DIRS.INFO The most relevant business & tech news

[1/2] A logo of Brazil's state-run Petrobras oil company is seen at its headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio MoraesSAO PAULO, May 18 (Reuters) - A decision by Brazil's environmental regulator to block state-owned oil company Petrobras' Amazon oil project has exposed tensions in President Luiz Inacio Lula da Silva's coalition between green advocates and those prioritizing economic development. Ibama, late on Wednesday, said it would block a request by state-run oil giant Petrobras (PETR4.SA) to drill at the Amazon mouth near Amapá, in a much-awaited decision that followed a technical recommendation by Ibama experts to reject the project. The decision by Ibama, which is overseen by Lula's environment minister, the globally recognized environmentalist Marina Silva, has riled some within the governing coalition. "We'll fight against this decision," Rodrigues wrote on Twitter, adding that "the people of Amapa want to have the right to be heard".

It is the 10th time she has boarded this first-of-its-kind project, known as the cultural center on wheels. "Its main purpose is to try to decentralize and make access to the arts more reachable", said the project's organizer, Anderson Mauricio. Paula Santos, young students, middle-aged commuters, a homeless man, all boarded the day Reuters visited. It couldn't be more beautiful," Paula Santos said. Reporting by Steven Grattan and Leonardo Benassatto in Sao Paulo; Editing by Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

The new pricing system scraps a so-called fuel import parity policy that more closely aligned prices at the pump with the oil market and exchange rates. In a research note, JPMorgan (JPM.N) described the reworked pricing policy as "more friendly than investors expected." The policy shift will be tested when oil prices rise, and apply upward pressure on what consumers can expect to pay for motor fuels or LPG. Petrobras' new pricing policy also came under criticism from some as too opaque. The previous pricing policy was adopted seven years ago by conservative former President Michel Temer.

☆ Brazil's Petrobras scraps fuel import parity policy, shares rise
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

Companies Petroleo Brasileiro SA Petrobras FollowRIO DE JANEIRO, May 16 (Reuters) - Brazil's state-run oil giant, Petrobras (PETR4.SA), has approved a new commercial strategy to set diesel and gasoline prices, it said on Tuesday, ditching its previous import parity policy without revealing a specific fresh pricing formula. "The end of pricing parity is not good, but this was already expected." "The new policy scraps the 'import parity' terminology, but in our view it has not changed materially," Credit Suisse analyst Regis Cardoso said. The import parity policy was adopted in 2016 by former President Michel Temer. People close to Lula celebrated the announcement, with his Mines and Energy minister, Alexandre Silveira, telling reporters the policy would not impose as much volatility as the import parity used to.

☆ Brazil's Americanas looking for buyer for stake in Grupo Uni.co
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, May 15 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA), which filed for bankruptcy earlier this year after an accounting scandal, said on Monday it has started the market sounding process to prospect parties interested in buying its stake in Grupo Uni.co. Americanas, which has the billionaire trio that founded 3G Capital as reference shareholders, said in a securities filing it had hired Citigroup (C.N) as financial advisor to conduct the process, launched as part of its reorganization plan. Reporting by Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

SAO PAULO, May 9 (Reuters) - Renowned Brazilian rock singer and songwriter Rita Lee, an icon of the Tropicalia artistic movement, died on Tuesday after a two-year battle with lung cancer, her family said. Her death brought an outpouring of tributes from artists, politicians and celebrities who cheered her trailblazing role in Brazilian rock. Rita Lee Jones de Carvalho was born on Dec. 31, 1947, in Sao Paulo, to a dentist of U.S. descent and a Brazilian pianist with Italian ancestry. Kicked out of Os Mutantes by Baptista, whom she had been married to, for supposed artistic differences, Lee played with the band Tutti Frutti in the 1970s. Rita Lee was diagnosed with lung cancer in 2021 and had been undergoing treatment since then.

☆ Salah on verge of becoming top-scoring Egyptian of all time
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Liverpool forward Mohamed Salah will become the highest scoring Egyptian of all time if he scores against Brentford in the Premier League at Anfield on Saturday. Salah has scored 185 times for Liverpool since joining the Merseyside club in 2017 and will catch former captain Steven Gerrard, the fifth-highest scorer in Liverpool history, with another goal. Egypt's 30-year-old skipper Salah is Liverpool's record Premier League scorer with 136 goals. Salah's other club goals came at AS Roma (34), Fiorentina (9), Chelsea (2), Basel (20) plus 12 for his childhood club Al-Mokawloon Al-Arab. Liverpool are fifth in the Premier League standings on 59 points, four behind fourth-placed Manchester United who have a game in hand in the race for Champions league places.

☆ South Africa Allowed Russian Plane Under U.S. Sanctions to Land at Base
▼ + stars: | 2023-05-04 | by ( Lynsey Chutel | John Eligon | ) www.nytimes.com time to read: +1 min

JOHANNESBURG — South African officials allowed a cargo plane targeted by U.S. sanctions for supporting Russia’s military efforts to land at an air force base near the capital, Pretoria, last week, a move that could further increase tensions with the United States. U.S. officials previously said the plane has been known to ship weapons for Russia’s defense forces. South Africa’s Department of Defense said in a statement on Wednesday that the plane had been delivering diplomatic mail for the Russian Embassy. South African officials have declined to say precisely what was loaded on to and taken off the plane. South Africa’s decision to let the aircraft land runs counter to American efforts to isolate Russia because of its invasion of Ukraine.

☆ Canada opens formal investigation into Imperial's oil sands tailings leak
▼ + stars: | 2023-05-04 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

CALGARY, Alberta, May 4 (Reuters) - Canada's federal environment ministry on Thursday opened a formal investigation into a months-long tailings leak at Imperial Oil's (IMO.TO) Kearl oil sands mine in northern Alberta, signalling a potential prosecution. Tailings, a toxic mining by-product containing water, silt, residual bitumen and metals, have been seeping from Imperial's site since last May, angering local Indigenous communities who hunt and fish on the lands downstream from Canada's oil sands mines. The company first discovered discolored water on its Kearl site in May 2022 and informed the AER and some local Indigenous communities, but failed to update those communities when testing showed the water contained tailings. Canada's Tourism Minister Randy Boissonnault, one of only two Liberals lawmakers in Alberta, said the Kearl leak and poor communication was "simply unacceptable". "It's unjust for Indigenous communities that are living downstream to have questions about their drinking water table and the health of the natural environment."

[1/2] Former Brazilian President Jair Bolsonaro leaves his home following a search operation, in Brasilia, Brazil, May 3, 2023. REUTERS/Adriano MachadoBRASILIA, May 3 (Reuters) - Brazilian police on Wednesday raided former President Jair Bolsonaro's home and seized his cell phone as part of an investigation into his COVID-19 vaccination records. The investigation may answer questions about how Bolsonaro, a strident coronavirus skeptic who vowed never to get a COVID vaccine, was registered as vaccinated in health records made public in February. Bolsonaro confirmed the raid on his home in Brasilia to journalists and reiterated that he had never taken a COVID vaccine. Police said they were investigating "false data" allegedly added to a national COVID-19 database between November 2021 and December 2022, when Bolsonaro was president.

☆ Brazil working on payment solution for exports to Argentina, says minister
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, May 2 (Reuters) - Brazilian Finance Minister Fernando Haddad said on Tuesday that the country is working on a solution to ensure that Brazilian exporters are paid for sales to Argentina, which is currently facing a severe economic crisis and a shortage of U.S. dollars. Argentina is Brazil's third largest trading partner after China and the United States. "We are trying to find a mediated solution," he said, adding that it "necessarily" involves the granting of collaterals by Argentina, which are being currently studied. Haddad will take part in a meeting between Brazilian President Luiz Inacio Lula da Silva and Argentine Alberto Fernandez later on Tuesday. Brazil also decided to recently simplify procedures of the local currency payment system (SML), an infrastructure that brings together the central banks of Brazil, Argentina, Paraguay and Uruguay.

☆ Cuervo tequila maker Becle narrows sales guidance after profit slump
▼ + stars: | 2023-04-28 | by ( Isabel Woodford | ) www.reuters.com time to read: +2 min

Becle, which produces the popular Jose Cuervo tequilas, now forecasts annual growth in the high single digits, down from a February guidance for "high single digits to low teens." Becle posted a nearly 10% slump in first-quarter net profit this week as price increases failed to cushion negative currency exchange effects, high inflation and supply chain issues in Latin America. Executives on Friday added it was too early to assess the impact of recent price increases in places like Mexico. In afternoon trading, Becle's share price was down nearly 5%. While the industry has struggled with extended shortages of glass, used to bottle spirits, Becle executives said these appeared to be easing and should have limited performance impact for the remainder of 2023.

☆ Exclusive: Prosecutors in Brazil state sue AngloGold Ashanti over dam safety
▼ + stars: | 2023-04-26 | by ( Marta Nogueira | ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, April 26 (Reuters) - Public prosecutors in the Brazilian state of Minas Gerais have filed a lawsuit against AngloGold Ashanti (ANGJ.J) seeking 50 million reais ($9.91 million) in damages after the gold mining company allegedly withheld expert advice from authorities indicating a lack of stability in one of its dams, according to a document seen by Reuters. The lawsuit also asks for several additional safety measures and says that "twice in 2022 the defendant had robust technical studies, prepared by specialized consultants hired by the company, which indicated the absence of stability in the dam" in Nova Lima and that it chose not to publish them. "(AngloGold Ashanti) simply concealed the fact that they existed and, after trying to convince the consulting firm to change its mind about the dam's stability, it decided to change the team in charge of the service," the lawsuit said. In a request for comment, AngloGold Ashanti said it has not discharged wastewater or effluents into the Queiroz dams since December 2022 and that production at the unit's plants has been halted since then, but did not detail the reasons for stopping the discharge of wastewater. ($1 = 5.0462 reais)Reporting by Marta Nogueira; Writing by Steven Grattan; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Jamaica cool on Charles' coronation as it eyes break with monarchy
▼ + stars: | 2023-04-26 | by ( Kate Chappell | ) www.reuters.com time to read: +7 min

The process to sever ties with the British monarchy is underway, following in the footsteps of another former Caribbean possession, Barbados. Maziki Thame, a political scientist at the University of the West Indies, agreed the coronation was of little significance. It gained independence in 1962 but retained the British monarch as head of state and stayed in the Commonwealth. Breaking ties with the monarchy is essential for Jamaica, said Steven Golding, president of the UNIIA-ACL, a Black nationalist organization founded in Jamaica by activist Marcus Garvey. "I'd like to hear what Charles has to say about the subjects in the Isle of Jamaica," she said.

☆ Soccer Salah proud to equal Fowler’s record in just six years
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

Salah, and Fowler, are three goals behind Steven Gerrard, the fifth-highest scorer in Liverpool's history, while Ian Rush leads the list with 346. Fowler is a legend for the club, so I’m proud to be equal with him after six seasons. Salah said seventh-placed Liverpool had struggled at the start of the 3-2 victory over Forest, who are battling to avoid relegation. "For the teams fighting to avoid relegation, these are life-or-death games and all games are difficult,” he added. With seven games remaining, Liverpool are six points away from the top four and still aspiring to qualify for the European competitions next season.

☆ Toyota to invest $338 mln in new hybrid, flex car in Brazil
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, April 19 (Reuters) - Toyota Motor Corp (7203.T) said on Wednesday it will invest 1.7 billion reais ($337.68 million) to manufacture a new hybrid, flex-fuel compact car in Brazil, which will run on both gasoline and ethanol in addition to its electric engine. Toyota's announcement came at an event attended by the firm's local head, Rafael Chang, and Sao Paulo Governor Tarcisio de Freitas. Part of the investment - roughly 1 billion reais - will come from tax credits Toyota had with the state. "Toyota believes in the Brazilian market and continues to invest in technology and innovation to meet consumer needs," Chang said. The car is set to be launched in Brazil in 2024 and sold in 22 Latin American countries, it added.

☆ Brazil new fiscal framework designed to 'last for long time' -official
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, April 19 (Reuters) - Brazil's Treasury Secretary Rogerio Ceron said on Wednesday that a new fiscal framework proposed by the government was designed to last for a long time, facing different economic and political cycles. "It is a sustainable path, unlike past solutions that had an expiration date," Ceron said in an interview with GloboNews, adding the framework puts an end to doubts about whether government spending would get "out of control". Ceron said that government simulations showed Brazil's downward debt trajectory starting as soon as 2026 under the new framework, depending on monetary easing. In the most pessimistic scenario, he added, debt would stabilize by 2029. Reporting by Eduardo Simoes; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ No date for coal phase out as G-7 environment ministers wrap meeting in Japan
▼ + stars: | 2023-04-16 | by ( ) www.cnbc.com time to read: +4 min

A smokestack stands behind piles of coal at the coal-fired Onyx Kraftwerk Farge power plant on March 10, 2022 near Bremen, Germany. Environment and energy ministers from G-7 countries wrapped two days of talks in northern Japan on Sunday without acting on Canada's push to set a timeline for phasing out coal-fired power plants. In a statement posted to Twitter Sunday, Guilbeault said he still welcomed the shared commitment between G7 countries to accelerate coal phaseout, but also called for greater urgency. Japan advocated instead for its own natural strategy that includes the use of what the country calls "clean coal," where the emissions are captured. A report released earlier this month by the Global Energy Monitor — a group that tracks global energy projects — found G-7 countries account for 15% of the world's operating coal capacity.

SAPPORO, Japan, April 14 (Reuters) - Canada is ready to become a reliable provider of critical minerals to its international allies including Japan, a senior official said, as the Group of Seven (G7) countries deem such minerals essential for climate goals and energy security. Canada has signed a joint action plan with the United States to advance secure supply chains for critical minerals. It has similar critical minerals cooperation agreements with Japan and the European Union. China dominates the market for critical minerals used to make electric vehicle batteries, central to developed nation goals to decarbonise, and Russia - which invaded Ukraine last year - is also a major player. "We have a lot of those critical minerals, we have almost all of them in Canada with a few exceptions.

☆ Brazilians offer fresh perks for BYD plant as Ford talks stall
▼ + stars: | 2023-04-13 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +2 min

REUTERS/Stephane MaheBRASILIA, April 13 (Reuters) - Brazilian officials are offering fresh incentives including land for Chinese manufacturer BYD to build an electric car plant in Bahia state amid stalled talks to take over a closed Ford plant, said three people familiar with discussions in Shanghai on Thursday. However, Brazilian officials on Thursday discussed an alternative site in Bahia where BYD could build a factory from scratch if the talks with Ford prove futile. Ford and BYD did not immediately respond to requests for comment. BYD made it clear they would have no issue setting up a new plant, the sources said. However, drawn out talks with Ford have stalled plans.

☆ Argentina monthly inflation seen hitting 8-month high 7.1% in March
▼ + stars: | 2023-04-12 | by ( Hernan Nessi | ) www.reuters.com time to read: +2 min

The median forecast came from 15 analysts polled by Reuters, with estimates ranging from 6.4% to a maximum 7.4% monthly rise. Reuters Graphics Reuters GraphicsAnalysts said the high inflation rate, expected to be just shy of a peak last July, was likely to persist as the government sought to spur grains sales by offering preferential exchange rates to soy exporters and other producers. Food rose slightly below overall inflation, Marini said. In February, Argentina registered monthly inflation of 6.6% and 12-month inflation of 102.5%, the highest in almost 32 years. "The first days of April show that this month's inflation is unlikely to fall below 6%," he said.

☆ Deforestation in Brazil's Amazon rises in March
▼ + stars: | 2023-04-07 | by ( Steven Grattan | ) www.reuters.com time to read: +2 min

SAO PAULO, April 7 (Reuters) - Deforestation in Brazil's Amazon rainforest rose 14% in March from the previous year, preliminary official data showed on Friday, highlighting the continued challenges for the new leftist government. President Luiz Inacio Lula da Silva took office on Jan. 1, pledging to end deforestation after years of surging deforestation under his predecessor Jair Bolsonaro, who slashed environmental protection efforts in the Amazon. Space research agency Inpe's data showed 356 square km (137 square miles) were cleared in the Brazil’s Amazon just last month. Washington announced at the beginning of the year it intended to contribute to Brazil's Amazon Fund, which supports conservation projects in the jungle region. Norway also pledged its support last month for Brazil's efforts to attract additional donor countries for the Amazon Fund.

☆ 6 Tips for Better Meetings
▼ + stars: | 2023-04-07 | by ( Alyson Krueger | ) www.nytimes.com time to read: 1 min

Steven G. Rogelberg, a professor at the University of North Carolina at Charlotte and the author “The Surprising Science of Meetings,” has thought a lot about meetings, good and bad. “I think for the longest time organizations just believed bad meetings were the cost of doing business and, therefore, there was no appetite to think about trying to solve it,” he said. “Leaders have finally started to say that we have to have a way to do this better.”Here are his top tips on how to meet better (or not at all). Have questions that need to be answered. If you have a question to answer, not only do you have to really think about why you are gathering, you’ll know if the meeting was successful: You’ll have an answer.

☆ Brazil's Lula mulls inflation target change as interest rates 'inexplicable'
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, April 6 (Reuters) - Brazilian President Luiz Inacio Lula da Silva on Thursday again criticized the country's interest rates, saying at a meeting with journalists that current lending costs were inexplicable and hinting at a potential change to inflation targets. "If the inflation target is wrong, change the target," Lula said, according to remarks broadcast by TV channel GloboNews. Brazil has an inflation target of 3.25% for this year, which will be lowered to 3% in 2024, but consumer prices reached 5.6% in the 12 months through February. Benchmark interest rates stand at a six-year high of 13.75%. Reporting by Eduardo Simoes and Pedro Fonseca; Writing by Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Peru set to jail third ex-president as Toledo awaits extradition from U.S.
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

Peru's Justice Minister Jose Tello said on Wednesday night that a California court judge had ordered Toledo to turn himself in on Friday to the U.S. Marshals Service and await extradition after his request for bail was revoked. "Sooner rather than later, Toledo will answer to Peruvian justice," Tello told television station Canal N, adding that his extradition should take place in a "matter of days". The Peruvian minister said 77-year-old Toledo is expected to be held while he awaits trial in a jail complex in the outskirts of Lima that was built to hold former president Alberto Fujimori. Toledo was arrested in the U.S. in July 2019 following a formal request by Peru for his extradition.

Search resuls for: "Steven G"

25 mentions found