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Latin America

Microsoft is struggling to retain its diverse workforce, with increasing numbers of women, Black, and Latine employees departing the company.  According to Microsoft’s latest diversity and inclusion report, female employees accounted for 32.7% of all exits globally in the fiscal year ending June 30, 2024, up from 31% the previous year.  In the US, Black and Latine employees also saw significant increases in departures, with Black employees making up 10% of exits (up from 8.7%) and Latinx employees comprising 9.8% of exits (up from 8%). Poaching and Business Shifts Cited

Brazil’s Supreme Court has lifted its ban on X—formerly known as Twitter—after its owner, Elon Musk, complied with key legal demands. The decision ends a lengthy standoff between Musk and Brazilian authorities. X Returns for Millions of Brazilian Users Brazil is one of X’s largest markets, with an estimated 22 million users. The platform had been suspended in Brazil since August 30 for not blocking accounts that spread false information and failing to appoint a legal representative in Brazil, which is required by law for foreign companies. According to a

Reddit is bringing its AI-powered translation tool to more than 35 new countries, with plans to rollout the feature across Latin America in the coming weeks. Following a successful introduction in France earlier this year, users in Brazil and Spain are now able to translate posts and comments with a simple click, making Reddit more accessible to non-English-speaking communities.  Seamless Translation Across Platforms This new feature allows Redditors to translate posts and comments into their preferred language across all platforms—mobile web, apps, and desktop.  A translation icon in the overflow

Hispanic Heritage Month, celebrated annually from September 15 to October 15, honors the history, culture, and contributions of Hispanic and Latine communities in the US.  It began as a week-long event in 1968 under President Lyndon B. Johnson and was extended to a month by President Ronald Reagan in 1988. The dates are significant because they coincide with the independence anniversaries of several Latin American countries, including Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Mexico, and Chile. In keeping with this year’s theme, “Inspiring Innovation and Empowering Communities,” here are

On Friday, Brazil’s top court ordered the immediate suspension of X—formerly Twitter—in the country following a months-long feud with owner Elon Musk. Now, rival platforms are benefiting. Bluesky Sees Surge in Sign-Ups Bluesky, which fully opened to the public in February 2023, is seeing massive surge in users, reportedly gained one million new users in just three days. The decentralized social app started off as a project by Twitter co-founder Jack Dorsey in 2019 when he was Twitter’s CEO. It has since become an independent public benefit corporation, with Twitter founder

Mexican fintech company OCN, which offers car rental models for gig workers in Mexico and the US, has successfully raised $86 million in equity and debt. The Series A funding round was led by Brazil’s Caravela Capital, with additional contributions from Collide Capital and Great North Ventures on the equity side, and New York-based i80 Group leading the debt portion. Innovative Solutions For Gig Workers Launched in 2022, OCN provides gig workers with new car rentals on a weekly fee basis, inclusive of maintenance and insurance.  Users also have the

Caliza has secured $8.5 million funding. Founded in 2021 by Ezra Kebrab, the Brazil-based startup transforms cross-border transactions in Latin America through the use of crypto stablecoins. The company recently secured funding led by Initialized Capital, enabling them to expand their innovative payment solutions that leverage Circle’s USDC (USD Coin), according to TechCrunch. “Caliza is building global financial infrastructure that removes borders from commerce,” Kebrab wrote on LinkedIn. “I’m excited to unveil the latest including our recent $8.5M round.” Bringing Speed and Stability to Cross-Border Payments Unlike traditional transfers made

Brazil’s government is hiring OpenAI to speed up the screening and analysis of thousands of lawsuits using AI to avoid costly court losses, according to Reuters. Court-ordered debt payments have consumed a growing share of Brazil’s federal budget. Their government estimated it would spend 70.7 billion reais ($13.2 billion) next year on judicial decisions it can no longer appeal. That figure does not include small-value claims, meaning the combined account of over 100 billion reais represents a sharp increase from 37.3 billion reais in 2015. How Will It Work? The

Prósperos has successfully raised $3 million in seed funding to advance its mission of empowering Latine communities through innovative financial solutions.  This funding round saw investments from FEBE Ventures, BAT VC, Tekton Ventures, and Courtyard Ventures, among others. Revolutionizing Financial Services For Latine Communities Founded in 2023 by Vinay Pai and Salvador Chavez, Prósperos aims to transform the financial landscape for Latine communities in the USA and Latin America.  The Prósperos platform provides two bank accounts and cards: one for the account holder in the USA and another for their

The Folklore, a platform known for connecting global consumers with African brands and diasporic fashion, has secured a substantial $3.4 million seed funding.  This round was spearheaded by Benchstrength Ventures, with contributions from Techstars, Black Tech Nation Ventures, and Slauson and Co. Connecting brands with Major Retailers In 2022, Folklore underwent a transformation. Originally a shopping platform showcasing primarly African brands, it now aims to enhance how emerging brands integrate into the retail landscape.  “[Brands] would come to me for advice on how to expand their footprint, how to get a loan or how

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