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Brazil's 1992 Earth Summit in Rio de Janeiro set the stage for all major international environmental agreements since, with the signing of U.N. Framework Convention on Climate Change, which is aimed at preventing extreme climate change and was the foundation of the COP meetings. He said Lula would turn around Brazil's environmental policies "180 degrees" from those of Bolsonaro. Lula won office last month over Bolsonaro, who appointed climate skeptics as ministers and saw deforestation in Brazil's Amazon rainforest spike to a 15-year high. On Thursday, Lula will meet with civil society and indigenous groups, as well as United Nations Secretary General Antonio Guterres.

☆ Brazil's Embraer narrows Q3 net loss, sees deliveries at lower end of outlook
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 14 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) on Monday reported a narrower third quarter net loss and boosted its free cash flow outlook for the full year, but acknowledged that annual deliveries were likely to stay at the lower end of its forecast. Embraer posted a quarterly adjusted net loss of 93.8 million reais ($17.62 million), narrower than the 179.7 million-real loss a year ago despite net revenue dropping 3% to 4.87 billion reais. The company increased its free cash flow outlook for the full year to $150 million or more from a previous estimate of $50 million or more, saying results so far have outperformed initial expectations. Santander analysts said the results missed their projections, but the reaffirmed delivery outlook was positive given the risks from supply chain issues. ($1 = 5.3250 reais)Reporting by Gabriel Araujo; Editing by Steven Grattan, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Alibaba's Cainiao opens LatAm headquarters in Brazil
▼ + stars: | 2022-11-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Alibaba's logistics arm Cainiao has installed lockers in Brazil for local customers to retrieve packages. CainiaoBEIJING — Alibaba' s logistics arm Cainiao announced Monday the opening of its Latin American headquarters in Sao Paulo, Brazil. Cainiao ships most AliExpress orders from China to Brazil, the company said, claiming it operates eight charter flights a week between the countries. Low-cost drones and bluetooth headphones are among the most popular products for local customers, the company said. Alibaba's logistics arm Cainiao has installed lockers in Brazil for local customers to retrieve packages.

☆ Buffett-backed Nubank's revenue surges on robust customer growth
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

Nov 14 (Reuters) - Nu Holdings Ltd (NUN.MX) posted a near three-fold jump in third-quarter revenue on Monday, as the Warren Buffett-backed digital banking firm saw rapid customer growth in its key domestic Latin American market. "Our customer base grew to over 70 million with a record high activity rate of 82%," said founder and Chief Executive David Vélez in a statement. Total revenue of the company, popularly known as Nubank, surged 171% to a record $1.3 billion on a FX-neutral basis for the quarter ended Sept 30. On a FX-neutral basis, gross profit climbed 90% to a record high of $427 million in the reported quarter. Nubank's customers grew by 5.1 million in the quarter, or 46%, over last year, to 70.4 million in Brazil, Mexico and Colombia.

☆ George Russell wins maiden Grand Prix after collision-ridden race in Brazil
▼ + stars: | 2022-11-13 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —George Russell won his maiden Grand Prix on Sunday after a collision-ridden race in Brazil. With one race left on the 2022 calendar, Russell moves up to fourth in the driver’s standings, a place ahead of eight-time world champion and teammate Hamilton. Russell celebrates after winning the Sao Paolo Grand Prix. Verstappen and Hamilton collide during the Sao Paolo Grand Prix. Even with a late safety car bunching the pack up, Russell was faster than his more experienced teammate Hamilton, racing home for his first ever Grand Prix victory.

☆ Unhappy Perez says Verstappen showed "who he really is"
▼ + stars: | 2022-11-13 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

Nov 13 (Reuters) - Red Bull's Sergio Perez said team mate Max Verstappen showed "who he really is" after the double Formula One world champion refused to give back a place in Sunday's Sao Paulo Grand Prix. The radio comment came after the Mexican let Verstappen overtake on the understanding that the position would be returned if the Dutch driver could not pass Alpine's Fernando Alonso for fifth place. Perez needs every point to beat Ferrari's Charles Leclerc to overall runner-up while Verstappen has already clinched the title. Perez and Leclerc are now tied on 290 points, with Leclerc ahead 3-2 on race wins. Verstappen, who had been penalised for a collision with Mercedes's Lewis Hamilton, was told by his engineer Gianpiero Lambiase to let Perez through at the finish but ignored it and took sixth, with Perez seventh.

☆ Ocon fastest in final Sao Paulo GP practice
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Nov 12 (Reuters) - Alpine's Esteban Ocon lapped fastest in the second and final practice session ahead of a sprint race at the Sao Paulo Grand Prix on Saturday. Qualifying for the 100km sprint race, which decides the starting grid for Sunday's main event, was on Friday with Haas' Kevin Magnussen taking a surprise first pole position in a weather-affected session. read moreMagnussen was ninth fastest in the practice hour, with German team mate Mick Schumacher eighth. Sargeant, 21, will race for Williams next year as replacement for Canadian Nicholas Latifi providing he secures his super-licence. Reporting by Alan Baldwin in London, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ Haas to announce Mick Schumacher's F1 fate next week
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 12 (Reuters) - Haas will announce next week whether Mick Schumacher is staying or going, the Formula One team's boss Guenther Steiner said on Saturday. The German's predicament was not helped by qualifying for Saturday's Sao Paulo Grand Prix sprint race when he ended up last while team mate Kevin Magnussen took a surprise pole position. "Expect the announcement some time next week," Steiner told reporters, amid increasing speculation the team's decision has been made. It will be coming next week," said Steiner. The first two runs were very good but then with the dry tyres he just couldn't get the feeling," he said.

☆ Alpine and McLaren agree a settlement on Piastri
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 12 (Reuters) - Australian Oscar Piastri will drive for McLaren in Formula One's Abu Dhabi post-season test after the team reached an agreement with Renault-owned Alpine to release him, both sides said on Saturday. French driver Pierre Gasly will also be freed by Red Bull-owned AlphaTauri to test with Alpine, the team he is joining for 2023. McLaren announced in September that 21-year-old Piastri, Alpine's reserve this year, had signed for 2023 as a replacement for compatriot Daniel Ricciardo after winning a contract dispute. He said Piastri would start working officially with McLaren on Nov. 21 and test the current car at Yas Marina. Seidl said getting Piastri in the car for the Abu Dhabi test was important.

☆ Bigger loans help Brazil bank Itau's earnings outclass peers
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Latin America's largest bank reported a third-quarter recurring net income of 8.08 billion reais ($1.51 billion), landing just below the 8.11 billion reais estimate of analysts polled by Refinitiv. Itau hiked its provisions for bad loans by nearly 50% to 8.27 billion reais, though unlike its peers, it did not raise its 2022 forecast for loan-loss provisions. The size of its loan book surged 15.5% year-on-year to reach 1.11 trillion reais, fueled by more personal loans. The company also reported higher income from interest it earned on customer debt. Its customer net interest income (NII) jumped 33% from a year earlier to reach 23.38 billion reais.

☆ Perez fastest in Sao Paulo GP practice
▼ + stars: | 2022-11-11 | by ( Gabriel Araujo | ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 11 (Reuters) - Red Bull's Sergio Perez lapped fastest in first free practice for the Sao Paulo Formula One Grand Prix at Interlagos on Friday with the top three drivers separated by just 0.008 of a second. Double world champion Max Verstappen, Perez's team mate, was a further 0.004 adrift. Red Bull are chasing their 10th win in a row this weekend while Verstappen is seeking a record-extending 15th win of the season. Four-times world champion Sebastian Vettel, heading for retirement after the final race in Abu Dhabi, lapped seventh fastest for Aston Martin and fellow-German Mick Schumacher was eighth for Haas. McLaren's Lando Norris, who cancelled his media engagements due to suspected food poisoning on Thursday, took part in the session and was 15th fastest.

☆ Brazil's Cosan swings to loss on higher debt costs
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

The conglomerate, which controls companies in sectors ranging from sugarcane to logistics, lost 202 million reais ($37.70 million) in the July to September period, compared with a 3.26 billion reais profit during the same months last year. During the quarter, Cosan reported cost of debt of 679.3 million reais, a more than 90% spike year-on-year, as Brazil's interest rate peaked at 13.75%, in addition to the issuance of roughly 8 billion reais in commercial notes. Weak figures from Raizen, a joint venture with Shell (SHEL.L) that produces ethanol and sugar, also dented Cosan's bottom line, reflecting consistent price declines for its products. The figure slightly exceeded analyst estimations polled by Refinitiv of 4.08 billion reais. ($1 = 5.3579 reais)Reporting by Peter Frontini; Editing by David Alire GarciaOur Standards: The Thomson Reuters Trust Principles.

☆ Magnussen's stunning pole is soup for Steiner
▼ + stars: | 2022-11-11 | by ( Alan Baldwin | Rory Carroll | ) www.reuters.com time to read: +3 min

Nov 11 (Reuters) - Haas team boss Guenther Steiner savoured a rare moment of success as his Formula One backmarkers pulled off an astonishing first pole position with Kevin Magnussen at the Sao Paulo Grand Prix on Friday. "When it rains soup, you need to have a spoon ready," the Italian told Sky Sports television. Last year, with Schumacher and Magnussen's now-departed Russian predecessor Nikita Mazepin, Haas failed to score a point all season and ended last. "You will always have nay-sayers but welcome to our pole position, nay-sayers," said Steiner in response to those who questioned what his men could achieve. It was starting to rain so that was the crucial part today, just getting that best track for me.

Trump in turn has blasted back, accusing the media without evidence of favoring DeSantis in a conspiracy to deny him the nomination. There is also an effort underway to get Trump to focus less on past grievances. In a Friday post on his Truth Social network, Trump called Youngkin "Young Kin" and said, "sounds Chinese, doesn’t it?" The day earlier, Trump posted a long harangue about DeSantis that again called him Ron "DeSanctimonious" and said he owes his political fortunes to Trump. Two Florida Republicans close to DeSantis predicted the governor would be wary of responding directly, keeping his focus on the state's recovery from Hurricane Ian and policy issues.

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.

☆ Magnussen takes stunning first F1 pole for Haas in Brazil
▼ + stars: | 2022-11-11 | by ( Gabriel Araujo | ) www.reuters.com time to read: +4 min

NO KIDDING"You're kidding," Magnussen had said over the team radio when told he was fastest as the red flags were waved. Saturday will be the third such race of the season, with Verstappen winning the two previous ones at Imola and in Austria. Seven-times world champion Hamilton suffered as a result of his team mate's spin and will start the sprint from eighth place. "I will speak to the team and understand what we can do better in those conditions," he said. "I accepted the decision to go on the inters and then I waited for the rain that never came."

☆ Brazil's Rumo profit soars on higher volumes, tariffs
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Nov 10 (Reuters) - Brazilian railroad operator Rumo SA (RAIL3.SA) reported on Thursday a six-fold jump in third-quarter profit, benefiting mainly from higher agribusiness cargo volumes in Brazil's Midwest plus higher tariffs. Rumo's net profit came in at 309 million reais, compared to gains of 51 million reais during the same period a year ago. Net revenues meanwhile totaled 2.95 billion reais, up by half versus the same three-month period last year, reflecting a nearly 24% rise in the volumes it transported, especially corn, and a 23% increase in tariffs. "Price dynamics for the second half of the year remain more favorable and freight prices showed an important correction throughout 2022," Rumo said in its quarterly report. Reporting by Aluisio AlvesOur Standards: The Thomson Reuters Trust Principles.

☆ Mercedes F1 team evaluating FTX sponsorship, branding stays for now
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Nov 10 (Reuters) - The Mercedes Formula One team said on Thursday they were keeping the branding of troubled cryptocurrency exchange FTX on their cars at this weekend's Sao Paulo Grand Prix in Brazil while watching developments. read moreMercedes, then the reigning Formula One champions, signed a sponsorship deal with FTX in September, 2021. A team spokesman said they were evaluating the situation and branding would be staying on the race cars of seven-times world champion Lewis Hamilton and fellow-Briton George Russell for the time being. The weekend's race at Interlagos is the penultimate round of the season, which finishes in Abu Dhabi on Nov. 20. Reporting by Alan Baldwin in London, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ Meatpacker JBS's plunging profit beats forecasts
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Nov 10 (Reuters) - Brazil's JBS SA (JBSS3.SA), the world's largest meat producer, on Thursday reported a quarterly profit that plunged 47.1%, nevertheless beating analysts' estimates as higher revenues helped offset rising costs. The company posted a third-quarter net profit of 4.01 billion reais ($745.35 million), while analysts polled by Refinitiv had expected it to land at 3.75 billion reais. ($1 = 5.3800 reais)Reporting by Nayara Figueiredo; Writing by Peter FrontiniOur Standards: The Thomson Reuters Trust Principles.

☆ Brazilian lender Itau's higher profits slightly miss forecasts on bad loan provisions
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Nov 10 (Reuters) - Brazilian lender Itau Unibanco SA (ITUB4.SA) on Thursday posted a 19% jump in recurring net profit, which nevertheless landed slightly below expectations as it raised provisions for bad loans amid soaring interest rates. Latin America's largest bank reported a third-quarter recurring net income of 8.08 billion reais ($1.51 billion). Analysts polled by Refinitiv had expected profit of 8.11 billion reais. Net interest income (NII) from its customers jumped 33% from a year earlier to reach 23.38 billion reais. Itau reported a 90-day default ratio of 2.8% at the end of September, rising above the previous quarter's 2.7% albeit at a much slower pace than its peers.

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.

☆ Brazil's Magazine Luiza swings to loss, hit by higher borrowing costs
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Nov 10 (Reuters) - Brazilian retailer Magazine Luiza SA (MGLU3.SA) reported on Thursday an adjusted net loss of 146 million reais ($27.4 million), the company's fourth straight quarterly loss as its bottom line suffered from higher interest rates. The company posted an adjusted net profit of 22.6 million reais during the year-ago period. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 50.3% year-on-year to 527.5 million reais. Magazine Luiza posted 2% sales growth to 14.15 billion reais. E-commerce sales rose 3% in the July-to-September period to 10 billion reais.

☆ 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.

Former NFL football star Herschel Walker trailed Democratic Senator Raphael Warnock in Georgia, as the two headed to a Dec. 6 run-off election. But Trump-backed Senate candidates J.D. The populist priorities of his "America First" agenda and his combative political style also helped shape the overall Republican campaign. Save America contributed close to $30 million to political allies and Republican Party accounts, including $20 million in October to a group that ran television ads supporting Republican Senate candidates in Georgia, Pennsylvania, Ohio, Arizona and Nevada. But Save America's contributions paled in comparison to spending by the Senate Leadership Fund, or SLF, a leading political action committee aligned with top Senate Republican Mitch McConnell.

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