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☆ Brazil auto exports to plunge this year as Argentina crisis hits hard
▼ + stars: | 2023-10-06 | by ( Alberto Alerigi | ) www.reuters.com time to read: +3 min

Covered new cars are displayed during the Salao do Automovel International Auto Show in Sao Paulo, Brazil November 7, 2018. REUTERS/Paulo Whitaker/File Photo Acquire Licensing RightsSAO PAULO, Oct 6 (Reuters) - Brazilian auto exports are set to plunge by double digits in 2023 when compared with the previous year, automaker association Anfavea said on Friday, as a severe economic crisis in neighboring Argentina hits shipments to that country. "Exports have been the major warning point for the automotive sector in the first nine months of the year," it said. According to Anfavea, the crisis in Argentina caused the country - which has in Brazil its largest trade partner - to lose its position as the No.1 destination of Brazilian auto exports to Mexico this year. In the first nine months of 2022, Anfavea said, auto exports from Brazil have already declined 11.2% from the same period a year ago.

Persons: Paulo Whitaker, Anfavea, Marcio de Lima Leite, Leite, Alberto Alerigi Jr, Gabriel Araujo, Steven Grattan, Angus MacSwan Organizations: REUTERS, SAO PAULO, Thomson Locations: Sao Paulo, Brazil, Argentina, Mexico, Chile, Colombia

☆ Metalworkers suspend strike at Embraer plant in Brazil
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

A view of a miniature airplane at the assembly line of the Embraer aircraft factory in Sao Jose dos Campos, Brazil, May 30, 2022. Sindmetal said it would pitch a new strike with workers on another shift at 3 p.m. local time (1800 GMT). The metalworkers had voted to go on strike early on Tuesday, saying they had rejected a wage offer from the company. According to the union, they had warned Embraer of the potential strike on Sept. 26 but the wage proposal was not sweetened. Negotiations between FIESP and the unions continue," Embraer said, adding that its other factories are also operating normally.

Persons: Sao Jose dos Campos, Carla Carniel, dos Campos, Sindmetal, metalworkers, FIESP, Gabriel Araujo, Andre Romani, Steven Grattan, Lisa Shumaker 私 Organizations: Embraer, REUTERS, SAO PAULO, Local, Boeing, Airbus Locations: Sao Jose, Brazil, SA, FIESP

☆ Brazil police carry out raids as part of Jan. 8 riots probe
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

Brazil's flag is reflected on a broken window, after the supporters of Brazil's former President Jair Bolsonaro participated in an anti-democratic riot at Planalto Palace, in Brasilia, Brazil, January 9, 2023. Police, according to a statement, were serving three arrest warrants and 10 search-and-seizure warrants ordered by the Supreme Court in four states - Sao Paulo, Parana, Minas Gerais and Goias. The raids represent the 17th phase of an operation launched in mid-January to identify people who participated in, funded or fostered the riots, in which a crowd invaded and ransacked the Congress, presidential palace and Supreme Court. Earlier this month, the Supreme Court voted to convict the first three people to stand trial for the riots, sentencing them each to at least 14 years in prison. Bolsonaro himself has faced a congressional inquiry surrounding the Jan. 8 insurrection and multiple police probes overseen by the Supreme Court.

Persons: Jair Bolsonaro, Ueslei Marcelino, Luiz Inacio Lula da Silva, d'état, Bolsonaro, Gabriel Araujo, Bernadette Baum 私 Organizations: REUTERS, SAO PAULO, Police, Supreme Locations: Planalto, Brasilia, Brazil, Sao Paulo, Parana, Minas Gerais, Goias

The legal team had initially set a Friday deadline. "The ball is on their court, we've been waiting for their response," said Viana, a partner at law firm Vieira Rezende Advogados. His lawyers want Hamilton, who was racing for McLaren at the time to support the claims. He is an honorary Brazilian citizen and very well liked by Brazilians, so I hope he will support us," Viana said. Despite that, Viana said Massa's legal team were confident they had a strong case and enough evidence to bring the Brazilian the championship.

Persons: Felipe Massa, Lewis Hamilton, Bernardo Viana, we've, Viana, Vieira Rezende Advogados, Hamilton, Nelson Piquet Jr, Massa, Piquet, Fernando Alonso, supremo Bernie Ecclestone, Max Mosley, Mosley, Ecclestone, Charlie Whiting, Massa's, Nick de Marco, Gabriel Araujo, Ken Ferris, Toby Davis Organizations: SAO PAULO, Reuters, Formula, FIA, Ferrari, Massa, Renault, Singapore, Prix, McLaren, Hamilton, Mercedes, supremo, Thomson Locations: Singapore, Brazilian

☆ At least 39 dead as cyclone hits Brazil's southernmost state
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Affected houses are seen in a flooded area after an extratropical cyclone hit southern towns, in Mucum, Rio Grande do Sul, Brazil, September 6, 2023. REUTERS/Diego Vara Acquire Licensing RightsRIO DE JANEIRO, Sept 7 (Reuters) - At least 39 people have died and nine remain missing after a cyclone battered Brazil's southernmost state Rio Grande do Sul, flooding homes and swelling rivers, local authorities said on Thursday. Governor Eduardo Leite declared a state of public calamity and canceled statewide parades meant to celebrate Brazil's Independence Day on Thursday. In addition to the 39 fatalities in Rio Grande do Sul, one person died in neighboring Santa Catarina state while driving through the city of Jupia when a tree fell on their car. Independent weather forecasters MetSul and Climatempo cautioned Rio Grande do Sul is expected to receive more heavy showers on Thursday and Friday.

Persons: Diego Vara, Eduardo Leite, We've, Leite, Luiz Inacio Lula da Silva, Geraldo Alckmin, Climatempo, Rio, Pedro Fonseca, Gabriel Araujo, Josie Kao Organizations: REUTERS, DE, Roca Sales, Cruzeiro, Sul, Thomson Locations: Mucum, Rio Grande do Sul, Brazil, DE JANEIRO, Santa Catarina, Jupia, India, Sao Paulo, Rio de Janeiro, Bahia

☆ Mercosur reply on trade deal addendum already sent to EU, Brazil minister says
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Sept 6 (Reuters) - Brazil's Foreign Relations Minister Mauro Vieira said on Wednesday the Mercosur bloc of Brazil, Argentina, Paraguay and Uruguay has already sent the European Union their position on an European addendum to their long-awaited trade agreement. Mercosur's counterproposal follows a so-called side letter from the EU including environmental safeguards to address strong reservations expressed by many EU member countries about the deal, which has been under negotiation for two decades. Reporting by Gabriel Araujo; Editing by Kylie MadryOur Standards: The Thomson Reuters Trust Principles.

Persons: Mauro Vieira, counterproposal, Gabriel Araujo, Kylie Madry Organizations: SAO PAULO, Foreign, Mercosur, European Union, Thomson Locations: Brazil, Argentina, Paraguay, Uruguay

SAO PAULO, Sept 6 (Reuters) - The death toll from heavy rains in southern Brazil rose to 36, local authorities said on Wednesday, as a tropical cyclone battered and soaked the region, flooding homes and swelling rivers. Video obtained by Reuters showed rising water flooding streets and rivers and submerging houses in the small town of Mucum, in Rio Grande do Sul state. Dominguez Fontana, a 74-year-old sawmill worker who escaped the Mucum flooding, said nothing could be salvaged. The Rio Grande do Sul floods are just the latest recent natural disasters in Brazil. More than 50 people were killed in Sao Paulo state this year after massive downpours caused landslides and flooding.

Persons: Dominguez Fontana, Luiz Inacio Lula da Silva, Eduardo Leite, Lula, Geraldo Alckmin, Eduardo Simoes, Gabriel Araujo, Kylie Madry, William Maclean, David Gregorio Our Organizations: SAO PAULO, Reuters, Roca, Thomson Locations: Brazil, Mucum, Rio Grande do Sul, Sao Paulo, Petropolis, Rio de Janeiro, Bahia, Santa Catarina

☆ Deforestation in Brazil's Amazon falls 66% in August
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +3 min

In the first eight months of the year, INPE's figures showed, deforestation has fallen a cumulative 48% from the same period of 2022. Brazil last month hosted a major rainforest summit, where eight Amazon nations agreed to a list of unified environmental policies and measures to bolster regional cooperation but failed to agree on a common goal for ending deforestation. "We are experiencing a new moment, with more assertive policies and greater political will in favor of the Amazon," WWF-Brasil's director, Mariana Napolitano, said. But more is still needed, including traceability and transparency in the trade of livestock, gold and other commodities, she added. Reporting by Gabriel Araujo and Peter Frontini; editing by Jonathan Oatis and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Bruno Kelly, Marina Silva, INPE, Luiz Inacio Lula da Silva, Jair Bolsonaro, Lula, Bolsonaro, Mariana Napolitano, Gabriel Araujo, Peter Frontini, Jonathan Oatis, Sandra Maler Organizations: REUTERS, Environment Ministry, Thomson Locations: Uruara, Para, Brazil

☆ Exclusive: Brazil's Petrobras plans China subsidiary in push to boost ties, CEO says
▼ + stars: | 2023-08-31 | by ( Marta Nogueira | ) www.reuters.com time to read: +2 min

Prates said Petrobras aims to open the Chinese subsidiary next year, after getting formal approval. "It's important to them," Prates said in a phone interview during a business trip to China. "It is an interesting signal, saying that in the same way that we have a Petrobras America, we will have a Petrobras China, because both countries are equally important to us," he added. Prates said Petrobras China subsidiary would allow Petrobras to operate and participate in projects as partner even in other countries, including in Africa. Petrobras wants to increase its share of China's oil imports to 15% from the current 5% in the next 10 to 20 years, Prates said.

Persons: Sergio Moraes, Jean Paul Prates, Jair Bolsonaro, Prates, Luiz Inacio Lula da Silva, Lula, didn't, Marta Nogueira, Gabriel Araujo, Brad Haynes, David Gregorio Our Organizations: Petroleo Brasileiro S.A, REUTERS, DE, Petrobras, PETR4, Reuters, Petrobras America, White House, HK, CITIC, China Development Bank, Bank of China, Thomson Locations: Rio de Janeiro, Brazil, DE JANEIRO, SA, China, Petrobras China, United States, Beijing, Africa

A cameraman films wreckage of the private jet linked to Wagner mercenary chief Yevgeny Prigozhin near the crash site in the Tver region, Russia, August 24, 2023. U.S. aviation safety consultant and former investigator John Cox said an internal Russian investigation would always be questioned without the participation of Brazil, the country where the plane was manufactured. "I think it hurts the transparency of the Russian investigation." In air crash investigations, experts work to improve aviation safety without assigning blame, but probes are often tainted by political interests. Jeff Guzzetti, a former U.S. air crash investigator, said Russia should accept assistance from Brazil, even if CENIPA can only participate remotely.

Persons: Wagner, Yevgeny Prigozhin, Marina, Prigozhin, Vladimir Putin's, Marcelo Moreno, John Cox, Cox, CENIPA, Jeff Guzzetti, Allison Lampert, Gabriel Araujo, Valerie Insinna, Denny Thomas, Grant McCool Organizations: REUTERS, SAO PAULO, Embraer, EMBR3, Reuters, Wagner Group, Brazil's Center for Research, Aeronautical, United Nations International Civil Aviation Organization, Interstate Aviation Committee, Accident Investigation, U.S ., Convention, International Civil Aviation, Thomson Locations: Tver, Russia, MONTREAL, SA, Moscow, Russian, Ukraine, Montreal, St Petersburg, Brazil, U.S, Sao Paulo, Washington

Brazil's Center for Research and Prevention of Aeronautical Accidents (CENIPA), in the interests of improving aviation safety, had said it would join a Russian-led investigation if it were invited and the probe held under international rules. U.S. aviation safety consultant and former investigator John Cox said an internal Russian investigation would always be questioned without the participation of Brazil, the country where the plane was manufactured. "I think it hurts the transparency of the Russian investigation." In air crash investigations, experts work to improve aviation safety without assigning blame, but probes are often tainted by political interests. Jeff Guzzetti, a former U.S. air crash investigator, said Russia should accept assistance from Brazil, even if CENIPA can only participate remotely.

Persons: Wagner, Yevgeny Prigozhin, Anton Vaganov, Prigozhin, Vladimir Putin's, Marcelo Moreno, John Cox, Cox, CENIPA, Jeff Guzzetti, Allison Lampert, Gabriel Araujo, Valerie Insinna, Denny Thomas, Grant McCool Organizations: Police, REUTERS, SAO PAULO, Embraer, EMBR3, Reuters, Wagner Group, Brazil's Center for Research, Aeronautical, United Nations International Civil Aviation Organization, Interstate Aviation Committee, Accident Investigation, U.S ., Convention, International Civil Aviation, Thomson Locations: Tver, Russia, MONTREAL, SA, Moscow, Russian, Ukraine, Montreal, St Petersburg, Brazil, U.S, Sao Paulo, Washington

☆ Brazil's Lula wants to discuss changes to UN Security Council with Biden
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

President of Brazil Luiz Inacio Lula da Silva and President Joe Biden walk along the West Colonnade to the Oval Office at the White House in Washington, U.S. February 10, 2023. Sarah Silbiger/Pool via REUTERS/File photo Acquire Licensing RightsSAO PAULO, Aug 29 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Tuesday he wants to discuss the possibility of making changes to the United Nations Security Council with his U.S. counterpart Joe Biden. Lula, who has long campaigned for Brazil and other countries to be permanently included in the council, is expected to meet Biden on the sidelines of the U.N. General Assembly next month in New York. Last week, during a summit of the BRICS group of emerging nations in South Africa, the leftist leader called on fellow BRICS members China and Russia to support more countries entering the council as permanent members. The Brazilian leader added in a live broadcast on social media that BRICS members have agreed to discuss until next year's summit the possibility of establishing a common currency for trade between them.

Persons: Brazil Luiz Inacio Lula da Silva, Joe Biden, Sarah Silbiger, Luiz Inacio Lula da Silva, Lula, Biden, Gabriel Araujo, Eduardo Simoes, Kylie Madry Organizations: White, SAO PAULO, United Nations Security Council, U.S, General Assembly, Congress, Thomson Locations: Washington , U.S, Brazil, New York, South Africa, China, Russia, India, Germany, Japan

☆ Brazil's Natura mulls sale of The Body Shop
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

The logo of British cosmetics and skin care company The Body Shop is seen outside a store in Vienna, Austria, June 4, 2016. REUTERS/Leonhard Foeger Acquire Licensing RightsSAO PAULO, Aug 28 (Reuters) - Brazilian cosmetics maker Natura &Co (NTCO3.SA) said on Monday its board of directors had authorized the company to search for "strategic alternatives" for its subsidiary The Body Shop, including a potential sale of the business. The move comes after the Brazilian company in April agreed to sell its luxury brand Aesop to French cosmetics group L'Oreal (OREP.PA) at an enterprise value of $2.53 billion. Natura grew through high profile acquisitions in recent years, including the purchase of The Body Shop from L'Oreal in 2017, but has now been looking for "discipline" and deleveraging as it aims to bring back profitability. "There can be no assurance that this process will result in any transaction," Natura said in a securities filing about the potential Body Shop deal.

Persons: Leonhard Foeger, Roberto Marques, Fabio Barbosa, Gabriel Araujo, Kylie Madry Organizations: REUTERS, SAO PAULO, Natura, L'Oreal, Thomson Locations: Vienna, Austria, Brazilian, Natura

Firefighters work amid aircraft wreckage at an accident scene following the crash of a private jet in the Tver region, Russia, August 23, 2023. Yevgeny Prigozhin, chief of Russian private mercenary group Wagner, was reportedly listed as a passenger on a private jet which crashed north of Moscow on August 23, 2023. Within about 30 seconds, the aircraft had plummeted more than 8,000 feet from its cruising altitude of 28,000 feet. “Whatever happened, happened quickly,” Petchenik said. “They may have been wrestling (with the aircraft) after whatever happened," Petchenik said.

Persons: Yevgeny Prigozhin, Wagner, Prigozhin, ”, Ian Petchenik, ” Petchenik, “, Petchenik, Flightradar24, Valerie Insinna, Allison Lampert, Gabriel Araujo, Caroline Pulice, Cynthia Osterman Organizations: Acquire, Embraer, EMBR3, ”, Reuters, planemaker Embraer SA, Russia, Thomson Locations: Tver, Russia, Moscow, St . Petersburg, Kuzhenkino, Tver Region, Flightradar24, Russian, Belarus, Washington, Montreal, Sao Paulo, Mexico City

☆ 'New scenario' opens for Argentina with BRICS invitation, Fernandez says
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

Argentina's President Alberto Fernandez speaks during a news conference at the Itamaraty Palace in Brasilia, Brazil, June 26, 2023. REUTERS/Adriano Machado/File Photo Acquire Licensing RightsAug 24 (Reuters) - A "new scenario" opens for Argentina with the invitation for the South American country to join the BRICS group of developing nations, President Alberto Fernandez said on Thursday. Argentina wanted to join BRICS - a group currently made up of Brazil, Russia, India, China and South Africa - because of the bloc's geopolitical and financial importance during a difficult global context, Fernandez said in a speech. Argentina was invited to join BRICS along with Saudi Arabia, Iran, Ethiopia, Egypt and the United Arab Emirates, as the group convenes in South Africa this week. By joining BRICS, Argentina will act as an important interlocutor and potential broker for consensus with other nations, Fernandez added.

Persons: Alberto Fernandez, Adriano Machado, Fernandez, Gabriel Araujo, Kylie Madry, Christina Fincher, Chizu Organizations: REUTERS, South, BRICS, United Arab, Thomson Locations: Brasilia, Brazil, Argentina, Russia, India, China, South Africa, Saudi Arabia, Iran, Ethiopia, Egypt, United Arab Emirates, BRICS

Russian authorities said Prigozhin was listed as a passenger on a private jet that crashed on Wednesday evening, killing all those onboard. Russia's TASS news agency said the plane was a Brazilian Embraer jet. Embraer (EMBR3.SA) on Wednesday said it was aware of a Legacy 600 plane crash in Russia, but that did not have further information about the case. Flightradar24 online tracker showed that the Embraer Legacy 600 (plane number RA-02795) said to be carrying Prigozhin had dropped off the radar at 6:11 p.m. local time (1511 GMT). The Legacy 600 entered service in 2002, according to International Aviation HQ, with almost 300 produced until production ceased in 2020.

Persons: Denis Balibouse, Wagner, Yevgeny Prigozhin, Prigozhin, Allison Lampert, Gabriel Stargardter, Rosalba O'Brien, Josie Kao Organizations: Embraer, European Business Aviation Convention, REUTERS, International Aviation, Russia's TASS, Brazilian Embraer, EMBR3, Thomson Locations: Geneva, Switzerland, Russia, Brazilian, Brazil, United States

☆ Brazil's Lula in favor of Argentina joining BRICS bloc
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +3 min

SAO PAULO, Aug 22 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Tuesday he wanted Argentina to join the BRICS group of emerging countries, as Brazil's neighbor struggles with a lack of foreign reserves. "It is very important for Argentina to be in BRICS," Lula said in a live broadcast on social media as he attends the bloc's summit in South Africa. Argentina, whose largest trade partner is Brazil, has previously said it intended to join the BRICS bloc. Lula also said he was in favor of other countries joining the alliance, mentioning Indonesia as a potential new member. "We do not want to be a counterpoint to the G7, G20 or the United States," Lula said.

Persons: Luiz Inacio Lula da Silva, Lula, Javier Milei, Ian Bremmer, Gabriel Araujo, Kylie Madry, Mark Potter Organizations: SAO PAULO, International Monetary Fund, South, U.S ., Thomson Locations: Argentina, BRICS, South Africa, Brazil, Russia, India, China, Indonesia, Babel, Eurasia, Saudi Arabia, United States

☆ Brazil govt pushes Congress to approve 'green' bills before COP28
▼ + stars: | 2023-08-18 | by ( Leticia Fucuchima | ) www.reuters.com time to read: +3 min

[1/2] A view of a wind farm is seen in the city of Osorio, in southern Brazil, November 30, 2007. Rollemberg said the government-sponsored bills would be focused on four main topics: establishing a new carbon market, regulating offshore wind power, launching the "Fuel of the Future" project and regulating green hydrogen. That bill might be submitted to Congress as early as next week, the secretary said. It's more than enough time for Congress to pass all the bills," Rollemberg said. The South American nation is set to host the U.N. climate talks in 2025 in the Amazonian town of Belem.

Persons: Jamil Bittar, Rodrigo Rollemberg, Luiz Inacio Lula da Silva, Jair Bolsonaro, Lula, Rollemberg, Leticia Fucuchima, Gabriel Araujo, Marguerita Choy Organizations: REUTERS, Rights, Boeing, SAO PAULO, Reuters, United Nations, SAF, Thomson Locations: Osorio, Brazil, BRAZIL, Dubai, Belem

An Embraer E195-E2 Profit Hunter aircraft is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier//File PhotoSAO PAULO, Aug 14 (Reuters) - Brazilian planemaker Embraer (EMBR3.SA) on Monday shot past market estimates for second-quarter results, with its chief executive voicing optimism about upcoming quarters for the company. "Despite the supply chain challenges, we are very optimistic about this year after a good Q2," Gomes Neto said. "We're working hard so next year we can better spread out production and deliveries throughout the year, which will further improve the company's performance," Gomes Neto added. The planemaker reported a 25% increase in second quarter adjusted net profit to $57.9 million, more than double the $24.3 million forecast by analysts polled by Refinitiv.

Persons: Benoit Tessier, Francisco Gomes Neto, Gomes Neto, BTG Pactual, Gabriel Araujo, Jason Neely, Barbara Lewis, Sharon Singleton Organizations: Embraer, Hunter, International Paris Air, Le, REUTERS, SAO PAULO, EMBR3, Airbus, Boeing, Refinitiv, JPMorgan, Thomson Locations: Le Bourget, Paris, France

☆ Brazil launches 'growth acceleration' plan set to invest $350 billion
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A general view of the Copa Cabana beach during Independence Day celebrations, in Rio de Janeiro, Brazil September 7, 2022. But the government said its new version would be marked by a strong partnership between the public and private sectors, with more than 1.3 trillion reais estimated to be disbursed by 2026. According to a statement, 371 billion reais are set to be invested by the federal government, while state-owned firms such as oil giant Petrobras (PETR4.SA) would inject 343 billion. The private sector, it added, is seen investing a total 612 billion reais, added. Sao Paulo, the country's wealthiest and most populous state, comes second with an estimated 179.6 billion reais being invested in major infrastructure projects.

Persons: Ricardo Moraes, Luiz Inacio Lula da Silva, Lula, Dilma Rousseff, Sao, Rodrigo Viga Gaier, Gabriel Araujo, Steven Grattan, Frances Kerry Organizations: Copa Cabana, REUTERS, Brazil's, Petrobras, PETR4, Sao Paulo, Paulo, Thomson Locations: Rio de Janeiro, Brazil, JANEIRO

☆ Brazil's Lula unveils $350 bln 'growth acceleration' plan
▼ + stars: | 2023-08-11 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +3 min

A general view of the Copa Cabana beach during Independence Day celebrations, in Rio de Janeiro, Brazil September 7, 2022. Critics say it incurred excessive spending, exacerbating Brazil's fiscal crisis, while failing to bring fundamental advances in infrastructure. The government did not immediately detail the fiscal impact of the initiative, or give a specific time frame for the plan. Yet Lula is under pressure to deliver much-needed growth to poor, under-developed regions and he wants Petrobras to be an engine of growth. "We'll accelerate growth in our country and help stop degradation of our planet," Haddad said in a speech.

Persons: Ricardo Moraes, Luiz Inacio Lula da Silva, Dilma Rousseff, Staff Rui Costa, Lula, Jair Bolsonaro, Fernando Haddad, Haddad, Rodrigo Viga Gaier, Gabriel Araujo, Steven Grattan, Anthony Boadle, Kirsten Donovan Organizations: Copa Cabana, REUTERS, Staff, Petrobras, PETR4, Finance, Sao Paulo, Thomson Locations: Rio de Janeiro, Brazil, JANEIRO, Sao

☆ LATAM Airlines sees stronger 2023 after Q2 results boost
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

A Latam Airlines airplane is seen at Guarulhos International Airport amid the outbreak of the coronavirus disease (COVID-19), in Guarulhos, near Sao Paulo, Brazil, May 19, 2020. REUTERS/Amanda PerobelliSANTIAGO, Aug 2 (Reuters) - LATAM Airlines expects "record" net earnings in 2023 after posting stronger second-quarter results and improved forecasts, company executives said on Wednesday, hoping to bolster investor confidence after the company's exit from bankruptcy in November. "Without a doubt we are foreseeing a much better financial situation and very good profitability in 2023," he told reporters. Alfonsin added that the company was expecting to hit pre-pandemic level results for the year and record EBITDAR. LATAM Airlines, South America's largest airline, operates units across the continent, with routes across the world.

Persons: Amanda Perobelli SANTIAGO, Ramiro Alfonsin, Alfonsin, Fabian Cambero, Gabriel Araujo, Isabel Woodford, Valentine Hilaire, Gerry Doyle Organizations: Latam Airlines, Guarulhos, REUTERS, LATAM Airlines, South America's, Chilean, LAN, Brazilian, TAM, U.S . Department of Transportation, U.S, Thomson Locations: Guarulhos, Sao Paulo, Brazil, Santiago, South

☆ Argentina won't use 'one dollar' of reserves to repay IMF, says Massa
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, July 31 (Reuters) - Argentina's Economy Minister Sergio Massa said on Monday the country will not use "a single dollar" of its own reserves to make a $2.7 billion repayment to the International Monetary Fund (IMF) due this week. Argentina, which has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves, needed to avoid a default with the Fund, with maturities of $2.6 billion due on Monday and almost $800 million due on Tuesday. "I want to bring you peace of mind - Argentina is not going to use a single dollar of its reserves to pay today's maturity," Massa said in a televised speech. The challenge for Argentina now, he added, is to "continue to take care of the (foreign currency) reserves while maintaining the economic activity levels." Reporting by Eliana Raszewski and Gabriel Araujo; Editing by Bernadette Baum and Alexander VIllegasOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Massa, Eliana Raszewski, Gabriel Araujo, Bernadette Baum, Alexander VIllegas Organizations: International Monetary Fund, Development Bank of Latin America, CAF, IMF, Thomson Locations: BUENOS AIRES, China, Buenos Aires, Argentina

☆ Brazil's jobless rate hits lowest since 2014 for a quarter through June
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, July 28 (Reuters) - Brazil's jobless rate fell in the quarter through June to its lowest level for the period in nine years, statistics agency IBGE said on Friday, underscoring the labor market's resilience despite its high interest rates. It was the fourth consecutive drop for a rolling quarter, according to IBGE, which said the move reflected seasonally lower vacancy rates. Finance Minister Fernando Haddad cautioned that despite the positive data, the unemployment rate should not be perceived as an indicator of a strong economy, given the country's 10% real interest rate leading to an activity slowdown. Some economists also expect high interest rates to take their toll going ahead, as economic growth softens in the country. "All in all, the labor market remained strong in the second quarter, defying the drag from stiflingly high interest rates," Pantheon Macroeconomics' chief economist for Latin America, Andres Abadia, said.

Persons: Fernando Haddad, Haddad, Andres Abadia, Luiz Inacio Lula da Silva's, Rui Costa, Gabriel Araujo, Steven Grattan, Alistair Bell Organizations: SAO PAULO, IBGE, Reuters, Finance, Macroeconomics, Twitter, Thomson Locations: Brazil, America

[1/3] A general view after a series of explosions at grain silos owned by agro-industrial cooperative C. Vale, in the city of Palotina, Parana State, Brazil, July 27, 2023. Brazil's Parana Firefighters/Handout via REUTERSSAO PAULO, July 27 (Reuters) - At least eight people have died, one was missing and nearly a dozen others wounded after a grain silo explosion on Wednesday at an agricultural co-operative in southern Brazil, the government of Parana state said on Thursday. The blast occurred at the C.Vale co-operative in the small town of Palotina, about 600 km (370 miles) from the state's capital Curitiba. Experts say grain dust particles are highly combustible and can cause fires or explosions in confined spaces such as grain storage facilities. Fire Department Official Manoel Vasco said dogs were helping in the search of the missing worker potentially trapped under a pile of grains.

Persons: C.Vale, Jose Ricken, Ricken, Manoel Vasco, Carlos Favaro, Luiz Inacio Lula da Silva, Darci Piana, Leonardo Benassatto, Ana Mano, Gabriel Araujo, Christina Fincher, Bernadette Baum, Alison Williams Organizations: Vale, Brazil's, Brazil's Parana Firefighters, REUTERS SAO PAULO, Fire, Agriculture, Thomson Locations: Palotina, Parana State, Brazil, Brazil's Parana, Parana, Curitiba . Parana, Paraguay

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