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☆ At least four children killed in pre-school axe attack in southern Brazil
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view shows forensic technicians, ambulances and policemen outside a pre-school after a 25-year-old man attacked children, killing several and injuring others, according to local police and hospital, in Blumenau, in the southern Brazilian state of Santa Catarina, Brazil April 5, 2023. REUTERS/Denner OvidioApril 5 (Reuters) - At least four children were killed and four other injured when a 25-year-old man armed with a small axe attacked a pre-school in the southern Brazilian state of Santa Catarina on Wednesday, local police and a hospital said. Police said the man responsible for the attack in the city of Blumenau has been arrested. The attack, dubbed by President Luiz Inacio Lula da Silva a "monstrosity," happened nearly a week after a 13-year-old student stabbed a teacher to death and wounded five others in a Sao Paulo school. Reporting by Fernando Cardoso in Sao Paulo, Rodrigo Viga Gaier in Rio de Janeiro; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil targets Asian e-commerce giants, local companies in tax push
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, April 3 (Reuters) - Brazil will soon unveil tax measures, including a crackdown targeting Asian e-commerce giants and curbs on some company tax benefits, as it looks to raise more than 100 billion reais ($20 billion), Finance Minister Fernando Haddad said on Monday. The e-commerce measures come in response to complaints from local retailers about unfair competition from Asian giants such as AliExpress, Shein, and Shopee. He later told journalists that combating the practice, which Haddad called "smuggling", should generate 7 billion reais to 8 billion reais in new revenue for the government. The most significant impact will come from the government's move to seek approval from the Federal Supreme Court to disallow companies from receiving tax breaks from states on operating expenses, which result in them paying less federal tax. The tax reform proposal should be voted in the Lower House by July and in the Senate by October, Haddad said.

☆ Bolsonaro lands back in Brazil to lead right-wing opposition
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ton MolinaBRASILIA, March 30 (Reuters) - Brazil's far-right former President Jair Bolsonaro returned from the United States on Thursday, welcomed back after three months by hundreds of chanting supporters at capital Brasilia's airport. Bolsonaro, who never conceded defeat in last year's election, is expected to lead the opposition to leftist President Luiz Inacio Lula da Silva, officials in Bolsonaro's PL party said. Supporters with Brazil flags draped around their shoulders sang the national anthem and chanted "legend" as they awaited Bolsonaro to exit the arrivals area, where security was tight. The Lula government is just doing everything wrong," said 45-year-old small business owner Anderson Clayton, wrapped in a Brazil flag. Bolsonaro left for the United States two days before he was due to hand over the presidential sash to Lula on Jan. 1.

BRASILIA, March 29 (Reuters) - The goal of Brazil's new fiscal framework will be a zero primary deficit in 2024, followed by surpluses in subsequent years, as President Luiz Inacio Lula da Silva seeks a sustainable trajectory for the country's public debt, government sources told Reuters on Wednesday. According to one of the sources, the primary surplus will be equivalent to 0.5% of GDP in 2024, rising to 1% of GDP in 2025. The new framework will combine a target for primary results with a spending rule and will have adjustment mechanisms in case of noncompliance. Sources spoke anonymously, as the topic is being addressed in private conversations with congressmen. Talking to reporters, Padilha said that the leaders of Brazil's Congress have indicated that, once submitted, the fiscal rules should be quickly approved.

☆ The Swiss claim the U.S. banking crisis ultimately toppled Credit Suisse. But are they right?
▼ + stars: | 2023-03-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Pascal Mora | Bloomberg | Getty Imageswatch nowHowever, the downward spiral of Credit Suisse's share price and mounting asset outflows were underway long before the collapse of Silicon Valley Bank earlier this month. Swiss regulator FINMA has come under fire for allowing the situation to deteriorate as the bank spent years mired in losses and scandal. Mark Yallop, chairman of the U.K.'s Financial Markets Standards Board and former U.K. CEO at UBS, told CNBC on Tuesday that he agreed with the broad assessment that Credit Suisse's downfall was "idiosyncratic." "It's unfortunate that the problems with some of the smaller U.S. banks in the last two or three weeks happened at the same time as this issue with Credit Suisse but the two are completely different and very largely unrelated," he said. By contrast, the Swiss banking and regulatory system has come under fire.

☆ Brazil police bust gang plot to attack authorities, public servants
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

[1/3] Brazilian senator Sergio Moro speaks during a session of the Federal Senate in Brasilia, Brazil March 22, 2023. "A murder plot against several public officials (among them a senator and a prosecutor) was investigated and identified. Sergio Moro, a former judge and current senator, also took to Twitter to confirm he and his family were targets in the gangs' plot. A government minister told Reuters that the plan was organized by the First Capital Command (PCC) gang and was not politically motivated. The federal police said 24 search and seizure warrants, seven preventive arrest warrants and four temporary arrest warrants are being served.

☆ Brazil's Lula to announce fiscal framework after China visit, criticizes central bank
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

The new framework is considered crucial to addressing fiscal concerns after Lula secured congressional approval for a multi-billion-real package that bypasses the constitutional spending cap to boost social spending and fulfill campaign promises. However, in an interview with local news website Brasil 247, Lula said it wouldn't make sense to announce the fiscal framework and then travel to China. Reacting to the postponement, interest rate futures closed higher at the short end of the yield curve. During the interview, Lula also criticized the country's central bank, saying that an interest rate of 13.75% - its current level - is "irresponsible," adding he will continue to fight the current level to stimulate the economy. Brazil's central bank has been holding its benchmark interest rate at a six-year high since September and, according to economists polled by Reuters, is expected to maintain it unchanged at the Wednesday meeting.

☆ This has been a long time coming for Credit Suisse shares, analyst says
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis has been a long time coming for Credit Suisse shares, analyst saysSteven Glass, managing director and analyst at Pella Funds Management, says the plunge of Credit Suisse shares has been a long time coming.

☆ MercadoLibre to invest $3.6 billion in Brazil this year
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, March 16 (Reuters) - MercadoLibre Inc. (MELI.O) said on Thursday it expects to invest 19 billion reais ($3.60 billion) in Brazil in 2023, 11.5% more than the amount invested in the previous year. The South American e-commerce and financial services giant, which in 2018 had invested one billion reais in the country, has upped its bet in Brazil in recent years, especially after a surge in demand for online shopping caused by the COVID pandemic. The goal, he said, is to service more cities and increase deliveries made within one day - which currently represent about 50% of the total. MercadoLibre does not disclose how much will be invested in each area of the company. ($1 = 5.2710 reais)Reporting by Andre Romani; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazilian researchers find 'terrifying' plastic rocks on remote island
▼ + stars: | 2023-03-15 | by ( Sergio Queiroz | ) www.reuters.com time to read: +2 min

[1/6] "Plastic rocks" found on Trindade Island in the state of Espirito Santo is seen at the laboratory of the Federal University of Parana, in Curitiba, state of Parana, Brazil March 7, 2023. REUTERS/Rodolfo BuhrerTRINDADE ISLAND, Brazil, March 15 (Reuters) - The geology of Brazil's volcanic Trindade Island has fascinated scientists for years, but the discovery of rocks made from plastic debris in this remote turtle refuge is sparking alarm. Melted plastic has become intertwined with rocks on the island, located 1,140 km (708 miles) from the southeastern state of Espirito Santo, which researchers say is evidence of humans' growing influence over the earth's geological cycles. Trindade Island is one of the world's most important conservation spots for green turtles, or Chelonia mydas, with thousands arriving each year to lay their eggs. The only human inhabitants on Trindade are members of the Brazilian navy, which maintains a base on the island and protects the nesting turtles.

☆ Ron DeSantis posed with a handmade snowflake. It had the words 'fascist' written all over it.
▼ + stars: | 2023-03-13 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Ron DeSantis was given a framed snowflake at an event in Iowa, where he was promoting his new book. The word "fascist" was hidden in every branch of the snowflake. Ron DeSantis was photographed posing with a cutout of a white snowflake in Iowa. Every branch of the snowflake had the word "fascist" hidden in the design. Read the snowflake," tweeted Laura Loomer, a pro-Trump, right-wing commentator.

☆ Ron DeSantis posed with a handmade snowflake. It had the word 'fascist' written all over it.
▼ + stars: | 2023-03-13 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Ron DeSantis was given a framed snowflake at an event in Iowa, where he was promoting his new book. The word "fascist" was hidden in every branch of the snowflake. Every branch of the snowflake had the word "fascist" hidden in the design. "At a Republican political rally in Davenport, Iowa today someone gave @GovRonDeSantis and @IAGovernor Kim Reynolds a handmade 'snowflake' with the word 'Fascist' secretly embedded in it," Goffman tweeted. Read the snowflake," tweeted Laura Loomer, a pro-Trump, right-wing commentator.

GMO wheat has never been grown for commercial purposes due to consumer fears about allergens or toxicities in the staple crop used worldwide for bread, pasta and pastries. The association was against adopting GMO wheat previously, but changed its stance after a survey it commissioned showed more than 70% of Brazilians would not mind consuming products containing it. Bioceres has said its GMO wheat "showed higher yields than conventional varieties across all environments, with an average 43% yield improvement in targeted environments." In November 2021, Brazil became the first country in the world to allow imports of flour made with GM wheat. "The approval for planting, imports and commercialization of GMO wheat resolves this issue, bringing peace of mind to different market actors," Abitrigo said in a statement.

☆ Brazil's Haddad says high interest rate is country's main issue
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, March 1 (Reuters) - Brazil's Finance Minister Fernando Haddad said on Wednesday that the country's high interest rate is the primary obstacle to economic growth, adding that recent government measures such as reinstating fuel taxes would pave the way to monetary easing. In an interview with news portal UOL, he said he believed this was the correct path to follow, rather than changing the central bank's inflation targets. Brazil's benchmark interest rate is currently at a six-year high of 13.75%, which Haddad said was causing a "credit problem" although he did not give further details. "We will recover the public budget from the perspective of revenue and expenditure to quickly create space for reducing interest rates," he said. "The inflation target will not be what causes the interest rate to fall."

☆ Petrobras, Brazil govt mull fuel price cut to offset tax resumption
▼ + stars: | 2023-02-28 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +2 min

"It is one of the possibilities under discussion," the ministry said in a statement via its press office. "There is room for compensation within the import parity policy," one of the sources said, referring to Petrobras' official policy of tracking international rates such as global fuel prices and foreign exchange. A meeting attended by a government official and Petrobras executives was held at the company's headquarters in Rio de Janeiro on Monday. The price cut is seen as a temporary solution for the very short term, one of the sources said. The company, formally known as Petroleo Brasileiro SA, reiterated it was committed to "competitive prices in balance with market".

☆ Brazil's public sector gross debt down to 73.1% of GDP in January
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Feb 28 (Reuters) - Brazil's gross debt continued its downward trajectory in January, while the consolidated public sector recorded a strong primary surplus, showed central bank data on Tuesday. In January, the Brazilian public sector recorded a primary surplus of 99 billion reais ($19 billion), surpassing the 90 billion reais surplus expected by economists polled by Reuters. However, the figure was lower than the 101.8 billion reais surplus in the same month last year. The performance was mainly driven by the 79.4 billion reais surplus from the central government, helped by record revenues for the month. States and municipalities recorded a primary surplus of 21.8 billion reais, while state-owned companies had a deficit of 2.2 billion reais, said the central bank.

☆ Brazil bank lending down for the first time in a year in January
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Feb 27 (Reuters) - Outstanding loans in Brazil decreased by 0.3% in January, according to central bank data on Monday, marking the first decline in a year. The result suggests a slowdown that is likely to gain momentum in a scenario of high borrowing costs following the aggressive monetary tightening implemented by the central bank to curb inflation. Bank loans in Latin America's largest economy have decelerated amid more expensive credit, as the country's benchmark interest rate stands at 13.75% from a record low of 2% in March 2021. The central bank has left interest rates unchanged since September, but data from the central bank shows that average interest rates on non-earmarked loans have increased to 43.5% per year from 41.7% in December. Bank lending spreads also grew from 28.7 points the month before to 30.6 percentage points, while a broad measure of Brazilian consumer and business default ratios increased to 4.5% from 4.2% in December.

☆ Foreign direct investment in Brazil posts best January in 5 years
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Feb 24 (Reuters) - Foreign direct investment in Brazil reached its highest level for January in five years, according to central bank data on Friday, continuing a trend of strong results since last year. FDI totaled $6.9 billion in January, best since 2018, when it reached $8.3 billion. Last year, FDI reached $90.6 billion, the highest annual figure in 10 years. Brazil's current account deficit was $8.8 billion in January, larger than the $8.2 billion shortfall forecast by economists. Central bank data also showed that investors made a net investment of $4.2 billion in Brazilian markets in January, including $1.9 billion inflows in stocks and $2.2 billion inflows in bonds.

☆ Brazil downpours leave at least 49 killed, death toll expected to rise
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Feb 23 (Reuters) - The death toll from heavy rains that devastated coastal areas of Brazil's southeastern Sao Paulo state reached 49 people, official figures showed on Thursday, as cities in the region brace for more downpour in the coming days. The number of casualties rose from 48 reported a day earlier, the Sao Paulo state government said in a statement, but dozens remained missing and search and rescue efforts continued. The city of Sao Sebastiao, located some 200 km (124.3 miles) from Sao Paulo, bore the brunt of the human toll, with 48 of the reported deaths, but nearby towns such as Ilhabela, Caraguatatuba, Bertioga and Ubatuba were also affected. Massive downpours have caused landslides and flooding since last weekend in coastal towns of Brazil's richest state, so far hit by more than 600 millimeters (23.6 inches) of rain, the highest cumulative figure ever in the country. Reporting by Eduardo Simoes; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Death toll from Brazil downpours hits 48, dozens still missing
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

[1/7] Volunteers, firefighters, army officers and a civil guard carry the body of a woman who died at one of the landslide sites after severe rainfall at Barra do Sahy, in Sao Sebastiao, Brazil, February 22, 2023. REUTERS/Amanda PerobelliSAO PAULO, Feb 22 (Reuters) - The death toll from heavy rains that devastated coastal areas of Brazil's southeastern Sao Paulo state reached 48 people, official figures showed on Wednesday, but dozens were still missing as search and rescue efforts continued. The number of casualties rose from 46 reported a day earlier, the Sao Paulo state government said in a statement. The city of Sao Sebastiao, located some 200 km (124.3 miles) from Sao Paulo, bore the brunt of the human toll, with 47 of the reported deaths. The floods in coastal Sao Paulo state were the latest in a series of such disasters to recently strike Brazil, where shoddy construction, often on hillsides, can have tragic consequences during the country's rainy season.

☆ South Africa's naval exercise with Russia, China raises Western alarm
▼ + stars: | 2023-02-17 | by ( Carien Du Plessis | ) www.reuters.com time to read: +5 min

"These exercises are going to be a lightning rod," said Steven Gruzd, of the South African Institute of International Affairs. "South Africa, like any independent and sovereign state, has a right to conduct its foreign relations in line with its ... national interests," South Africa's defence ministry said last month. Russia's defence ministry did not respond to a request for comment, and South Africa's National Defence Force has denied the TASS report. China is now Africa's top bilateral trading partner, but the EU is by far the largest market for South African exports. Domestic critics of South Africa's push to deepen ties with Russia and China say that economic reality alone should be enough to give the government serious pause.

☆ At least 39 migrants die in bus crash off Panama cliff
▼ + stars: | 2023-02-15 | by ( Elida Moreno | ) www.reuters.com time to read: +2 min

[1/4] Rescue teams work at the site of the accident of a bus, which was carrying migrants who had traveled through the Darien gap, in Los Planes de Gualaca, Panama February 15, 2023. REUTERS/StringerPANAMA CITY, Feb 15 (Reuters) - At least 39 have died in Panama after a bus carrying more than 60 migrants fell off a cliff early on Wednesday, the country's migration authorities said, marking the worst migration accident in the Central American country's history. Migration authorities did not provide details on the nationalities of the victims, saying it would first communicate with the relatives and respective embassies of the passengers. Last year, a record 248,000 migrants crossed the Darien Gap, most of them Venezuelans. Since the beginning of 2023, a further 32,800 have crossed the Darien Gap, Panama's foreign ministry said on Tuesday.

☆ Defiant Man City see off Villa to close gap on Arsenal
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +3 min

MANCHESTER, England, Feb 12 (Reuters) - Manchester City produced a defiant response to the Premier League's charge sheet as they comfortably beat Aston Villa 3-1 to close to within three points of leaders Arsenal on Sunday. Goals by Rodri, Ilkay Gundogan and Riyad Mahrez put the result beyond doubt by halftime as City got back on track following last weekend's loss at Tottenham Hotspur. Villa were left with mission impossible when Mahrez tucked away a penalty in first-half stoppage time after Jacob Ramsey was adjudged to have tripped former Villa player Jack Grealish. Champions City have 48 points from 22 games to Arsenal's 51 from 21 and can go top if they win at Arsenal on Wednesday. "It was a bad result, but we have to learn and use it in the next matches."

☆ Americanas accounting scandal was a 'fraud,' says CEO of Brazil's Itau
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Feb 8 (Reuters) - The chief executive of Brazil's biggest private lender Itau Unibanco (ITUB4.SA) said on Wednesday that the accounting inconsistencies that led retailer Americanas SA (AMER3.SA) to request bankruptcy protection represent a case of 'fraud'. Milton Maluhy Filho's remarks came after Itau, which had a multi-million-dollar exposure to Americanas, had to set aside more cash for bad loans in the fourth quarter. Maluhy added that Itau has not identified any case similar to that of Americanas, which reported around $8 billion in debt after disclosing "inconsistencies" in its accounting. Reporting by Aluisio Alves; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil police conduct new raids as part of probe into Brasilia riots
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Feb 7 (Reuters) - Brazil's federal police on Tuesday carried out fresh raids as part of an investigation into the Jan. 8 insurrection, when supporters of former far-right President Jair Bolsonaro stormed government buildings in Brasilia. Police said in a statement they were serving three temporary detention warrants, one preventive arrest warrant and six search and seizure warrants in the federal district, where Brasilia is located, under Supreme Court orders. The new raids represent the fifth phase of an operation launched last month aimed at identifying people who participated in, funded or fostered the riots, in which a mob invaded and ransacked the Congress, presidential palace and Supreme Court. They were protesting against Bolsonaro's defeat by President Luiz Inacio Lula da Silva in an October election and calling for a military coup to oust Lula and restore the far-right leader. Reporting by Gabriel Araujo; Editing by Steven Grattan, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

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