* Chile's Constitutional Court rejected an appeal filed by payment processor Transbank SA to reverse a previous ruling from antitrust court TDLC, Diario Financiero reported. The earlier ruling forced the company to reformulate its fee system for businesses, with Transbank arguing that the move was unconstitutional.
* Scotiabank Chile CEO Francisco Sardón said the bank will launch a three-year digital transformation plan as soon as it finishes integrating Banco Bilbao Vizcaya Argentaria Chile SA into its operations, Diario Financiero reported. The transformation will not involve a mass closing of branches, many of which will become financial advisory centers for clients.
* Credit Suisse AG has tapped Ilan Goldfajn, the former Brazil central bank chief, to be advisory board chairman at its Brazilian unit. Goldfajn will join Credit Suisse (Brasil) SA on Sept. 16 and help in the development of wealth management and investment banking segments.
* Brazilian central bank chief Roberto Campos Neto said the regulator is ready to propose a bill aimed at simplifying and lowering the cost of FX transactions in Latin America's largest economy, Reuters reported. The legislation's ultimate goal will be to achieve full currency convertibility within three to four years, Campos Neto said.
* Brazilian securities commission CVM imposed 587.2 million reais of fines in the second quarter, much higher than in the year-ago period due largely to a fine of more than 500 million reais against businessman Eike Batista, Valor Econômico reported.
* Banco Nacional de Desenvolvimento Econômico e Social is studying options to divest its stake in meat processor JBS and is likely to pursue a public sale instead of negotiating with a single buyer, Valor Econômico reported.
* Brazilian businessman Alexandre Frankel plans to exit the real estate development business and launch a new financial services company called Vitacon Capital, Valor Econômico reported. Vitacon will partner up with the Easynvest investment platform.
* Banco ABC Brasil SA said it has been invited to submit a binding offer for Portuguese lender Caixa Geral de Depósitos SA's Brazilian unit, Banco Caixa Geral Brasil SA, Valor Econômico reported.
* Brazilian Economy Minister Paulo Guedes said he will recommend selling all of the country's state-owned businesses because they are "dysfunctional" and should be denationalized to boost the government's coffers, Reuters reported.
* Brazilian securities commission CVM is seeking public comments on an exclusivity law that restricts the activity of autonomous investment agents by linking them to a single broker. Banco Santander (Brasil) SA and a number of other institutions said they are in favor of abolishing that exclusivity, while XP Investimentos Corretora de Câmbio Títulos e Valores Mobiliários SA defended the current model and argued that exclusivity agreements can bring added benefits in some cases, Valor Econômico reported.
ANDEAN
* While Colombia is likely to meet its 2019 fiscal target of 2.4% of GDP, the country will face challenges meeting the target for 2020, Fitch Ratings said. The risks to fiscal consolidation and to stabilizing public debt dynamics persist, while "optimistic assumptions underlying the 2020 budget that the government announced last month point to next year's deficit being higher than the budget without additional midyear adjustments," the rating agency said.
SOUTHERN CONE
* Inversiones La Construcción SA placed two tranches of bonds for 4 million unidad de fomento, Chile's inflation-indexed unit that was worth 28,000.30 Chilean pesos as of Sept. 4. Both bond tranches will mature June 15, 2027.
* Industrial output in Argentina declined 1.9% in July from a year earlier, marking the fifteenth consecutive month of production losses, Reuters reported, citing data from the national statistics agency.
* Economic activity in Chile increased 3.2% in July from a year ago, supported by manufacturing and trade, Reuters reported, citing central bank data.
PAN LATIN AMERICA
* Global reinsurers continue to look to Latin America for diversification, even though the natural catastrophe-prone region has not seen any significant market-hardening events since 2013, AM Best said in a report. As a result, the reinsurance market in Latin America remains soft, it added.
IN OTHER PARTS OF THE WORLD
* Asia-Pacific: Axa mulls sale of Malaysian JVs; China opens interbank FX market to 3 brokerages
* Middle East & Africa: FirstRand posts results; Sanlam targets Egypt; Ghana sees room for policy easing
* Europe: Brexit saga continues; Novo Banco could face €106M loss; Sweden holds rate
Pablo Jimenez Arandia contributed to this article.
The Daily Dose has an editorial deadline of 8:00 a.m. São Paulo time, and scans news sources published in English, Portuguese and Spanish. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.
