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☆ 2 top executives at consulting giant McKinsey broke down 3 ways Gen Z is transforming the workplace
▼ + stars: | 2023-01-16 | by ( Cadie Thompson | Pete Syme | ) www.businessinsider.com time to read: +4 min

Gen Z is starting to transform the workplace, according to two McKinsey executives at Davos. They told Insider how Gen Zers are more open to collaborate than millenials, but still have strong values. "The millennial generation was like 'Let's blow up all the institutions and start from scratch'," she said, noting that Gen Z takes a more "pragmatic" approach. George told Insider how the company has changed its talent model to accommodate this. McKinsey is working hard to be "more open about who we are, and what we do, because that's how Gen Z sees the world," she added.

SAO PAULO, Jan 16 (Reuters) - Brazilian lenders BTG Pactual, Bradesco and Santander Brasil are among those most exposed to debt of Americanas SA (AMER3.SA), analysts' estimates showed on Monday, after the retailer obtained an injunction protecting it from creditors. Analysts at JPMorgan and Citi said in research notes that Banco Bradesco SA (BBDC4.SA) had the largest nominal exposure to the firm, while Banco BTG Pactual SA topped exposure as a proportion of loans. Considering JPMorgan's and Citi's estimates, BTG had a 1.9 billion-real exposure to Americanas, which was seen accounting for roughly 1.5% of its loans, while Bradesco had exposure of 4.7 billion reais, or 0.5% of loans. Banco Santander Brasil SA , the local unit of Spain's Banco Santander (SAN.MC), had 3.7 billion reais in exposure, or about 0.6% of loans. Sergio Rial, the outgoing Americanas chief executive who uncovered the accounting inconsistencies, is a former head of Santander Brasil, where he still serves as chairman of the board.

☆ Brazil's BTG Pactual appeals decision protecting billionaire-backed Americanas from creditors
▼ + stars: | 2023-01-15 | by ( Tatiana Bautzer | ) www.reuters.com time to read: 1 min

SAO PAULO, Jan 15 (Reuters) - Brazilian bank Banco BTG Pactual SA has appealed a court injunction that protected billionaire-backed retailer Americanas (AMER3.SA) from creditors on Friday, documents seen by Reuters show. In an appeal filed on Saturday, BTG lawyers argue the court injunction orders illegaly the reversal of a payment made by Americanas to BTG. Americanas and BTG did not immediately respond to requests for comment. Reporting by Tatiana Bautzer; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

Aides previously found another batch of classified documents at his residence, and at a Washington think tank he was associated with. Earlier on Friday, House Oversight Committee Chairman James Comer wrote to the White House asking whether Hunter Biden had access to classified documents found at the president's private residence. In addition to examining Biden's handling of classified documents, Republicans are preparing to probe Hunter Biden's past business dealings in Ukraine. Republicans have sought to compare the investigation of Biden's handling of classified documents to the ongoing probe into how Trump handled classified documents after his presidency. The White House said Biden's attorneys found a small number of classified documents and turned them over after discovery.

☆ Indonesia sends warship to monitor Chinese coast guard vessel
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +2 min

JAKARTA, Jan 14 (Reuters) - Indonesia has deployed a warship to its North Natuna Sea to monitor a Chinese coast guard vessel that has been active in a resource-rich maritime area, the country's naval chief said on Saturday of an area that both countries claim as their own. A warship, maritime patrol plane and drone had been deployed to monitor the vessel, Laksamana Madya Muhammad Ali, the chief of the Indonesian navy, told Reuters. "However, we need to monitor it as it has been in Indonesia's exclusive economic zone (EEZ) for some time." At the time, China urged Indonesia to stop drilling, saying the activities were happening in its territory. Southeast Asia's biggest nation says that under UNCLOS, the southern end of the South China Sea is its exclusive economic zone, and named the area as the North Natuna Sea in 2017.

☆ Brazil's govt formalizes Prates nomination as Petrobras CEO
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: 1 min

Companies Petroleo Brasileiro SA Petrobras FollowSAO PAULO, Jan 13 (Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) said on Friday the government has officially nominated Jean Paul Prates to serve as its chief executive officer and board member. President Luiz Inacio Lula da Silva had already announced he would appoint Prates for the top job. Reuters reported earlier on Friday, citing sources, that the nomination had been formalized. Reporting by Marta Nogueira and Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Lula's changes at Brazil farm ministry draw cries from food security agency
▼ + stars: | 2023-01-13 | by ( Ana Mano | ) www.reuters.com time to read: +2 min

The ministry did not comment on the changes, which are part of broader efforts by the new administration to cut government spending. In the memo, signed by a group of civil servants opposing the changes, they urge that the reshuffle be reconsidered "in the name of public health." The union ANFFA, which represents federal auditors who inspect food plants in the world's biggest chicken exporter, denounced the overhaul. "The federal laboratories network has struggled against drastic budget reduction and critical staff shortages for years," said ANFFA in a statement to Reuters. Reporting by Ana Mano in Sao Paulo Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Aides had previously found another batch of classified documents at his residence, as well as at a Washington think tank he was associated with. The Justice Department on Thursday announced it was appointing a special prosecutor to oversee the Biden documents inquiry. In addition to examining Biden's handling of classified documents, Republicans are preparing to probe Hunter Biden's past business dealings in Ukraine. Republicans have sought to compare the investigation of Biden's handling of classified documents to the ongoing probe into how Trump handled classified documents after his presidency. The White House said Biden's attorneys found a small number of classified documents and turned them over after discovery.

☆ 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.

China, the world's top oil importer, has continued buying Russian oil despite Western sanctions, after Russian President Vladimir Putin and Chinese leader Xi Jinping launched what they called a no-limit partnership before the war in Ukraine. The sources said a fifth supertanker, or very large crude carrier (VLCC), was shipping crude to India, which like China has continued buying Russian oil sold at a discount as many Western buyers turn to other suppliers. All five shipments were scheduled between Dec. 22 and Jan. 23, according to the sources and Eikon ship tracking data. The G7 price cap introduced in December allows countries outside the European Union to import seaborne Russian oil but it prohibits shipping, insurance and re-insurance companies from handling Russian crude cargoes unless sold for below the $60 cap. Industry sources say Indian refiners are securing a discount of $15-$20 per barrel on Russian oil on a delivered basis compared to Brent.

☆ Brazil making 'atypical' soy sales to Argentina, Anec says
▼ + stars: | 2023-01-12 | by ( Ana Mano | Roberto Samora | ) www.reuters.com time to read: +2 min

SAO PAULO (Reuters) -A Brazilian trade group representing global grain merchants on Thursday confirmed “atypical” sales of Brazilian soybeans to Argentina after rumors about unusual cargos being booked at this time of the year. FILE PHOTO: Soybeans are harvested at a farm in Porto Nacional, Tocantins state, Brazil March 24, 2018. Fernando Muraro, an analyst with AgRural, estimates Brazilian soy sales of 200,000 to 300,000 tonnes to Argentina for delivery in February and March. “They went up.”Crushing margins in Argentina rose by $10 per tonne in the beginning of January, to $30, making soy imports from Brazil an attractive option during the peak of Argentina’s soy inter-harvest period, Muraro added. Last year, the first Brazilian soy shipments to Argentina were recorded in April, for a batch of almost 49,000 tonnes, Brazil trade data show.

SAO PAULO/MEXICO CITY, Jan 11 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA) said on Wednesday its chief executive and chief financial officer resigned after the discovery of around 20 billion reais ($3.88 billion) in accounting "inconsistencies." Lojas Americanas CEO Sergio Rial departed less than two weeks after taking the job, when he replaced Miguel Gutierrez. Joao Guerra, a long-time Americanas executive not involved with accounting or financial management, will take over as CEO on an interim basis. The amount of accounting inconsistencies is larger than the company´s net equity, 15 billion reais, said Fabrício Gonçalvez, CEO at Box Asset Management. The amount is also almost twice Americanas' 10.7 billion reais market capitalization, according to Refinitiv data.

SAO PAULO, Jan 12 (Reuters) - Shares in Brazilian retailer Americanas SA (AMER3.SA) fell more than 75% on Thursday after its chief executive officer resigned citing the discovery of "accounting inconsistencies" totaling 20 billion reais ($3.9 billion). Rial attributed the inconsistencies to differences in accounting for the financial cost of bank loans and debt with suppliers. The outgoing CEO said Americanas would likely need a capital increase, though noted he didn't expect a short-term impact from the inconsistencies on its cash position. Analysts at Santander and JPMorgan, who rated Americanas "Neutral" and "Underweight" respectively, also forecast a major negative reaction to the news. PwC, Americanas' auditor, declined to comment on the accounting inconsistencies referred to by Rial.

WASHINGTON, Jan 11 (Reuters) - Embattled U.S. Representative George Santos said he had no plans to heed fellow New York Republicans' calls to step down, a plea they made on Wednesday due to what they called "lie after lie after lie" about his career and history. The New York Republicans made their plea at a news conference two days after a nonpartisan watchdog accused Santos of breaking campaign finance laws in a filing with the Federal Election Commission. "It's just lie after lie after lie. Republican Representative Nick Langworthy from western New York and Representative Anthony D'Esposito, who represents a district next to that of Santos, were also among those calling on the first-term congressman to step down. During the news conference, officials said they would direct Santos' constituents to Representative D'Esposito in some cases, who had agreed to help residents of Santos' district.

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The government of leftist President Luiz Inacio Lula da Silva bolstered security measures nationwide as flyers appeared on pro-Bolsonaro social media calling for mass demonstrations in Brazilian cities to "retake power." Ricardo Cappelli, the federal official in charge of public security in the capital since Sunday, said all security forces had been mobilized to prevent protests and that there would be no repeat of rioting. So far, 727 of the over 1,500 involved in Sunday's riots have been imprisoned. The Supreme Court on Wednesday upheld Moraes's arrest warrant for Anderson Torres, Bolsonaro's former justice minister who oversaw public security in Brasilia during Sunday's riots. The former president, whom Lula has blamed for inflaming the protests, did not mention Sunday's riots.

Pacheco's office and the U.S. embassy in Brasilia did not immediately respond to requests for comment. Separately, a group of 74 federal lawmakers in the United States and Brazil released a joint statement on Wednesday condemning the political violence in Brasilia and Washington that came two years and two days apart. The statement, signed mainly by progressive lawmakers in both countries, was articulated by the Washington Brazil Office, a group promoting bilateral dialogue in defense of human rights and sustainable development. "It is no secret that ultra-right agitators in Brazil and the United States are coordinating efforts," they wrote, citing ties between associates of Trump and Bolsonaro. The Jan. 6 committee's final report, released last month, said Trump should face criminal charges for inciting the deadly riot.

Anderson Torres, Bolsonaro's justice minister from 2021 to 2022, took a job as Brasilia security chief after leftist President Luiz Inacio Lula da Silva took office on Jan. 1. "This was a structured sabotage operation, commanded by Bolsonaro's ex-minister Anderson Torres," Ricardo Cappelli, the official leading a post-invasion federal intervention into Brasilia's public security, told CNN Brasil. "Torres took over as secretary for security (in Brasilia), dismissed the whole chain of command and then took a trip. The shakeup of capital security highlights a wider challenge facing Lula, whose new government must now deal with a sweeping criminal investigation of the Brasilia riots while establishing a fresh chain of command among police and security forces. For example, the appointment of Torres, 47, at the Justice Ministry followed years of friendly relations with Bolsonaro's family.

The party-line vote on Tuesday aims to do just that, setting up a "Select Subcommittee on the Weaponization of the Federal Government." The body is set to launch a wide-ranging probe of Democrat Biden's administration, which Republicans accuse of "weaponizing" the FBI against Trump. Among the federal agencies targeted are those looking into Trump's attempt to overturn his 2020 defeat and alleged mishandling of classified documents. On Monday the White House said that lawyers for Biden found classified documents at a Washington think tank affiliated with the president. That would create a situation where he could seek to oversee a federal investigation into himself.

☆ Fact Check-Photograph of man likened to ‘QAnon Shaman’ not related to Jan. 8 riots in Brazil
▼ + stars: | 2023-01-10 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

But the image dates from 2021 and is not related to the attack on Brazil’s state institutions in early 2023. In September 2021, Angeli pleaded guilty to obstructing an official proceeding during the riots for which he received a prison sentence of 41 months (here). One of the posts, which features side by side photos of Angeli and the Brazilian protester, reads, “You know Brazil went FULL Jan 6 when they brought their own shaman” (here), (here). The image of the Brazilian man was taken by photographer Guilherme Gandolfi at a demonstration in Sao Paulo. The photograph of a man in Brazil likened to the “QAnon Shaman” dates from 2021 and is not related to the Jan. 8 attack on Brazil’s state institutions.

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 Petrobras to cut natural gas prices by 11.1%
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: 1 min

Companies Petroleo Brasileiro SA Petrobras FollowSAO PAULO, Jan 10 (Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) will cut natural gas prices by an average 11.1% starting Feb. 1, it said on Tuesday on its website. Petroleo Brasileiro SA, as the company is formally known, updates natural gas prices on a quarterly basis, pegging them to international oil prices and foreign exchange rates. Reporting by Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

Parafin, launched in 2020, works with so-called platform partners, or companies that other small businesses sell their products through. All the cofounders knew was that they wanted to build technology that would help small businesses. And they may not get their first contract payment from the government for as long as 120 days," Reed, the startup's CEO, told Insider. Helping small businesses manage their taxesComplYant's founder Shiloh Jackson wants to help people be present in their bookkeeping. HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.

☆ Side-by-side photos of Bolsonaro supporters storming Brazil's Congress demonstrates a stunning parallel to Trump supporters descending upon the Capitol on January 6
▼ + stars: | 2023-01-10 | by ( Lauren Frias | ) www.businessinsider.com time to read: 1 min

Though the riots at Brazil's capital buildings mirrored the events at the US Capitol two years prior, the January 6 riots perhaps served as the muse for one pro-Bolsonaro protester, Julio Monteiro, during a right-wing rally in Sao Paolo, Brazil, in September of last year. A man takes part in a demonstration in support of Brazilian President Jair Bolsonaro in Sao Paulo, Brazil, on September 7, 2021, on Brazil's Independence Day. MIGUEL SCHINCARIOL/AFP via Getty Images

REUTERS/Adriano MachadoSAO PAULO/LONDON, Jan 9 (Reuters) - Brazilian equities were higher in choppy trade on Monday, a day after thousands of supporters of former President Jair Bolsonaro stormed government buildings in the capital, echoing the Jan. 6, 2021, insurrection in Washington. On Friday, both had performed better after Lula said the economy may grow while government finances are kept in check. On Monday hundreds of Brazilian police in riot gear and some on horseback amassed at an encampment of Bolsonaro supporters near Brasilia's army headquarters. "I think the situation will quickly normalize," said Cristian Maggio, head of portfolio strategy at TD Securities in London. "Yet, it is an event worth keeping an eye on, as it may not be fully over just yet."

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