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☆ Brazil may buy more Swedish Gripen fighter jets, says minister
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, April 11 (Reuters) - Brazil is analyzing the option of expanding an order for Swedish manufacturer Saab's (SAABb.ST) Gripen fighter jets, though the number of additional aircraft which could be bought has yet to be determined, Defense Minister Jose Mucio told Reuters Tuesday. In 2014, Brazil signed a deal to purchase 36 Gripen fighter jets for its Air Force with the goal of modernizing its fleet. The first aircraft have already been delivered to Brazil and the remainder are expected to be delivered by 2027. The negotiations would involve forgoing some equipment and ammunition in exchange for "credit" toward the purchase of the four additional jets. Demand is great enough that Brazil could place a second order for around 30 more jets, the source said.

☆ At least four children killed in pre-school axe attack in southern Brazil
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view shows forensic technicians, ambulances and policemen outside a pre-school after a 25-year-old man attacked children, killing several and injuring others, according to local police and hospital, in Blumenau, in the southern Brazilian state of Santa Catarina, Brazil April 5, 2023. REUTERS/Denner OvidioApril 5 (Reuters) - At least four children were killed and four other injured when a 25-year-old man armed with a small axe attacked a pre-school in the southern Brazilian state of Santa Catarina on Wednesday, local police and a hospital said. Police said the man responsible for the attack in the city of Blumenau has been arrested. The attack, dubbed by President Luiz Inacio Lula da Silva a "monstrosity," happened nearly a week after a 13-year-old student stabbed a teacher to death and wounded five others in a Sao Paulo school. Reporting by Fernando Cardoso in Sao Paulo, Rodrigo Viga Gaier in Rio de Janeiro; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Americanas faces more debt, asset sales as it restructures
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

Sources with knowledge of the situation, however, told Reuters that the company shoulders a higher debt load than previously disclosed. Americanas presented the first draft of a legal recovery plan to a court in Rio de Janeiro state, O Globo newspaper reported. In January, the company entered bankruptcy protection after disclosing accounting "inconsistencies" worth 20 billion reais ($3.78 billion). The company said in early March it had offered a 10 billion reais capital injection to its creditors that will come from top shareholders. Sources close to the matter said the company holds debts of more than 50 billion reais, which exceeds the 42 billion reais previously acknowledged during the bankruptcy proceedings.

☆ Report on Americanas' woes to be presented to Brazil court next week
▼ + stars: | 2023-03-17 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, March 17 (Reuters) - A report detailing Brazilian retailer Americanas SA's (AMER3.SA) bankruptcy is being prepared by the trustee's team of over 100 experts and is expected to be presented to a Rio de Janeiro court next Monday, said a source close to the matter on Friday. "The final report will be closed and read on Monday before being presented to the court," said the source. Americanas, backed by the billionaire trio that founded investment firm 3G Capital, has accumulated debt of more than 40 billion reais. After the document is submitted, the court will set a deadline for Americanas to present its judicial recovery plan. On Thursday, Americanas' former chief executive testified at Brazil's securities watchdog, according to a source.

☆ Brazil's Bolsonaro will be subpoenaed in jewelry scandal, says minister
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

[1/3] The jewelry with diamonds gifted to Bolsonaro and former first lady Michelle Bolsonaro by the Saudi government which was seized by customs officials, is seen at Sao Paulo-Guarulhos International Airport, in Guarulhos, Brazil, March 14, 2023. "We have enquiries in progress, hearings taking place, and at some point, the former president will be subpoenaed," Dino told reporters after an event in Rio de Janeiro. Luxury jewelry gifted to the then-president and his wife Michelle Bolsonaro by the Saudi government was seized by customs officials in October 2021 after it was found in the backpack of a government aide. Several officials from the Bolsonaro administration unsuccessfully tried to recover the jewelry from customs, according to local media. According to the minister, police will conclude the investigation into whether or not Bolsonaro attends a hearing.

☆ Son retracts tweet announcing Bolsonaro's return to Brazil
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: 1 min

RIO DE JANEIRO, March 7 (Reuters) - Senator Flavio Bolsonaro, son of former Brazilian President Jair Bolsonaro, on Tuesday wrote on Twitter his father would return to Brazil next week but deleted the post a few minutes later, saying the date was not confirmed. "I'm sorry for the previous post, I might be missing him a lot," Flavio said, adding the March 15 date he had previously announced for the former president's return was "likely but still unconfirmed". Bolsonaro has been in self-imposed exile in the United States since late December, having flown to Florida 48 hours before his opponent and successor Luiz Inacio Lula da Silva was sworn in. Reporting by Rodrigo Viga Gaier; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Sao Paulo govt to hire World Bank to study privatizing water utility
▼ + stars: | 2023-03-03 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, March 3 (Reuters) - Sao Paulo's state government will hire the World Bank's International Finance Corporation (IFC) in the next few days for studies on the possible privatization of state water utility Sabesp (SBSP3.SA), Governor Tarcisio de Freitas said on Friday. "The privatization of Sabesp is a very complex matter," Tarcisio told Reuters after attending an event in Rio de Janeiro. Freitas said utility would only be privatized "if we reach the conclusion that we are going to increase efficiency, have upsides, reduce tariffs." "I think that all these objectives are possible and I understand that studies will show this," he said. The board of directors of Sao Paulo's state privatization program had earlier this week authorized the body to commission studies on Sabesp's possible privatization.

☆ Petrobras, Brazil govt mull fuel price cut to offset tax resumption
▼ + stars: | 2023-02-28 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +2 min

"It is one of the possibilities under discussion," the ministry said in a statement via its press office. "There is room for compensation within the import parity policy," one of the sources said, referring to Petrobras' official policy of tracking international rates such as global fuel prices and foreign exchange. A meeting attended by a government official and Petrobras executives was held at the company's headquarters in Rio de Janeiro on Monday. The price cut is seen as a temporary solution for the very short term, one of the sources said. The company, formally known as Petroleo Brasileiro SA, reiterated it was committed to "competitive prices in balance with market".

[1/2] Iranian military ship Iris Makran navigates on the coast of Rio de Janeiro as a Brazilian flag flutters in Copacabana Beach, Brazil, February 27, 2023. REUTERS/Ricardo MoraesRIO DE JANEIRO, Feb 27 (Reuters) - Two Iranian warships docked in Rio de Janeiro on Sunday after Brazilian President Luiz Inacio Lula da Silva's government granted permission despite pressure from the United States to bar them. "In the past, those ships facilitated illegal trade and terrorist activities, and have also been sanctioned by the United States. Brazil is a sovereign nation, but we firmly believe those ships should not dock anywhere," she said. He traveled to Tehran to meet then-President Mahmoud Ahmadinejad in 2010 as he sought to broker a nuclear deal between Iran and the United States.

That window has been scrapped, with the ships now authorized to dock between Feb. 26 and March 3, the Brazil's foreign ministry said. A Brazilian military source confirmed that the federal government, via the foreign ministry, had shifted the dates and blocked the Iranian ships from docking. "The Iranian ships could not come during this period." A spokesperson for Brazil's foreign ministry said it was a "wrong assumption" to say Washington had pressured Brazil. Lula recoiled at U.S. sanctions on Iran and has declined to choose sides in the Russia-Ukraine war, saying Brazil is neutral and wants dialogue to reach peace.

☆ Lula says 'no explanation' for Brazil's current interest rate levels
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, Feb 6 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Monday there was "no explanation" for the country's high interest rates, with the benchmark rate at a six-year high, adding that development bank BNDES could help bring down lending costs. Lula, who last week criticised the central bank's formal autonomy and suggested a review of its status, said Brazil's problem was a "culture of high rates" rather than the newfound independence of the central bank. Lula called on business leaders to speak out against current interest rate levels, while dubbing the monetary policy committee's explanation for keeping rates at the current 13.75%, in place since August, "shameful". "There is no justification for the interest rate levels. The committee, known as Copom, said last week it was considering holding interest rates high for longer than markets expect due to fiscal risks under Lula.

☆ 'Sabotage' likely culprit for Brazil's Eletrobras towers collapse, sources say
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, Jan 13 (Reuters) - The collapse of two transmission towers operated by Brazilian power company Eletrobras (ELET6.SA) happened after someone cut the cables used to secure the towers, three sources with knowledge of the matter said on Friday. On one of the towers, "cut wires were found, in a sign of vandalism," said a second source. A third tower operated by power transmission company Evoltz had also collapsed on Monday. Another tower operated by transmission firm Taesa (TAEE11.SA) suffered a vandalism attempt on Thursday. However, the tower was not knocked down and there was no interruption in power transmission, Taesa said.

☆ Minority shareholders denounce Brazil's Americanas for 'multi-billion fraud'
▼ + stars: | 2023-01-13 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +3 min

RIO DE JANEIRO/SAO PAULO, Jan 13 (Reuters) - A group representing minority shareholders on Friday filed a complaint with Brazil's securities regulator against Americanas SA (AMER3.SA) after the retailer uncovered "accounting inconsistencies" totaling 20 billion reais ($3.89 billion). The Abradin association said it was denouncing Americanas for what it called a "multi-billion fraud," while also asking regulator CVM to investigate the retailer's auditor, PwC. Shares in Americanas plummeted more than 75% on Thursday, wiping out 8.4 billion reais in market value, after the company's chief executive Sergio Rial resigned, citing the discovery of inconsistencies. It's not easy to hide 20 billion reais," said Eric Barreto, a professor at Sao Paulo's Insper. Americanas has long been controlled by three Brazilian billionaires who founded 3G Capital.

☆ Brazil's Bolsonaro released from hospital in Florida, source says
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: 1 min

Jan 10 (Reuters) - Brazil's former President Jair Bolsonaro on Tuesday was released from a hospital near Orlando, Florida, where he had been admitted on Monday, a source close to the Bolsonaro family said. Earlier, O Globo columnist Lauro Jardim had reported on the news. Bolsonaro, who flew to Florida 48 hours before his term ended, was admitted to the hospital a day after hundreds of his supporters rampaged through key government buildings in the capital Brasilia. Bolsonaro was treated for intestinal pains related to a stabbing he suffered during the 2018 election campaign. Reporting by Rodrigo Viga Gaier and Peter Frontini Editing by Chris Reese and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

SAO PAULO, Jan 10 (Reuters) - Brazilian power company Eletrobras (ELET6.SA) is investigating whether the collapse of two transmission towers is related to anti-government riots on Sunday after finding signs of sabotage, according to two people familiar with the probe. The towers - one of which fell on Sunday and the other in the early hours of Monday - were operated by Eletrobras subsidiaries Furnas and Eletronorte. Eletrobras, the mines and energy ministry and regulatory agency Aneel have set up a crisis committee to monitor potential threats to Brazil's power grid, according to a third source. A third tower operated by power transmission company Evoltz also collapsed, according to a report by Brazil's National Electric System Operator (ONS) on Tuesday. Eletrobras, Furnas and Evoltz did not immediately respond to requests for comment.

☆ Brazil's Bolsonaro hospitalized in U.S. with intestinal discomfort
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, Jan 9 (Reuters) - Brazil's former President Jair Bolsonaro was admitted to a hospital in Florida with intestinal discomfort due to a stabbing he suffered during the 2018 election campaign, his wife Michelle Bolsonaro said on Monday on Instagram. In Brazil, Dr. Antonio Luiz Macedo, who has been treating Bolsonaro since the stabbing, said he has an intestinal subocclusion, or blockage, but was unlikely to need surgery. Brazilian newspaper O Globo had reported earlier in the day that Bolsonaro had been suffering from abdominal pain. Bolsonaro has undergone six surgeries since his stabbing, four of them directly linked to the attack. On Sunday, Bolsonaro supporters in Brazil's capital launched the worst attack on state institutions since the country's return to democracy in the 1980s.

But Jean Paul Prates, nominated on Friday to be chief executive, has been advocating for higher investments in renewables. "Petrobras is a company for the long run and cannot just keep exploring sub-salt oil and paying dividends," Prates said in a press conference this month. Prates, a senator for the past four years, will become the first politician to hold a high-ranking office at Petrobras in several years. Petrobras, Prates and the transition team's press officer did not immediately respond to requests for comment. Prates has defended higher Petrobras investments in the refining sector as a way to secure Brazil's fuel supply.

Companies Petroleo Brasileiro SA Petrobras FollowRIO DE JANEIRO, Dec 23 (Reuters) - Caio Paes de Andrade, the chief executive of Brazil's state-run oil firm Petrobras (PETR4.SA), has decided to resign before his term ends in April, but has not yet set a date for his departure, six sources told Reuters. Andrade's early exit would provide a pathway for leftist President-elect Luiz Inacio Lula da Silva to quickly install his own choice to lead the company. Lula, a leftist former president, takes office on Jan. 1. Prates has previously said the incoming government will not have an interventionist stance on Petrobras. Petrobras had previously said Andrade had accepted an invitation from future Sao Paulo state Governor Tarcisio Freitas to join his team.

RIO DE JANEIRO, Dec 22 (Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva will appoint Senator Jean Paul Prates of his Workers Party to be the next chief executive of state-run oil company Petrobras (PETR4.SA), a member of his transition team said on Thursday. Deyvid Bacelar, head of oil workers' union FUP, said on social media that Lula had picked Prates based on the labor group's recommendations. He added that Senator Alexandre Silveira would be chosen to be mines and energy minister. The transition team, Prates and Petrobras did not immediately respond to requests for comment. Preferred shares of the oil company rose more than 2% after Bacelar's post, outperforming Brazil's benchmark stock index Bovespa <.BVSP>, before ceding half the gain.

☆ Gun-loving Bolsonaristas challenge Lula's pledge to disarm Brazil
▼ + stars: | 2022-12-13 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +10 min

The president-elect has pledged to "disarm" an increasingly gun-toting country where personal firearms have become a symbol of Bolsonaro's conservative base. Reuters interviewed eight other people working on, or advising, Lula's transition team on bolstering gun controls once he takes office on Jan. 1. The priority will be to reimpose civilian prohibitions on certain high-caliber weapons, including the rifle used by Jefferson, the sources said. The political context is a sharp departure from Lula's 2003-2010 presidency, when he passed sweeping gun laws to combat violent crime. Last week, they charged him with four counts of attempted murder, resisting arrest, and weapons charges.

[1/2] FILE PHOTO:Brazilian President-elect Luiz Inacio Lula da Silva cries while speaking during a meeting with members of the government transition team in Brasilia, Brazil November 10, 2022. REUTERS/Ueslei Marcelino REUTERSBRASILIA, Nov 15 (Reuters) - A dust-up among aides to Brazil's president-elect over the country's choice to lead the Inter-American Development Bank (IDB) is fueling concern that hardcore leftists on his team are eclipsing the influence of more market-friendly moderates. As his transition team begins its work ahead of the Jan. 1 inauguration, investors are wondering which group will be more influential in steering the two-term former president's economic policy. His appointment as coordinator of Lula's transition team was seen as good news for those hoping for market-friendly policies. SEEKING TO PLEASEInvestor concern about Lula's economic plans has been growing since last week.

[1/4] Supporters of Brazil's President Jair Bolsonaro hold a protest against President-elect Luiz Inacio Lula da Silva who won a third term following the presidential election run-off, at Urban Military Sector in Brasilia, Brazil, November 2, 2022. Bolsonaro has not officially acknowledged the result, though his cabinet has initiated a transition, with Lula set to take over the presidency on Jan. 1. Bolsonaro's supporters in Sao Paulo and Rio de Janeiro led festive rallies on Wednesday, carrying Brazil's yellow-and-green flag draped over their shoulders, blowing horns and chanting anti-Lula slogans. Lula, by contrast, was jailed in the 1970s for protesting against the military government. Reporting by Brian Ellsworth in Sao Paulo and Rodrigo Viga Gaier in Rio de Janeiro, additional reporting by Lisandra Paraguassu in Sao Paulo and Anthony Boadle in Brasilia, Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Bolsonaro urges protesters to lift road blockades
▼ + stars: | 2022-11-02 | by ( Ana Mano | ) www.reuters.com time to read: +3 min

SAO PAULO, Nov 2 (Reuters) - Brazilian President Jair Bolsonaro for the first time on Wednesday asked protesters blocking roads nationwide to lift blockades as demonstrations are restricting people's right to come and go and bringing losses to the economy. In a video posted on social media, Bolsonaro said he understood people's frustration at the result of the election. The president said blocking roads make the ongoing protests illegitimate. Bolsonaro added the Federal Highway Police (PRF) had mobilized to help dispel protesters and clear roads. In remarks on Tuesday, the Brazilian president said the protests resulted from "indignation and a sense of injustice" over the vote.

Financial markets have largely priced in a Lula victory, but the uncertainty about a contested result has some on edge. "There is apprehension about whether the election result will be respected," said J.P. Morgan equity strategist Emy Shayo. The TSE rejected the complaint in a Wednesday ruling due to lack of evidence and asked Brazil's top prosecutor to investigate the Bolsonaro campaign for possible intent to disrupt the election. Another son, Congressman Eduardo Bolsonaro, told journalists that to address the issue properly might require postponing the election. Senior Bolsonaro campaign officials have said publicly that a postponement of the election is not up for discussion.

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