Go to court

Cemex, the The largest cement company in Latin America, said that its subsidiary Cemex Spain will file an appeal before the Spanish Supreme Court to request the annulment of a resolution that imposed the payment of fines in that country for a tax issue that occurred between 2006 and 2009.

“In 2011, Cemex Spain was notified of the fines that resulted from the tax audit that covered the years 2006 to 2009, both inclusive,” the company said.

“In 2017, Cemex Spain filed an appeal before the National Court in Spain against the resolution of the Central Economic Administrative Court, which resulted in adverse and notified on November 30, 2021.”

The company said that if the Spanish Supreme Court rejects its request for cassation, or annulment of this adverse judgment, then it will have to pay the fines until the end of 2022 or the beginning of 2023. If the Court accepts the appeal, then this procedure It could be extended until 2024, the company calculated.

The giant Glencore mining company in the process of selling 10 more assets; while it will review another 15 and consider acquisitions as part of a portfolio restructuring to focus on what it called “the raw materials of the future.”

Glencore, which has more than 150 operating fields, has sold seven assets so far, including some zinc mines in Bolivia and a copper-gold mine in Australia.

It has 10 sales processes underway across its entire portfolio and an additional 15 assets under review that may not fit in with the company’s long-term strategy, the miner said during its annual investor day.

Glencore’s share price fell 4% in London on Thursday as investors began to take in the announcements.

The miner also said it would temporarily increase its net debt to $ 16 billion, the upper leg of its target range, for potential mergers and acquisitions, but added that it has no short-term targets.

Affirme Bank launched its Afirme Biss application, which is part of its deployment in digital channels and with the intention of serving 30,000 users in the first year of operations.

With this new application, Afirme said that it seeks to support entrepreneurs with adequate financial solutions to new forms of business management.

The foregoing with the firm purpose that they can adapt their processes to remote and digital environments to make their daily operation more efficient.

The Afirme mobile application for companies has more than 30 functionalities, among which are: security solutions such as facial and fingerprint recognition to enter the application to replace the password, activation and blocking of cards, protection and cancellation of checks , authorization of operations and user blocking.

Mendel, what offers companies financial management tools, announced that it raised 35 million dollars in a Series A investment round, resources that will allow it to boost its growth in the Mexican market.

The round was co-chaired by the US fund ALLVP Ventures, which is financed by former Paypal executives, at the same time as Better Tomorrow Ventures, who led the seed round for Mendel.

Mendel, which officially began operations in August, is a Mexican company that has a technological platform for the surrender and approval process of company expenses that is merged with corporate cards through Visa.

In addition to Zecler, the founders of the company are Alan Karpovsky, Helena Polyblank – Product Manager – and Gonzalo Castiglione – Director of Technology. The president of the company is José María Zas, a financial sector expert who was former president and CEO of American Express in Mexico, Brazil and Argentina.

Among the goals of Mendel, based in Mexico City, is to become the next Mexican ‘unicorn’, which are companies that exceed $ 1 billion in valuation by raising capital. The objective is to consolidate itself as the management suite of the financial directors of large Mexican companies, in addition to developing tools that allow business management to be digitized.


Leave a Comment