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☆ Brazil's QI Tech raises $200 million in General Atlantic-led round
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Oct 31 (Reuters) - QI Tech, a Brazilian financial services provider to businesses, raised 1 billion reais ($200 million) in a Series B round led by General Atlantic to fund future acquisitions while preparing for a potential public offering, the company said on Tuesday. The Sao Paulo-based firm provides banking services and digital infrastructure for businesses. With the funds, QI Tech will be "very attentive to market opportunities," co-founder and Chief Financial Officer Marcelo Bentivoglio told Reuters. In addition to General Atlantic, the round was joined by Across Capital Partners, which already was a shareholder in the firm. QI Tech had also previously received investments from Singapore's GIC in a round that raised $50 million.

Persons: Marcelo Bentivoglio, Bentivoglio, Patricia Vilas Boas, Peter Frontini, Chris Reese Organizations: SAO PAULO, QI Tech, General Atlantic, Tech, Reuters, Across Capital Partners, Thomson Locations: Sao Paulo, Brazil

☆ China automaker BYD to invest $620 million in Brazil industrial complex
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, July 4 (Reuters) - Chinese automaker BYD (002594.SZ) on Tuesday said it will invest 3 billion reais ($620.17 million) in a new industrial complex in northeastern Brazil, as it aims to boost local production to offer more competitive prices. The complex, made up of three plants, will be built in the Camacari industrial park in the northeastern state of Bahia, on land formerly occupied by a Ford (F.N) plant that closed in 2021. The announcement comes on the back of a reported push from the government to incentivize BYD to build a new electric car hub after Ford closed its plant in the state. One of the plants will be dedicated to production of chassis for buses and electric trucks, BYD said in a statement. ($1 = 4.8374 reais)Reporting by Patricia Vilas Boas; Writing by Carolina Pulice; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Ford, incentivize, BYD, Patricia Vilas Boas, Carolina Pulice, Bill Berkrot Organizations: SAO PAULO, Ford, Thomson Locations: Brazil, Bahia

☆ Google aims to avoid 'perverse' regulation in Brazil, says executive
▼ + stars: | 2023-06-27 | by ( Patricia Vilasboas | ) www.reuters.com time to read: +2 min

SAO PAULO, June 27 (Reuters) - The top executive of Google Brazil said on Tuesday the company encourages greater dialogue around regulating digital platforms in the country, in order to change a bill that might turn out to be "perverse" for everyone. Nearly two months ago, country's top court ordered an investigation into executives at social messaging service Telegram and Google who were in charge of a campaign criticizing a proposed internet regulation bill. Fabio Coelho, vice president of Google Inc and Google Brazil director, told reporters during an event that the company is in dialogue with Brazilian authorities and "is not against" the regulation of digital platforms. In April, Google launched a manifesto signed by the company's country director of government relations and public policy, Marcelo Lacerda, against the approval of "hasty" legislation. It redirected users to a blog post of text which was signed by Lacerda, which made numerous criticisms against the bill.

Persons: Bill, Fabio Coelho, Coelho, Orlando Silva, Marcelo Lacerda, Patricia Vilas Boas, Matthew Lewis Organizations: SAO PAULO, Google, Fake News, Google Inc, Alphabet Inc, National Telecommunications Agency, Lacerda, Sao Paulo, Carolina, Thomson Locations: Google Brazil, Sao

☆ Brazil watchdog offers plea deals to Americanas employees in fraud probe
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, June 20 (Reuters) - The president of Brazil's securities watchdog CVM on Tuesday urged employees from Americanas (AMER3.SA) with information about the retailer's alleged multi-billion-dollar fraud to give testimony in exchange for potential plea deals. Americanas last week admitted to a large-scale accounting fraud with current top managers slamming former executive, banks and auditors for their alleged involvement in "fraudulently altered" financial statements. Americanas filed for bankruptcy protection in January after uncovering an over $4 billion accounting scandal. The report issued on Tuesday accused ex-CEO Miguel Gutierrez and half a dozen other former executives and employees of committing fraud. Reporting by Patricia Vilas Boas; Writing by Carolina Pulice; Editing by Sarah Morland and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: CVM, Joao Pedro Barroso, Nascimento, Americanas, Miguel Gutierrez, Patricia Vilas Boas, Carolina Pulice, Sarah Morland, Aurora Ellis Organizations: SAO PAULO, Federal, Thomson Locations: Americanas

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