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Exclusive-Casino's GPA considers spinning off Colombia's Exito -sources
  + stars: | 2021-06-14 | by ( Tatiana Bautzer | ) sentiment -1.00   time to read: +2 min
FILE PHOTO: General view of an Assai store, cash-and-carry division of Brazilian retailer GPA SA, in Sao Paulo, Brazil, January 11, 2017. The spinoff of wholesale unit Assai from GPA, last March, resulted in an immediate rise of 10% of the companies’ combined market capitalization. GPA considers the ideal alternative would be to list Exito in Sao Paulo and give Exito shares to its shareholders base. GPA and Casino are considering if the best alternative would be to maintain its listing in Colombia only and issue Brazilian Depositary Receipts (BDR) to Brazil-based GPA shareholders, or to list it in another venue, the sources said. One of the sources mentioned the possibility of listing Exito in the U.S. and issuing receipts for negotiation in Colombia and Brazil.
Persons: Paulo Whitaker, France’s Organizations: SAO PAULO, Reuters, SA, Colombian Almacenes Exito SA, REUTERS, Colombian Locations: Sao Paulo, Brazil, Latin America, Colombia, Uruguay, Argentina, U.S,
BRASILIA, June 14 (Reuters) - Forecasts for Brazilian growth, inflation and interest rates in 2021 hit new highs, a survey of economists showed on Monday, with the central bank now seen tightening policy much faster as inflation sails above the upper limit of its target range. Following the release of stronger-than-expected first quarter gross domestic product growth figures earlier this month, the median 2021 growth forecast jumped to a new high of 4.9% from 4.4%, the survey showed. The FOCUS survey on Monday showed that economists’ year-end Selic median forecast jumped to 6.25% from 5.75% a week ago. Next year’s median forecast held steady at 6.50%. Central bank chief Roberto Campos Neto said recently that the bank is “100% committed” to meeting its inflation goals.
Persons: Roberto Campos Neto, , Jamie McGeever, Chizu Nomiyama Organizations: FOCUS Locations: BRASILIA, Central
The Maryland-based biotech company Novavax reported Monday that its experimental Covid-19 vaccine is safe and 100 percent effective against moderate to severe disease. The company has already completed a Phase 3 trial in the U.K., but the U.S. trial results are required to apply for emergency use authorization in this country. The Novavax vaccine is given in two doses, 21 days apart. The Pfizer, Moderna and Johnson & Johnson vaccines all work by providing genetic instructions for the body to build the coronavirus's spike protein, which the immune system learns to recognize and fight. The Novavax vaccine can be stored in standard refrigerator temperatures.
Persons: Novavax, Biden, Joe Biden, William Schaffner, Dr, David Hirschwerk, Robert Wood Johnson, Julie Morita, Morita, Johnson Organizations: Food and Drug Administration, Vanderbilt University Medical Center, for Disease Control, Alpha, Robert Wood Johnson Foundation, Chicago Department of Public Health, NBC, Trump, FDA, Johnson, Pfizer, BioNTech, Moderna, CDC, Twitter, Facebook Locations: Maryland, U.S, Mexico, Nashville , Tennessee, Manhasset , New York, Brazil, South Africa, India, Moderna
After a reversal last year, global ad spending is forecast to snap back from the pandemic even faster than previously predicted, GroupM said in its latest forecast. Last year, global ad spending slipped 3.5% to $628 billion. Multinational and international marketers, such as Chinese companies spending abroad, are also accelerating digital ad spending, he added. Last year, the top five ad sellers—Google, Facebook, Amazon, Alibaba and ByteDance—generated $296 billion in ad revenue, or 46% of global ad spending, according to the report. Ten years earlier, the top five ad sellers—Google; Viacom and CBS; News Corp. and Fox; Comcast, and Disney —collected only 17% of global ad spending, GroupM said.
Persons: GroupM, Brian Wieser, Mr, Wieser, Alibaba, alex plavevski, Disney —, , Alexandra Bruell Organizations: WPP PLC, Inc, Inc, Facebook Inc, Multinational, Google, Facebook, Global, Viacom, CBS, News Corp, Fox, Comcast, Disney, , Tokyo Locations: Brazil, China, U.S, , Japan
Novavax Covid-19 Vaccine Is 90% Effective in Key Study
  + stars: | 2021-06-14 | by ( Peter Loftus | ) + 0.00   time to read: +10 min
Despite the study results, Novavax said it needs much of that time to ensure that its manufacturing processes meet regulatory standards. Novavax started its late-stage, or Phase 3, trial of the Covid-19 vaccine in late December. Novavax said that the vaccine was 93.2% effective combined against the variants of concern and variants of interest in the study. One challenge conducting the study, Novavax said, was the availability of authorized vaccines. In all, about 5,000 people dropped out of the study, Novavax said, meaning the Covid-19 cases that were used to determine efficacy occurred among the remaining 25,000 study subjects, Dr. Glenn said.
Persons: Novavax, , Gregory Glenn, T.J, Kirkpatrick, Stanley Erck, Erck, Biden, Johnson, wasn’t, Glenn, Peter Loftus Organizations: Novavax Inc, Wall, Health, U.S . Food, Drug Administration, Pfizer Inc, Moderna Inc, Pfizer, BioNTech, Moderna, FDA, D.C, GlaxoSmithKline, Johnson, AstraZeneca, National Institutes of Health, peter.loftus Locations: U.S, Mexico, Gaithersburg, Md, China, Covid, Washington, Chile, Brazil, India
"G7 leaders have utterly failed to face up to the challenges facing the world," said Nick Dearden, director of campaign group Global Justice Now. This summit proves beyond all doubt that the G7 is not fit for purpose," Dearden said. In a note Monday, Paul Donovan, chief economist at UBS Global Wealth Management, referred to the G-7 as a "selfie summit." "The main focus of the G7 meeting (the photo opportunity) seemed to go well. Extinction Rebellion (XR) activists take part in the "Sound The Alarm" march during the G7 summit in Cornwall on June 11, 2021 in St Ives, Cornwall, England.
Persons: Charles Michel, Joe Biden, Yoshihide Suga, Boris Johnson, Mario Draghi, Leon Neal, Nick Dearden, Dearden, Paul Donovan, Donovan, Jeff J Mitchell Organizations: European, Japanese, Italian, Getty, Hong, Sino, U.S, of British Industry, Global, EU, European Commission, European Council, UBS Global Wealth Management, WHO, World Trade Organization Locations: U.S, British, Carbis, Carbis Bay, Cornwall, China, England, Xinjiang, Hong Kong, Canada, France, Germany, Italy, Japan, Australia, India, South Korea, United States, St Ives, South Africa, Switzerland, Norway, Brazil
Google dangles paid upgrade to businesses using Gmail addresses
  + stars: | 2021-06-14 | by ( Paresh Dave | ) sentiment -0.51   time to read: +2 min
The logo of Google is seen on a building at La Defense business and financial district in Courbevoie near Paris, France, September 1, 2020. REUTERS/Charles Platiau/File PhotoAlphabet Inc's (GOOGL.O) Google on Monday unveiled an option for small businesses to upgrade their Gmail accounts for greater calendaring, video chat and email newsletter functionalities. The small-business offering compares with existing plans aimed at larger organizations that have their own websites to use in email addresses. Big businesses will be able to control encryption of their files on Google Drive for the first time and prevent Google from unlocking them. All users now have access to Google Chat, the company's successor to instant-message program Google Hangouts.
Persons: Charles Platiau, Javier Soltero, Soltero Organizations: Google, La Defense, REUTERS, YouTube, Airbus, Thomson Locations: Courbevoie, Paris, France, United States, Canada, Mexico, Brazil, Australia, Japan
Novavax COVID-19 vaccine more than 90% effective in U.S. trial
  + stars: | 2021-06-14 | by ( Carl O'Donnell | ) + 0.00   time to read: +3 min
Vials labelled "COVID-19 Coronavirus Vaccine" and syringe are seen in front of displayed Novavax logo in this illustration taken, February 9, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoNovavax Inc (NVAX.O) on Monday reported late-stage data from its U.S.-based clinical trial showing its vaccine is more than 90% effective against COVID-19 across a variety of variants of the virus. Novavax's protein-based COVID-19 vaccine candidate was more than 93% effective against the predominant variants of COVID-19 that have been of concern among scientists and public health officials, Novavax said. The vaccine was 91% effective among volunteers at high risk of severe infection and 100% effective in preventing moderate and severe cases of COVID-19. It was roughly 70% effective against COVID-19 variants that Novavax was unable to identify, Glenn said.
Persons: Dado Ruvic, Novavax, Novavax's, Gregory Glenn, Glenn, Stanley Erck, Erck, SII Organizations: REUTERS, COVID, Reuters, Serum Institute of India, Thomson Locations: United States, Mexico, United Kingdom, Brazil, South Africa, India, Maryland
Things are getting back to normal, but vaccine rates continue to lag in some parts of the country. Areas of low vaccine coverage will see surges, especially as new variants enter the mix. The government must engage in door-to-door outreach to get vaccine rates up, or risk COVID surges in under-vaccinated areas. According to the CDC, vaccine coverage tends to be lower in counties that had lower socioeconomic status and a higher number of households that had single parents, children, and disabled people. For one thing, this mixed vaccination coverage will create surges and hotspots in communities where vaccine coverage is low.
Persons: Abdullah Shihipar, they've, YouGov Organizations: New York Times, FEMA, Postal Service, Census Locations: Vermont, Mississippi , Alabama, Louisiana, Alabama, Mississippi, Britain, Brazil, New York City
Chile's Sanchez out of Copa America group stage with foot injury
  + stars: | 2021-06-13 | by ( ) sentiment -0.93   time to read: +1 min
Soccer Football - World Cup - South American Qualifiers - Argentina v Chile - Estadio Unico, Santiago del Estero, Argentina - June 3, 2021 Chile's Alexis Sánchez after sustaining an injury POOL via REUTERS/Agustin MarcarianChile forward Alexis Sanchez will miss the group stage of the Copa America due to a leg injury, the national team said in a statement late on Saturday. The 32-year-old was diagnosed with a muscle problem on his foot after training on Friday and will not travel to Brazil with the rest of the Chile squad for the tournament. "The estimated recovery time exceeds the first phase of the Copa America, for which the athlete will remain in his recovery process in Chile, with the medical team of the national team," the team said. Chile begin their Copa America campaign against Argentina at Rio de Janeiro's Nilton Santos stadium on Monday. They are also set to take on Bolivia, Paraguay and Uruguay in Group B.
Persons: Alexis Sánchez, Agustin Marcarian, Alexis Sanchez, Nilton Organizations: Soccer Football, Estadio Unico, Copa America, Argentina, Nilton Santos, Thomson Locations: Argentina, Chile, Santiago del Estero, Agustin Marcarian Chile, Brazil, Rio de, Bolivia, Paraguay, Uruguay
Brazil's president was fined in his own country for violating local mask mandates, the AP reported. Jair Bolsonaro must pay $110 for participating in a motorcycle rally in Sao Paulo without a mask. Brazilian President Jair Bolsonaro on Saturday received a $110 fine after failing to wear a mask in Sao Paulo, the Associated Press reported. Bolsonaro had been riding his motorcycle through the streets of Sao Paulo, where local mask ordinances remain in place. This is at least the second time Bolsonaro received a fine for violating local mask ordinances.
Persons: Jair, Jair Bolsonaro, Bolsonaro, maskless, crematoriums, He's Organizations: AP, Associated Press, Sao Paulo, Johns Hopkins University Locations: Sao Paulo, Brazil, Sao, Maranhao
During the G7 summit, world leaders said they aimed to end the pandemic next year. Leaders laid out a plan to deliver at least 1 billion additional COVID-19 vaccine doses. Ending the pandemic next year would require vaccinating at least 60% of the global population, the G7 leaders said. Some 2.34 billion COVID-19 vaccine doses have been administered as of Sunday morning, according to Johns Hopkins University. The G7 leaders said they have supported Covax — the global vaccine-sharing program led by bodies including the World Health Organization — as the primary method of delivering vaccines to the world's poorest countries.
Persons: Joe Biden, António Guterres, Guterres, Biden, Kevin Lamarque, Dr, Gavin Yamey, World Health Organization — Organizations: United Nations, Johns Hopkins University, Reuters, Center for, Global Health, Duke's Global Health Institute, World Health Organization Locations: United Kingdom, India, Brazil, COVID, Germany, Italy, France, Canada, Japan
But a closer look reveals NFTs are no more than a pump-and-dump scheme designed to make a few crypto insiders rich. Beeple NFTs were being pumped by crypto bros months beforehand, only to culminate in a large sale that brought a media storm to NFTs and the world's attention to a graphic artist who few people previously had ever heard of. The Singapore native had been anonymously bidding up the price of Beeple NFTs starting in October. And he gave 2% of the B20 token supply — an index fund representing the value of those NFTs — back to Beeple. Similarly, buyers of NFTs will be left holding the bag, when people realize what people were convinced were collectibles, are better off being disposables.
Persons: doesn't, Christie's, Mike Winkelmann, Beeple NFTs, Jorge Stolfi, NFTs, Ivor Downie, Stolfi, , Vignesh Sundaresan —, Justin Sun, Metakovan, he'd, Beeple, Beeple —, Trump, Guy Fawkes, Pablo Rodriguez, Rodriguez, Fraile, Nifty, I've, Will Cong, It's, you've Organizations: University of Campinas, International Star Registry, Cornell University Locations: Brazil, Singapore, American, Will, Beeple
Brazil reports 1,129 new COVID-19 deaths, nearly 40,000 cases
  + stars: | 2021-06-13 | by ( ) + 1.00   time to read: 1 min
Healthcare & Pharmaceuticals · 8:05 PM UTC AstraZeneca shots have good risk-benefit profile for over 60s, says EMA officialThe head of the EU drug regulator's COVID-19 task force said on Sunday that AstraZeneca's (AZN.L) coronavirus vaccine had a favourable risk-benefit profile for all age groups and particularly for those aged over 60.
Persons: regulator's COVID Organizations: Pharmaceuticals, AstraZeneca
Covid News: Judge Dismisses Houston Hospital Workers’ Lawsuit Over Vaccine Mandate Experts worry a steep drop in testing will making tracking U.S. outbreaks harder. Judge dismisses Houston hospital workers’ lawsuit over vaccination mandate. A health care worker holding a vial containing doses of the Johnson & Johnson coronavirus vaccine in Union City, N.J., in March. That mistake is most likely to blame for Emergent’s discovery in March that a batch of Johnson & Johnson vaccine had been contaminated with a key ingredient used to manufacture the AstraZeneca vaccine, the memo stated. decided that an additional 60 million Johnson & Johnson doses should not be used.
Persons: Chin Lee, Lynn N, Hughes, Jennifer Bridges, ” Judge Hughes, Bridges, , Marc Boom, Jared Woodfill, Jim Wilson, We’re, Susan Butler, Wu, Butler, Michael Osterholm, Mara G, Aspinall, Joseph Odelyn, Carissa Etienne, gasping, Richard Frechette, , Father Frechette, Elizabeth Campa, Zanmi Lasante, Ms, Campa, Jovenel Moïse, Le, Bruno Lemarquis, general’s, what’s, Lemarquis, Jacques Richard Miguel, Harold Isaac, Mauricio Lima, Moria, Johnson, Bryan Anselm, Dr, Peter Marks, Biden, Melina Delkic, ” Malcolm Clarke, it’s, Roy Cooper, Michael Gisser, Jodie, Mr, Cooper, Lauren Gibson, Buda Mendes, Jose Peseiro, Peseiro, ” Peseiro, Nelson Almeida, Argentina’s, , Roberto Firmino, Lucas Figueiredo, Jair Bolsonaro, Bolsonaro, Denis Grishkin, Sergey S, Sobyanin, Vladimir V, Putin, Rafael Nadal, Novak Djokovic, Felix Tshisekedi Organizations: Covid, Houston Hospital Workers, Houston Methodist Hospital, ., Houston Chronicle, Associated Press, District, Southern District of, Washington , D.C, Drug, for Disease Control, Houston Methodist, San Francisco International, New York Times, United States, University of Southern, Infectious Disease, University of Minnesota, College of Health Solutions, Arizona State University, The New York Times, Pan American Health Organization, Luke, University Hospital of Mirebalais, United Nations, Authorities, European Union, Johnson, Food and Drug Administration, Emergent, AstraZeneca, North Carolina State Fairgrounds, Breweries, Gov, Copa, Copa America, Brazil, Mane, Agence France, Copa América, CBF, EPA, Moscow News Agency, Reuters, Saudi Press Agency, Venezuelan national soccer team, Sunday, South American, Democratic, ” Reuters Locations: Moscow, Haiti, Baytown, Tex, ., Texas, Southern District, Southern District of Texas, United States, Washington ,, Maryland, U.S, Houston, United, University of Southern California, American, Associated Press Haiti, Covax, Port, Prince, Greece, Afghanistan, Lesbos, The New York Times ATHENS, Chios, Syria, Iraq, Baltimore, Union City, N.J, tote, Raleigh, N.C, Melina Delkic North Carolina, North Carolina’s, Charlotte, North Carolina, Brazil, Brasília, Venezuela, Caracas, Portuguese, Brasília ., Bolivia, South, Argentina, Colombia, Covid, Russian, epidemiologists, Russia, Saudi Arabia, Mecca, France, Canada, Democratic Republic of Congo, Kinshasa
Earth's inner core is lopsided: One side grows faster than the other, a new study says. That iron spheroid is the inner core, and it's nestled inside the planet's molten outer core. But according to a recent study published in the journal Nature Geoscience, the inner core is growing lopsidedly. Asymmetric growth in the coreA graphic showing how iron crystals are distributed and move around in Earth's inner core. The core's lopsided growth might impact Earth's magnetic fieldAn illustration of Earth's magnetic field, in blue, as it protects the planet from solar radiation.
Persons: Indonesia's, Daniel Frost, that's, Frost, he's Organizations: Nature, University of California, Getty, NASA Locations: Indonesia, Indonesia's Banda, Brazil, Berkeley
Live Covid Live Updates: China's Doctors Warn Cases Are More Severe in Its Latest Outbreak The warnings, delivered on state-run television, match trends in other countries where the Delta variant is spreading. In China’s latest outbreak, doctors say the infected get sicker, faster. Patients are becoming sicker and their conditions are worsening much more quickly, doctors told state-run television on Thursday and Friday. Four-fifths of symptomatic cases developed fevers, they said, although it was not clear how that compared with earlier cases. China’s National Health Commission announced on Friday that nine new cases had been found in Guangzhou the previous day.
Persons: Fauci, Guan Xiangdong, , Chen Bin, Albee Zhang, Paul Ratje, Tom Shimabukuro, Shimabukuro, Immunizations, Kaiti Sullivan, Joseph Allen Organizations: Getty, University, Delta, World Health Organization, Alpha, Health Commission, Guangzhou Municipal Health Commission, Pfizer, Moderna, The New York Times Federal, BioNTech, Centers for Disease Control, The New York Times, Harvard, of Public Health Locations: Wuhan, China, Guangzhou, Britain, Brazil, India, Delta, Seychelles, Mongolia, Shenzhen, Foshan, Albuquerque, U.S, United States, Chan
The next financial services all-star could come from Latin America, where fintech is exploding. The fund is earmarked for pre-seed and seed financial services companies in Latin America. When the next fintech all-star is born in Latin America, QED Investors plans to have a first crack at the company. It recently closed a $12 million fund named Fontes, Latin for fountains, that's earmarked for pre-seed and seed companies in Latin America. Now, the venture firm that made an early bet on fintech is taking another calculated risk in Latin America.
Persons: Ana Cristina Gadala, Maria, That's, Christine Hall, Nigel Morris, Frank Rottmn, Rottman, that's, Melia Russell Organizations: Fontes, Capital, Intuit, Twitter Locations: Latin America, America, Plenty, fintech, Gadala, Swedish, Nubank, São Paulo, Brazil, Mexico, Colombia, Chile, Peru
Live Covid Live Updates: Moscow Orders Shut Down as Russia Battles New Wave of Cases Doctors in China report more severe cases in the country’s latest outbreak. Now, with Western countries emerging from lockdowns, Russia runs the risk of entering a vicious new wave of the virus. The regulator, in a statement issued on Friday evening, said that Emergent BioSolutions had made those doses at the same time as other batches of the Johnson & Johnson vaccine that were found to be contaminated with the harmless virus used to manufacture the AstraZeneca vaccine. U.S. regulators have put the Baltimore facility under a microscope since March, when they discovered that a major production mishap had resulted in the contamination of a batch of Johnson & Johnson vaccines. Commuters this month in New Delhi, which has been hit hard by the coronavirus pandemic.
Persons: Sergei Ilnitsky, Sergey S, Sobyanin, Mr, , Vladimir V, Putin, ” Mr, , ’ hesitancy, Lindsey Wasson, ” Darby LaJoye, Guan Xiangdong, , Chen Bin, Albee Zhang, Joshua Roberts, Brian P, Monahan, Steny Hoyer, Nancy Pelosi, Ms, Pelosi, Eraldo Peres, Venezuela’s, Jair Bolsonaro, Ambev, Tariq Panja, Jim Lo Scalzo, Johnson, Atul Loke, Donald J, Trump, Biden, Biden’s, coronavirus, Boris Johnson, Ghebreyesus, , Megan Specia, Fahad Organizations: U.S ., Workers, ., MOSCOW, Kremlin, Passengers, Tacoma International Airport, Reuters, Transportation Security Administration, AAA, Disease Control, Prevention, Getty, University, Delta, World Health Organization, Alpha, Health Commission, Guangzhou Municipal Health Commission, Maryland, CNN, Democratic, Centers for Disease Control, Republican, Copa América, Copa, Associated, South, Globo, Brazil, Associated Press, Conmebol, Venezuelan, team’s, Barranquilla Mayor's, Agence France, Argentina, Brazilian, Brazil’s, Mastercard, América, Johnson, Emergent, Health, AstraZeneca, Health Canada, Food and Drug Administration, New York Times, Group, The New York Times, Manufacturing, Innovation Center, Saudi Media Ministry, Saudi Press Agency, Saudi, Saudi Embassy, Twitter, of Hajj Locations: Moscow, Russia, China, Russian, epidemiologists, lockdowns, U.S, Seattle, Covid, Air, Wuhan, Guangzhou, Britain, Brazil, India, Delta, Seychelles, Mongolia, Shenzhen, Foshan, Washington, Venezuela, South American, Argentina, Colombia, Brasília, South America, Venezuelan, United States, Barranquilla, Canada, Baltimore, Md, Health Canada, New Delhi, British, Saudi, Saudi Arabia, Mecca . Credit, Mecca
I'm sure that, in compliance with law and order, by complying with constitutional provisions, we will be together, whatever happens," Bolsonaro said. With nearly 490,000 people killed during the pandemic and tensions growing in Latin America's biggest country, Bolsonaro has been seeking the support of Brazil's roughly half a million officers. Bolsonaro, who was fined 552 reais ($108) by the Sao Paulo state government for not wearing a mask at the event, has made repeated baseless allegations of voter fraud in Brazil. Bolsonaro threw his support behind Trump's conspiracies of a stolen election last year, which culminated in the deadly assault on the U.S. Capitol building. Bolsonaro is now pushing for a bill for printed ballots rather than Brazil's modern computer voting.
Persons: Jair Bolsonaro, Bolsonaro, Luiz Inacio Lula da Silva, Bolsonaro's, Donald Trump Organizations: Armed Forces, Brazil's Health Ministry, Sao, U.S . Capitol, Thomson Locations: Sao Paulo, Brazil
Eight Venezuela players test positive for COVID-19
  + stars: | 2021-06-12 | by ( ) sentiment -0.96   time to read: +1 min
REUTERS/Pilar OlivaresEight Venezuela soccer players in Brazil for the Copa America have tested positive for COVID-19, health officials said on Saturday, a day before they meet the hosts in the tournament's opening game. The "members of the delegation include players and members of the backroom staff," said a statement from the Health Secretariat in Brasilia, where Sunday's game will take place. CONMEBOL said that in total 13 members of the Venezuela delegation tested positive. Venezuela said it was 11 and announced it was calling up an additional 16 players to join the squad for the month-long tournament. The Copa America, South America's equivalent of the European Championship, is due to run until July 10.
Persons: Pilar Olivares, Marcelo Quiroga Organizations: Nilton Santos, Venezuela, Copa America, Health, South American Football Confederation, CONMEBOL, Brazilian Health, Brazil, Sunday, Copa, European, Thomson Locations: Rio de Janeiro, Brazil, Brasilia, Venezuela, Argentina, United States, Copa America
Brazil's Ecorodovias plans $454 mln share offering - filing
  + stars: | 2021-06-11 | by ( ) sentiment -1.00   time to read: 1 min
Brazilian infrastructure concession firm Ecorodovias Infraestrutura e Logistica SA (ECOR3.SA) on Friday announced a share offering of around 2.3 billion reais ($454.35 million), which it expects to price on June 22. The offer, approved by Ecorodovias' board of directors on Wednesday, will be managed by BTG Pactual, Bradesco BBI, Itaú BBA, Bank of America and UBS BB, according to a filing late on Thursday. The company said the share offer is part of its corporate reorganization and that the co-controlling shareholder Igli has pledged to subscribe an amount of shares equivalent to the amount of 1.2 billion reais. ($1 = 5.0622 reais)Our Standards: The Thomson Reuters Trust Principles.
Persons: Ecorodovias, BTG Pactual, Bradesco, Igli Organizations: Logistica SA, Bank of America, UBS BB, Thomson Locations: Itaú
Slow Vaccinations in Developing World Set to Drag on Oil Demand
  + stars: | 2021-06-11 | by ( David Hodari | ) + 0.00   time to read: +4 min
At the same time, the world has finally burned off the glut of oil it built up when pandemic restrictions grounded flights and shut factories and restaurants last spring. Photo: christian hartmann/ReutersOil prices wavered early Friday, with Brent crude oil, the global benchmark, up 0.3% at $72.71 a barrel. Both benchmarks hit fresh multiyear highs on Wednesday, with optimism about resurgent demand having held Brent prices above $70 a barrel in recent weeks. Still, the status of Iranian supply represents an unknown for global producers. Should the parties reach an agreement in the coming weeks, Iranian production could rise to full capacity of 3.8 million barrels a day—up 1.4 million barrels from current levels—by the end of next year, the report added.
Persons: hartmann, Brent, Biden’s, David Hodari Organizations: International Energy Agency, IEA, Organization for, Petroleum, Reuters, Brent, Texas Intermediate, U.S Locations: Brazil, India, Malaysia, Covid, Paris, U.S
Archer’s flying taxi makes splashy debut in heated market
  + stars: | 2021-06-11 | by ( ) + 0.00   time to read: +3 min
The electric motors of flying taxi company Archer Aviation, are seen on one of the wings of their all-electric aircraft from inside a facility in Hawthorne, California, U.S. June 8, 2021. REUTERS/Mike BlakeArcher Aviation unveiled its first electric flying taxi “Maker” in a Tesla-style debut on Thursday as an increasing number of investors and aviation companies pile into the hot but yet-to-be-approved urban air mobility space. "Our real goal is to make a mass market transportation solution in and around cities," Adcock said. Asked about the approval process, the FAA said: "The FAA can certify new technologies such as eVTOLs through its existing regulations. Archer last week asked a California court to dismiss the lawsuit and courtersued Wisk for "false statements" regarding a separate criminal probe.
Persons: Mike Blake Archer, Kenny Taht, Archer, Brett Adcock, Adcock, John F, courtersued Organizations: Archer Aviation, REUTERS, Mike Blake Archer Aviation, Federal Aviation Administration, Reuters, Kennedy International, FAA, Boeing, Wisk, United Airlines, Thomson Locations: Hawthorne , California, U.S, Britain, Brazil, Los Angeles, Miami, New York City, Manhattan, California
To the main group of creditors, which includes bondholders, shareholders and suppliers, the company proposed converting the amounts owed into preferred shares entitled to special dividends, according to the sources. If creditors do not accept preferred shares, they may choose to receive payment in cash in 2041 at the 85% discount, but adjusted for inflation, the sources said. Samarco's debt with Vale and BHP totals 23 billion reais, while bondholders are owed the equivalent of 26 billion reais. Debt to large and medium-sized suppliers is about 310 million reais. The company proposed the full payment of debts to employees, totaling about 10 million reais, within 30 days after the plan's approval, the sources said.
Persons: Ricardo Moraes Samarco Mineracao, Samarco, Germano Organizations: Vale SA, BHP Billiton, REUTERS, Ricardo Moraes Samarco Mineracao SA, BHP Group Ltd, Reuters, Vale, BHP, Thomson Locations: Mariana, Brazil, Anchieta
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