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Severe Drought Hits South America
  + stars: | 2021-10-26 | by ( Juan Forero | ) www.wsj.com   time to read: 1 min
HERNANDARIAS, Paraguay—Most years, when rains are normal, four Olympic swimming pools worth of water passes each second through the mammoth Itaipú Dam, churning out electricity for both Paraguay and Brazil and allowing ships and barges to export grains as far away as China. Since 2019, however, rainfall levels have dropped sharply—not just here, but in much of the heart of South America—and left a vast swath baking in drought. Dozens of hydroelectric dams in Brazil have sputtered, driving up energy prices there. And the river transport of soybeans, the regional cash cow, has been severely hampered in the grain hub of Rosario, Argentina.
Organizations: South America — Locations: HERNANDARIAS, Paraguay, Brazil, China, South, Rosario, Argentina
Indonesia, U.S. call on G20 to plan pandemic prevention system
  + stars: | 2021-10-26 | by ( ) www.reuters.com   time to read: +2 min
JAKARTA, Oct 26 (Reuters) - The United States and Indonesia on Tuesday called for the launch of a forum to prepare for future pandemics, urging members of the Group of 20 leading economies to seize an opportunity this month to plan for an international response system. "We have all personally grappled with the deep human and economic cost brought on by this borderless, unforgiving pandemic. The United States and Indonesia, which have similar size populations, have been among the worst affected in their respective regions. The G20 includes the United States, Japan, Britain, Russia, Brazil, China, Germany, Canada, Australia and South Korea, among others. It called for greater inclusiveness and less bureaucracy and said a joint response was critical for poorer counties that lack resources to respond fast, including with vaccinations.
Persons: Janet Yellen, Sri Mulyani Indrawati, Martin Petty, James Pearson Organizations: Treasury, Indonesian Finance, World Health Organization, Thomson Locations: JAKARTA, United States, Indonesia, Rome, Japan, Britain, Russia, Brazil, China, Germany, Canada, Australia, South Korea
Itau forecasts Brazil downturn in 2022
  + stars: | 2021-10-25 | by ( Reuters Staff | ) www.reuters.com   time to read: +1 min
Economists at Itau Unibanco revised their 2022 economic growth forecast to -0.5% from 0.5%, adding that they expect Brazil’s benchmark interest rate will climb to 11.25% as the central bank attempts to keep inflation in check. A looser fiscal outlook will force the central bank to make even more aggressive rate hikes, choking off a fragile recovery from a deep COVID-19 recession, Itau forecast. The analysts now project interest rate hikes of 150 basis points at policy meetings this week and in December, up from increases of a full percentage point in recent meetings. The Itau report added that additional hikes of 100 or 125 basis points would fail to rein in inflation, while anything more than 150 basis points could tip Brazil into a profound recession. In a speech in Brasilia later in the day, Economy Minister Guedes appeared to shoot back at the Itau report, saying that the nation’s economy had outperformed expectations in 2021.
Persons: Paulo Guedes, Itau Unibanco, Jair Bolsonaro, Guedes, “ They’re, ” Guedes, “ It’s, José de Castro, Marcela Ayres, Gram Slattery, Sandra Maler Organizations: SAO PAULO, Economy, Itau Locations: Brazil, Brasilia
Hawkish calls during a central bank meeting on Wednesday have risen on increasing fears of the government breaching its spending limit and fanning inflation. One of the most aggressive central banks worldwide, another 100-basis-point hike to 7.25% is expected in Brazil. Petrobras was also boosted by Brazilian President Jair Bolsonaro reiterating that he was considering the privatization of the state-run oil firm. Oil exporter Colombia's peso rose slightly. The world's top copper producer Chile's currency rose 0.8%, while Chile's IPSA extended gains to a fourth straight session.
Persons: Susan Mathew, Ambar Warrick, Hawkish, Solange Srour, Lucas Vilela, Jair Bolsonaro, Chile's IPSA, Shailesh Kuber, Jonathan Oatis Organizations: Petrobras, Credit Suisse, Oil, Brazil Bovespa, Mexico IPC, Argentina MerVal 89698.84 Locations: Brazil, Stocks, Mexico, China, Argentina, Chile, Colombia, Peru, Bengaluru
REUTERS/Kevin Lamarque/File Photo/File PhotoWASHINGTON (Reuters) - U.S. President Joe Biden is issuing an order on Monday imposing new vaccine requirements for most foreign nationals traveling to the United States by air effective Nov. 8, the White House said. Biden is also lifting restrictions in place since early 2020 that have barred most non-U.S. citizens from traveling to the United States from places like China, India, South Africa, Brazil and much of Europe. The White House confirmed that children under 18 are exempt from the new vaccine requirements as are people with some medical issues. Non-tourist travelers from about 50 countries with nationwide vaccination rates of less than 10% will also be eligible for exemption from the rules. Those receiving an exemption will generally need to be vaccinated if they intend to remain in the United States for more than 60 days.
Persons: Kevin Lamarque, Joe Biden, Biden Organizations: Reagan National Airport, REUTERS, WASHINGTON, White House Locations: Washington , U.S, United States, China, India, South Africa, Brazil, Europe
Hawkish calls during a central bank meeting on Wednesday have risen on increasing fears of the government breaching its spending limit and fanning inflation. One of the most aggressive central banks worldwide, another 100 basis points hike to 7.25% is expected. Crude and copper prices jumped on tight supply, while iron ore prices recovered after a sell-off. Oil exporter Colombia's peso rose 0.2%, while gains in Mexico's peso was limited by data showing the country's economic growth decelerated in August. Stocks in Mexico broke a five-session losing run to gain 0.2%, while Chile's IPSA extended gains to a fourth straight session.
Persons: Susan Mathew, ructions, Hawkish, Solange Srour, Lucas Vilela, Chile's IPSA, Tayyip Erdogan, Shailesh Kuber Organizations: Credit Suisse, Oil, Petrobras, Anadolu, Brazil Bovespa, Mexico IPC Locations: Brazil, Mexico's, Latam . Stocks, Mexico, China, Argentina, Chile, Colombia, Peru, Bengaluru
WASHINGTON (Reuters) -U.S. President Joe Biden on Monday signed an order imposing new vaccine requirements for most foreign national air travelers and lifting severe travel restrictions on China, India and much of Europe effective Nov. 8, the White House said. REUTERS/Kevin Lamarque/File PhotoThe extraordinary U.S. travel restrictions were first imposed in early 2020 to address the spread of COVID-19. The White House first disclosed here on Sept. 20 it would remove restrictions in early November for fully vaccinated air travelers from 33 countries. One concern among U.S. officials and airlines is making sure foreign travelers are aware of the new vaccine rules that will take effect in just two weeks. International air travelers will need to provide proof of a negative COVID-19 test taken within 72 hours of departure.
Persons: Joe Biden, Kevin Lamarque, ” Biden’s, Biden Organizations: WASHINGTON, Reagan National Airport, REUTERS, White House, U.S . Centers for Disease Control, Prevention, CDC, World Health Organization Locations: China, India, Europe, Washington , U.S, U.S, COVID, United Kingdom, Ireland, South Africa, Iran, Brazil, United States
WASHINGTON (Reuters) -U.S. President Joe Biden on Monday signed an order imposing new vaccine requirements for most foreign national air travelers and lifting severe travel restrictions on China, India and much of Europe effective Nov. 8, the White House said. REUTERS/Kevin Lamarque/File PhotoThe extraordinary U.S. travel restrictions were first imposed in early 2020 to address the spread of COVID-19. The Biden administration also detailed requirements airlines must follow to confirm foreign travelers have been vaccinated before boarding U.S.-bound flights. The attestation form here notes it is a crime for air travelers lie about vaccination status. International air travelers will need to provide proof of a negative COVID-19 test taken within three days prior to departure.
Persons: Joe Biden, Kevin Lamarque, ” Biden’s, Ned Price, Biden Organizations: WASHINGTON, Reagan National Airport, REUTERS, White House, , U.S . Centers for Disease Control, Prevention, CDC, World Health Organization, Sputnik, Transportation Security Administration Locations: China, India, Europe, Washington , U.S, U.S, COVID, Britain, Ireland, South Africa, Iran, Brazil, United States, Nigeria, Egypt, Algeria, Armenia, Myanmar, Iraq, Nicaragua, Senegal, Uganda, Libya, Ethiopia, Zambia, Congo, Kenya, Yemen, Haiti, Chad, Madagascar, Mexico, inoculate
The comments are in thousands of pages of internal Facebook documents given to NBC News detailing Facebook’s internal debates around the societal impact of its platforms. Together the documents offer the deepest look provided to outsiders at the internal workings of the world’s largest social media company. She wrote at least eight separate letters, and her attorneys provided the internal documents to the SEC in support of her allegation that executives’ statements don’t match the truth. Jan. 6 impactThe internal turmoil over the Jan. 6 attack was apparent throughout the documents, beyond Schroepfer’s internal post. Facebook watched the movement’s “meteoric growth rates,” and related groups were among the fastest-growing groups on all of Facebook, according to some of the documents.
Persons: Mike Schroepfer, , , “ I’m, Frances Haugen, Haugen, Mark Zuckerberg, ” Haugen, Zuckerberg, That’s, Drew Pusateri, Joel Kaplan, Facebook’s, , Joshua Mitts, gotcha, John Pinette, ” Pinette, Bill Burton, Haugen’s, Facebook, Donald Trump, Joe Biden, Mark doesn’t, it’s, didn’t, Sophie Zhang, we’ve, ” Zhang, Zhang, Charles Clark, ” Clark, Harvey Pitt, ” Pitt Organizations: U.S . Capitol, Facebook, NBC News, Securities and Exchange Commission, SEC, NBC, Street, U.S, Senate, Consumer, Employees, Engineers, Regulators, Columbia University, Obama White House, Whistleblower, Reuters, MSI, “ Research, Hamas, Hezbollah, BuzzFeed News, Federal Trade Commission Locations: U.S, Washington, Poland, Myanmar, Sri Lanka, Europe, East, North Africa, Afghan, India, Singapore, Ukraine, Spain, Brazil, Bolivia, Ecuador
The G20 group of large economies recognized carbon pricing for the first time as a possible tool at a meeting in Venice in Italy this year. read moreThe International Monetary Fund has recommended a global average carbon price of $75 per tonne by the end of the decade. "We also need to recognize that carbon pricing in itself is no silver bullet." Reuters poll graphic on global minimum average carbon priceThe top three largest emitters - China, the United States and India - account for approximately half of global carbon emissions today. read moreEven the European Union, at the forefront of reducing carbon emissions, has set the carbon price at a little more than half the poll's recommendation.
Persons: Ernest Scheyder, Patrick Saner, Julien Holtz, Charles Kolstad, Jon Stenning, Swathi Nair, Prerana Bhat, Hari Kishan, Mumal Rathore, Ross Finley, Hugh Lawson Organizations: NRG Energy, REUTERS, Monetary Fund, Swiss, Reuters, International Energy Agency, IMF, Pictet Wealth Management, European Union, EU, Trading, Stanford University, Thomson Locations: Thomspsons , Texas, U.S, Ernest Scheyder BENGALURU, Paris, Venice, Italy, Glasgow, Brazil, India, Indonesia, China, United States, Cambridge
To figure that out, scientists at Climate Action Tracker, a research group, regularly scrutinize all the climate and energy policies that countries have enacted worldwide. (That’s a best estimate: the potential range is between 2.1 degrees and 3.9 degrees Celsius.) The United Nations will release its own analysis of global climate efforts Tuesday, though it has reached broadly similar conclusions in the past. Between 2000 and 2010, global emissions rose 3 percent per year on average. It’s not nearly enough for global emissions to peak in the next few years and then decline gradually.
Persons: , , Niklas Höhne, it’s, Trump, Jair Bolsonaro, Andrea Dutton, Biden, Höhne, “ We’re, Joeri Rogelj, Fatih Birol Organizations: United, World Bank, United Nations, NewClimate Institute, European Union, Ford, General Motors, International Energy Agency, University of Wisconsin, Madison, Grantham Institute, Climate, Environment, Imperial College London Locations: gigatonnes, Paris, Glasgow, United Nations, Pacific Northwest, Germany, China, Siberia, Turkey, California, India, Egypt, Indonesia, Brazil, Greenland, West Antarctica, United States, Mexico
The companies' ambitions stretch from the United States to Canada, Brazil, Europe and India, executives told Reuters. Farmers capture carbon by planting off-season crops, tilling the ground less and using fertilizer more efficiently. Sequestering carbon, however, can provide a new revenue stream for farmers looking to diversify in a volatile industry. "Corteva sees that as a way to deepen their relationship" with farmers, said Chris Harbourt, Indigo's global head of carbon. In return for small payments to farmers, ag companies gain access to valuable data, he said.
Persons: Peter Maxwell, Matt Tracy, Bayer, Alejandro Plastina, Plastina, Leo Bastos, Nutrien, Mark Thompson, Thompson, Cargill, Corteva, Chris Harbourt, Alex Bell, Agoro, Bell, Gunter Jochum, Justin Topp, Rod Nickel, Karl Plume, Caroline Stauffer, Matthew Lewis Organizations: Bayer AG, Handout, REUTERS, Nutrien Ltd, Cargill Inc, Corteva Inc, Reuters, Farmers, United Nations, National Academy of Sciences . Agriculture, Bayer, Iowa State University, Indigo, Carbon Alliance, Western Canadian Wheat Growers Association, National Farmers Union, Thomson Locations: Beaverton , Michigan, U.S, REUTERS WINNIPEG , Manitoba, CHICAGO, United States, Canada, Brazil, Europe, India, Illinois, Norway, Manitoba, North Dakota, Winnipeg, Chicago
The White House first disclosed on Sept. 20 it would remove restrictions in early November for fully vaccinated air travelers from 33 countries. The White House plans to outline the legal framework requiring COVID-19 vaccinations for most foreign air travelers replacing the current restrictions, as well as rules for exemptions from the requirements. The Biden administration will also detail requirements airlines must follow to confirm foreign travelers have been vaccinated before boarding U.S.-bound flights. The White House announced on Oct. 15 that the new vaccine rules would take effect on Nov. 8. International air travelers will need to provide proof of a negative COVID-19 test taken within 72 hours of departure.
Persons: Kevin Lamarque, Biden, David Shepardson, Simon Cameron, Moore Organizations: U.S, Reagan National Airport, REUTERS, COVID, Reuters, White House, White, U.S . Centers for Disease Control, Prevention, CDC, World Health Organization, Thomson Locations: Washington , U.S, U.S, COVID, United Kingdom, Europe, Ireland, China, India, South Africa, Iran, Brazil
Facebook takes down Bolsonaro video over false vaccine claim
  + stars: | 2021-10-25 | by ( ) www.reuters.com   time to read: +1 min
Brazil's President Jair Bolsonaro reacts during a ceremony to sanction the bill that create the Federal Regional Court, at the Planalto Palace in Brasilia, Brazil October 20, 2021. REUTERS/Ueslei Marcelino/File PhotoRIO DE JANEIRO, Oct 25 (Reuters) - Facebook (FB.O) late on Sunday removed a video by Brazilian President Jair Bolsonaro from its platforms, in which the far-right leader made a false claim that COVID-19 vaccines were linked with developing AIDS. "Our policies don't allow claims that COVID-19 vaccines kill or seriously harm people," a Facebook spokesperson said on Monday. Since then, Bolsonaro has avoided naming both drugs on his live broadcasts, saying the videos could be removed and advocating "early treatment" in general for COVID-19. The video in which Bolsonaro linked COVID-19 vaccines to AIDS, first broadcast on Thursday, remained available on YouTube as of Monday.
Persons: Jair Bolsonaro, Ueslei Marcelino, Bolsonaro, Pedro Fonseca, Anthony Boadle, Gabriel Araujo, Bernadette Baum Organizations: Federal Regional Court, REUTERS, Joint United Nations, AIDS, YouTube, COVID, Thomson Locations: Brasilia, Brazil, JANEIRO, Rio de Janeiro
To figure that out, scientists at Climate Action Tracker, a research group, regularly scrutinize all the climate and energy policies that countries have enacted worldwide. How Things ImprovedIn 2014, Climate Action Tracker estimated that the world was on track for nearly 4 degrees Celsius of warming by 2100, compared with preindustrial levels. (That’s a best estimate: the potential range is between 2.1 degrees and 3.9 degrees Celsius.) The United Nations will release its own analysis of global climate efforts Tuesday, though it has reached broadly similar conclusions in the past. It’s not nearly enough for global emissions to peak in the next few years and then decline gradually.
Persons: , , Niklas Höhne, it’s, Trump, Jair Bolsonaro, Andrea Dutton, Biden, Höhne, “ We’re, Joeri Rogelj, Fatih Birol Organizations: United, World Bank, United Nations, NewClimate Institute, European Union, Ford, General Motors, International Energy Agency, University of Wisconsin, Madison, World Resources Institute, The, Grantham Institute, Climate, Environment, Imperial College London Locations: gigatonnes, Paris, Glasgow, United Nations, Pacific Northwest, Germany, China, Siberia, Turkey, California, India, Egypt, Indonesia, Brazil, Greenland, West Antarctica, The United States, Mexico, United States
REUTERS/Amanda PerobelliBRASILIA, Oct 25 (Reuters) - Brazil plans to bring forward its goal of ending illegal deforestation by two or three years, Vice-President Hamilton Mourao said on Monday, six days before a global climate conference. Speaking at a news conference, Mourao said the government's previous goal was to end illegal deforestation by 2030. Mourao noted, however, there should be negotiations to pay Brazil some form of compensation for "environmental services" or its actions preserving the Amazon rainforest. The VP disputed claims regarding illegal mining on indigenous lands, saying the number of illegal gold miners in the Amazon region is overestimated. Mourao said the government has an obligation to crack down on illegal mining, pending a potential change in the law allowing mining in indigenous territories.
Persons: Amanda Perobelli BRASILIA, Hamilton Mourao, Mourao, Jair Bolsonaro, Lisandra Paraguassu, Ana Mano, Anthony Boadle, Paul Simao Organizations: REUTERS, Thomson Locations: Amazonia, Nova Xavantina, Mato Grosso, Brazil, Glasgow
Facebook reportedly divides countries into tiers to decide how moderation is handled per country. In one example from internal Facebook documents reviewed by The Verge, a group at Facebook met in late 2019 to discuss how best to focus moderation resources around the world ahead of several major elections. Countries including Israel, Iran, Italy, and Germany all occupied a step down on "tier one," according to the report. Worse: In countries like Myanmar, where Facebook is the main form of internet, those issues are amplified. For its part, Facebook said it is more flexible with moderation resources than the documents indicated.
Persons: , Frances Haugen, Brent Stirton, Mark Zuckerberg, Vox, Yanghee Lee, Miranda Sissons, Nicole Isaac, They've, Ben Gilbert Organizations: Facebook, Service, Trump, Capitol, UN Human Rights, Twitter Locations: India, Brazil, United States, Israel, Iran, Italy, Germany, Myanmar
The logo of Brazil's state-run Petrobras oil company is seen at its headquarters in Rio de Janeiro, Brazil October 16, 2019. read morePetrobras announced on Monday it will raise diesel and gasoline prices at the refinery gate starting on Tuesday, following a recent spike in oil prices and a sharp depreciation of Brazil's currency. The state-run firm said it will raise gasoline prices by 7% to 3.19 reais ($0.5656) per liter, while diesel prices will rise 9% to 3.34 reais. "Aligning our prices with international markets is especially relevant right now, as Petrobras has received atypical demand (from fuel distributors) for November," Petrobras said in a statement. Preferred shares in the company, which were up about 3.5% after Bolsonaro's remarks, extended gains following the fuel price hike.
Persons: Sergio Moraes, Jair Bolsonaro, Bolsonaro, Bolsonaro's, Lisandra, Marta Nogueira, Gabriel Araujo, Paul Simao Organizations: REUTERS, RIO DE, Petrobras, PETR4, Petroleo Brasileiro SA, Credit Suisse, Thomson Locations: Rio de Janeiro, Brazil, BRASILIA, RIO, RIO DE JANEIRO, Brasilia
A traveler wears a face mask while checking their phone on the arrivals level outside the Tom Bradley International Terminal (TBIT) at Los Angeles International Airport (LAX) amid increased Covid-19 travel restrictions on January 25, 2021 in Los Angeles, California. The White House on Monday said it will require airlines to check travelers' proof of Covid-19 vaccination and provide contact information to federal officials as part of new rules to lift pandemic travel restrictions starting next month. The Biden administration earlier this month said it plans to lift pandemic restrictions that barred most visitors from dozens of countries, including the U.K. and Brazil, on Nov. 8, allowing in vaccinated travelers. Vaccinated citizens and visitors will still have to show proof of a negative Covid test that was taken within three days of departure. Foreign visitors between age 2 and 17 must still take a Covid test three days before departure if they are traveling with a fully vaccinated adult.
Persons: Tom Bradley, Biden, Trump Organizations: Los Angeles International Airport, Biden, Airlines, U.S Locations: Los Angeles , California, Brazil, U.S
RIO DE JANEIRO, Oct 25 (Reuters) - In Brazil's largest favela of Rocinha, on the outskirts of Rio de Janeiro, a local project aims to promote recycling by donating food in exchange for bottle caps that are used to build skateboards. Each colorful skateboard is made of some 500 plastic bottle caps that are crushed, melted, placed into a mold and then baked in an industrial pizza oven. "It's made 100% from recycling plastic that is collected, recycled and fabricated here in Rocinha," said Arian Rayegani, a Canadian mechanical engineer who heads the Na Laje Designs project. REUTERS/Pilar Olivares Read MoreThe project gives food donations in exchange for the bottle caps. We want to create a hub and a center of innovation for recycling here in Rocinha," Rayegani said.
Persons: It's, Arian Rayegani, Wallace Mezquita, Pilar Olivares Read, Rayegani, Sebastian Rocandio, Sandra Maler Organizations: RIO DE, REUTERS, Leandra, Thomson Locations: RIO DE JANEIRO, Rio de Janeiro, Rocinha, Canadian, Brazil
Sibanye-Stillwater Ltd. is in advanced talks to buy two Brazilian miners for about $1 billion including debt, people familiar with the matter said, a bet on continued demand for metals used in the production of electric-car batteries. The South Africa-based miner would acquire Atlantic Nickel, which operates the Santa Rita mine, one of the world’s biggest open-pit nickel sulfide mines, and Mineracao Vale Verde, which is developing a copper-and-gold mine, the people said. The deal is expected to be announced in the coming days, assuming it doesn’t fall apart.
Organizations: Stillwater Ltd, Nickel Locations: Stillwater, Africa, Santa, Mineracao Vale
PSG's Neymar back in squad for Marseille trip
  + stars: | 2021-10-23 | by ( ) www.reuters.com   time to read: +2 min
Soccer Football - Champions League - Paris St Germain Training - Ooredoo Training Centre, Saint-Germain-en-Laye, France - October 18, 2021 Paris St Germain's Neymar during training REUTERS/Benoit TessierPARIS, Oct 23 (Reuters) - Paris St Germain's Neymar has recovered from a groin injury and could be reunited with Lionel Messi and Kylian Mbappe in attack against bitter rivals Olympique de Marseille on Sunday. The Brazil forward, who missed PSG's 3-2 Champions League home win over RB Leipzig on Tuesday, did not feature in Saturday's medical bulletin and is expected to be in the squad. "Neymar is available for the game," coach Mauricio Pochettino said on Saturday. Argentine winger Angel Di Maria, who missed the Leipzig game through suspension, is also back in the squad alongside Messi and Mbappe. OM coach Jorge Sampaoli however believes OM can cause an upset.
Persons: Paris St Germain's Neymar, Benoit Tessier PARIS, Germain's Neymar, Lionel Messi, Kylian, Sergio Ramos, Leandro Paredes, Mauricio Pochettino, I've, it's, Angel Di Maria, Mbappe, Zlatan Ibrahimovic, Sweden's Ibrahimovic, Uruguay's, Jorge Sampaoli, Julien Pretot, Toby Davis Organizations: Soccer Football, League, Paris St Germain, Saint, Paris St, Olympique de Marseille, RB Leipzig, Real Madrid, Saturday, PSG, OM, Velodrome, Messi, Ligue, Thomson Locations: Germain, Laye, France, Paris, Brazil, Argentine, Marseille, Leipzig
That every country pledged to help inspired a lot of high-fiving among the delegates in Paris, and deservedly so. It had taken a long time to persuade both rich and poor nations that a global problem required a global solution. But the delegates were under no illusion that these pledges would be enough to reach the 1.5 degree target. The lack of progress since Paris invites cynicism — at the very least, wariness — about Glasgow. The question now is whether the delegates in Glasgow can rise above this pessimism and surprise us all with truly meaningful steps.
Persons: Al Gore, Michael Benson, , General António Guterres, Organizations: Glasgow, Washington Post, midcentury, Biden Locations: Paris, Glasgow, China, Australia, Russia, India, Brazil, Mexico, United States, U.S
The real was up 0.5%, snapping a four-day losing streak, after having fallen more than 1% in the session. Four senior Treasury officials resigned on Thursday, amid signals that the government would try to increase the constitutional spending cap in order to boost welfare spending. The real remained the worst performing emerging market (EM) currency this week, set for a loss of 3.2%. The outlook is still fairly bleak for Brazil's financial markets, said emerging market economist Thomas Mathews at Capital Economics. Chile's president on Friday named central bank chief Mario Marcel to a second term as the country's head monetary policymaker.
Persons: Ambar Warrick, Susan Mathew, Paulo Guedes, pare, Thomas Mathews, Mario Marcel, Jerome Powell, Philippa Fletcher, Rosalba O'Brien Organizations: Televisa, Treasury, Economy, Capital Economics, Dow Jones, Federal, IPC, Mexico IPC, Argentina MerVal 87022.31 Locations: Brazil, Mexico, Chile, Argentina, Colombia, Peru
Brazil's Economy Minister Paulo Guedes gestures during a news conference with President Jair Bolsonaro (not pictured) at the Ministry of Economy headquarters in Brasilia, Brazil, October 22, 2021. REUTERS/Ueslei MarcelinoEconomy Minister Paulo Guedes said he would remain in place and announced the appointment of Esteves Colnago, a former central bank civil servant, to replace outgoing Special Treasury and Budget Secretary Bruno Funchal. Despite a budget tug-of-war with the government’s “political wing,” Guedes said at no point this week had he asked to quit. Funchal was one of four senior Treasury officials who resigned on Thursday “for personal reasons,” according to the Economy Ministry. That would make room for 84 billion reais ($14.7 billion) of extra spending next year, said the bill’s sponsor.
Persons: Paulo Guedes, Jair Bolsonaro, Ueslei Marcelino, Esteves, Bruno Funchal, Guedes, ” Guedes, Bolsonaro’s, Bolsonaro Organizations: Reuters, Treasury, Brazil's, Ministry, REUTERS, Ueslei, Ueslei Marcelino Economy, U.S ., Economy Ministry, Congress, Credit Suisse, UBS Locations: BRASILIA, Brasilia, Brazil, Funchal, Minas Gerais
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