 36 months after the refund request, which can be made on this site.

Reviews: On social networks, people complain that the value of the vouchers is not enough to buy tickets sold at market prices, due to the promotional price of the packages.

The announcement of the suspension led the Ministry of Tourism to ask the Ministry of Justice to investigate the company. Procon-SP also manifested itself, informing that it will notify the company on Monday (21).

The National Consumer Secretary, Wadih Damous, said that 123milhas cannot offer only the voucher option as a way of returning the amount spent and that it should give the right to opt for reimbursement in cash.

Did you buy the “Promo” package? Ask your questions about cancellation here.

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Rodeos hope to earn BRL 10 billion

Resumed last year after two years of stoppage, the rodeos gained momentum this year, with more events, larger audiences and the expectation of BRL 10 billion in billing.

• Until last year, revenue was estimated at just over BRL 8 billion.

The main event in the sector, the Festa do Peão de Boiadeiro de Barretos, is in its 68th edition and awaits 900 thousand visitors this year. Are generated by her 10 thousand direct and indirect jobs and BRL 1.24 billion impact on the economy of the city and region.

more numbers that explain the strength of the sector:

• 400 of the 645 municipalities in São Paulo are expected to host rodeos throughout the year;

• BRL 200 thousand is the estimate of the cost of organizing a small rodeo;

• BRL 1,000 is the average daily price of a bull used in the main rodeos in the country.

• BRL 500 thousand The BRL 700 thousand is the average cost of fees from artists at their peak, according to businessmen in the sector interviewed by Sheet.

More on the subject

Barretos grants the title of honorary citizen to Bolsonaro, generates criticism and Festa do Peão tests the “legacy” of the former president.

Columnist Gustavo Alonso tells a story of the Barretos party that few know: “her connection with a Brazilian historical communist, Oscar Niemeyer”.

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Why did the stock market hit a negative record?

The last week in the Brazilian financial market was marked by the record of consecutive falls on the Stock Exchange, when the Ibovespa reached 13 trading sessions in the red until closing higher on Friday (18).

• Despite the negative mark, the accumulated decline in the period was less than 6%, something not so unusual for investors.

Which explains the negative record:

↳ External scenario: what happens abroad often dictates the pace of business in Brazil, and analysts point to this as the main cause of the recent drop in the stock market.

↳ Profit realization: despite the recent drop, the year is still very positive for the local Stock Exchange. When investors see a sour scenario out there, many choose to pocket the profit generated so far to keep an eye on a new opportunity.

↳ Market ‘seer’: the reader may be surprised by the negative record of the Stock Exchange shortly after the Central Bank started cutting interest rates. It turns out that much of the money that is made by traders depends on their analysis of anticipating movements that will happen in the economy.

• In this case, analysts were already predicting a drop in interest rates in this part of the year, despite there being division over the size of the cut.

• A reduction of 0.75 points in the Selic in the next meetings, this one not anticipated, was discarded by many as soon as the minutes of the BC meeting were released.

Opinion: To understand why the negative record did not generate panic in Faria Lima, we have to remember that the market is guided by gringos, writes columnist Marcos de Vasconcellos.

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Startup of the Week: Asaas

On Mondays, the chart shows an x-ray of a startup that recently announced a fundraising.

The startup: Founded in 2014, in Joinville (SC), fintech was created to facilitate the management of collections and payments by SMEs (small and medium-sized companies), and today it has become a kind of digital bank for these businesses.

In numbers: Asaas recently announced it had raised BRL 50 million through an FIDC (credit rights investment funds, see here).

• In all, between FIDCs (this is the company’s second) and contributions involving the startup’s capital, she claims to have received more than BRL 200 million in investments in its history.

Who invested: At first, only institutional investors –such as managers– bought the fund’s accounts, which was structured by Itaú BBA.

What problem does it solve: fintech is a kind of digital bank for SMEs, with a digital account, collection management and credit card.

• The R$ 50 million raised will now go to the credit card receivables prepayment service, in which companies pay a fee to advance the value of sales made in installments.

• Asaas says it has transacted BRL 15 billion of customers in the last 12 months. Of this amount, BRL 1 billion came from the credit card.

Why it stands out: in the current period known as the “winter of startups”, in which contributions and the volume of money from rounds have decreased, more companies have opted to raise money via debt operations in the market, such as FIDCs.

• The option can be advantageous to the founders when taking into account that a contribution in exchange for capital, in this scenario, can lower the startup’s market valuation – a nightmare for entrepreneurs and former investors.