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SAO PAULO, July 18 (Reuters) - An alternative investment vehicle controlled by French insurer AXA (AXAF.PA) said on Tuesday it will inject $49 million into reforestation projects in Brazil led by local startup Mombak. Mombak, which is also backed by Bain Capital, will lead projects to reforest over 10,000 hectares of degraded pastureland, generating up to 6 million carbon credits. "We are building the largest carbon removal projects in the world," Mombak co-founder Peter Fernandez said in an interview. "The single largest opportunity that humanity has to do reforestation is in Brazil." "We would like to significantly scale up our deployment in Brazil and other Amazon basin countries."

Persons: Mombak, Peter Fernandez, Fernandez, Adam Gibbon, Gabriel Araujo, Brad Haynes, Josie Kao Organizations: SAO PAULO, AXA, AXA IM Alts, Bain Capital, Greenpeace, Reuters, Thomson Locations: Brazil

Instead, Gomez Cabrera has to juggle a part-time nannying job beside strenuous practices. Now, Santino runs girls’ soccer program La Nuestra in the Villa 31, where Gomez Cabrera has played for nearly a decade. Becoming a soccer star is a common dream for boys and girls alike where Pereira grew up. "How can we realize our dream to become top players if they don't give us a chance?" Oliveros works part-time as a girls' soccer instructor.

Persons: Carla Carniel, Camila Lujan Gomez Cabrera, Gomez Cabrera, Maradona, Pele, Monica Santino, Santino, Christiane Rozeira, Gabrielle Cardoso, Paola Genes, it's, Genes, Nicole Pereira, Pereira, Laurina Oliveros, Oliveros, Lucila Sigal, Anna, Catherine Brigida, Daniela Desantis, Lucinda Elliott, Leandro Benassatto, Sebastian Rocandio, Christian Radnedge Organizations: REUTERS, Buenos Aires's Villa, Villa, Belgrano, SOUTH, Olimpia, National Cancer, Rocinha Soccer, Argentina women's, Argentina's Boca Juniors, Thomson Locations: Sao Paulo, Brazil, Carla Carniel BUENOS AIRES, Buenos, South America's, Buenos Aires, Nuestra, South America, Paraguay, Rio de Janeiro, United States, Argentina, Uruguay

☆ Brazil meat lobby says UK has used rules for chicken exporting plants
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, July 17 (Reuters) - Brazilian meat lobby ABPA, which represents pork and poultry processors, said on Monday Britain had approved a "pre-listing" model for chicken exporting plants based in the South American country. Under the system, all companies that wish to ship chicken to the UK market must be approved by the Brazilian Agriculture Ministry, no longer requiring British authorities to clear individual suppliers. In April, Britain raised chicken import quotas from Brazil to 96,500 metric tons per year, up 16,600 metric tons from the previous threshold, generating a potential annual increase of around $60 million in revenue from exports to the UK. It was the first British audit mission abroad after Brexit, the Brazilian government said. Reporting by Ana Mano and Peter Frontini; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: ABPA, Ana Mano, Peter Frontini, Alex Richardson Organizations: SAO PAULO, Britain, Brazilian Agriculture Ministry, Thomson Locations: Britain, Brazil

☆ Motor-biking dog and owner cruise Brazil's streets to help hungry pups
▼ + stars: | 2023-07-17 | by ( Leonardo Benassatto | ) www.reuters.com time to read: +2 min

REUTERS/Leonardo BenassattoSAO PAULO, July 17 (Reuters) - Miguel Pereira de Souza and his dog Ruby zoom through Brazil's sprawling metropolis Sao Paulo on a motor-bike on a mission: hand out free dog food to less fortunate pooches. "I said from today every time I see a dog going hungry, I will donate a portion of food," Souza said, wiping away tears. Once Souza posted videos and pictures on social media of his food deliveries and the street dogs, donations started to flood in. "I had more than 700 kilograms (1,543 lb) of dog food in my living room," said Souza, who has Ruby's name tattooed on his forearm. "This help from Miguel - donating food, water, time and encouraging others to donate - I think is very cool," she said.

Persons: Miguel Pereira, Leonardo Benassatto, Miguel Pereira de Souza, Souza, Ruby, Raja Vidya, Steven Grattan, Brendan O'Boyle, Michael Perry Organizations: REUTERS, Leonardo Benassatto SAO PAULO, American, Thomson Locations: Sao Paulo, Brazil, Paulo, Miguel

☆ Brazil's Light unveils proposal to restructure $2.3 billion of debt -filing
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, July 15 (Reuters) - Rio de Janeiro-based electricity distributor Light SA (LIGT3.SA) has submitted a plan to restructure about 11 billion reais ($2.30 billion) of debt, according to a securities filing late on Friday. Light said it will seek to raise at least 1 billion reais ($209 million) of new funds as part of its reorganization plan. There is also a provision to convert unsecured debt into equity in the proposed restructuring. Another payment option involves the issuance of new debt securities to unsecured creditors, to be placed with a 20% discount on face value. Light would repay the principal on such new debt securities in 15 years, including a five-year waiting period.

Persons: Ana Mano, Letícia, Matthew Lewis Organizations: SAO PAULO, Light SA, Sao Paulo, Thomson Locations: Rio de Janeiro, Sao

☆ 27,000-year-old pendants crafted from the skin of extinct giant sloths could help rewrite the human history of the Americas
▼ + stars: | 2023-07-15 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Researchers found what appeared to be pendants made from the now-extinct giant sloth. It suggests humans lived in South America thousands of years earlier than previously thought. "It's very likely that multiple waves of people came to Americas," she said, according to The AP. Giant ground sloths could reach 13 feet long, weighed more than a thousand pounds and were equivalent in size to an Indian elephant. It walked on all fours and was one of the largest creatures in South America, per the report.

Persons: Mirian Liza Alves Forancelli Pacheco, Jeffrey Greenberg, Briana, paleoanthropologist Organizations: Service, Royal Society B, Royal, North America, Federal University of Sao, Associated Press, Universal, AP, Smithsonian Institution's National, of Locations: South America, Wall, Silicon, Siberia, Alaska, South, North, Federal University of Sao Carlos, Brazil, Florida, Americas, Washington

☆ Brazilian union sues JBS over alleged exploitation of chicken workers
▼ + stars: | 2023-07-14 | by ( Ana Mano | ) www.reuters.com time to read: +2 min

Their shifts lasted up to 14 hours including the journey to and from the hen houses, said union leader Sergio Bolzan in a telephone interview. JBS is a primary defendant and four outsourcing companies are co-defendants in the suit, documents show. The suit claims workers did not get enough rest time, were not fully paid upon dismissal and did not get extra pay for performing hazardous work. Bolzan said evidence of alleged exploitation surfaced in April when he paid a surprise visit to where some catchers were being housed to document the conditions. Bolzan shared his concerns with labor prosecutors, who confirmed preliminary investigations into the matter, including whether catchers were employed "off the books."

Persons: Sergio Bolzan, JBS, Bolzan, Ana Mano, Brad Haynes, Mark Potter Organizations: SAO PAULO, JBS SA, Thomson Locations: Sidrolandia, Mato Grosso, Sul

☆ The 'Barbie' movie's latest marketing collab is a hot pink Burger King combo meal
▼ + stars: | 2023-07-13 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

The BK Barbie Combo features a cheeseburger topped with bacon bits and dressed with a bright pink sauce that Burger King says has a "smoky" flavor. Once the straw is put into the dessert, Burger King tops it off with a pink frosted donut. It's not the first time that Burger King has offered a movie-themed meal. But unlike the Spider-Man burger, it doesn't appear that the BK Barbie Combo will be making its way stateside. A representative for Burger King did not immediately respond to CNBC Make It's request for comment.

Persons: Barbie, Burger King, Ken, verbiage, Burger, It's, Sony's, São Paulo, Warren Buffett Organizations: BK, Burger, CNBC Locations: Burger King Brazil

DeSantis is scheduled to visit Iowa on Friday, his third trip to the state since declaring his presidential bid. His wife, Casey DeSantis, last week traveled to Iowa to launch a national "Mamas for DeSantis" campaign focused on parental rights, hoping to win over the swing vote of suburban Republican women. DeSantis' supporters are also emphasizing what they see as the similarities between DeSantis and Kim Reynolds, Iowa's popular Republican governor, said one person close to the campaign. "The campaign has the most sophisticated and experienced team ever in Iowa, and is poised to crush DeSantis," Trump spokesperson Steven Cheung said. A dearth of reliable polling in Iowa makes it difficult to assess the real strength of both DeSantis and Trump in the state.

Persons: Ron DeSantis, Donald Trump's, DeSantis, Trump, Chris Stirewalt, Stirewalt, Ted Cruz, Rick Santorum, Mike Huckabee, Steve Cortes, Donald Trump, They've, Ryan Frederick, Mike Pence, Tim Scott, Casey DeSantis, Kim Reynolds, Iowa's, Reynolds, Steven Cheung, Ann Selzer, Selzer, James Oliphant, Gram Slattery, Alexandra Ulmer, Ross Colvin, Alistair Bell Organizations: Republican, Trump, American Enterprise Institute, Arkansas, Fox Business, Republican Party, Iowa, Thomson Locations: Florida, Iowa, New Hampshire, Nevada, South Carolina, U.S, Trump, Adair County

Medical school curriculums, for example, include erroneous claims that Black women’s nerve endings are “less sensitive” and require less anesthesia, and that Black women’s blood coagulates faster than that of white women, leading to delayed treatment for dangerous hemorrhages, according to the report. There are more than 200 million people of African descent in the Americas — one in four people in Latin America and the Caribbean, and one in seven in the United States and Canada. Among countries that provide maternal death rates by race, the United States has the lowest death rate overall, but the widest racial disparities. Black women in the United States are three times more likely than white women to die during or soon after childbirth. Those problems persist across income and education levels, as Black women with college degrees are still 1.6 times as likely to die in childbirth than white women who have not finished high school.

Persons: it’s, Kanem, “ Organizations: São Paulo Locations: São, New York, America, North America, Caribbean, Americas, Latin America, United States, Canada

☆ Ancient pendants made from giant sloth bones suggest humans were in Americas earlier than thought
▼ + stars: | 2023-07-12 | by ( Katie Hunt | ) edition.cnn.com time to read: +5 min

While G. phoenesis was thought to have been a relatively small species of giant sloth, some ancient sloth species were so big that their fossilized burrows are now caves in southern Brazil that humans can walk through. One of the three pendants made from giant sloth bone. However, Pansani said the team dated other material — sediment, charcoal and other giant sloth bones — from the same layer as where the artifacts were recovered. Many experts are skeptical that humans occupied the Americas any earlier than 16,000 years ago, the study noted. For the new study, Pacheco said the team hadn’t considered the possibility of trying to extract genetic material from the sloth-bone pendants.

Persons: —, Thais Pansani, Federal University of São Carlos, phoenesis, Thaís Pansani, Pierre Gueriau, Mírian Pacheco, Pacheco, ” Pansani, Pansani, “, ” Pacheco, hadn’t, ” Organizations: CNN, Federal University of São, Paleobiology, Royal Society Locations: Brazil, Santa, Americas, South America, New Mexico, Russia

SAO PAULO, July 6 (Reuters) - Deforestation in Brazil's Amazon fell 34% in the first half of 2023, preliminary government data showed on Thursday, hitting its lowest level in four years as President Luiz Inacio Lula da Silva institutes tougher environmental policies. But that's an area more than three times the size of New York City, underscoring the challenge Lula faces to eliminate deforestation entirely. "It's very positive, but we continue to have very high levels of deforestation," said Daniel Silva, an analyst at nonprofit WWF-Brasil. An aerial view shows a deforested area during an operation to combat deforestation near Uruara, Para State, Brazil January 21, 2023. In June alone, Inpe satellite data showed deforestation totaled 663 sq km, down 41% from the same month a year ago.

Persons: Luiz Inacio Lula da Silva, Inpe, Lula, Daniel Silva, Jair Bolsonaro, Ueslei Marcelino, Marina Silva, Silva, Joao Paulo Capobianco, Carolina Pulice, Jake Spring, Gabriel Araujo, Sandra Maler Organizations: SAO PAULO, WWF, Brasil, REUTERS, Environment Ministry, Thomson Locations: New York City, Uruara, Para State, Brazil

BRASILIA, July 7 (Reuters) - Brazil's lower house of Congress approved on Friday the main text of a tax reform that will restructure the country's complex consumption taxes, a move President Luiz Inacio Lula da Silva touted as a "great victory". The bill will now be sent to the Senate, where it will also be voted on in two rounds. "Brazil will have its first tax reform of the democratic period ... We are working towards a better future for everyone." Markets reacted positively to the lower house approval, with Brazil's real strengthening more than 1% against the dollar, while benchmark stock index Bovespa (.BVSP) jumped 1.65%. 'A NECESSITY'The lower house approved the reform by 382-118 in the first round of voting held late on Thursday.

Persons: Luiz Inacio Lula da Silva, Lula, Fernando Haddad, Haddad, Rodrigo Pacheco, Arthur Lira, Jair Bolsonaro, Maria Carolina Marcello, Carolina Pulice, Gabriel Araujo, Michael Perry, Devika Syamnath, Alistair Bell Organizations: Lawmakers, Senate, Markets, JPMorgan, Finance, Workers ' Party, Thomson Locations: BRASILIA, Brazil

☆ Brazil building collapse leaves five dead, eight still missing
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, July 7 (Reuters) - A building collapsed on Friday in Brazil's northeastern state of Pernambuco, leaving at least five dead and eight others missing, civil defense authorities said. [1/5]Rescue workers look for victims among debris of a building collapse in Recife, Pernambuco state, Brazil July 7, 2023. REUTERS/Anderson StevensThe Pernambuco government said on social media that eight teams had been dispatched to the site after civil defense learned of the collapse at 6:35 a.m. (0935 GMT). Recife, a coastal city of some 1.5 million people, has been grappling with heavy rains in recent days. Reporting by Gabriel Araujo; Editing by Brad Haynes, Mark Porter and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Anderson Stevens, Gabriel Araujo, Brad Haynes, Mark Porter, Sandra Maler Organizations: SAO PAULO, REUTERS, Thomson Locations: Brazil's, Pernambuco, Janga, Recife, Brazil

☆ ByteDance launches new music streaming service in Brazil, Indonesia
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, July 6 (Reuters) - Chinese company ByteDance, which owns short-video company TikTok, on Thursday said it will launch a new music streaming service in Brazil and Indonesia, as it tries to become a player in that market. The initiative is a new attempt by ByteDance, as the company in a statement said it will stop its existing music streaming service Resso as of Sept. 5 in both countries. Media reports late last year said ByteDance was planning an expansion into more countries of its music streaming service, a market currently led by companies like Spotify (SPOT.N). TikTok Music will have three monthly plans in Brazil that will cost between 8.5 reais ($1.73) and 26.9 reais, data on its website showed, slightly below the service price Spotify offers. ($1 = 4.9218 reais)Reporting by Andre Romani; Writing by Carolina Pulice; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Persons: ByteDance, Andre Romani, Carolina Pulice, Mark Porter Organizations: SAO PAULO, Media, Spotify, Thomson Locations: Brazil, Indonesia, India

☆ In the Azores: Earth, Water, Fire and Air, Sometimes All at Once
▼ + stars: | 2023-07-05 | by ( Amy Thomas | ) www.nytimes.com time to read: +2 min

After our fill of scampering, we went to nearby Ponta da Ferraria to soak. A bubbling hot spring beneath the lava cliffs creates a heated cove right within the ocean. We followed the trail of sunbathers and adventure seekers past the indoor spa to the black, sometimes jagged, rocks where scores of people lay. Warm and churning, invigorating and intimidating, the water bounced us between the rocky edges and a rope strewn across the waterway for safe-holding. We parked and walked to the trailhead, the wind whipping against us, stirring whitecaps on the volcanic lake thousands of feet below.

Organizations: whitecaps Locations: Ponta, Lagoa, Fogo, Lake, Fire

☆ China automaker BYD to invest $620 million in Brazil industrial complex
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, July 4 (Reuters) - Chinese automaker BYD (002594.SZ) on Tuesday said it will invest 3 billion reais ($620.17 million) in a new industrial complex in northeastern Brazil, as it aims to boost local production to offer more competitive prices. The complex, made up of three plants, will be built in the Camacari industrial park in the northeastern state of Bahia, on land formerly occupied by a Ford (F.N) plant that closed in 2021. The announcement comes on the back of a reported push from the government to incentivize BYD to build a new electric car hub after Ford closed its plant in the state. One of the plants will be dedicated to production of chassis for buses and electric trucks, BYD said in a statement. ($1 = 4.8374 reais)Reporting by Patricia Vilas Boas; Writing by Carolina Pulice; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Ford, incentivize, BYD, Patricia Vilas Boas, Carolina Pulice, Bill Berkrot Organizations: SAO PAULO, Ford, Thomson Locations: Brazil, Bahia

☆ Chinese navy makes rare foray into West Africa with Nigeria visit
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 3 (Reuters) - A naval fleet of China's People's Liberation Army (PLA) led by the destroyer Nanning arrived in Nigeria on Sunday, in a rare visit by the Chinese military to Africa's Atlantic coast, where Beijing has long made efforts to grow its influence. The Chinese ambassador to Nigeria hailed the five-day visit as a milestone in ties, while the Nigerian navy expressed willingness to work with China to tackle maritime security threats and maintain stability in the Gulf of Guinea, the Chinese embassy said in a statement on Monday. Oil-rich West Africa is an important global exporter of crude. The region, mostly Angola and Nigeria, is among China's top oil suppliers. Major Chinese oil explorer CNOOC Ltd also engages in deep-sea production off the coast of Nigeria.

Persons: Nanning, CNOOC, Ryan Woo, Clarence Fernandez Organizations: Liberation Army, PLA, Thomson Locations: BEIJING, Nigeria, Beijing, Nigerian, China, Gulf, Guinea, Africa, Angola, Sao Tome and Principe, Taiwan, Djibouti

☆ Brazil’s Jair Bolsonaro is barred from running for office until 2030
▼ + stars: | 2023-07-01 | by ( ) www.cnbc.com time to read: +6 min

Former Brazilian President Jair Bolsonaro leaves his home following a search operation, in Brasilia, Brazil May 3, 2023. Far-right former Brazilian President Jair Bolsonaro was barred Friday from running for office again until 2030 after a panel of judges concluded that he abused his power and cast unfounded doubts on the country's electronic voting system. Five judges on the nation's highest electoral court agreed that Bolsonaro used government communication channels to promote his campaign and sowed distrust about the vote. Speaking to reporters in Minas Gerais, Bolsonaro lamented that the trial was unfair and politically motivated. Brazilian law forbids candidates with criminal sentences from running for office.

Persons: Jair Bolsonaro, Bolsonaro, Carlos Melo, Judge Carmen Lucia —, —, Alexandre de Moraes, Melo, Fernando Collor de Mello, Luiz Inácio Lula da Silva, Sen, Sergio Moro, Maria Maris, Maris, Lula, Swift jailing, Gleisi Hoffmann, mongers, Donald Trump, Marie Santini, Katia Caminha, Caminha, Bolsonaro's, Thomas Traumann, didn't, Traumann Organizations: Insper University, Liberal Party, Federal, Lula's Workers ' Party, Federal University of Rio, Bolsonaro, Associated Press, Sao Paulo Locations: Brasilia, Brazil, Sao Paulo, Minas Gerais, Rio de Janeiro, Federal University of Rio de Janeiro, Rio de, Copacabana, Sao, decamp, Florida

☆ Google hires Brazil's Temer to lobby on controversial internet bill
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

June 30 (Reuters) - Google (GOOGL.O) has hired Brazilian former President Michel Temer to lobby lawmakers considering a proposal to regulate the internet, his adviser said on Friday. The bill has raised concerns from tech companies, with some launching campaigns on their platforms to defeat it. Nearly two months ago, the South American country's top court ordered an investigation into executives at social messaging service Telegram and Google who led a campaign criticizing the proposed regulation. Temer's adviser said the former president was hired by the company to mediate proposals and talks with Brazil's parliament. Brazil's Supreme Court is likely to rule on two appeals that may make the internet legislation more flexible.

Persons: Michel Temer, Sao Paulo, Temer, Orlando Silva, Carolina Pulice, David Alire Garcia, David Gregorio, Diane Craft Organizations: Fake, American, Google, Folha, Sao, Brazil's, Brazil, Thomson

SAO PAULO, June 30 (Reuters) - Power grids around the world are not yet ready for the so-called flying car, an executive with Brazilian start-up Eve Air Mobility (EVEX.N) told Reuters, adding that the electric aircraft maker is in talks with power providers to bridge the gap. Eve's Services & Operations Solutions Vice President, Luiz Mauad, said the nascent industry does face challenges when it comes to the power supply the electric aircraft needs to recharge. But he expressed optimism they would be overcome in time for Eve to meet its target of starting commercial operations in 2026. Mauad said Eve has been talking to global power generators and distributors about making infrastructure adequate for the electric vertical take-off and landing aircraft (eVTOLs), including the so-called vertiports they would take off from. "But there is still the 'final mile' challenge so that power can get to the vertiports."

Persons: Luiz Mauad, Eve, Mauad, Eve's, Gabriel Araujo, Rosalba O'Brien Organizations: SAO PAULO, Mobility, Reuters, Services, Operations, planemaker Embraer, EMBR3, Thomson Locations: Brazilian, Brazil, United States, India, France

☆ Bolsonaro eyes 2026 candidacy for his wife as his political future evaporates
▼ + stars: | 2023-06-30 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +3 min

RIO DE JANEIRO, June 30 (Reuters) - Former Brazil President Jair Bolsonaro's hopes of reclaiming the presidency in 2026 may be all but dead. A majority of Brazil's federal electoral court (TSE) justices on Friday froze Bolsonaro's political career, barring the far-right nationalist from public office until 2030 for spreading baseless claims about the country's voting system in last year's election. The majority ruling represents a devastating setback for the 68-year-old career politician who was until recently Brazil's most powerful man. Speaking on Thursday shortly after landing in Rio de Janeiro, where he was greeted with shouts of "criminal" and "coup-monger," Bolsonaro backed his wife Michelle for 2026. Michelle Bolsonaro is a political newcomer.

Persons: Jair Bolsonaro's, Bolsonaro, Michelle, Luiz Inacio Lula da Silva, Tarcisio Freitas, Romeu Zema, Michelle Bolsonaro, Lula, William Douglas, Flavio Bolsonaro, Eduardo Bolsonaro, Steve Bannon, Gabriel Stargardter, Rosalba O'Brien Organizations: RIO DE, Sao Paulo, Liberal Party, Evangelical Christian, Thomson Locations: RIO DE JANEIRO, Brazil, Rio de Janeiro, Sao, Minas Gerais, Brasilia, Rio

☆ Brazil's Lula says inflation targets too 'rigid'
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, June 29 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Thursday the country's inflation targets were excessively rigid and renewed criticism of the central bank for high interest rates ahead of a meeting that will set its 2026 inflation goals. Lula's remarks came as financial markets closely watch the National Monetary Council's (CMN) meeting later in the day for potential changes on inflation targets, which are currently at 3.25% for 2023 and 3% for the next two years. "Personally I think Brazil should not have such a rigid inflation target if it cannot meet it," Lula said in an interview with Radio Gaucha. "But it's not prudent for me to talk about the monetary council ahead of its meeting." Lula previously hinted at potentially changing inflation targets to increase them and enable monetary policy easing, a move that ended up worsening expectations for consumer price changes.

Persons: Luiz Inacio Lula da Silva, Lula's, Lula, Gabriel Araujo, Steven Grattan Organizations: SAO PAULO, Monetary, Radio Gaucha, Thomson Locations: Brazil

☆ Brazil finance minister confirms 3% inflation target in 2024, backs tweaking time frame
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, June 29 (Reuters) - Brazil's finance minister has confirmed the country's monetary council will keep next year's inflation target at 3%, but reiterated he expects the body to tweak the time frame used to assess the goal's fulfillment. Fernando Haddad's remarks in an interview with GloboNews aired late on Wednesday came as markets on Thursday closely watch the National Monetary Council's (CMN) meeting for potential changes on inflation targets. Inflation targets that have the calendar year as a time frame cause "unnecessary pressure," he said. The central bank currently targets inflation of 3.25% in 2023 and 3% in 2024 and 2025, with a tolerance margin of 1.5 percentage points up or down. Lula previously hinted at potentially changing inflation targets to increase them and enable monetary policy easing, a move that helped worsen expectations for consumer price changes.

Persons: Fernando Haddad's, GloboNews, Haddad, Luiz Inacio Lula da, Lula, Fabricio de Castro, Gabriel Araujo, Emelia Sithole Organizations: SAO PAULO, Monetary, Thomson

☆ Carrefour Brasil bets on know-how to expand small stores operation
▼ + stars: | 2023-06-29 | by ( Carolina Pulice | ) www.reuters.com time to read: +2 min

MEXICO CITY (Reuters) - Grupo Carrefour Brasil launched a franchise model of convenience stores in the Brazilian market on Wednesday, aiming to tap into its know-how from years of experience in Europe, a top executive said. FILE PHOTO: A general view of a Carrefour supermarket in Sao Paulo, Brazil July 18, 2017. REUTERS/Paulo WhitakerCarrefour Brasil’s convenience executive director Joao Edson Gravata said that the franchise format would put Carrefour in a stronger position to take on competitors. Those stores would supplement its 152 existing Brazilian company-owned Carrefour Express format stores. About a year ago Grupo Nos, a venture between Brazilian energy firm Raizen and Mexican retailer Femsa, launched its first Oxxo-branded convenience stores.

Persons: Paulo Whitaker, Joao Edson Gravata, Gravata, “, ”, Pedro Melo, Alberto Serrentino, Melo, Pao Organizations: MEXICO CITY, Grupo Carrefour Brasil, Carrefour, REUTERS, Paulo Whitaker Carrefour, Carrefour Express, Pontifical Catholic University, Sao Paulo, PUC, Grupo Ultra’s, Grupo, Dia, Hirota Locations: MEXICO, Europe, Sao Paulo, Brazil, Brazil’s

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