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"The revenue service is already organizing the implementation of this minimum taxation on multinationals," she said in an interview on Wednesday. The revenue service did not immediately respond to a request for comment. It advocates that this mechanism will ensure that large multinational companies pay a minimum 15% tax on their profits in all jurisdictions where they operate to deter profit-shifting to tax-favorable locations. The OECD estimates that the global minimum tax, already under way in countries including South Korea and Japan, could generate up to $200 billion in additional annual revenue. She also said Brazil aims to go further in the global tax discussion to reduce differences between advanced and emerging economies and to promote the green agenda.

Persons: India Narendra Modi, Luiz Inacio Lula da Silva, Joe Biden, Rishi Sunak, Kenny Holston, Tatiana Rosito, Maria Carolina Sampaio, GVM, Rosito, Marcela Ayres, Bernardo Caram, Matthew Lewis Organizations: U.S, UK, Rights, Finance, Reuters, Organization, Economic Cooperation, Development, OECD, International Monetary Fund, Thomson Locations: India, Brazil, New Delhi, Rights BRASILIA, South Korea, Japan, United States, Rosito, Brasilia

☆ Brazil cenbank cuts rates, with more likely to come, but flags 'adverse' backdrop
▼ + stars: | 2023-11-01 | by ( Marcela Ayres | ) www.reuters.com time to read: +3 min

The bank's rate-setting committee, known as Copom, unanimously reduced its Selic benchmark interest rate to 12.25%, a move expected by all 40 economists polled by Reuters. However, despite its expectation of keeping its pace of rate cuts, the bank mentioned an "adverse" global outlook that "requires caution on the conduct of monetary policy." The prospect of higher long-term U.S. interest rates has led to a tightening of global liquidity and strengthening of the dollar, adding to inflation pressures in emerging markets like Brazil. In its statement, the central bank also highlighted the persistence of elevated core inflation in several countries, alongside emerging geopolitical tensions following the outbreak of the Israel-Palestine conflict. The inflation target for the upcoming year and beyond stands at 3%, with the same tolerance interval.

Persons: Daniel Cunha, Luiz Inacio Lula da, Lula, Marcela Ayres, Diane Craft Organizations: Reuters, Thomson Locations: BRASILIA, Brazil, Israel, Palestine

☆ Fact Check: Brazil soccer fans video shared as pro-Palestinian rally in France
▼ + stars: | 2023-10-31 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A video of soccer fans walking to the Oct. 5 Copa Libertadores semi-final between Palmeiras and Boca Juniors has been mislabeled online as showing a pro-Palestinian rally in France. The nighttime video of a large column of people was also shared on Facebook. The video, however, was posted on X on Oct. 5 by a Brazilian football page called “Planeta do Futebol” and was credited to sports journalist Marcela Rafael. Rafael told Reuters in an email that the video shows fans of Brazil’s Palmeiras team before a match against the Argentine Boca Juniors in the Copa Libertadores, the South American equivalent of Europe's Champions League. The video shows soccer fans heading to watch a match in Sao Paolo, not a pro-Palestinian protest in France.

Persons: Marcela Rafael, Rafael, Rua Jose Benedito Boneli, Read Organizations: Copa Libertadores, Palmeiras, Boca Juniors, “, Palestine, Twitter, Facebook, Hamas, Reuters, Planeta, Futebol, Argentine Boca Juniors, Europe's Champions, Allianz Parque, Thomson Locations: France, “ France, Palestine, Israel, Palestinian, Sao Paolo

☆ U.S. back racking up gold while Pan Am Games problems mount
▼ + stars: | 2023-10-30 | by ( Steve Keating | ) www.reuters.com time to read: +4 min

Problems began early on Sunday when it was discovered the route for the women's 20 kilometre race walk won by Peru's Kimberly Garcia was nearly three kilometres short. After hitting the pause button the United States gold medal machine was back in gear on Sunday adding seven to their total. The Americans opened the Games piling up 59 gold over the first five days but managed just two over the next three. The U.S. also won three of the six gold on offer at the canoe slalom while the other three went to Brazil. Brazil finished the day claiming the gold in women's handball beating their great rivals Argentina 30-18 and in women's basketball with a 50-40 win over Colombia.

Persons: Ashley Twichell, Brazil's Ana Marcela Cunha, Brazil's Viviane, Pan, Peru's Kimberly Garcia, Garcia, Ana Marcela Cunha, Brennan Gravley, Twichell, Lauren Stephens, Ecuador's Jhonatan Narvaez, Steve Keating, Michael Perry Organizations: Santiago, Lima Pan Am, Pan American Athletics Association, Vina, Brazil's Tokyo, U.S, Pan Ams, Guadalajara Games, U.S . Olympic, Tokyo Games, Argentina, Colombia, Thomson Locations: Morros, Santiago, Chile, SANTIAGO, United States, Lima, Brazil, Mar, Paraguay, States, U.S, Mexico, Paris

☆ After Pan Am gold Twichell planning family trip to Paris
▼ + stars: | 2023-10-30 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

"Tokyo I definitely expected that to be the end of my career," Twichell, who finished seventh in Tokyo, told Reuters. "It was a tough lead up to Tokyo having the Games delayed a year by COVID and I just felt like I was kind of physically and mentally done and was excited to start a family. Twichell arrived in Santiago hoping for gold but unsure of her form after modest training times and going up against a strong field. "That is what I was definitely hoping for but I didn't know to be honest," said Twichell. Part of the motivation for continuing on to Paris for is that it is something Twichell can share with her son and family.

Persons: Ashley Twichell, Luisa Gonzalez, Twichell, Lochlan, Brazil's, Ana Marcela Cunha, COVID, Cunha, I'm, Twichell's, Steve Keating, Christian Radnedge Organizations: Rights, Pan American, Tokyo, U.S, Paris Olympic, Sunday, Brazil's Tokyo, Games, Reuters, Pan Am, Thomson Locations: Morros, Santiago, Chile, United States, Paris, Tokyo, Guadalajara, South Africa, Italy

FDI in Brazil fell 36% in the first eight months of 2023 to $37.9 billion. Currently, investors in long-term projects in Brazil with exposure to foreign currency pay taxes on currency appreciation over the course of the project - which the central bank has long flagged as a deterrent for FDI. Haddad said he was confident that policymakers had found a tool to shield investors from currency risks keeping them away. Executive orders in Brazil have immediate validity but must be endorsed by lawmakers within four months or they expire. Without that measure, Haddad said it will be "very challenging" to erase the deficit in next year's budget bill.

Persons: Fernando Haddad, Haddad, Luiz Inacio Lula da, Marcela Ayres, Bernardo Caram, Brad Haynes, Christopher Cushing Organizations: Finance, Reuters, Sao Paulo, leftist Workers Party, Executive, Thomson Locations: BRASILIA, Brazil, Brasilia, Sao, United States

☆ Brazil's Sao Paulo State Sweetens Railway Concession Proposal, Delays Auction
▼ + stars: | 2023-10-07 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Brazil's Sao Paulo state on Saturday sweetened the concession for the construction of a railway line connecting its capital to the city of Campinas and postponed the auction for the project, which is now earmarked at a cost of 13.5 billion reais ($2.6 billion). The bidding document for the public-private partnership linking the largest city in Latin America to Campinas, located 100 kilometers (62 miles) northwest of Sao Paulo, had been published in March. The state government, however, has now decided to raise its participation in the project to 8.5 billion reais, up from the previous 6 billion reais, it said in a statement. It also will reduce what it pays to the winning bidder during the 30-year concession to around 250 million reais, from 400 million reais. The winner will be whoever makes the lowest bid for payment by the state as part of an exchange-for-service provision.

Persons: Alberto Alerigi, Marcela Ayres, Paul Simao Organizations: Reuters Locations: Sao Paulo, Campinas, Latin America

☆ Brazil to call emergency meeting of UN Security Council over attack on Israel
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Ammar Awad Acquire Licensing RightsBRASILIA, Oct 7 (Reuters) - Brazil's Foreign Ministry said on Saturday it would convene an emergency meeting of the United Nations Security Council following the biggest attack on Israel in years. Brazil, which assumed the rotating presidency of the UN Security Council this month, condemned the attacks in a public statement and expressed solidarity with the people of Israel. It also reaffirmed a commitment to a "two-state solution," with Palestine and Israel coexisting within mutually agreed and internationally recognized borders. The Palestinian Islamist group Hamas launched the largest attack on Israel in years on Saturday, killing at least 40 people and injuring hundreds. "The Brazilian government reiterates that there is no justification for resorting to violence, especially against civilians, and urges all parties to exercise maximum restraint to prevent an escalation of the situation," the Foreign Ministry said.

Persons: Ammar Awad, Israel coexisting, Benjamin Netanyahu, Marcela Ayres, Brad Haynes Organizations: REUTERS, Rights, United Nations Security, UN Security, Hamas, Foreign Ministry, Thomson Locations: Gaza, Sderot, Israel, Rights BRASILIA, Brazil, Palestine, Palestinian

☆ US faces pushback on plan to bolster IMF funding without shareholding changes
▼ + stars: | 2023-10-06 | by ( David Lawder | ) www.reuters.com time to read: +5 min

[1/2] The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. Doing so, Ivory Coast President Alassane Ouattara said on Thursday, would "increase the voice and agency of member countries who are the most vulnerable" at the Fund. Martin Muhleisen, a former IMF strategy chief, said the plan "puts the Chinese on the spot to agree". A delay would be a major disappointment for the IMF after contentious 2019 negotiations left quota resources and shareholding untouched. "The Fund's not tight," said Mark Plant, a former IMF official now with the Center for Global Development.

Persons: Yuri Gripas, Joe Biden, Janet Yellen, Alassane Ouattara, Mark Sobel, Martin Muhleisen, Mark Plant, David Lawder, Andrea Shalal, Marcela Ayres, Peter Graff Organizations: Monetary Fund, REUTERS, Rights, International Monetary Fund, IMF, World Bank, Reuters, U.S . Congress, U.S, Treasury, U.S . Treasury, Brazilian, Center for Global Development, Thomson Locations: Washington , U.S, U.S, China, India, Brazil, Marrakech, Morocco, Ukraine, Saharan Africa, Coast, Washington, Beijing, Brasilia

☆ Nominate a leader for CNBC's debut Changemakers list: Women transforming business
▼ + stars: | 2023-10-03 | by ( Julia Boorstin | ) www.cnbc.com time to read: +6 min

Game-changing female leadership is a topic that is close to my heart, and I'm thrilled to announce a new annual list at CNBC, Changemakers: Women transforming business. The list will highlight 40 trailblazing women who have accomplished meaningful achievements in the past year, women from companies and organizations across all sectors of the economy, including philanthropic organizations. Together, we will highlight how today's successful women leaders are taking novel approaches to old business problems and identifying new business opportunities. To help us identify a diverse and inclusive list, we have created an advisory board of experienced leaders across the business and philanthropic space. CNBC Changemakers are the new icons rewriting the rules and shaping the dynamic business landscape.

Persons: I'm, I've, — Joanne Bradford, Desiree Gruber —, Marcela Miguel Berland, Tory Burch, Burch, Emma Carrasco, Corporate Affairs Srikant Datar, Harvard Business School Dean Karen Finerman, Beth Ford, Ken Frazier, Desiree Gruber, Kris Jenner, Oscar Munoz, Laurene Powell, Emerson, Sheryl Sandberg, Stacy Smith Organizations: CNBC, Fortune, Tory, NBCUniversal, Corporate Affairs, Harvard Business School, Metropolitan Capital, Catalyst's Health, Merck, United Airlines, OptionB.org, Annenberg, CNBC Changemakers Locations: Silicon

☆ The top superyachts at Monaco Yacht Show 2023
▼ + stars: | 2023-09-27 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +7 min

“It shows the evolution of yacht design and the use of a yacht,” says Pizzardini. The Monaco Yacht Show’s Sustainability Hub, which showcases what are touted as sustainable solutions and eco-friendly projects, is returning to the show for its second year. RossinaviThere were 5,695 superyachts over 30 meters in operation in mid-August, according to the Monaco Yacht Show Market Report 2023 published by SuperYacht Times. The report goes on to state that new yacht sales were behind by 34% at the start of September, while used yacht sales were down by around 25%. There are lots of expectations for this year.”Monaco Yacht Show 2023 begins on September 27, and ends on September 30.

Persons: Julien Hubert, Marcela Royer, ” Johan Pizzardini, Royer, ”, they’re, Guillaume Plisson, Tecnomar –, “, – it’s, Vitruvius, Francesco Paszkowski, Maurizio Paradisi, Amels, Amare, Aurelia, Lara, Pizzardini, superyachts, it’s Organizations: CNN, Monaco, Tankoa Yachts, CNN Travel, Monaco’s, Amels, Italian, Group Yachts, “, Rossinavi, SuperYacht Times Locations: Monaco, Netherlands, London, Carinthia

☆ Brazil's central bank seeks tighter cryptocurrency regulation, brokerage oversight
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Sept 27 (Reuters) - Brazil's central bank governor Roberto Campos Neto on Wednesday said policymakers are aiming to tighten cryptocurrency regulation and subject brokerages to their supervision. Speaking during a hearing in Congress, Campos Neto emphasized regulators will scrutinize the backing of cryptocurrencies and associated activities, given the significant surge in cryptocurrency imports by Brazilians. Data released by the central bank this week revealed cryptocurrency imports jumped by 44.2% from January to August compared to the same period last year, totaling $7.4 billion. "We understand that a lot is connected to tax evasion or linked to illicit activities," he added. Campos Neto also mentioned the Brazilian central bank's digital currency DREX, initially slated for launch by the end of next year, is expected to play a role in the world of crypto assets in Brazil.

Persons: Roberto Campos Neto, Campos Neto, Marcela Ayres, Chris Reese Organizations: U.S ., Thomson Locations: BRASILIA, stablecoins, Brazil

☆ Brazil's central bank employees escalate protests over career demands
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Sept 25 (Reuters) - Brazil's central bank employees said on Monday they would intensify work stoppages in protest of the government's alleged failure to address career improvement demands, a move that will impact the development of new initiatives at the bank. The National Union of Central Bank Employees (SINAL) said in a statement that this phase of the protest is expected to affect the timeline for launching the Brazilian central bank's digital currency, DREX, initially slated for late 2024. The central bank said it would not comment on the matter. Central bank authorities have been emphasizing the introduction of installment-based payments. The employees are advocating for central bank analysts to be treated as auditors, ensuring they receive compensation tied to productivity, similar to federal revenue auditors.

Persons: Marcela Ayres, Matthew Lewis Organizations: National Union of Central Bank Employees, Thomson Locations: BRASILIA, Central, Brasilia

☆ Czech protesters rally against government's pro-Western policies
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +2 min

[1/4] Demonstrators take part in an anti-government protest demanding the resignation of Czech Prime Minister Petr Fiala, in Prague, Czech Republic, September 16, 2023. And I do not want a puppet government any more," Raichl said, saying the Czech Republic should veto any attempt by Ukraine to join NATO. Under the current government, the Czech Republic has been a close ally of Ukraine, sending tanks, rocket launchers, helicopters, artillery shells and other material to help Ukrainian forces fighting Russia's invasion. Raichl hailed the nationalist policies of Hungarian Prime Minister Viktor Orban as a role model and called for an alliance of Central European countries to counter Brussels. Protester Marcela Hajkova, a mother-of-three, condemned the government's military aid to Ukraine, among other policies.

Persons: Petr Fiala, David W Cerny, Petr, Fiala, Jindrich Raichl, Raichl, Viktor Orban, Robert Fico, Marcela Hajkova, Jan Lopatka, David Cerny, Helen Popper Our Organizations: Czech, REUTERS, Rights, Ukraine, PRO, ., CTK, NATO, Hungarian, Police, Wagner Group, Thomson Locations: Prague, Czech Republic, Russian Czech, Moscow, Prague's Wenceslas, Ukraine, Central, Brussels

☆ Czech Protesters Rally Against Government's Pro-Western Policies
▼ + stars: | 2023-09-16 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

And I do not want a puppet government any more," Raichl said, saying the Czech Republic should veto any attempt by Ukraine to join NATO. Under the current government, the Czech Republic has been a close ally of Ukraine, sending tanks, rocket launchers, helicopters, artillery shells and other material to help Ukrainian forces fighting Russia's invasion. Raichl hailed the nationalist policies of Hungarian Prime Minister Viktor Orban as a role model and called for an alliance of Central European countries to counter Brussels. He also voiced support for Slovakia's former Prime Minister Robert Fico, who has adopted a staunchly anti-Western stance ahead of an election on Sept. 30. Protester Marcela Hajkova, a mother-of-three, condemned the government's military aid to Ukraine, among other policies.

Persons: Petr, Fiala, Jindrich Raichl, Raichl, Viktor Orban, Robert Fico, Marcela Hajkova, Jan Lopatka, David Cerny, Helen Popper Organizations: Ukraine, PRO, ., CTK, NATO, Hungarian, Police, Wagner Group Locations: PRAGUE, Russian Czech, Prague, Moscow, Prague's Wenceslas, Czech Republic, Ukraine, Central, Brussels

REUTERS/Raquel Cunha Acquire Licensing RightsMEXICO CITY, Sept 11 (Reuters) - The Mexican government's plan to run up the biggest budget deficit in decades during the 2024 general election year could put pressure on public finances and eventually threaten its credit rating, analysts said on Monday. Lopez Obrador last week backed former Mexico City Mayor Claudia Sheinbaum as his party's candidate to succeed him. Historic data show the projected budget deficit for 2024 will be the highest since 1988 as a proportion of GDP. The government's higher spending plans should bolster Latin America's second-biggest economy, which has outpaced forecasts this year, brightening the outlook for 2024. He also noted that since Mexico's current account deficit is currently considerably lower than foreign direct investment, there was a pool of untapped demand in the economy that the government could temporarily offset via higher spending.

Persons: Mexico's Finance Ministry Rogelio Ramirez de la O, Marcela Guerra, Raquel Cunha, Andres Manuel Lopez Obrador, Lopez, Patricia Terrazas, Lopez Obrador, Mexico City Mayor Claudia Sheinbaum, Gabriela Siller, Alberto Ramos, Goldman Sachs, Ramos, Raul Feliz, Feliz, Dave Graham, Diego Ore, Noe Torres, Jamie Freed Organizations: Mexico's Finance Ministry, Mexican, REUTERS, Lopez Obrador's, Action Party, PAN, Mexico City Mayor, Banco Base, Bank of, Thomson Locations: Mexico City, Mexico, MEXICO, Bank of Mexico

☆ Brazil eyes tax perks for energy sector, sparking 'green' vs oil debate
▼ + stars: | 2023-08-31 | by ( Marcela Ayres | ) www.reuters.com time to read: +4 min

Last year, more than 500 qualified energy projects received some 9 billion reais ($1.85 billion) in tax exemptions. However, senior officials at the Mines and Energy Ministry are pushing to broaden the incentives to include oil refineries and fuel storage facilities. Energy Ministry officials have argued that targeting tax benefits too narrowly would curtail oil and gas investments, calling in a technical note to expand incentives to oil and natural gas exploration, production and transportation. The Energy Ministry did not immediately respond to a request for comment. Brazilian state-run oil firm Petrobras (PETR4.SA) has forecast oil production for the next four decades, even as it ramps up investments in renewable energy.

Persons: Adriano Machado, Luiz Inacio Lula da Silva's, Lula, Marcela Ayres, Brad Haynes, David Gregorio Our Organizations: National, REUTERS, Petroleo Brasileiro SA Petrobras Follow, Reuters, Finance Ministry, Mines and Energy Ministry, Finance, Energy Ministry, Mines, Investments, Petrobras, PETR4, Thomson Locations: Brasilia, Brazil, Petroleo Brasileiro SA Petrobras Follow BRASILIA, Ukraine, biorefineries, divestments

☆ Privacy, market maturity hurdles facing Brazil's CBDC rollout -cenbank official
▼ + stars: | 2023-08-29 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +2 min

Aug 29 (Reuters) - Maintaining privacy and increasing understanding of blockchain technology are primary issues to solve before Brazil's central bank digital currency (CBDC) is ready for widespread use, the central bank's coordinator of the project said on Tuesday. Named DREX, the digital real is set for a first phase launch aimed at financial institutions in May 2024, though postponed from an initial planned launch in February. "We need to ensure that the privacy is compatible with the law," he told the Reuters Global Markets Forum. Market maturity is another important issue to solve as the central bank wants businesses to develop new use cases for the technology, Araujo said. The Atlantic Council says 130 countries are in some process of exploring a CBDC, with 21 in the pilot stage.

Persons: Fabio Araujo, Araujo, Lisa Mattackal, Divya Chowdhury, Marcela Ayers, Lincoln Organizations: Machine, Banco Central, Reuters Global Markets, Atlantic Council, Bank for International, Thomson Locations: Brazil, Mexico, Singapore, Bangalore, Mumbai

Delegates walk past the logos of the BRICS summit during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. WHY DOES LULA WANT A BRICS CURRENCY? A BRICS currency "increases our payment options and reduces our vulnerabilities," he told the summit's opening plenary session. In July, India's foreign minister said, "there is no idea of a BRICS currency". WHAT ARE THE CHALLENGES OF SETTING UP A BRICS CURRENCY?

Persons: GIANLUIGI, Luiz Inacio Lula da Silva, LULA, doesn't, Vladimir Putin, Xi Jinping, Lesetja Kganyago, you've, Kganyago, Herbert Poenisch, Putin, Rachel Savage, Ethan Wang, Marcela Ayres, Gabriel Stargardter, Naomi Rovnick, Libby George, Marc Jones, John Stonestreet Organizations: REUTERS Acquire, Rights, Mercosur, South, Zhejiang University, Federal Reserve, FX, International Monetary Fund, Bank of International, Thomson Locations: Sandton, Johannesburg, South Africa, Rights JOHANNESBURG, Brazil, Russia, India, China, Russian, videolink, African, Ukraine, Beijing, Brasilia, Rio de Janeiro, London

An aerial view shows trees as the sun rises at the Amazon rainforest in Manaus, Amazonas State, Brazil October 26, 2022. REUTERS/Bruno Kelly/File Photo Acquire Licensing RightsBRASILIA, Aug 17 (Reuters) - Brazil's government is looking to create a regulated carbon market with emissions caps for major companies and protections for indigenous communities involved in carbon-offset activities, a senior official said. After passing Congress, the regulations would require two years of emissions monitoring before the cap takes effect. For example, some developers have approached indigenous communities with unfair contracts offering meager payments, he said. The proposed legislation would establish criteria for such deals, guaranteeing broad consensus and equitable terms for indigenous communities involved.

Persons: Bruno Kelly, Rafael Dubeux, Luiz Inacio Lula da Silva's, Lula, Dubeux, Marcela Ayres, Bernardo Caram, Brad Haynes, Devika Organizations: REUTERS, Rights, Finance, Climate, Thomson Locations: Manaus, Amazonas State, Brazil, Rights BRASILIA

[1/4] Chile's president Gabriel Boric looks on as newly appointed Mining Minister Aurora Williams signs a document during a cabinet reshuffle at the government house, in Santiago, Chile, August 16, 2023. Boric has suffered major legislative defeats in Congress, though his lithium reform largely does not require legislative approval. UPHILL BATTLEBoric has said he will send new bills to reform Chile's tax system, but would not insist on an original reform rejected last March. In his third cabinet reshuffle, Boric also named new ministers of culture, education, national assets and social development. Jackson will be replaced by Chile's National Assets Minister Javiera Toro.

Persons: Gabriel Boric, Aurora Williams, Rights SANTIAGO, Williams, Marcela Hernando, Michelle Bachelet, Boric, Codelco, Giorgio Jackson, Jackson, Minister Javiera Toro, Nicolas Cataldo, Marco Antonio Avila, Fabian Cambero, Natalia Ramos, Sarah Morland, David Alire Garcia, Nick Macfie, David Gregorio Our Organizations: Mining, REUTERS Acquire, Rights, Chile's National, Minister, Thomson Locations: Santiago , Chile, Handout

☆ Ohio Issue 1 results: Voters reject effort that would make it harder to amend state constitution, CNN projects
▼ + stars: | 2023-08-08 | by ( Eric Bradner | ) edition.cnn.com time to read: +5 min

CNN —Ohio voters rejected Tuesday an effort to raise the threshold to amend the state’s constitution ahead of a November referendum on whether to constitutionally guarantee abortion rights there, handing abortion rights advocates a critical victory. The measure was a GOP-led effort targeting an upcoming November referendum in which voters will decide whether to enshrine abortion rights in the state’s constitution. Already, voters in two deep-red states, Kansas and Kentucky, have rejected efforts to limit abortion rights (though abortion is still banned in Kentucky). The Democratic push to enshrine abortion rights in Michigan’s constitution played a key role in the party’s victories there in the 2022 midterm elections. Among his Republican challengers is Ohio Secretary of State Frank LaRose, the state’s elections chief and the highest-profile proponent of Issue 1.

Persons: Ohioans, ”, Dennis Willard, Marcela Azevedo, we’ve, ” Azevedo, Roe, Wade, Joe Biden, ’, “ Ohioans, Mike DeWine, ” DeWine, John Kasich, Bob Taft, Kasich, “ I’ve, Democratic Sen, Sherrod Brown, Frank LaRose, LaRose Organizations: CNN, Ohio, GOP, Ohioans United, Reproductive Rights, Democratic, Ohio Republican, Republicans, Ohio Chamber of Commerce, Buckeye Firearms Association, Twitter, Protect, Senate, Republican Locations: Ohio, Columbus, “ Ohio, Kansas, Kentucky, Ohio Chamber of Commerce , Ohio, Protect Women Ohio

☆ Brazil central bank names its digital currency 'DREX,' scheduled for 2024 launch
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Aug 7 (Reuters) - Brazil's central bank forthcoming digital currency, set to launch next year, will be named DREX, it announced on Monday, aiming to use the currency to boost financial services. The DREX will use distributed ledger technology (DLT) to settle wholesale interbank transactions, while retail access will be based on tokenized bank deposits. Officials from the central bank previously predicted that the adoption of the Brazilian digital currency would commence by the end of 2024, following the completion of its testing phase. During a live discussion organized by the central bank, he emphasized that the development of DREX is primarily aimed at improving access to financial services in the country. "By enabling simple and reliable access to registered values through DLT technology, we reduce costs and democratize access to financial services," Araujo stated.

Persons: Fabio Araujo, Araujo, Marcela Ayres, Aurora Ellis Organizations: Thomson Locations: BRASILIA, Brazil

☆ Magnificent Morocco stage 1-0 Colombia coup to score unlikely knockout berth
▼ + stars: | 2023-08-03 | by ( Joel Dubber | ) www.reuters.com time to read: +2 min

I would even say that it is the prize for the talent of this team," winning coach Reynald Pedros told reporters. Colombia topped the group with six points, bettering runners-up Morocco on goal difference, while Germany and South Korea depart the tournament. Morocco, who were thumped 6-0 by Germany in their opener before beating South Korea 1-0, move on to meet France in Adelaide and Colombia play Jamaica in Melbourne on Tuesday. A frenzied finish saw end-to-end action, but the Arab nation held on to continue their fairytale start to their first World Cup campaign. Reporting by Joel Dubber in Perth; Editing by Nick Mulvenney and Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Colombia's Marcela Restrepo, Luisa Gonzalez PERTH, Anissa Lahmari's, Reynald Pedros, Colombia's Daniela Arias clumsily, Catalina Perez, Lahmari, Daniela Montoya, Lorena Bedoya Durango, Khadija Er, Rmichi, Linda Caicedo's, We've, Nelson Abadia, Joel Dubber, Nick Mulvenney, Pritha Organizations: Soccer Football, FIFA, Debutants, Anissa, South Korea, Germany, Moroccan, France, Thomson Locations: New Zealand, Morocco, Colombia, Perth, Australia, Debutants Morocco, Brisbane, Lang, Germany, South Korea, Adelaide, Jamaica, Melbourne

☆ Brazil central bank kicks off rate cuts more aggressively than expected
▼ + stars: | 2023-08-02 | by ( Peter Frontini | ) www.reuters.com time to read: +3 min

The bank's rate-setting committee Copom cut its Selic policy rate to 13.25%, as just 10 of 46 economists surveyed by Reuters had anticipated. Although Wednesday's policy decision was closely divided, Copom's policy statement signaled a shared outlook to keep up the pace of rate cuts in coming months. Wednesday's rate decision reflected a split among board members, with five votes in favor of the 50-basis-point cut and four votes for a more modest 25-basis-point cut. Finance Minister Fernando Haddad had called for a rate cut of 50 basis points earlier on Wednesday. Brazil's inflation target is 3% for both years.

Persons: we'd, William Jackson, Luiz Inacio Lula da Silva's, Roberto Campos Neto, Lula, Campos Neto, Fernando Haddad, Haddad, Copom, Peter Frontini, Marcela Ayres, Brad Haynes, Diane Craft Organizations: SAO PAULO, Reuters, Capital Economic, Finance, Fitch, Carolina, Thomson Locations: Brazil

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