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Automotive component plant in Walesa closes due to the chip crisis

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Automotive component plant in Walesa closes due to the chip crisis

Automotive component supplier Lear Corporation, a North American multinational plant in Walesa, was laid off last Tuesday for chip shortages. The union and administration will meet again next Monday.

According to the Union of Metallurgical and Allied Industries (SIMA), the “layoff” will affect about 400 workers and has a six-month forecast, since went ahead but Radio Vale do Minho

The company, through HR director Christina Freitas, told O MINHO that it was “no 400,” but declined to disclose how many workers would be affected by the “layoff,” stressing only that it was “not 100%”.

With regard to the length of the layoff, the company says there is no forecast, “analyzed weekly in accordance with client requests.”

“Dismissal is a matter of reducing working hours and will always be coordinated with our client, who is mainly [Grupo] PSA. According to their news, we are going to move forward, ”said Christina Freitas.

When asked about MINHO, the HR director was reluctant to say how much of a reduction in working hours this was, sending additional clarifications via email. MINHO again interviewed the company via email but still hasn’t received a response.

Christina Freitas confirms that the “layoff” is due to the “global crises and raw materials crisis”. “We suffer the consequences,” he stresses.

“Big loss of salary”

In an interview with O MINHO, SIMA General Secretary Jose Antonio Simões said that a new meeting with company representatives is scheduled for Monday. “They will want to submit a new proposal that we do not yet know about,” the union leader notes, adding that “layoffs” means “a big loss of wages for the workers.”

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A North American International Automotive Components Company has been established in Walesa since 2009. In 2018 opened new production facilities, investing more than 5 million euros, which implies, according to the news of the time, a “significant” increase in jobs.

Also recently, as MINHO reported, Bosch in Braga was also fired due to a lack of semiconductors.

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Economy

Wall Street is back on a roller coaster of volatility. But Biden still has a positive balance for a year – Bolsa

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Wall Street is back on a roller coaster of volatility.  But Biden still has a positive balance for a year - Bolsa

US equities continued to test positive territory but eventually turned red in a volatile session with many ups and downs.

The Dow Jones industrial index fell 0.89% to 34,715.39 points. Remember, on January 5th it reached a level that was not there before, 36,952.65 points.

The Standard & Poor’s 500 fell 1.10% to 4482.73. Its historical maximum was reached in intraday trading on January 4 and amounted to 4818.62 points.

On the other hand, the Nasdaq Composite Technology Index lost 1.30% to 14,154.02 points. Yesterday, the index entered correction territory, losing 10% from its previous closing record reached on November 19. Its all-time intraday high is 16,212.23 points, set on November 22.

Indices on the other side of the Atlantic once again fluctuated between profit and loss, trading in positive territory as the rise in sovereign debt rates stabilized.

The sun was short-lived, however, and late in the session, the sell-off movement seen in recent days became more visible again, especially in the technology sector, which has grown strongly over the past two years due to low interest rates. and that he now fears the consequences of a Fed rate hike that could start as early as March.

This drop in technology is not a promising sign ahead of the final quarter 2021 financial report, Bloomberg highlights. It will be Netflix’s turn today as soon as Wall Street ends its regular timeslot.

It has been a very volatile month for US stocks. Nevertheless, CNN notes, the first year of Joe Biden’s presidential term has a positive balance in the stock markets.

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A year ago on this date, Biden took office and the S&P 500 has risen about 18% over that period, hitting consecutive all-time highs. The Dow Jones is accumulating more than 12% gains, while the Nasdaq posted a less “impressive” performance of just 6%.

But this start to the year isn’t just bad for the Nasdaq. So far, the S&P 500 and Dow are down more than 4% since the first session of 2021.

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Economy

Bitbase Spaniards Want to Invade Portuguese Trade Centers with Crypto ATM

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Bitbase Spaniards Want to Invade Portuguese Trade Centers with Crypto ATM

Spanish giant Bitbase, a cryptocurrency retailer that completed a $52 million virtual asset transaction last year alone, has decided to choose Portugal as the first country to start international expansion.

The company will open its first store in the country next Monday, January 24th. The space will be located in Campo de Ourica, Lisbon. In a press release sent to Negosios, the company added that it still wants to launch cryptocurrency ATMs.

“The company’s vision is to make specialty stores accessible to the public, where people can not only buy or sell cryptocurrencies, but also provide information, advice, or buy other physical products related to the cryptographic world. the function is to explain in as much detail as necessary what cryptocurrencies, blockchain and decentralized finance (DeFi) are,” the company, led by Alex Fernandez, explains in a statement.

Contacting Negosios, Bitbase clarified that in the short term, “in addition to the store in Lisbon, we would like to open another one in Porto, as well as install four crypto terminals in malls.” By the end of 2022, the company still aims to recruit and train “five to ten people.”

Bitbase’s big bet in Portugal will be on the franchise, a model that is widely adopted in Spain and forms a prominent part of the spaces that represent the brand. After Portugal, the company wants to enter the markets of Great Britain and Colombia.

The Spaniards are in direct competition with the Portuguese “cryptomas”

The new Bitbase store will be the second store of its kind to be opened in the country, as Criptoloja, one of the “children of crypto” licensed by Banco de Portugal last year and in the meantime acquired by the Brazilian giant 2TM, already has a face-to-face service faces on Avenida da Liberdade in Lisbon.

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In terms of ATMs, they will also compete directly with another Portuguese “crypto baby”, Mind the Coin, which already has six crypto terminals: Braga, Maia, Faro, Alverca, and now Lisbon and Gaia, according to data provided by company and confirmed by Negosios on the Coin ATM Radar platform.

When asked when he would start installing new machines in Porto and other cities, manager Fernando Guimarães replied that “there is no formal schedule, but as soon as a partnership arises, we are ready to do it.”

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Economy

City Center Covilhã will open its doors in 2023. The shopping center will cover an area of ​​18,000 square meters – Empresas

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City Center Covilhã will open its doors in 2023.  The shopping center will cover an area of ​​18,000 square meters - Empresas

City Center Covilhã is due to open its doors in the second quarter of 2023, according to CBRE, the consulting company responsible for commercializing the commercial project. The real estate consulting firm said in a statement that the space is intended to “help increase investment at the gates of the city of Serra da Estrela.”

This shopping center, which will be located on the axis of the main road of Covilhã, will have a total area of ​​about 18,000 square meters and 14 stores, clarifies CBRE. In total, it will have two floors, “two of them with direct access from the arteries surrounding the project and parking for approximately 740 spaces, of which 242 are located on the surface.”

According to the newspaper O MIA, this project should create 600 jobs in the region. The project is promoted by Forumlar with Frontcity being the person responsible for the architecture. Forumlar’s directors, Artur Costa Pais and Paulo Ramos, have an investment portfolio of tens of millions of euros in consortium with other tourism, distribution and healthcare partners in the Serra da Estrela region.

“This type of project, which in some situations can be seen as an extension of street retail with additional parking valence for customer convenience, has proven to be an asset typology that is resilient to the negative effects of the pandemic,” explains Carlos Recio, director of retail advisory and transactional services at CBRE, quoted in the statement. .

“This feature was due, on the one hand, to the physical characteristics, since they are open spaces, large sizes and direct access to stores from the outside, which gives consumers a sense of security, and on the other hand, for the offer that they traditionally have, including some of the sectors of activity that were less affected by the drop in consumption.”

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