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LISBON, April 6 (Reuters) - Portugal's government approved on Thursday the abolition of the scandal-hit immigration agency SEF, whose border force officers, uncertain about their future, have mooted industrial action during the usually busy Easter period. It was not immediately clear whether the strike will go ahead from Friday. Parliament approved SEF's abolition in November of the same year, but the process has been slow. There will be a transition period of six months, and SEF officers will help to train their replacements, the government said. Additional reporting by Patricia Rua, editing by Andrei Khalip and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

The economy gained a net 34,700 jobs, almost entirely in the private sector, and the unemployment rate held steady at 5.0%, Statistics Canada reported. Analysts surveyed by Reuters had forecast that a net 12,000 jobs would be gained in March and the unemployment rate would edge up to 5.1%. Since December, the jobless rate has stayed just a notch above the record low of 4.9% observed in mid-2022. Thursday's jobs figures as well as robust GDP data released last week are likely to complicate the central bank's plans to avoid further rate moves. There were 18,800 full-time jobs added in the month, and 15,900 part-time jobs.

BRASILIA, April 5 (Reuters) - A Supreme Court judge backed a government move to crack down on illegal gold mining in Brazil, suspending a legal practice of buyers accepting the origin of the precious metal with paper receipts based on the "good faith" of the seller. The injunction by Justice Gilmar Mendes gave the government 90 days to adopt a new regulatory framework for the gold trade to stop the sale of gold mined illegally from indigenous lands and other environmentally protected areas. The previous government of President Jair Bolsonaro eased environmental protections and encouraged wildcat mining in the Amazon rainforest. A surge in illegal mining on the Yanomami indigenous reservation caused disease and malnutrition that led the Lula government to declare a humanitarian crisis. The Brazilian Institute of Mining (Ibram), which represents gold mining companies such as AngloGold Ashanti Ltd (ANGJ.J) and Yamana Gold Inc (YRI.TO), as well as multinational giants such as Vale (VALE3.SA), Rio Tinto Ltd (RIO.AX) and BHP Group Ltd (BHP.AX), said 20% of Brazilian gold had no declared origin in 2021, citing data from the National Mining Agency.

Since then, critics say those schemes have come back to bite the economy by ramping up competition for scarce housing - fuelling inflation and piling pressure particularly onto young, local, entry-level workers. Rents in Lisbon have jumped 65% since 2015 and sale prices have sky-rocketed 137%, figures from Confidencial Imobiliario, which collects data on housing, show. Locals struggled to keep up in a country where public housing only represents 2% of the property market, according to government data. The average rent for a one-bedroom flat in Lisbon is around 1,350 euros, a study by housing portal Imovirtual showed. "If housing stays this expensive or gets worse, (foreign) people ... will start moving back to their own countries."

☆ Five Rules for Getting an ‘Investment Buzzcut’—Spring’s Hot Men’s Haircut
▼ + stars: | 2023-03-11 | by ( Wilbert Cooper | ) www.wsj.com time to read: +1 min

IN JANUARY, pop star Shawn Mendes shocked fans when he buzzed off his chocolatey mane. Some members of the Mendes Army even tweeted that they were “grieving” at having to bid farewell to the heartthrob’s dreamy waves. When The Wall Street Journal asked the 24-year-old to share his rationale behind the bare new look, he did not mention any particular image agenda. The stripped-back style suggests an emotional rawness, said Mike Martinez, creative director of Cutler Salon, which has branches in New York and Los Angeles. “When the sun finally comes out and we leave that winter hibernation, the buzzcut is there for those people looking for a new, cleaner look,” he said.

☆ A CEO bought the 'Princess Diaries' mansion his daughter loved. See inside the San Francisco villa they're now selling for $8.9 million.
▼ + stars: | 2023-03-10 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: 1 min

The seller, the former CEO of Just Desserts Michael Mendes, purchased the home in 2009. The entryway to the mansion Open HomesHe told the Wall Street Journal that his daughter, who was 7 at the time of the purchase, was a fan of the movie. "It was a bit unfortunate because we were trying to negotiate a good price," Mendes said.

☆ Bank of Canada and Fed head for historic divergence, in a blow to loonie
▼ + stars: | 2023-03-09 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

[1/2] A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. A lower expected peak for Canadian rates has pressured the Canadian dollar against its U.S. counterpart. ,Canadian rates have peaked below U.S. rates in the three major tightening cycles since the start of the millennium, with the gap ranging between 50 and 75 basis points. "Poring over the national accounts, it's increasingly clear that interest-sensitive demand has wilted in Canada," Warren Lovely and Taylor Schleich, strategists at National Bank of Canada, said in a note after the recent GDP data. Still, there could be a limit to how much interest-rate divergence the BoC will allow, say analysts.

☆ Bank of Canada seen leaving rates unchanged as growth stalls
▼ + stars: | 2023-03-08 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

[1/2] Bank of Canada Governor Tiff Macklem holds a news conference at the Bank of Canada, amid the coronavirus disease (COVID-19) outbreak, in Ottawa, Canada, June 22, 2020. "We expect the Bank of Canada to be the first G10 central bank to hold rates," said Jay Zhao-Murray, a forex analyst at Monex Canada. Money markets expect the policy rate to be left on hold on Wednesday but are pricing in another tightening by September. "Look for the Bank of Canada to point to slowing GDP growth and inflation when justifying its decision to maintain the level of rates," said Royce Mendes and Tiago Figueiredo, Desjardins economists, in a note. "The central bank is unlikely to do much to endorse the view that further rate hikes will be necessary," they said.

LONDON, March 6 (Reuters) - Two former JP Morgan credit bankers on Monday launched a new impact investment advisory firm focused on emerging market infrastructure, with a minority stake by British insurer Legal & General's (LGEN.L) alternative investments arm. The firm, ImpactA Global, aims to help address the World Bank's estimated need for $1 trillion in annual investment in emerging market infrastructure to meet development goals. Da Costa Mendes, a former JPMorgan executive director, shares the top job at ImpactA with co-founder Victoria Miles, who had served as a managing director of the Wall Street firm. ImpactA aims to bring in investors such as development finance institutions, export credit agencies and institutional asset managers to provide debt financing to these projects. ImpactA is among the very few investment firms focused solely on emerging market infrastructure debt, with a global rather than regional focus, she added.

☆ Mbappe beats PSG all-time scoring record as French champions extend lead
▼ + stars: | 2023-03-04 | by ( Julien Pretot | ) www.reuters.com time to read: +3 min

The 24-year-old Mbappe found the back of the net two minutes into stoppage time for his 201st goal in all competitions with PSG, improving the mark he shared with Edinson Cavani. The club organised a short ceremony after the final whistle, with a big portrait of Mbappe displayed at the Parc des Princes. "It's a privilege to be a PSG player, to play in this historic shirt, for the biggest club in France." PSG got off to a dream start as Messi opened the scoring in the 12th minute with a left-footed volley form Fabian Ruiz's cross. Earlier, RC Lens's Champions League hopes suffered another knock when they were held to a 1-1 home draw in the northern derby.

☆ Shawn Mendes on Pausing His World Tour and Why He Shaved His Head
▼ + stars: | 2023-02-20 | by ( Lane Florsheim | ) www.wsj.com time to read: 1 min

Celebrity haircuts aren’t typically breaking news, but then again most celebrities aren’t Shawn Mendes. Since his days of uploading pop covers to YouTube and Vine in the 2010s, he has become a global sensation, with four No. 1 spots on the Billboard 200 chart, three Grammy nominations and 71 million followers on Instagram. So when the musician debuted a closely cropped ’do in January, his fans wondered: What happened to his flowing curls?

The jobless rate held steady at 5%, which is just a decimal point higher than the record low, Statistics Canada (Statscan) said. Analysts surveyed by Reuters had forecast a net gain of 15,000 jobs and for the unemployment rate to edge up to 5.1% in January. "However, that won't stop markets reacting to today's strong data by pricing in a greater probability of further hikes, and pricing out rate cuts," he said. Before the jobs numbers, markets had been betting that the Bank of Canada's next move would be to cut rates. When he announced a pause on rates, Governor Tiff Macklem said it was "conditional" and did not rule out further increases.

☆ Ronaldo's Saudi switch another symbol of Chinese decline
▼ + stars: | 2023-01-29 | by ( Michael Church | ) www.reuters.com time to read: +3 min

The Portuguese striker's Saudi Arabia switch following the cancellation of his Manchester United contract has highlighted a shift within Asian football that started before the COVID-19 pandemic and which continues to have a significant impact. With money pouring into clubs often owned by debt-fuelled property developers, the Chinese Super League (CSL) had been enticing an increasing number of leading players and coaches to the country since early last decade. The downturn in Chinese football has spared few. Two-time Asian champions Guangzhou FC, once Chinese football's dominant force, went into decline after their owners, developers China Evergrande, were forced to limit funding after the government restricted borrowing. With attention now squarely focused on the oil-funded riches on offer in a newly assertive Saudi Arabia, Chinese football's lustre has all but disappeared.

[1/2] A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. "We are turning the corner on inflation," Bank of Canada Governor Tiff Macklem told reporters. If the economy evolves as forecast, the bank "expects to hold the policy rate at its current level while it assesses the impact of the cumulative interest rate increases," the statement announcing the rate hike said. "Governing Council is prepared to increase the policy rate further if needed to return inflation to the 2% target," the statement said. "The Bank of Canada is back to using forward guidance," said Royce Mendes, director and head of macro strategy at Desjardins.

☆ ‘In the Garden of the Righteous’ Review: Unsung Heroes of the Holocaust
▼ + stars: | 2023-01-23 | by ( Diane Cole | ) www.wsj.com time to read: 1 min

In June 1940, Aristides de Sousa Mendes, Portugal’s consul general in Bordeaux, France, watched from his office window as a stream of Jewish men, women and children flooded his sidewalk. Hitler’s army had conquered France with shocking speed, and the Jews, now made stateless by Nazi racial laws, were at the consulate to plead for transit visas to Portugal—and to freedom. Sousa Mendes wrestled with their desperate appeal. His prime minister, António de Oliveira Salazar, had ordered him to deny all such requests, trapping the refugees in place as targets for Nazi arrest and deportation to concentration camps. Sousa Mendes knew that the visas were their only chance of escape but knew also that defying Salazar would mean the end of his career and his ability to support his family of 15 children.

☆ Strong Canada retail sales forecast adds fodder to rate hike argument
▼ + stars: | 2023-01-20 | by ( Ismail Shakil | ) www.reuters.com time to read: +1 min

The November monthly sales decline was less than the 0.5% drop analysts expected. By volume, retail sales were down 0.4% in November from October, Statistics Canada said. "Ongoing economic momentum will likely prompt the Bank of Canada to raise rates another 25bps next week," Royce Mendes, head of macro strategy at Desjardins Group, said in a note. Money markets see a roughly 70% chance of a quarter-point hike by the Bank of Canada next week. Reporting by Ismail Shakil and Dale Smith in Ottawa Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ JPMorgan upgrades this under-the-radar Latin American airline, says it can rally 50%
▼ + stars: | 2023-01-13 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Copa 's stock could rally as air travel continues to rebound and industry-wide headwinds ease, according to JPMorgan. Analyst Guilherme Mendes upgraded the Latin American airline's stock to overweight from neutral. Mendes said Copa is attractive given its financials, specifically its debt-to-EBITDA ratio and liquidity. To be sure, Mendes noted factors like increased competition, weaker air travel recover than expected and re-elevated fuel prices could impact the stock's performance. Within the broader air travel sector, the analyst pointed to capacity increases and a 30% drop in jet fuel prices since October as evidence of an improving environment.

☆ 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.

☆ 'Glass Onion' star Dave Bautista has a clear goal for his acting career: 'I never wanted to be the next Rock'
▼ + stars: | 2023-01-04 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

I can force myself to do things that make me uncomfortable, because I know I'm not gonna get anywhere if I don't. "I'm afraid of things," Bautista said. And I just don't know if I want Drax to be my legacy—it's a silly performance, and I want to do more dramatic stuff." Whether leaving his most iconic character behind dings his marketability as a star or not, Bautista isn't concerned. "I don't care about the spotlight, I don't care about fame.

☆ Brazil prepares to bury Pelé in the city he made a soccer mecca
▼ + stars: | 2023-01-03 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

Forty-five years after Pelé played his last game, it’s hard to imagine modern soccer, or Brazil, without him. Pelé will be buried Tuesday in the city where he grew up, became famous, and helped make into a global capital of soccer. The coffin of Brazilian soccer great Pelé is carried Monday to the Vila Belmiro stadium in Santos, Brazil. He made soccer important for Brazil and he made Brazil important for the world,” he said. Pelé led Brazil to World Cup titles in 1958, 1962 and 1970 and remains one of the team’s all-time leading scorers with 77 goals.

OTTAWA, Dec 21 (Reuters) - Canada's annual inflation rate eased to 6.8% in November as gasoline price rose more slowly, data showed on Wednesday, leaving the door open for another interest rate increase in January. Consumer prices rose 0.1% from October, Statistics Canada said, above analysts' expectations they would be flat. Excluding food and energy, prices rose 5.4% versus a 5.3% gain in October. "Today's data will leave the door open to a 25 basis point rate hike in November," said Royce Mendes, head of macro strategy at Desjardins Group. Gasoline prices rose 13.7% after gaining 17.8% in October, largely driven by price declines in Western Canada, Statscan said.

☆ Canada October retail sales up 1.4% on gasoline, seen down 0.5% in November
▼ + stars: | 2022-12-20 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

October retail sales gained the most in five months, though it was a notch lower than the 1.5% rise forecast by analysts. September's decline was revised downward a decimal point to 0.6% from a previously reported drop of 0.5%, Statistics Canada said. October sales were driven mostly by price increases at gasoline stations and in food and beverage, Statistics Canada said. In volume terms, retail sales were flat. "Retail sales posted a solid increase in October, though the gain came from higher prices, particularly at gasoline stations," Shelly Kaushik, an economist at BMO Capital Markets, said in a note.

OTTAWA, Dec 8 (Reuters) - The Bank of Canada will study the most recent economic data to gauge whether to raise interest rates further, a deputy governor said on Thursday, adding it would still move forcefully if necessary. "We expect our decisions will be more data-dependent," Deputy Governor Sharon Kozicki said in a speech in Montreal, adding the bank was still prepared to be "forceful" with rates if necessary. "We are moving from how much to raise interest rates to whether to raise interest rates." Asked to clarify if being prepared to be "forceful" meant the bank was still prepared to make oversized rate moves, Kozicki said it was a hypothetical. Deliberations ahead of Wednesday's rate hike centered on how supply challenges are resolving, how higher rates are slowing demand, and how inflation and inflation expectations are evolving, Kozicki said.

The bank cited still-strong growth and tight labor markets as the reason for the latest increase. But it eliminated the forward guidance it has used since it began cranking rates higher in March, dropping language that said they would have to rise further. Money markets had bet on a 25-basis-point increase, but a slim majority of economists in a Reuters poll expected a 50-bps move. Overall, however, the central bank said that data supported its October forecast that growth would stall through the middle of next year. Additional reporting by Fergal Smith in Toronto, Editing by Sandra Maler, Kirsten Donovan and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ Bank of Canada set to hike rates, may signal it is near end of tightening cycle
▼ + stars: | 2022-12-07 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

"It's a close call but we're expecting a 50-basis-point rate hike from the Bank of Canada," Benjamin Reitzes, Canadian rates and macro strategist at BMO Capital Markets, said in a note. In October, the Bank of Canada forecast that economic growth would stall from the fourth quarter this year through the middle of next year. "Whether or not the Bank of Canada raises rates 25 or 50 basis points, there's a separate question about whether the Bank of Canada can or should really be committing to raise rates further in 2023," said Royce Mendes, head of macro strategy at Desjardins Group. The bank has been providing forward guidance that it "expects that the policy interest rate will need to rise further" since it began this tightening cycle. "At some point, the Bank of Canada is going to be in a position where it's appropriate to just let rates be for a while," Mendes said.

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