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

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

The approvals could reshape global trade flows and result in fewer sales for farmers in the United States, the world's top corn supplier. China relied on the United States and Ukraine for most of its corn supplies but Russia's invasion of Ukraine has disrupted exports. He said in an interview the list of approved Brazilian facilities that can export corn to China may be updated to include more units in coming weeks. Once China starts buying corn from Brazil, traditional Brazilian corn importers such as Spain and Egypt could shift some of their purchases to the United States. Beijing and Brasilia had signed a protocol for exporting corn from Brazil to China in 2014 but little trade had happened due to complex inspection requirements.

[1/4] Supporters of Brazil's President Jair Bolsonaro hold a protest against President-elect Luiz Inacio Lula da Silva who won a third term following the presidential election run-off, at Urban Military Sector in Brasilia, Brazil, November 2, 2022. Bolsonaro has not officially acknowledged the result, though his cabinet has initiated a transition, with Lula set to take over the presidency on Jan. 1. Bolsonaro's supporters in Sao Paulo and Rio de Janeiro led festive rallies on Wednesday, carrying Brazil's yellow-and-green flag draped over their shoulders, blowing horns and chanting anti-Lula slogans. Lula, by contrast, was jailed in the 1970s for protesting against the military government. Reporting by Brian Ellsworth in Sao Paulo and Rodrigo Viga Gaier in Rio de Janeiro, additional reporting by Lisandra Paraguassu in Sao Paulo and Anthony Boadle in Brasilia, Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Bolsonaro urges protesters to lift road blockades
▼ + stars: | 2022-11-02 | by ( Ana Mano | ) www.reuters.com time to read: +3 min

SAO PAULO, Nov 2 (Reuters) - Brazilian President Jair Bolsonaro for the first time on Wednesday asked protesters blocking roads nationwide to lift blockades as demonstrations are restricting people's right to come and go and bringing losses to the economy. In a video posted on social media, Bolsonaro said he understood people's frustration at the result of the election. The president said blocking roads make the ongoing protests illegitimate. Bolsonaro added the Federal Highway Police (PRF) had mobilized to help dispel protesters and clear roads. In remarks on Tuesday, the Brazilian president said the protests resulted from "indignation and a sense of injustice" over the vote.

The video, which was posted to Twitter, shows a crowd of people, some carrying and others draped in the Brazilian flag, with many apparently performing a Nazi salute as the Brazilian national anthem plays. It’s unclear who posted the video and CNN has not been able to verify its authenticity. Nazi incitement is a crime in Brazil. Brazilian authorities will investigate the video. @CentralEleicoes/TwiiterA Brazilian Jewish organization, the Brazilian Israeli Confederation, released a statement condemning the image as “disgusting.”“Brazilian society cannot tolerate gestures like this.

☆ 'He is our phoenix': In Brazil, newly elected Lula has seen ups and downs
▼ + stars: | 2022-11-01 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

Da Silva’s mother was left alone to raise eight children, of whom Lula was the youngest. He told The Associated Press he saw da Silva’s face light up with each colorful envelope he delivered. “God willing, one day we will publish (the letters),” da Silva said at a rally in September. After 580 days’ imprisonment, da Silva was a free man — free to marry his girlfriend, and free to run for the presidency. Ultimately, it came down to the wire: Da Silva was elected with 50.9% of the vote.

☆ Brazil President Jair Bolsonaro Pledges to Respect Constitution After Election Loss
▼ + stars: | 2022-11-01 | by ( Samantha Pearson | Luciana Magalhaes | ) www.wsj.com time to read: 1 min

SÃO PAULO—Brazil’s President Jair Bolsonaro on Tuesday vowed to respect the constitution after he lost the presidential election to Luiz Inácio Lula da Silva , ending a tense silence of 45 hours in which he had refused to acknowledge the results even as his allies urged him to do so. Mr. Bolsonaro didn’t comment on his loss in Sunday’s runoff vote in a press conference in Brasília, the capital. His chief of staff, Ciro Nogueira, flanking Mr. Bolsonaro in the briefing, told reporters that the president had authorized him to begin the transition process that would end with Mr. da Silva’s inauguration on Jan. 1.

REUTERS/Roosevelt CassioSAO PAULO/BRASILIA, Nov 1 (Reuters) - Brazil's Supreme Court on Tuesday ordered police to remove scores of roadblocks set up by supporters of President Jair Bolsonaro to protest his defeat in the presidential election, while the far-right leader remained silent on the result. Some truckers posted videos calling for a military coup to stop Lula, a leftist who served as Brazil's president from 2003 to 2010, from taking office. Bolsonaro remained silent more than 36 hours after his defeat and has neither conceded the race nor called the president-elect. The main access road to Sao Paulo's Guarulhos international airport, the busiest in the country, also was blocked. Although Bolsonaro has remained silent on his election loss, his political allies and associates have already begun to establish contact with the Lula camp to discuss a transition.

☆ Main road to Brazil's Paranagua port, major grain export hub, still blocked
▼ + stars: | 2022-11-01 | by ( Ana Mano | ) www.reuters.com time to read: +2 min

REUTERS/Ricardo MoraesSAO PAULO, Nov 1 (Reuters) - The main access road to Brazil's Paranagua port, the country's second busiest for grain exports, remained blocked by political protesters on Tuesday, according to a statement from the port authority, hobbling shipping from one of the world's top food producers. Farm states like Santa Catarina, where many meatpackers operate, and Mato Grosso, Brazil's biggest grain producer, were among the most affected by the protests that started after polls closed on Sunday, police data showed. The port authority at Santos, Latin America's biggest port, said things were normal as protests had not disrupted its terrestrial operations, according to a statement sent to Reuters. Yet due to bad weather, navigation in the port's estuary has been suspended since 4:00 a.m. (0700 GMT), the statement said. Reporting by Ana Mano Editing by Alistair BellOur Standards: The Thomson Reuters Trust Principles.

SAO PAULO, Nov 1 (Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva will participate in this month's COP27 United Nations climate summit in Egypt, the head of his political party said on Tuesday. He defeated President Jair Bolsonaro, a right-wing nationalist who has overseen rising deforestation and appointed climate change skeptics as ministers. Gleisi Hoffman, the head of Lula's Workers Party, on Tuesday confirmed he would attend COP27. Egypt's President Abdel Fattah al-Sisi also invited Lula to attend the summit in a message congratulating him on his election victory. "I have absolute certainty that...various national representatives will request to meet with President Lula," Teixeira said, adding that she was being directly consulted on the matter.

☆ Brazil's 2021 climate emissions highest since 2006, report says
▼ + stars: | 2022-11-01 | by ( Steven Grattan | ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 1 (Reuters) - Brazil's greenhouse gas emissions rose more than 12% in 2021 largely due to surging deforestation in the Amazon rainforest under far-right President Jair Bolsonaro, a non-profit report said on Tuesday. read moreThe increase in emissions was the biggest since 2006, according to the so-called SEEG emissions monitoring project sponsored by the Climate Observatory environmental advocacy group. Data shows that last year the country emitted 2.42 billion tonnes of carbon dioxide equivalent (CO2e), up from 2.16 billion tonnes in 2020. The report puts Brazil off-track to meet its 2025 and 2030 climate goals, just as the world is set to discuss climate commitments at the United Nations COP27 climate summit in Egypt next week. Lula plans to send representatives to the meeting, despite Bolsonaro continuing to lead the country until Jan. 1.

☆ Bolsonaro supporters blockade Brazil's roads after he lost the election, demanding the result be overturned
▼ + stars: | 2022-11-01 | by ( Kit Gillet | ) www.businessinsider.com time to read: +2 min

220 highway were blockaded as of Tuesday morning, federal highway police told The New York Times. On Tuesday, Bolsonaro supporters partially blocked the highway leading to the Brazil's largest airport in São Paulo, forcing the cancellation of at least two dozen flights, according to The New York Times. Bolsonaro lost Sunday's presidential election to former president Luiz Inácio Lula da Silva in a remarkably close race. Da Silva, also known as Lula, received 50.83% of the votes, compared to Bolsonaro's 49.17%. For months, Bolsonaro pushed baseless claims that the election, which many observers expected him to lose, was being tainted by fraud.

☆ Bolsonaro declines to concede Brazil defeat in first address since losing election
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: +3 min

But afterward, Chief-of-Staff Ciro Nogueira told reporters that Bolsonaro has authorized him to begin the transition process. Bolsonaro's address didn't mention election results, but he said he will continue to follow the rules of the nation's constitution. Bolsonaro lost Sunday's race by a thin margin, garnering 49.1% of the vote to da Silva's 50.9%, according to the nation's electoral authority. That has led many political analysts to warn that Bolsonaro appeared to be laying the groundwork to reject election results. Earlier Tuesday, Brazil's Supreme Court ordered the federal highway police to immediately clear the roads.

☆ Lula's running mate Alckmin to manage Brazil's government transition
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Nov 1 (Reuters) - Brazil's Vice President-elect Geraldo Alckmin will coordinate the transition to the future government led by Luiz Inacio Lula da Silva and is aiming to start it on Thursday, the head of Lula's Workers Party, Gleisi Hoffmann, said on Tuesday. She said she will speak again about the transition with Ciro Nogueira, chief of staff to outgoing President Jair Bolsonaro, who has yet to concede defeat after losing Sunday's tight race to Lula. The president-elect will take office on Jan. 1. Reporting by Lisandra Paraguassu; Writing by Peter Frontini; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

The outcome of Brazil's presidential election Sunday is being hailed as a crucial victory for global climate, with experts saying the country now has an opportunity to curb rampant deforestation of the Amazon rainforest and jump-start a green economy. The 77-year-old has vowed to fight Amazon deforestation and crack down on illegal gold miners, loggers and ranchers who have invaded indigenous land and caused widespread environmental destruction. “Brazil is ready to retake its leadership in the fight against the climate crisis,” Lula said in a victory speech in Sao Paulo, according to Reuters. The vast Amazon rainforest plays a critical role as a carbon sink, absorbing carbon dioxide from the atmosphere and releasing oxygen. The findings added new urgency to restore balance to the Amazon and avert the worst consequences of climate change.

[1/2] Brazil's former President and presidential candidate Luiz Inacio Lula da Silva and Sao Paulo Governor candidate Fernando Haddad react at an election night gathering on the day of the Brazilian presidential election run-off, in Sao Paulo, Brazil, October 30, 2022. Defeated President Jair Bolsonaro had not made public remarks more than 17 hours after the race was called. Some of his key allies have recognized publicly that Lula had won the race, easing concerns of contested election results. "There will be no transition problem, even if Bolsonaro reacts badly, most of his allies have already recognized Lula's victory". Francisco Levy, chief strategist at Empiricus Investimentos, said a favorable international reaction to Lula may help markets on the short term.

☆ Brazil’s President-Elect ‘Lula’ Promises Prosperity but Faces Economic Perils
▼ + stars: | 2022-10-31 | by ( Samantha Pearson | Luciana Magalhaes | ) www.wsj.com time to read: 1 min

SÃO PAULO—Luiz Inácio Lula da Silva evoked fond memories of his heady two terms in office in the 2000s when commodity prices were soaring, poverty was plunging and Brazil was optimistically seen as a country of the future. “The people will eat steak and drink beer again…they will be happy again,” Mr. da Silva told supporters in the campaign that ended with Sunday’s victory over President Jair Bolsonaro , who has yet to concede or comment on the results.

☆ Brazil’s President-Elect Promises Prosperity but Faces Economic Perils
▼ + stars: | 2022-10-31 | by ( Samantha Pearson | Luciana Magalhaes | ) www.wsj.com time to read: 1 min

SÃO PAULO—Voters who swept Luiz Inácio Lula da Silva back into the presidency Sunday fondly recall his last heady two terms in office in the 2000s when commodity prices were soaring, poverty was plunging and Brazil was finally seen as the country of the future. “The people will eat steak and drink beer again…they will be happy again,” Mr. da Silva told supporters in the campaign that ended with Sunday’s victory over President Jair Bolsonaro , who has yet to concede or comment on the results.

☆ Brazilian President Remains Silent a Day After Losing Election
▼ + stars: | 2022-10-31 | by ( Juan Forero | Luciana Magalhaes | ) www.wsj.com time to read: 1 min

President-elect Luiz Inácio Lula da Silva celebrated with supporters in São Paulo on Sunday after being declared the winner. SÃO PAULO—A day after Luiz Inácio Lula da Silva was declared the winner of Sunday’s election in Brazil, global leaders have congratulated the president-elect on his victory—from the U.S. and India to Russia and China. One was still missing: Brazilian President Jair Bolsonaro .

☆ Lula promises to unite a divided Brazil, seek fair global trade
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Oct 30 (Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva on Sunday promised to unite a divided country in a speech after defeating incumbent Jair Bolsonaro in a runoff presidential vote. Lula also invited international cooperation to preserve the Amazon rainforest and said he will seek fair global trade rather than trade deals that "condemn our country to be an eternal exporter of raw materials." Reporting by Lisandra ParaguassuOur Standards: The Thomson Reuters Trust Principles.

☆ Latin America's 'pink tide' leaders congratulate Brazil's Lula on election win
▼ + stars: | 2022-10-31 | by ( Steven Grattan | ) www.reuters.com time to read: +1 min

SAO PAULO, Oct 30 (Reuters) - Latin America leaders on Sunday congratulated Brazil's Luiz Ignacio Lula da Silva after he won a third term as president of the largest country in South America, consolidating the region's "pink tide" of elected leftist leaders. His victory over far-right president Jair Bolsonaro leaves Brazil joining Colombia, Mexico, Argentina, Chile and Peru in a growing leftist bloc. "Long live Lula," tweeted Colombia's Gustavo Petro, who in June was elected his country's first leftist president. But the pink tide returned as rampant inflation and the impact of the COVID-19 pandemic led frustrated voters in Latin America to ditch mainstream parties and follow promises of greater social spending. "Your victory strengthens democracy and integration in Latin America."

☆ Bolsonaro expected to end silence and speak about Brazil election
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Oct 31 (Reuters) - More than 20 hours after losing the election to his fierce leftist adversary, Brazil's far-right President Jair Bolsonaro has yet to say one word publicly, but he is expected to break his silence on Monday afternoon. Bolsonaro's unusual silence raised concerns that he was planning to contest the narrow victory by former President Luiz Inacio Lula da Silva in Sunday's runoff vote. International election observers and diplomats said they did not doubt that Brazil's democratic institutions will prevail. Time is running out to dispute the election result as many international leaders, political allies and high-profile supporters have already recognized Lula's victory. Reporting by Anthony Boadle and Ricardo Brito; Editing by Josie Kao and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

SAO PAULO/BRASILIA, Oct 31 (Reuters) - Brazilian leftist leader Luiz Inacio Lula da Silva narrowly defeated President Jair Bolsonaro in a runoff election, but the far right incumbent did not concede defeat on Sunday night, raising concerns that he might contest the result. The Supreme Electoral Court (TSE) declared Lula the next president, with 50.9% of votes against 49.1% for Bolsonaro. It was a stunning comeback for the leftist former president and a punishing blow to Bolsonaro, the first Brazilian incumbent to lose a presidential election. [1/6] Brazil's former President and presidential candidate Luiz Inacio Lula da Silva reacts at an election night gathering on the day of the Brazilian presidential election run-off, in Sao Paulo, Brazil, October 30, 2022. "A former union leader born into poverty, Lula organized strikes against Brazil's military government in the 1970s.

☆ Brazil leftist Lula wins third presidential term to redeem tarnished legacy
▼ + stars: | 2022-10-31 | by ( Anthony Boadle | ) www.reuters.com time to read: +4 min

His policies lifted millions from extreme poverty, expanded access to education and healthcare, and reduced Brazil's deep social inequalities during years of robust growth driven by a global commodities boom. GLOBAL PRESTIGEHis presidency also reinvigorated Brazil's oil and ship-building industries, while its economy rose to sixth-largest in the world. Brazil's global prestige hit new levels as it was chosen to host the Olympics and soccer World Cup. However, Lula's legacy was tarnished amid revelations of a vast kickback scheme on public contracts, benefiting leaders from major political parties, including his own. A heavy smoker for years, Lula was treated with chemotherapy for throat cancer in 2011, deepening his gruff baritone.

Most speculation has focused on who will be his finance minister, which will be a major signal to investors of his commitment to fiscal discipline. If Lula has settled on his pick, he has not yet told even his closes aides. "He banned any talk of this because in a tight election, anticipating names could have a negative impact," said a senior member of Lula's Workers Party who requested anonymity. Meirelles was finance minister in the government that replaced impeached President Dilma Rousseff in 2016, drawing lasting ire from some in the Workers Party. She would be a strong pick for agriculture minister, sources said, as she comes from farm state Mato Grosso do Sul, although she has said publicly she would rather be education minister.

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