Read this Wednesday’s edition of the FolhaMercado newsletter (13) – 13/12/2023 – Market

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Brazilian cloud

This Tuesday, Magazine Luiza launched Magalu Cloud, the company’s cloud service that can be hired by other companies.

Understand: A cloud is made up of a network of remote servers, responsible for storing and managing data.

• It is used by companies to host services and large amounts of information online.

• Netflix films and series, for example, are hosted in the Amazon Web Services (AWS) cloud, whose servers are in various parts of the world.

What Magalu promises: reduce cloud costs by 30% to 75% for Brazilian businesses, which currently depend, for the most part, on infrastructures offered by big techs.

Why it matters: Amazon (AWS), alongside Microsoft (Azure) and Google (Cloud), are the main providers of cloud services to other companies around the world.

• This front has become increasingly relevant in the revenues of big techs given their constant double-digit growth.

• In the last quarter, the segment achieved revenue of US$23 billion (R$ 113 billion) on Amazon, US$16.7 billion (R$82.6 billion) at Microsoft and US$8.41 billion (R$41.6 billion) on Google.

Magalu’s strategy It matches the image that the company tries to convey as being, in addition to being a retailer, a technology company. The tone was reinforced especially during the pandemic, when the sector noticed rapid digitalization and Magalu diversified its services, making acquisitions with an eye on creating a “superapp” similar to those of Chinese big techs.

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A post, a fall and a statement

A drop in the shares of the car rental company Movida marked this Tuesday’s trading session on the Stock Exchange. It was attributed to a social media post made by a company employee in which the company’s supposed projections for next year appeared.

The problem: the net profit result that was recorded for 2024, of R$210 millionwould be well below the expectations of analysts who follow the company, which is R$425 millionaccording to data from Bloomberg.

The frenzy among investors caused Movida shares to plummet 10% during the session and motivated the company to release a statement while the market was open.

Movida confirmed the authenticity of the “management commitment”, but stated that the numbers distributed at a sales convention last week “contain simplifications” and do not reflect the “accounting reality of the company”.

• The simplifications, according to the company, disregarded operations linked to derivative financial instruments, the depreciation of assets that are impacted by commercial conditions, the curve of Brazil’s basic interest rate and the movement of some tax credits and provisions.

At the end of the trading sessionshares recovered part of their losses and closed down 3.85%at R$11.21, while Ibovespa closed down 0.46%, at 126,326 points.

During the year, the shares of the vehicle rental company controlled by the Simpar holding company rose 56%.

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Apple tries to restrict ‘clear everything scam’ on iPhones

Apple should include a feature in the next iPhone operating system update to prevent thieves from being able to access sensitive cell phone apps if they know the device’s unlock password.

Understand: Today, anyone who has access to this code can even change settings or apps that are protected by facial or digital recognition – such as banks.

• This is because the unlock password is the option used when other types of access fail;

What will change: iPhone owners who activate Stolen Device Protection will be able to restrict changes to certain settings when the cell phone is away from safe places, such as at home or work.

These include accessing stored passwords, changing Apple ID settings, viewing payment information, and blocking Find My iPhone.

1. To make these changes, the user will have to use Face ID or Touch ID, wait an hour and then confirm the changes with facial or fingerprint recognition.

1. This way, it would be more difficult to erase the device and resell it, for example.

1. There will be no need for the delay if the user is in a trusted location, such as home or work.

Apple hasn’t said when the new feature will be made available to all customers, but the company plans to release iOS 17.3 publicly early next year.

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Anything goes at the company party?

The arrival of the end of the year in companies is usually accompanied by Christmas baskets, internal disputes over who will work on which holiday and the expected – or dreaded – company party.

Reporter Patrick Fuentes spoke with lawyers to understand what to do and what should be avoided in this type of celebration to avoid causing a bigger problem than a hangover in the employee’s life:

↳ What not to do? The firm’s party is an extension of the professional environment, so lawyers recommend avoiding excesses and large exposures.

• Any type of disrespect and harassment, obviously, are acts that can lead to punishment. See here how to report sexual harassment at work.

↳ Can you drink? Yes, but moderation and respecting your limits are recommended when enjoying the drink offered.

↳ What to wear? Even though it is a more informal event, the clothes must be in line with the company’s dress code and the atmosphere of the celebration.

↳ Can I be fired? For experts, it depends on the severity of the situation caused by the employee and their history before the get-together.

• But there are cases of excesses that were even punished with dismissal for just cause.

How to behave? The recommendation is to take advantage of the moment to strengthen ties with colleagues and even create new opportunities for professional development.