Finance

France's economy contracts 0.1% in the third quarter and government warns of crash risk without fiscal adjustment
France's economy contracted 0.1% in the third quarter of 2026, according to Insee, marking three consecutive quarters without growth. Economy Minister Roland Lescure called the situation "paralyzed" and warned the country could "crash" if the fiscal adjustment in the 2027 budget is not approved, which aims to cut the deficit to 5% of GDP. Inflation rose to 3.4% year-on-year in October and exports fell 1.7%.
FinanceInternationalNoticias RCNOct 30AI
France's economy minister warns the economy is "paralyzed" and could "crash"
France's GDP fell 0.1% in the third quarter, after stagnating in the second and contracting 0.2% in the first, according to Insee. Inflation accelerated to 3.4% year-on-year in October, its highest level since January 2024. Economy Minister Roland Lescure said the economy is "paralyzed" and warned that without the planned budget consolidation "we will crash." The government aims to cut the public deficit to 5% of GDP in 2027, from 5.4% in 2026.
FinanceInternationalRevista SemanaOct 30AI
ECB holds rates despite inflation and Lagarde announces 2027 departure
The European Central Bank kept its interest rates unchanged at its October meeting, as markets expected, despite faster inflation in the eurozone. The deposit rate stays at 2.5%, main refinancing operations at 2.65% and the marginal lending facility at 2.90%. Inflation reached 3.8% in September from 3.2% in August, driven by energy. At the same meeting, Christine Lagarde announced she will leave the ECB presidency on February 7, 2027.
FinanceInternationalPulzoOct 30AI
Skandia manages 51 trillion pesos for 315,000 clients and bets on turning savings into investment
Skandia, with more than 70 years in Colombia, manages over 51 trillion pesos for 315,000 clients and aims to channel those savings into companies, housing and productive projects. The firm has about 1,600 financial advisors, more than 50 portfolios and financial education tools such as Skandia Channel and Womento. Its collective investment fund assets grew 51.84% so far this year, the largest increase among the 18 fiduciaries in the Asofiduciarias report.
FinanceColombiaRevista SemanaOct 29AI
Sandisk Beats Fiscal Q1 Estimates, Announces Eight-for-One Stock Split
Sandisk beat estimates for its fiscal first quarter, issued an outlook for its fiscal second quarter and announced an eight-for-one stock split. The company's shares rose after the announcement.
FinanceInternationalInvestor's Business DailyOct 29AI
Rivian reports $2.155 billion in Q3 revenue, up 38%, with the R2 as its best-seller
Rivian released its third-quarter 2026 results: revenue of $2.155 billion, up 38% year over year and above analyst expectations. The R2, in its first full quarter of deliveries, is already its best-selling vehicle. The company raised its 2026 guidance on every metric and lowered its capex forecast. However, the automotive segment posted an $80 million gross loss, a -5% margin, and the company reported a net loss of $913 million.
FinanceInternationalElectrekOct 29AI
Fenalco says the 2027 minimum wage increase should not exceed 9%
Fenalco president Jaime Alberto Cabal said the minimum wage increase for 2027 should be around 9%, though he noted the figure will depend on inflation at the end of this year and on productivity. The percentage matches the one raised by Grupo Cibest executive president Juan Carlos Mora, who defended the mechanism of inflation plus productivity and some additional points. The CUT announced it will initially propose a 38.5% increase.
FinanceColombiaEl País (Cali)Oct 29AI
Informality, artificial intelligence and tourism: the focus of the 2026 National Hotel Congress
The 32nd edition of the National Hotel Congress began this Thursday, October 29, at the Neomundo Convention Center in Bucaramanga. The sector faces a drop in hotel occupancy to 48.0% between January and August 2026, from 49.7% in the same period of 2025, according to Dane, with real revenue down 7.5% and employed staff down 4.7%. Cotelco executive president José Andrés Duarte flagged informality as the main challenge, and deputy minister Julián Felipe Franco discussed tourist and economic impact targets.
FinanceColombiaEl TiempoOct 29AI
FONCEP hosts 23 Honduran students in Bogotá to exchange experiences on social security
The Fondo de Prestaciones Económicas, Cesantías y Pensiones (FONCEP) hosted 23 students from the master's program in social security systems administration at the Universidad de Defensa de Honduras in Bogotá. The session, held under an agreement with the Ibero-American Social Security Organization (OISS), included presentations on economic benefits, severance payments and pensions, a talk on cybersecurity and the testimony of a pensioner. The delegation presented a commemorative plaque to the entity.
FinanceColombiaPulzoOct 29AI
Barranquilla: from bankruptcy under Law 550 to generating 64% of Atlántico's GDP
Barranquilla went from being bankrupt and under Law 550 in 2002 to positioning itself as one of the country's most competitive urban economies, according to a Semana feature. The district paid about 1.5 trillion pesos to creditors through 2018. Today it generates around 50 trillion pesos in added value, 64% of Atlántico's GDP, and its monetary poverty fell to 23.4% in 2026, though analysts warn of outstanding debts.
FinanceColombiaRevista SemanaOct 29AI
Forum in Cartagena examines the economic and cultural weight of the Bazurto market
At the forum "Mercado Público de Cartagena, una transición histórica y cultural", held at the Biblioteca Distrital y Centro Cultural del Pie de la Popa, participants analyzed the economic and cultural value of Bazurto, which generates close to 10,000 direct jobs, 30,000 indirect ones and moves around 720 tons of goods daily. Specialists in economics, architecture and gastronomy discussed the challenges facing public markets and the need to balance their commercial activity, cultural heritage and the city's urban development.
FinanceColombiaEl Universal (Cartagena)Oct 29AI
Iovance falls on Wall Street after new doubts about the durability of its experimental lung cancer treatment
Iovance shares plunged on Thursday and lost their 50-day moving average, according to Investor's Business Daily, after new questions emerged about the durability of its experimental lung cancer treatment. The outlet describes Iovance as a top 1% biotech stock.
FinanceInternationalInvestor's Business DailyOct 29AI
Corporate medical plans in Colombia would rise 9.3% in 2027, according to Aon
The costs of medical plans that companies offer their employees in Colombia would rise 9.3% in 2027, according to Aon projections included in its Global Medical Trend Rates Report 2027. The increase would outpace expected general inflation and pressure organizations' budgets. Aon attributes the pressure to conditions such as cancer, cardiovascular and infectious diseases, as well as risk factors including obesity, hypertension and physical inactivity. The figure for Colombia is below the Latin America and Caribbean average (10.4%) and above the global average (9%).
FinanceColombiaDiario del SurOct 29AI
US GDP grows 3.4% in the third quarter as inflation rises
The US economy grew 3.4% in the third quarter, above the 3.1% expected by analysts and the 2.2% of the previous quarter, according to the Bureau of Economic Analysis. The gain came from investment, consumer spending and government spending, partly offset by a decline in exports. PCE inflation stood at 3.6% year-on-year in September, with a monthly rise of 0.5%, in a outlook marked by higher gasoline prices.
FinanceInternationalEl EspectadorOct 29AI
Drummond recovered 24,932 tons of waste in 2023, 82% of what it generated
Drummond Ltd. has incorporated circular economy practices at its mining operations in Colombia through its Comprehensive Waste Management Program. At a plant in Cesar it processes used tires from mining equipment to turn rubber and steel into raw materials for flooring, synthetic pitches and modified asphalt. It also sorts scrap metal, wood, cardboard, plastic, glass, used oils and batteries. In 2023 it reported recovering 24,932 tons of waste, 82% of the total generated.
FinanceColombiaDiario del SurOct 29AI
Fenalco asks that Colombia's 2027 minimum wage rise no more than 9%
Fenalco proposed that Colombia's minimum wage for 2027 rise no more than 9%, based on the inflation-plus-productivity formula. Its president, Jaime Alberto Cabal, made the proposal at the Asocajas congress in Cartagena. With the current base wage of $1,750,905, a 9% increase would mean $157,581 and leave the minimum at $1,908,486, excluding the $249,095 transport allowance. The CUT, CTC and CGT unions will seek 38.5%, which would take the base wage to $2,424,003.
FinanceColombiaDiario del SurOct 29AI
Banco de Bogotá projects an 8.5% minimum wage increase for 2027
Banco de Bogotá projects that Colombia's minimum wage would rise 8.5% in 2027, bringing the monthly base pay to about 1.9 million pesos excluding transport allowance. Its Economic Research Department considers 8% technically desirable, based on an estimated 6.8% inflation at the end of 2026 and 1.2% labor productivity. The bank warns that a double-digit increase would force Banco de la República to keep rates high for longer.
FinanceColombiaDiario del SurOct 29AI
US GDP grows 3.4% in the third quarter of 2026, beating forecasts
The US economy grew 3.4% in the third quarter of 2026, according to figures published Thursday by the Commerce Department. The reading tops the 2.2% of the previous quarter and economists' forecast of 3.1%. The expansion was supported by increases in investment, consumer spending and government spending, while a decline in exports partly offset those gains.
FinanceInternationalRevista ADVFNOct 29AI
Wall Street futures fall on Alphabet slide and US economic data
Wall Street futures pointed to a lower open on Thursday, with Nasdaq 100 futures down 1.3%, after quarterly results from major companies. Alphabet fell 11.1% premarket after reporting negative free cash flow and revenue below expectations, while Caterpillar dropped 11.7% despite beating estimates and Microsoft rose 2%. Investors also weighed September inflation data in line with expectations and third-quarter growth above forecasts, after the Fed held rates at 3.75%-4.00%.
FinanceInternationalRevista ADVFNOct 29AI
Dollar opened higher this Thursday in Colombia, $18.32 above the TRM
The currency opened the session higher at 3,180.67 pesos, a difference of 18.32 pesos from the day's TRM of 3,162.35. During the morning it recorded a low of 3,180 and a high of 3,182.50 as of 8:05 a.m. An analysis by José Luis Hernández of Corficolombiana noted that on October 29 a triple macro data release was expected in the United States —inflation, GDP and jobless claims— that could accelerate or not the Fed's rate decisions.
FinanceColombiaEl Universal (Cartagena)Oct 29AI