Day: June 3, 2020

Santiago Court confirms $73,000 sanction to PwC

The Santiago Court of Appeals confirmed the sanctions of 2,000 UF ($73660) imposed on the auditing company, and 1,500 UF ($55245), to the partner of PWC, for the infractions committed in the revision of the financial statements of the related Sociedad Pampa Calichera SA, Sociedad de Inversiones Oro Blanco SA and Norte Grande SA, as of June 2011.

98% of bank rejections on Fogape loans went to MSMEs

According to a study prepared by the National Convergence of SMEs and Cooperatives of Chile with Defensadeudores and the University of Playa Ancha, the response of the bank to the new financing line of the Guarantee Fund for Small Business Owners (Fogape) reaches a 98% rejection of MSMEs. This is in contrast of what the CMF statistics show that only 6% of the 148,909 applications made under the Fogape COVID-19 program, have been rejected.

LATAM Airlines Group’s shares increase by almost 38%

LATAM Airlines Group’s shares increased by almost 38% on the Santiago Stock Exchange yesterday. The stock rose 37.63% to CH$1,280.00, the largest increase of the day. Meanwhile, the amount negotiated reached CH$22,950.63 million. IPSA closed with a 1.75% rise, reaching 3,750 points. During the session, the shares of Falabella (+4.56%), Itaú (+ 4.45%), Copec (+3.89%) and Cencosud (+3.61%) increased. While, Entel (-1.96%), Salfa Corp (-1.68%), Security (-0.33%) and Mall Plaza (-0.29%) decreased.