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☆ 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.

☆ 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.

☆ 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.

☆ 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.

☆ 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.

☆ 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.

☆ 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 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.

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