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☆ China's annual parliamentary meeting has ended. Here are the key takeaways
▼ + stars: | 2024-03-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's weeklong annual parliamentary meetings ended on Monday and for the first time in decades, the Chinese premier did not host a press conference. Such press conferences were a rare instance of press interaction with the highest levels of China's government. To be clear, the annual gathering of the top leadership is typically ceremonial in nature. The real power lies with the ruling Communist Party, which is headed by Xi, who is general secretary of the party and president of China. Here are some highlights of what was announced at this year's week-long parliamentary meeting, which started Tuesday last week and ended Monday.

Persons: Xi Jinping, Xi Organizations: of, Initiative, People's Congress, National People's, Communist Party Locations: Beijing, China, BEIJING

☆ Chinese leaders to hold annual 'Two Sessions' meeting as debate about bazooka-like stimulus swirls
▼ + stars: | 2024-03-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Edgar Su | ReutersBEIJING — China is set this week to kick off its annual parliamentary meetings, which investors are watching closely for signals on economic stimulus. China's economic policy is typically set at an annual meeting in December by leaders within the ruling Communist Party of China. GDP and other economic targetsThe Chinese People's Political Consultative Conference, an advisory body, is set to kick off its annual meeting on Monday. "On balance, the additional fiscal impulse this year, assuming a bazooka-like fiscal package is not forthcoming, is unlikely to be particularly large." China's foreign minister and premier typically hold press conferences during the parliamentary meetings, which generally end in mid-March.

Persons: Edgar Su, Wang Jun, Wang, Zong Liang, Louise Loo, Loo, Goldman Sachs, Bank of China's Zong Organizations: of, Initiative, Reuters, Huatai Asset Management, CNBC, Communist Party of China, U.S, Political Consultative Conference, National People's, Oxford Economics, Industry, Information Technology, Science, Technology, Housing, Bank of, Communist Party's, Communist Party of Locations: Beijing, China, Reuters BEIJING, U.S . Federal, RMB3.8tn, Bank of China's

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Super Micro, Eli Lilly, Lyft, DoorDash, Disney & more
▼ + stars: | 2024-03-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

UBS upgrades Norfolk Southern to buy from neutral UBS said it sees margin improvement for the railroad. Goldman Sachs initiates Super Micro as neutral Goldman said the stock is an "AI winner" but that valuation is full right now. UBS reiterates Eli Lilly as buy UBS raised its price target on the stock to $910 per share from $810. UBS reiterates Nvidia as buy UBS said it's sticking with its buy rating after a series of investor meetings with the company." Argus upgrades New York Times to buy from neutral Argus said it sees revenue growth for the newspaper company. "

Persons: Morgan Stanley, Disney, Piper Sandler, Piper, Guggenheim, Baird, SQSP, Goldman Sachs, Goldman, Bernstein, Tesla, underperform Bernstein, Eli Lilly, Wells, Melius, Citi downgrades Ferrari, Jefferies, Evercore, it's, Rosenblatt, Snowflake, Slootman's Organizations: BROS, Guggenheim, GSK, UBS, Norfolk Southern, Micro, JPMorgan, Nvidia, Kyverna Therapeutics, FLT, UDR, Conservative, America Health, RBC, Apple, Citi, Ferrari, Jefferies, BP, Barclays, Barclays downgrades, ISI, Toast Inc, Bank of America, Ball Corp, of America, Broadcom, New York Times Locations: Norfolk, China, New

☆ China doubles down on national security, expanding its state secrets law
▼ + stars: | 2024-02-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Edgar Su | ReutersBEIJING — China is beefing up national security measures by expanding its protections of state secrets to include a broad category of "work secrets." The new rules, set to take effect May 1, describe how precautions taken for state secrets should also apply to unclassified information known as work secrets. "There is a risk that individual departments will overzealously identify matters as 'work secrets,'" Daum said. He also founded the website China Law Translate, which published an unofficial English translation of the new rules. Growing national security concernsThe updated state secrets law comes as Beijing and Washington increasingly cite national security risks when announcing new restrictions for business.

Persons: Edgar Su, Xi Jinping, Jeremy Daum, Yale Law School's Paul Tsai, Daum, Jeremy Daum Yale Law School's Paul Tsai, Gabriel Wildau Organizations: of, Initiative, Reuters, Yale Law, Yale Law School's Paul Tsai China Center, China, Jeremy Daum Yale Law, Jeremy Daum Yale Law School's Paul Tsai China Locations: Beijing, China, Reuters BEIJING, Washington

☆ Brazil Retail Billionaire Abilio Diniz Dies at 87
▼ + stars: | 2024-02-18 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

BRASILIA (Reuters) - Brazilian billionaire Abilio Diniz, who built an empire in the supermarket retail sector, died on Sunday in Sao Paulo, according to his press office. The 87-year-old had been hospitalized at the Albert Einstein Hospital and suffered respiratory failure due to pneumonitis, his press office said in a statement. Diniz played a pivotal role in the history of Brazilian retail, serving most recently as vice-chairman of Carrefour Brasil and as a board member of the French group Carrefour. Diniz remained with the company he founded until 2013, when he took over as chairman of Brazilian food processor BRF, where he served for five years. Photos You Should See View All 33 ImagesIn 2014, Diniz acquired a stake in Carrefour Brasil through his private investment company Peninsula.

Persons: Abilio Diniz, Diniz, Pao de, Marcela Ayres, Chris Reese Organizations: Reuters, Albert Einstein Hospital, Carrefour Brasil, Carrefour, Forbes Locations: BRASILIA, Sao Paulo, French, Carrefour Brasil

☆ Malaysia invites China's Xi to visit, ramps up tourism target
▼ + stars: | 2023-12-01 | by ( Liz Lee | ) www.reuters.com time to read: +2 min

Journalists watch a giant screen broadcasting footage of Chinese President Xi Jinping speaking at the opening ceremony of the Third Belt and Road Forum (BRF), at the media centre in Beijing, China October 18, 2023. Government data showed Malaysia welcomed 498,540 Chinese tourists in the six months to June this year, a figure almost a third of pre-pandemic levels. Malaysia's economic growth is expected to meet the government's target of 4% this year, driven in part by stronger tourism. Malaysia's Prime Minister Anwar Ibrahim has also invited China's President Xi Jinping to visit the country, Norman said. "We are hoping that President Xi will consent to visiting Malaysia," he added.

Persons: Xi Jinping, Tingshu Wang, China's, Xi Jingping, Norman Muhamad, Anwar Ibrahim, Norman, Xi, Wang Yi, Zambry Abdul Kadir, Liz Lee, Bernard Orr, Ethan Wang, Jacqueline Wong Organizations: REUTERS, Rights, Malaysian, Malaysia's, Thomson Locations: Beijing, China, Rights BEIJING, Malaysia, Thailand, Government, New York

☆ Hong Kong set to rebound after hitting a one-month low, Asia markets fall across the board
▼ + stars: | 2023-11-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Edgar Su | ReutersAsia-Pacific markets fell across the board on Thursday ahead of key economic data from the region. South Korea's industrial output numbers surprised the market, registering a 3.5% fall compared to expectations of a 0.5% rise from economists polled by Reuters. Japan's Nikkei 225 slid 0.25% and extended its three-day losing streak, with the Topix also down by 0.14%. South Korea's Kospi also fell 0.29%, while the small-cap Kosdaq was marginally above the flatline. Futures for Hong Kong's Hang Seng index stood at 17,108, pointing to a rebound after the HSI hit a one month low on Monday and closed at 16,993.44.

Persons: Edgar Su, Kospi, HSI Organizations: of, Initiative, Reuters, Nikkei Locations: Beijing, China, Reuters Asia, Pacific, Japan, Australia

☆ Brazil food processor BRF widens net loss in Q3 on grain prices, chicken glut
▼ + stars: | 2023-11-13 | by ( Ana Mano | ) www.reuters.com time to read: +2 min

Logos of Brazilian meatpacker BRF SA are seen in the headquarters in Curitiba, Brazil October 1, 2019. BRF reported a 262 million real ($53.37 million) net loss in the third quarter, larger than the 136.7 million loss a year ago but slightly better than an LSEG consensus forecast of a 279 million real loss. Despite the hit, BRF said improvements in the company's operating performance were already showing results. BRF also said net revenue was 13.8 billion reais in the quarter, nearly the same as in the year-ago period. BRF said EBITDA came in at 1.2 billion reais ($244.45 million), slightly above LSEG consensus estimates of 1.17 billion reais.

Persons: Rodolfo Buhrer, BRF, Miguel Gularte, EBITDA, Ana Mano, Kylie Madry Organizations: meatpacker BRF, REUTERS, SAO PAULO, BRF SA, Management, JBS SA, Thomson Locations: Curitiba, Brazil, U.S

☆ China sets the tone on real estate, local government support at a high-level meeting
▼ + stars: | 2023-11-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China signaled support for property developers and resolving local government debt problems in a high-level financial meeting that ended Tuesday, according to a state media readout. Such twice-a-decade financial work conferences tend to set long-term policy directions, which then pave the way for more detailed moves. "Policymakers would establish long-term effective mechanism to resolve local government debt and 'optimize the structure of central and local government debt,'" the report said. Beijing began cracking down on property developers' high reliance on debt for growth in 2020. The massive real estate sector has slumped amid developer defaults and falling home sales.

Persons: Goldman Sachs, Maggie Wei Organizations: of, Initiative Locations: Beijing, China, BEIJING — China

☆ China's President Xi to Meet California Governor Gavin Newsom
▼ + stars: | 2023-10-25 | by ( Oct. | At A.M. | ) www.usnews.com time to read: 1 min

FILE PHOTO: Chinese President Xi Jinping speaks at the opening ceremony of the Belt and Road Forum (BRF) to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. REUTERS/Edgar Su/File Photo Reuters

Persons: Xi Jinping, Edgar Su Organizations: Initiative, of, People, REUTERS Locations: Beijing

Putin, who made the comments in a Kremlin meeting with Russian religious leaders of different faiths, said bloodshed in the region had to stop. "Our task today, our main task, is to stop the bloodshed and violence," said Putin, according to a Kremlin transcript of the meeting. And not only for the Middle East region. It could spill over far beyond the borders of the Middle East." The aim, he said, was to "launch a real wave of chaos and mutual hatred not only in the Middle East but also far beyond its borders.

Persons: Vladimir Putin, Edgar Su, Putin, Israel, Andrew Osborn, Cynthia Osterman Organizations: Initiative, of, People, REUTERS, Hamas, Thomson Locations: Beijing, Gaza, East, Moscow

☆ China's Xi makes first known visit to central bank -sources
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

Chinese President Xi Jinping speaks at the opening ceremony of the Belt and Road Forum (BRF) to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. REUTERS/Edgar Su/File Photo/File Photo Acquire Licensing RightsBEIJING, Oct 24 (Reuters) - Chinese President Xi Jinping made his first known visit to the nation's central bank since he became president a decade ago, two sources with knowledge of the matter said, as China's economy and financial markets grapple with headwinds. Xi, along with Vice Premier He Lifeng and other government officials, visited the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) in Beijing on Tuesday, the sources told Reuters. The purpose of the visit was not immediately known. The PBOC and SAFE could not be immediately reached for comment outside of business hours.

Persons: Xi Jinping, Edgar Su, Goldman Sachs Organizations: Initiative, of, People, REUTERS, Rights, People's Bank of China, State Administration of Foreign Exchange, Reuters, Capital, Thomson Locations: Beijing, Rights BEIJING, Capital outflows, China

Chinese Foreign Minister Wang Yi speaks at a press conference on the sidelines of the Third Belt and Road Forum (BRF), at the media centre in Beijing, China October 18, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsWASHINGTON, Oct 23 (Reuters) - China's top diplomat Wang Yi will travel to the United States later this week, senior Biden administration officials said on Monday, in a long-anticipated visit that comes amid soaring tensions in the Middle East, which U.S. officials hope Beijing can help contain. It is also the long-awaited reciprocal visit after several top U.S. officials including Blinken visited Beijing this summer. The visit also comes as Hamas' Oct. 7 attacks and Israel's response dominate global headlines, even as Russia's war in Ukraine grinds on. Washington is sending military aid to Israel and Ukraine, while Beijing has grown closer to Russia since the Ukraine war began and has called for a ceasefire between Israel and Hamas.

Persons: Wang Yi, Tingshu Wang, Wang, Antony Blinken, Joe Biden's, Jake Sullivan, Biden, Joe Biden, Xi Jinping, Blinken, ” Washington, Israel, Li Shangfu, Humeyra Pamuk, Simon Lewis, Deepa Babington Organizations: REUTERS, Rights, Biden, U.S, Hamas, East China Seas, Defense, Thomson Locations: Beijing, China, United States, Washington, San Francisco, Taiwan, South, Ukraine, Israel, Russia, U.S, Iran, Gaza, East, South China, Philippines

☆ China's Xi offers to help Sri Lanka; buy more of its exports
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Edgar Su/File Photo Acquire Licensing RightsBEIJING, Oct 20 (Reuters) - China is willing to offer assistance to Sri Lanka without political conditions and buy more of its exports, President Xi Jinping told his Sri Lankan counterpart on Friday in Beijing, state media said. Wickremesinghe was in the Chinese capital for the Belt and Road Forum that ended on Wednesday as well as talks on restructuring debt. "China is willing to continue to provide assistance to Sri Lanka without attaching political conditions, to help it cope with the difficulties it faces," Xi added. Last May Sri Lanka defaulted on its foreign debt as dollar reserves fell to a point where it was unable to pay for essential imports such as fuel and medicine. "China is willing to expand the import of Sri Lanka's ... products and will encourage Chinese enterprises to invest," Xi said.

Persons: Xi Jinping, Edgar Su, Xi, Ranil Wickremesinghe, Wickremesinghe, Lanka, Joe Cash, Clarence Fernandez Organizations: Initiative, of, People, REUTERS, Rights, Sri, Export, Import Bank of China, Forum, Thomson Locations: Beijing, Rights BEIJING, China, Sri Lanka, Colombo, Hambantota, Sri Lanka's

☆ China's Xi Jinping commits to more investments in Nigeria
▼ + stars: | 2023-10-19 | by ( Felix Onuah | ) www.reuters.com time to read: +2 min

It added that another $4 billion worth of letters of intent was received for new projects and investments in different sectors of the economy. Nigeria also signed contracts with China Harbour Engineering Company for the construction of the Lekki Blue Seaport in Lagos. Shettima met Xi, who asked for the protection of Chinese workers in Nigeria, according to the vice president's office. China had committed to rail projects in Nigeria in the past and to a seaport in Bonny Island in the Niger Delta. China had earlier agreed to provide 85% of the financing for the rail projects.

Persons: Xi Jinping, Edgar Su, Kashim Shettima's, Shettima, Xi, Felix Onuah, Chijioke Ohuocha, Jamie Freed Organizations: Initiative, of, People, REUTERS, Rights, Nigeria's National Agency for Science, Engineering Infrastructure, China Harbour Engineering Company, China Exim Bank, Thomson Locations: Beijing, Rights ABUJA, Nigeria, Africa's, Lagos, China, Bonny Island, Niger, Nigeria's

☆ UN chief 'horrified' by Gaza hospital strike that killed hundreds
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 18 (Reuters) - United Nations Secretary-General Antonio Guterres said he was "horrified" by hundreds of people killed in Tuesday's strike on a Gaza hospital. Before flying to the Chinese capital to attend the Belt and Road Forum, Guterres said on Wednesday he had appealed to Hamas for the immediate and unconditional release of hostages, and to Israel to allow immediate unrestricted access to humanitarian aid for Gaza. [1/2]United Nations Secretary-General Antonio Guterres speaks at the opening ceremony of the Belt and Road Forum (BRF), to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. REUTERS/Edgar Su Acquire Licensing RightsHe also emphasised the need for promotion of effective debt relief mechanisms to ensure that countries involved in the Belt and Road programme were not locked into unsustainable debt. (This story has been corrected to fix the day of week to say Tuesday, not Sunday, in paragraph 1)Reporting by Laurie Chen, Ella Cao and Liz LeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Antonio Guterres, Guterres, Edgar Su, Laurie Chen, Ella Cao, Liz Lee Organizations: United Nations, Initiative, of, People, REUTERS, Thomson Locations: BEIJING, Gaza, Israel, Beijing

[1/5] Chinese President Xi Jinping greets Russian President Vladimir Putin as they attend the opening ceremony of the Belt and Road Forum (BRF), to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. Putin and other foreign leaders sat with key Chinese officials from the 25-member Politburo on the front row, as Xi delivered his opening speech. The forum centres on the Belt and Road Initiative (BRI), a grand plan launched by Xi in 2013, that envisioned building global infrastructure and energy networks connecting Asia with Africa and Europe through overland and maritime routes. Western scepticism of Xi's grand plans stems from suspicions over the way it would extend China's global influence, analysts say. Xi is pushing to make the Belt and Road smaller and greener, moving away from big-ticket projects like dams to high-tech ones such as digital finance and e-commerce platforms.

Persons: Xi Jinping, Vladimir Putin, Edgar Su, Xi, Putin, BRI, Viktor Orban, Haji Nooruddin Azizi, Antoni Slodkowski, Simon Cameron, Moore Organizations: Initiative, of, People, REUTERS, Rights, Forum, EU, Washington, Thomson Locations: Beijing, Rights BEIJING, Tiananmen, Asia, Africa, Europe, China, Western Europe, United States, Ukraine

[1/5] Chinese President Xi Jinping greets Russian President Vladimir Putin as they attend the opening ceremony of the Belt and Road Forum (BRF), to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. REUTERS/Edgar Su Acquire Licensing RightsBEIJING, Oct 18 (Reuters) - Chinese President Xi Jinping warned against decoupling from China as he opened the Belt and Road Initiative (BRI) forum in Beijing on Wednesday, criticizing Western efforts to reduce dependence on the Chinese economy. The trade disruptions of the pandemic years have also added urgency to the desire to limit their dependence on China. WESTERN SCEPTICISMWestern scepticism of Xi's grand plans stems from suspicions over the way it would extend China's global influence, analysts say. Xi is making the Belt and Road smaller and greener, moving away from big-ticket projects like dams to high-tech ones such as digital finance and e-commerce platforms.

Persons: Xi Jinping, Vladimir Putin, Edgar Su, Xi, Putin, BRI, Viktor Orban, Haji Nooruddin Azizi, Azizi, Xi's, Antoni Slodkowski, Simon Cameron, Moore Organizations: Initiative, of, People, REUTERS, Rights, EU, Washington, Thomson Locations: Beijing, Rights BEIJING, China, Asia, Africa, Europe, Tiananmen, Taiwan, Western Europe, Afghanistan, Northern

☆ Brazilian farmer's giant rooster hobby hatches into profitable business
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

[1/5] FILE PHOTO-Agronomist Rubens Braz poses with his Giant Indian Urubu rooster named Galalau at the Avicultura Gigante, which breeds giant roosters for small-scale meat production and ornamental purposes, in Formosa, Goias State, Brazil September 1, 2023. REUTERS/Ueslei Marcelino/File Photo Acquire Licensing RightsBRASILIA, Sept 13 (Reuters) - When farmer Rubens Braz started breeding Brazilian chickens, he had no idea how big the operation - or the birds - would get. Some twenty years later, he now raises giant roosters for small-scale farming and hobby purposes in central Brazil and is making a living from surging sales across the country. His birds, called "Giant Indian Roosters," can grow over 120 centimeters (47 inches) tall. As the global avian flu crisis has put a damper on business this year, limiting the transport of live animals in Brazil, Braz said he has focused on supplying fertilized eggs to nearby farmers.

Persons: Rubens Braz, Gigante, Ueslei Marcelino, Braz, Avicultura Gigante, Isadora Machado, Ana Mano, Brad Haynes, Alexandra Hudson Organizations: roosters, REUTERS, Rights, Indian Roosters, Alexandra Hudson Our, Thomson Locations: Formosa, Goias State, Brazil, Rights BRASILIA, Goias

☆ Brazil poultry lobby sees little risk of nationwide export ban over bird flu
▼ + stars: | 2023-06-02 | by ( Ana Mano | ) www.reuters.com time to read: +2 min

Slideshow ( 4 images )Ricardo Santin, head of a group representing firms like JBS and BRF, told Reuters the agreements with trade partners should limit any export restrictions to smaller geographic regions. Still, the details of a 2004 bilateral sanitary protocol with China, Brazil’s top chicken buyer last year, could spell some pain for exporters. WOAH outlines best practices for “zoning” and compartmentalizing HPAI infection to specific areas at risk in order to ease nation-wide restrictions, allowing countries to continue to sell and export of poultry. The U.S., which competes with Brazil in poultry export markets, had HPAI outbreaks but continued to ship products. Still, total poultry meat exports rose 3% by volume and 14% by value, as revised trade agreements limited trade restrictions compared with a previous record U.S. bird flu outbreak in 2015.

Persons: Ricardo Santin, Santin, HPAI, WOAH Organizations: SAO PAULO, Reuters, World Organization for Animal Health Locations: China, Beijing, Brasilia, Rio Grande do Sul, Brazil, Japan, Mexico, South Africa, U.S

Companies Brf Sa FollowMay 15 (Reuters) - Brazil, the world's top chicken exporter, has for the first time confirmed Highly Pathogenic Avian Influenza (HPAI) cases but only in wild birds, the Agriculture Ministry said on Monday. The avian influenza virus can kill entire flocks of birds and cause losses for the farming sector. Epidemiological surveillance services will be intensified to detect potential cases in wild and commercial animals in the area close to where the cases were confirmed, a government source said. The agriculture ministry said that because the cases were detected in wild animals, Brazil's status "as a country free of HPAI" was not affected. The main importers of Brazil's chicken products in April included China, Japan, South Africa and Saudi Arabia.

Lula departs for China this weekend, but many executives and lobby groups have traveled ahead of the president, government officials said. JBS representatives said the company aims to bolster commercial ties with China, a key trading partner. In a statement, ABPA said they are seeking recognition from Beijing that Rio Grande do Sul and Parana are free of foot-and-mouth disease without vaccination, in order to export pork with bones and pork offal. China buys 44% of Brazil's pork exports by volume and around 14% of its chicken exports, according to ABPA data for the first two months of 2023. Some 62% of Brazil's beef exports went to China last year.

SAO PAULO (Reuters) -The confirmation of more bird flu cases in South America raised alarm bells in Brazil, which remains free of contagion even after its close neighbors Argentina and Uruguay confirmed cases there on Wednesday. Until now, bird flu cases had been detected in commercial farms in Bolivia, which borders Brazil, and in Peru and Ecuador, Favaro said. On Wednesday, cases in wild birds were confirmed in Uruguay and Argentina, sparking a health emergency in both. In recent days, Brazil also investigated suspected cases of the highly pathogenic bird flu. It has never registered a bird flu case.

☆ Brazilian lender Santander's Chairman Rial resigns
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Jan 20 (Reuters) - Brazilian lender Santander Brasil SA said on Friday its chairman and former chief executive, Sergio Rial, is resigning from his position at the firm. The resignation comes just days after Rial quit his short-lived job as chief executive of retailer Americanas SA after finding accounting "inconsistencies" that led the company to file for bankruptcy protection. Rial was Santander Brasil's CEO for six years, as well as the bank's regional head for South America, before transitioning to board chairman in early 2022. He is also chairman of the board at fuel distributor Vibra Energia SA (VBBR3.SA), vice chair at BRF SA (BRFS3.SA) and a board member at Delta Air Lines (DAL.N). Rial will be replaced on an interim basis by his vice chair, Deborah Stern Vieitas, until the bank's next general meeting on April 28.

☆ Lula's changes at Brazil farm ministry draw cries from food security agency
▼ + stars: | 2023-01-13 | by ( Ana Mano | ) www.reuters.com time to read: +2 min

The ministry did not comment on the changes, which are part of broader efforts by the new administration to cut government spending. In the memo, signed by a group of civil servants opposing the changes, they urge that the reshuffle be reconsidered "in the name of public health." The union ANFFA, which represents federal auditors who inspect food plants in the world's biggest chicken exporter, denounced the overhaul. "The federal laboratories network has struggled against drastic budget reduction and critical staff shortages for years," said ANFFA in a statement to Reuters. Reporting by Ana Mano in Sao Paulo Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

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