Brazil minister blasts supermodel Bundchen, invites her to be environment envoy

BRASILIA (Reuters) – Brazil’s agriculture minister on Monday criticized supermodel Gisele Bundchen for saying Brazil is a deforester and said she will invite the supermodel to be an ambassador for the country’s efforts to supply the world with food while preserving nature. Minister Tereza Cristina Dias said on Twitter that Bundchen would receive the invitation soon, after striking out at […]

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Brazil pension reform will be 'humane,' proposal likely coming next week: aide

BRASILIA (Reuters) – Brazil’s Economy Minister Paulo Guedes said on Tuesday he will propose to President Jair Bolsonaro methods of combating fraud in the country’s bloated pension system that could save 20 billion reais a year. Guedes spoke jointly with presidential Chief of Staff Onyx Lorenzoni, who said Bolsonaro’s economic team was still finalizing details of the pension reform plan […]

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UPDATE 1-Brazil auto sales grew 15 pct in 2018, despite slump toward the end

(Recasts throughout with details from Anfavea press conference) By Marcelo Rochabrun SAO PAULO, Jan 8 (Reuters) – Sales and production of Brazilian automobiles grew last year, cementing the industry’s recovery from a deep recession despite the sector’s sluggish performance in the final months of 2018, the national automakers’ association said on Tuesday. According to data from Anfavea, as the association […]

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A New Order in Brazil as Bolsonaro Marks First Few Days in Power

Jair Bolsonaro has completed his first working week as president of Brazil after taking office on New Year’s Day. Elected on a platform of social conservatism and economic liberalism, he has followed through on several key campaign pledges in his first few days in office, delighting supporters — and investors keen on his pro-market message. So far the president has […]

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Brazil Judge suspends Boeing-Embraer deal for second time

A Brazilian judge has for the second time in a month stalled a US$5.26 billion deal between airplane manufacturers Boeing and Embraer. The temporary injunction issued Wednesday by Judge Victorio Giuzio Neto comes three days after the companies agreed to terms. A superior court overruled a similar decision by Neto only 10 days earlier. Continue Reading Below Boeing is to […]

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Brazilian central bank issues banking license to broker XP Investimentos

SAO PAULO, Dec 19 (Reuters) – Brazil’s central bank on Wednesday issued a banking license to XP Investimentos SA, it said in a statement, making the brokerage the most recent newcomer challenging traditional players in a highly concentrated banking sector. XP did not comment on its plans to operate as a bank. XP has among its shareholders Brazil’s largest private […]

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Vitol, rival oil traders in spotlight of Brazil bribery probe

SAO PAULO/LONDON (Reuters) – Brazil’s epic “Car Wash” corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. But graft allegations lodged by prosecutors last week against four of the world’s largest oil trading companies – Vitol SA, Trafigura, Glencore PLC and Mercuria Energy Group – have opened an explosive new […]

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Brazil prosecutors probe international trading companies

Brazilian prosecutors say they've launched an investigation into international trading companies suspected of paying more than $30 million in bribes to employees of state-owned oil company Petrobras. Vitol, Trafigura and Glencore are among the companies mentioned in Wednesday's statement from the Federal Prosecutors office. Other trading companies are being investigated, but their names haven't been revealed. Continue Reading Below Prosecutors […]

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Brazil ETFs Recuperate After Sharp Fall Off Tested Trend Lines

This article was originally published on ETFTrends.com. Brazilian markets and country-specific exchange traded funds rebounded Tuesday after a sharp fall off Monday triggered by a pullback in the real currency in response to weak commodity prices and a questionable move by president-elect Jair Bolsonaro. The iShares MSCI Brazil Capped ETF (NYSEArca: EWZ) was among the best performing ETFs on Monday, jumping […]

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