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Lula's team also worked to secure a jungle conservation alliance announced on Monday between the three largest rainforest nations - Brazil, Indonesia and the Democratic Republic of Congo. That includes pushing for rich nations with high greenhouse gas emissions to pay poor nations for historic damage the climate. Colombia's Environment Minister Susana Muhamad said Lula's election would allow for renewed regional cooperation among Amazon rainforest nations to tackle deforestation, a major contributor to climate change. Lula environmental advisor Izabella Teixeira said she felt the mood about Brazil has shifted at COP27 from previous summits. "When I come to COP and meet people after the election of President Lula, there is hope," she said.

Reuters reported in August that Luiz Inacio Lula da Silva, elected as Brazil's president at the end of October, would seek a partnership with the two other leading rainforest nations to pressure the rich world to finance forest conservation. The rapid destruction of rainforests, which through their dense vegetation serve as carbon sinks, releases planet-warming carbon dioxide, imperiling global climate targets. "South-to-south cooperation - Brazil, Indonesia, DRC - is very natural," the Democratic Republic of Congo's Environment Minister Eve Bazaiba said prior to the signing. In the agreement, the alliance said that countries should be paid for reducing deforestation and maintaining forests as carbon sinks. Talks on the alliance to protect rainforest until now had foundered due to "institutional difficulties," Teixeira said.

☆ Factbox: G20 summit: Which leaders will attend Bali summit?
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +5 min

It will also mark the first face-to-face meeting between U.S. President Joe Biden and Chinese President Xi Jinping since Biden became president. CHINA'S PRESIDENT XI JINPINGXi's visit to Southeast Asia will be only his second foreign trip since the beginning of the COVID-19 pandemic. UKRAINE'S PRESIDENT VOLODYMYR ZELENSKIY (VIRTUAL)Indonesia invited Zelenskiy to attend the summit as an obsever, although the Indonesian foreign ministry has said he will appear at the summit virtually. INDIAN PRIME MINISTER NARENDRA MODIModi is due to symbolically take over the G20 presidency from current chair Indonesian President Joko Widodo in Bali. He also committed to work closely with the Indonesian president to help deliver a successful summit.

Investors have called for Lula to restore firm rules for public spending after major outlays by outgoing President Jair Bolsonaro through the pandemic and election campaign. Instead, Lula is pushing to dismantle old budget rules to ramp up social spending. Senator Simone Tebet, of the centrist Brazilian Democratic Movement party (MDB), said the economy minister should be his first cabinet pick to make clear what his policies are going to be affecting the economy. "An economy minister is needed to explain the president's political thought," she told reporters. The rout made clear that many investors want to see more clarity over ministerial appointments and how Lula aims to stabilize Brazil's public finances.

☆ Brazil cenbank chief says fiscal prudence central to inflation aims
▼ + stars: | 2022-11-11 | by ( Hernan Nessi | Nidhi Verma | ) www.reuters.com time to read: +2 min

BRASILIA, Nov 11 (Reuters) - Brazil's central bank chief Roberto Campos Neto emphatically defended the need for fiscal balance on Friday, following statements by leftist President-elect Luiz Inacio Lula da Silva that soured the markets by downplaying the issue's importance. In Britain, for example, former Prime Minister Liz Truss resigned after markets shunned her plans for major unfunded tax cuts. "I don't know if there was a Liz Truss moment for Brazil (yesterday), but it was a clear demonstration of the markets' sensitivity to the fiscal issue," said Campos Neto. He said the central bank's autonomy would pass "an important test" but believed in the continuity of that status under Lula's future administration. Campos Neto also stressed that the bank's policymakers are open to participating in the transition government.

☆ How a maverick Brazil lawmaker helped Lula beat Bolsonaro's propaganda machine
▼ + stars: | 2022-11-10 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +6 min

RIO DE JANEIRO, Nov 10 (Reuters) - To bring down far-right Brazilian President Jair Bolsonaro, Andre Janones had to fight fire with fire. Janones also raised eyebrows among some in Lula's Workers Party (PT) for his vulgar attacks on Bolsonaro and his allies. One senior Lula aide defended the role of Janones, saying he could tread where the official campaign did not dare. He was the most prominent Lula ally to drop the gloves in a bruising run-off race that took even Bolsonaro's campaign by surprise. Despite his hell-raising, Janones has not lost sight of digital media as a public service.

Lula insisted in a speech that he would maintain fiscal discipline, but his comments added to growing investor skepticism that he would keep a lid on spending. Concerns have been mounting about Brazil's public finances after major outlays through the pandemic and this year's presidential election. But his advisers are already discussing with lawmakers how to open room for more spending outside a constitutional spending cap in order to deliver on campaign promises, including a possible "Transition PEC" amending the constitution. "The signals indicate that the spirit of the Transition PEC is very oriented around new public spending. Still, as tough policy tradeoffs loom, and with Lula's economic team still being defined, markets have grown less patient.

☆ Think the dollar is about to peak? Wall Street pros explain how to trade it
▼ + stars: | 2022-11-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Analysts expect the dollar to decline against 18 out of 38 currencies in the fourth quarter of this year, according to FactSet data. UBS UBS considers selling the dollar against G-10 currencies being a "top investment idea for 2023." According to the investment bank, years of negative interest rates have led to a sizeable un-hedged buildup of dollars worldwide. BCA Research Analysts at BCA Research say from a technical standpoint, the dollar is due for a reversal. Goldman Sachs The Wall Street bank remains bullish on the dollar over the next three months and sees certain G-10 currencies only recovering beyond the six-month horizon.

☆ Brazil's VP Alckmin announces team for budget planning government transition
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

[1/2] Brazilian President-elect Luiz Inacio Lula da Silva gestures near Geraldo Alckmin, Brazilian elected Vice President during a meeting with members of the government transition team in Brasilia, Brazil November 10, 2022. REUTERS/Ueslei MarcelinoBRASILIA, Nov 10 (Reuters) - The transition team of Brazilian President-elect Luiz Inacio Lula da Silva will have a budget planning group aligned with the leftist Workers Party (PT), indicated Vice-President-elect Geraldo Alckmin on Thursday. According to Alckmin, the team will feature former Finance Minister Guido Mantega, lawmaker Enio Verri, former Federal Budget Secretary Esther Dweck and Antonio Correa de Lacerda, president of the Federal Economic Council. Reporting by Lisandra Paraguassu; Writing by Marcela Ayres; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Lula says Bolsonaro push for military audit of voting machines 'deplorable'
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +3 min

[1/2] An electronic voting machine is seen during a simulation voting process of the electoral systems to be used in the Brazilian presidential election in Brasilia, Brazil September 15, 2022. The military audit was requested by Bolsonaro last year to get the military to identify problems with a voting system that he alleged - without proof - was liable to fraud. Bolsonaro, a far-right politician who once served as an army captain, repeatedly claimed without evidence that the electronic voting system was vulnerable. While the armed forces' report on the security of the electronic voting machines, made public on Wednesday, did not find specific issues it said there were vulnerabilities in the computer code that could potentially be exploited. "It is not possible to guarantee that programs executed in the electronic voting machines are free from malicious insertions that alter their functioning," the military said in a statement.

☆ Fact Check-Brazil’s defence ministry has not declared 2022 election fraudulent and congress has not been temporarily suspended
▼ + stars: | 2022-11-09 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Social media users are sharing screenshots of a purported executive order which states that the 2022 Brazilian election was fraudulent and calls for the temporary suspension of the national congress. One Facebook user, whose post has been shared more than 150 times, uploaded a version of the fake ‘decreto’ (decree, also known as an executive order) here, alongside an English-language translation. The only ‘Decree number 9,782’ found by Reuters was published on May 3, 2019 (here), and is unrelated to the content in the fabricated executive order. Brazil’s defence ministry has also not published any updates echoing the sentiment of the false decree (here). Likewise, Reuters has fact-checked Article 142 (in Portuguese: here), which is mentioned in the fake decree, along with multiple false voter fraud claims about the 2022 election (in Portuguese: here and here).

☆ How Joe Biden can help save the planet at COP27
▼ + stars: | 2022-11-07 | by ( Hugo Dixon | Andre Cabette Fabio | ) www.reuters.com time to read: +7 min

States such as Pakistan will also complain that they are already suffering the consequences of climate change despite having done very little to cause it. PULL IT TOGETHERAmerica and other rich countries have a series of policies which could accelerate the just transition across the Global South. Developing and emerging economies, excluding China, need $1 trillion a year in investment, according to a new report from the Rockefeller Foundation. And they need help adapting to the ravages of climate change. If America and other rich countries negotiate a whole-economy transformation with India, they will kill two birds with one stone.

☆ What to watch on Monday at COP27
▼ + stars: | 2022-11-07 | by ( Hugo Dixon | ) www.reuters.com time to read: +2 min

But their messages will likely differ a lot on key points, and their soaring rhetoric will at times clash with performances that have lagged past promises. U.S. President Joe Biden will arrive next week, as will newly elected Brazilian President Luiz Inacio Lula da Silva. Chinese President Xi Jinping is not scheduled to attend COP27, but he will have an envoy at the conference. Other things to watch will include a World Trade Organization report expected Monday about the role of trade policy in climate change, and some expected announcements about forests as climate sinks. Reporting by Valerie Volcovici; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Brazil's Lula hopes to unite rainforest nations, tap funding at COP27
▼ + stars: | 2022-11-06 | by ( Michael Taylor | ) www.reuters.com time to read: +7 min

read moreIn the run-up to the COP27 U.N. climate summit, taking place in Egypt from Nov. 6-18, green groups urged Brazil and other forest nations to team up to increase their bargaining power during talks with potential donors over rainforest protection. Brazil was the climate-change success story of the early 2000s when its government - led then by Lula - slashed deforestation rates in the Amazon, she said. But enforcing forest protection laws in remote areas is a problem for all three, conservationists said, while Bolsonaro's allies form the largest bloc in Brazil's Congress, which could hinder Lula's policy push. Other forest nations - like Colombia - could also take part in talks and join any new alliance at COP27 to create a "more robust and effective" coalition, he added. "Done right, collaboration and exchange of experience between rainforest countries can help in tackling deforestation," Jaeger said.

The pledge was praised widely at last year's COP26 climate summit, particularly as Brazil, Indonesia and Congo all signed on. To fulfill the pledge, the world would need to ensure 10% less area is deforested on average each year from 2021 to 2030. Most countries under the pledge have yet to detail plans for passing stronger forest protections or implementing them. BRAZILThe biggest rainforest country also leads the world in deforestation, as the Amazon falls rapidly to illegal logging, agriculture and land speculation. Deforestation driven by land-clearing for palm oil plantations continued to slow in the first seven months of the year - even as palm oil prices soared.

☆ Brazil election marked by disinformation networks, says Carter Center
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 4 (Reuters) - The Carter Center said on Friday that Brazil's presidential election was marked by a proliferation of sophisticated disinformation attacking the voting system and then questioning the impartiality of the national electoral authority. The U.S.-based non-profit group, a pioneer of international election observation since the 1980s, said that both the winning leftist candidate Luiz Inacio Lula da Silva and far-right President Jair Bolsonaro were targets of disinformation. In the second round of the election, the focus shifted to questioning the impartiality of the TSE, the Carter Center said. In the final weeks of the campaign, the court decided to expand its ability to rapidly remove content from social media platforms, a move the Carter Center said "raised concerns about interference with fundamental rights." Lula, a former president, narrowly won the run-off by 50.9% against 49.1% for Bolsonaro in Brazil's most divisive election in decades.

Demonstrations erupted on Sunday in support of Bolsonaro after he was narrowly defeated by Lula, who previously governed from 2003 to 2010. Carvalho asked Brazil's federal police to open an official probe on 70-year-old Piquet to "clarify the facts". He said that Piquet, as a public figure, should have been aware that his remarks had the power to reach hundreds of thousands of people. One of Lula's closest allies, Senator Humberto Costa, stated earlier this week he was filing a complaint against Piquet with the public prosecutor's office following his comments. His latest remarks come just days ahead of the Brazilian Grand Prix, which is set to begin in Sao Paulo on Nov. 13.

☆ An extraordinary comeback for Brazil’s Lula sees a new ‘pink tide’ take shape in Latin America
▼ + stars: | 2022-11-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Political analysts said Lula's victory marked the most symbolic shift in a political movement that has seen the region's right-wing governments replaced by leftist leaders. A remarkable return to the presidency for Brazil's Luiz Inácio Lula da Silva heralds a new so-called "pink tide" in Latin America, but political analysts say the latest leftist resurgence is very different from the one that swept into power in the 1990s. It marked an extraordinary political comeback for the 77-year-old former metalworker, who was jailed in 2017 in a sweeping graft investigation following a two-term 2003-2010 presidency. Speaking at his campaign headquarters after securing victory, Lula described his return to office as a "resurrection." Political analysts said Lula's victory marked the most symbolic shift in a political movement that has seen the region's right-wing governments replaced by leftist leaders.

☆ Could Mexico be on its way to electing its first woman president?
▼ + stars: | 2022-11-03 | by ( ) www.nbcnews.com time to read: +9 min

MEXICO CITY — The most historic legacy of President Andres Manuel Lopez Obrador, a left-leaning resource nationalist who casts his administration as a turning point in the annals of Mexico, may be to pave the way for the country’s first woman leader. President Lopez Obrador’s popularity stems from his personal, austere, simple way of governing,” Sheinbaum said. Many of Lopez Obrador’s biggest public works look increasingly like they will not be completed on his watch. One cloud hanging over MORENA domination is Mexico City, a bastion of the Mexican left which unites the president, Sheinbaum and Ebrard, who succeeded Lopez Obrador as mayor. In May 2021, a Mexico City metro overpass collapsed, killing or injuring dozens of people.

☆ Brazil’s Bolsonaro urges protesters to lift road blockades after election defeat
▼ + stars: | 2022-11-03 | by ( ) www.nbcnews.com time to read: 1 min

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. Protests erupted on Sunday after the far-right incumbent's narrow loss to leftist Luiz Inacio Lula da Silva in an Oct. 30 runoff presidential election. Some of the protesters have called for military intervention to keep Bolsonaro in power. In a video posted on social media, Bolsonaro said he understood people’s frustration at the result of the election. But we have to keep our heads straight,” he said on a tweeted message.

☆ Brazil's Petrobras to pay out $8.5 billion dividend amid squabble
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +3 min

SAO PAULO, Nov 3 (Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) will distribute dividends of around 43.68 billion reais ($8.5 billion) on its third quarter results, the firm said on Thursday, amid controversy over its massive payouts. Exxon has said it will pay dividends of $3.7 billion, while the other four firms will pay out a figure between $1.14 billion and $2.7 billion, according to data compiled by Reuters. Nearly all global oil majors have reported blockbuster profits this quarter, helped by surging oil prices. Workers' Party head Gleisi Hoffmann wrote on Twitter before the latest dividend was revealed that the payout policy "deprives the company of its investment capacity and only enriches shareholders." They say that while the company paid roughly 130 billion reais in dividends in the first six months of the year, investments made during the same period total only 17 billion reais.

☆ Mexico succession puts scientist on path to be first woman president
▼ + stars: | 2022-11-03 | by ( Dave Graham | ) www.reuters.com time to read: +10 min

[1/6] Mexico City Mayor Claudia Sheinbaum greets supporters after attending a supervision of the Canal Nacional rehabilitation project, in the Iztapalapa neighborhood in Mexico City, Mexico July 21, 2022. Still, they are quick to forecast both would be more encouraging to investors than Lopez Obrador. President Lopez Obrador's popularity stems from his personal, austere, simple way of governing," Sheinbaum said. Many of Lopez Obrador's biggest public works look increasingly like they will not be completed on his watch. In May 2021, a Mexico City metro overpass collapsed, killing or injuring dozens of people.

☆ Brazil's Petrobras beats profit expectations as uncertainty looms
▼ + stars: | 2022-11-03 | by ( Peter Frontini | ) www.reuters.com time to read: +2 min

The average price of Brent crude over July to September was $100.85, Petrobras said, significantly higher than the $73.47 it recorded a year earlier. Earlier on Thursday, Petrobras had said it would distribute some 43.68 billion reais ($8.5 billion) in dividends. Petrobras' revenue jumped 40% to 170.08 billion reais. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 50.5% to 91.42 billion reais, also beating analysts' estimate of 88 billion reais. "These results demonstrate, once again, the high level of performance achieved by Petrobras," its chief executive Caio Paes de Andrade said in a statement.

LONDON/TOKYO, Nov 2 (Reuters) - The dollar slipped on Wednesday as investors awaited a Federal Reserve policy decision amid speculation it might indicate a slowdown in future rate hikes. But for the December meeting, the futures market is split on the odds of a 75- or 50-bps increase. The real was 0.1% higher exchanging hands for 5.14 per dollar. YEN JUMPSThe yen , down a whopping 28% against the dollar this year, outperformed on Wednesday, with traders on alert for possible intervention around the Fed meeting. The BOJ also released minutes of its latest policy meeting, with a member saying the bank must be vigilant for an inflation overshoot, possibly caused by yen weakness.

LONDON/TOKYO, Nov 2 (Reuters) - The U.S. dollar slipped on Wednesday as investors awaited for the U.S. Federal Reserve's policy decision amid speculation it might indicate a slowdown in future rate hikes. But for the December meeting, the futures market is split on the odds of a 75- or 50-bps increase. It will be a difficult balance to strike for Powell," said Daria Parkhomenko, FX strategist at RBC Capital Markets. Against the weakening dollar, the euro and sterling edged up to $0.9889 and $1.1494, respectively. YEN JUMPSThe yen , down a whopping 28% against the U.S. dollar this year, outperformed, with traders on alert for possible intervention around the Fed meeting.

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