MercadoLibre Inc. accused Argentine banks Monday of “illegally concentrating” under one payments platform as an anti-competitive tactic against the company’s fintech arm, Bloomberg News reported. Latin America’s largest company by market valuation filed a legal complaint before Argentina’s National Commission in Defense of Competition after banks — under their shared platform MODO — filed their own legal complaint in May alleging similar anti-competitive strategies by the firm’s Mercado Pago unit.
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Argentina's economic activity likely fell in June versus the same month a year earlier, analysts said, back in the red after a rare rise the month before amid tough austerity measures and cost-cutting under libertarian President Javier Milei, Reuters reported. The median forecast from 16 analysts sees economic activity down 1.9% year-on-year in the sixth month of the year, dropping back from May's 2.3% rise, as growth in the grains and gas sectors is weighed down by weak consumption and construction.
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