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☆ Chile's GDP posts largest quarterly drop in over 2 years
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

SANTIAGO, Nov 18 (Reuters) - Chile's economy posted in the third quarter its largest sequential drop in more than two years, central bank data showed on Friday, as recession concerns grow in the world's largest copper producer. Gross domestic product (GDP) contracted 1.2% from the second quarter, the central bank said, its largest decrease since the second quarter of 2020, when the economy dropped 13% as the COVID-19 pandemic hit the Andean country. Chile's economy recovered rapidly from the pandemic-related downturn but was then hit by soaring inflation, leading the local central bank to hike interest rates aggressively to the current 11.25%. On a yearly basis, according to the central bank, Chile's economy expanded 0.3% in the third quarter, slightly above expectations of a 0.2% increase. Reporting by Fabian Andres Cambero and Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

[1/2] Pound and U.S. dollar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/IllustrationLONDON, Nov 17 (Reuters) - The dollar rose on Thursday as investors digested mixed U.S. economic data, while the British pound fell as the UK government unveiled its latest budget update. Yet the dollar climbed on Thursday after U.S. retail sales data for October, released on Wednesday, came in stronger than expected. Traders will also scrutinise speeches from numerous Fed officials on Thursday for hints about rate hikes. It plunged 3.7% on Thursday last week when U.S. consumer inflation data for October came in lower than expected.

SAO PAULO, Nov 17 (Reuters) - Brazilian markets slumped on Thursday after the incoming administration of President-elect Luiz Inacio Lula da Silva proposed exempting some 175 billion reais ($32 billion) from the spending cap on next year's budget to pay for welfare programs. Lula's transition team late on Wednesday proposed to lawmakers guidelines for a constitutional amendment that would set a spending cap waiver to secure welfare programs, though without establishing how long the waiver would last. "The stock market will fall, the dollar will rise (against the real). The dollar doesn't rise and the stock market doesn't fall because of serious people, but because of those speculating every single day," he said. Helder Wakabayashi, an analyst at Toro Investimentos, said that markets would remain pressured at least until the incoming government proposes a deadline for the spending cap waiver.

REUTERS/Octavio JonesNEW YORK, Nov 16 (Reuters) - Former President Donald Trump's entry on Tuesday into the 2024 presidential race confirmed the world's "worst kept secret" and created another variable for markets that some investors say remains a low priority for now. Trump's announcement, meanwhile, came as little surprise to investors, as the former president had telegraphed the possibility he might run again for some time. DIVIDED WE HURTUnlike during Trump's previous bid, the discord within the Republican party also worried some investors. The Republican president has claimed credit for the rise, tweeting often about Wall Street's performance. Both stocks rallied earlier this month on reports Trump was considering a third bid for the White House.

☆ Brazil's Embraer narrows Q3 net loss, sees deliveries at lower end of outlook
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 14 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) on Monday reported a narrower third quarter net loss and boosted its free cash flow outlook for the full year, but acknowledged that annual deliveries were likely to stay at the lower end of its forecast. Embraer posted a quarterly adjusted net loss of 93.8 million reais ($17.62 million), narrower than the 179.7 million-real loss a year ago despite net revenue dropping 3% to 4.87 billion reais. The company increased its free cash flow outlook for the full year to $150 million or more from a previous estimate of $50 million or more, saying results so far have outperformed initial expectations. Santander analysts said the results missed their projections, but the reaffirmed delivery outlook was positive given the risks from supply chain issues. ($1 = 5.3250 reais)Reporting by Gabriel Araujo; Editing by Steven Grattan, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Magnussen takes stunning first F1 pole for Haas in Brazil
▼ + stars: | 2022-11-11 | by ( Gabriel Araujo | ) www.reuters.com time to read: +4 min

NO KIDDING"You're kidding," Magnussen had said over the team radio when told he was fastest as the red flags were waved. Saturday will be the third such race of the season, with Verstappen winning the two previous ones at Imola and in Austria. Seven-times world champion Hamilton suffered as a result of his team mate's spin and will start the sprint from eighth place. "I will speak to the team and understand what we can do better in those conditions," he said. "I accepted the decision to go on the inters and then I waited for the rain that never came."

☆ Perez fastest in Sao Paulo GP practice
▼ + stars: | 2022-11-11 | by ( Gabriel Araujo | ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 11 (Reuters) - Red Bull's Sergio Perez lapped fastest in first free practice for the Sao Paulo Formula One Grand Prix at Interlagos on Friday with the top three drivers separated by just 0.008 of a second. Double world champion Max Verstappen, Perez's team mate, was a further 0.004 adrift. Red Bull are chasing their 10th win in a row this weekend while Verstappen is seeking a record-extending 15th win of the season. Four-times world champion Sebastian Vettel, heading for retirement after the final race in Abu Dhabi, lapped seventh fastest for Aston Martin and fellow-German Mick Schumacher was eighth for Haas. McLaren's Lando Norris, who cancelled his media engagements due to suspected food poisoning on Thursday, took part in the session and was 15th fastest.

☆ Chile inflation slows to 8-month low in positive surprise
▼ + stars: | 2022-11-08 | by ( Fabian Cambero | ) www.reuters.com time to read: +2 min

SANTIAGO, Nov 8 (Reuters) - Chile's inflation slowed to its lowest level in eight months in October, official data showed on Tuesday, a positive surprise likely to reinforce the central bank's take that its aggressive monetary tightening cycle has come to an end. According to INE, inflation last month was boosted mainly by higher food and non-alcoholic beverage prices, as well as transportation costs. Scotiabank's Chile senior economist Anibal Alarcon, on the other hand, said he already forecasts an aggressive rate cut of between 100 and 200 basis points in January 2023 after October's "true disinflationary surprise". "We expect the market to align with our view very quickly with significant falls in nominal rates," Alarcon added. Reporting by Fabian Andres Cambero and Gabriel Araujo; Editing by Steven Grattan and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Embraer delivers 33 jets in Q3, reaffirms full-year forecast
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Nov 7 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) on Monday said it has delivered a total 33 jets in the third quarter, up from 30 in the year-ago period, and reaffirmed its full-year forecast even with supply chain constraints hitting the industry recently. Embraer said that quarterly deliveries included 10 commercial aircraft and 23 executive jets, up from nine and 21 respectively in the same period of 2021. The latest backlog data included a firm order for six E195-E2 jets signed with Oman's low-cost carrier SalamAir in October. Embraer had also agreed on a deal with Canada's Porter Airlines for 20 aircraft earlier this year. The Brazilian company reaffirmed its full-year deliveries forecast set at 100 to 110 executive jets and 60 to 70 commercial jets.

☆ 'Now I'm one of you,' Hamilton tells Brazil as he becomes honorary citizen
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

[1/4] British Formula One racing driver, Lewis Hamilton gestures, after he received the title of honorary citizen of Brazil at the Chamber of Deputies in Brasilia, Brazil November 7, 2022. REUTERS/Adriano MachadoNov 7 (Reuters) - Seven-times Formula One world champion Lewis Hamilton was made an honorary citizen of Brazil on Monday by the country's lower house of Congress and dedicated the honour to his boyhood idol, the late Brazilian triple world champion Ayrton Senna. The lower house passed in June a bill to make the 37-year-old an honorary citizen that was proposed by congressman Andre Figueiredo after the British driver won the 2021 Brazilian Grand Prix for the third time. "I have so many amazing memories of Brazil," Hamilton said. Hamilton pledged to continue pushing for diversity and said that visiting the Amazon rainforest was one of his dreams.

☆ South American fans bite their nails over World Cup chances - and inflation
▼ + stars: | 2022-11-06 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

That is pushing up costs from soccer stickers and jerseys to game time snacks and beer. "Prices are just too inflated," said 20-year-old Brazilian Breno Nery, who was buying popular collectible soccer stickers in a Sao Paulo mall. A pack of five stickers has doubled to 4 reais ($0.79) since the 2018 Russia World Cup. STICKER SHOCKThe World Cup will be played from Nov. 20 to Dec. 18 - late spring in the southern hemisphere, a change from the normal dates that fall in the region's winter. The World Cup even led Argentina to launch capital controls of overseas travel and spending dubbed as the "Qatar" FX rate, making travel to the Middle East nation even more expensive in local currency.

Demonstrations erupted on Sunday in support of Bolsonaro after he was narrowly defeated by Lula, who previously governed from 2003 to 2010. Carvalho asked Brazil's federal police to open an official probe on 70-year-old Piquet to "clarify the facts". He said that Piquet, as a public figure, should have been aware that his remarks had the power to reach hundreds of thousands of people. One of Lula's closest allies, Senator Humberto Costa, stated earlier this week he was filing a complaint against Piquet with the public prosecutor's office following his comments. His latest remarks come just days ahead of the Brazilian Grand Prix, which is set to begin in Sao Paulo on Nov. 13.

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.

[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 airline Gol narrows Q3 net loss on record revenue
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

Gol Linhas Aereas Inteligentes SA, as the company is formally known, posted a net loss of 1.55 billion reais ($287.84 million) in the quarter ended in September, narrowing from a 2.52 billion real loss in the same period last year. The company said the bottom line was affected by foreign exchange losses, which reached a total 738 million reais in the quarter. It managed to deliver a record quarterly net revenue, more than doubling from a year ago to 4.0 billion reais and above pre-pandemic levels, a securities filing showed. Gol also updated some of its full-year forecasts to reflect higher jet fuel prices, current ticket sale levels and 2022 results so far, it said. Gol kept its full-year net revenue forecast at 15.4 billion reais and said diluted earnings per share are expected to come in at zero, from a non-available estimate earlier.

☆ Mexican headline inflation slows in early October, core index still a concern
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +3 min

An employee prepares dough to make tortillas at a tortilla stall in Ozumba de Alzate, State of Mexico, Mexico, May 24, 2022. Headline annual inflation in Latin America's second-largest economy inched down to 8.53% from 8.64% in the second half of September, also undershooting the consensus forecast of a Reuters poll for a rate of 8.63%. Compared with the previous two-week period, Mexican consumer prices rose by 0.44% in early October, the data showed. The core price index, which strips out some volatile food and energy prices, climbed 0.42% in early October, slightly above market expectations for 0.35%. Annual core inflation was 8.39%, above forecasts for 8.31%.

☆ Brazil's top footballers lean toward Bolsonaro in polarized race
▼ + stars: | 2022-10-23 | by ( Gabriel Araujo | ) www.reuters.com time to read: +5 min

In a country where evangelical churches have made major inroads in poorer communities, eroding the Catholic majority, many footballers wear their evangelical faith on their sleeve. "There is this slogan that I love," Alves said, using a stock Bolsonaro phrase: "Brazil above everything, God above all." Bolsonaro lost the first round to his leftist challenger Luiz Inacio Lula da Silva by a tighter-than-expected margin, setting up an Oct. 30 runoff. The outpouring on social media bolstered the growing anecdotal evidence that many of Brazil's most prominent soccer players now lean to the right. Top footballers' embrace of Bolsonaro has jibed with a growing tradition among conservative Brazilians who don the national team's famous yellow jersey in street demonstrations, as Bolsonaro himself has done occasionally.

☆ JPMorgan-backed digital bank C6 to open Brazil branch network
▼ + stars: | 2022-10-19 | by ( Aluisio Alves | ) www.reuters.com time to read: +2 min

SÃO PAULO, Oct 19 (Reuters) - Brazilian lender C6 Bank is set to open its first five brick-and-mortar branches in the country in the next few weeks, an executive has revealed, enhancing the competition between the JPMorgan-backed digital bank and large retail lenders for high income clients in Latin America's largest economy. Similar units in Brazilian large cap lenders include Banco Bradesco SA's Prime (BBDC4.SA) and Banco Santander Brasil SA's Van Gogh . With the physical branches initiative, C6 aims to increase its share in the high income market, which it expects to cover some 5 million people in the country. In 2021, the purchase of a 40% stake in C6 marked JPMorgan Chase & Co's (JPM.N) debut in Brazil's retail banking. C6 was founded by former partners at Banco BTG Pactual SA , Latin America's largest independent investment bank.

☆ Brazil's Nubank to introduce cryptocurrency as part of rewards program
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Oct 19 (Reuters) - Brazil's Nubank on Wednesday announced plans to release its own cryptocurrency as part of a new customer rewards program. Warren Buffett-backed Nubank said in a statement the Nucoin digital currency is expected to be launched in the first half of 2023. Its goal is to offer customers benefits such as discounts and perks as they accumulate Nucoins. Nubank announced in May it would allow its Brazilian customers to make cryptocurrency transactions on its banking app. Register now for FREE unlimited access to Reuters.com RegisterReporting by Gabriel Araujo, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Consumer prices in Brazil down for the third month on lower fuel costs
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

Prices are displayed at a market in Rio de Janeiro, Brazil, September 2, 2021. The benchmark IPCA index (BRCPI=ECI) fell 0.29% last month, IBGE said, a smaller drop than the 0.34% forecast by economists polled by Reuters and slowing down from the 0.36% fall seen in the previous month. The transportation sector once again led consumer prices down in Brazil in September, posting a 1.98% drop, while food and beverage prices fell for the first time since November 2021, IBGE said. Reuters GraphicsIn the 12 months through September, inflation reached 7.17%, down from 8.73% in the previous month though slightly above the 7.1% forecast. "But with some goods and services inflation still rising, and the headline rate far above target, a shift towards interest rate cuts remains a long way off," he added.

☆ Brazil's inflation extends downtrend in mid-September on lower fuel prices
▼ + stars: | 2022-09-27 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

Inflation in the 12 months to mid-September hit 7.96%, well below the 8.14% forecast by economists, likely backing the central bank's recent decision of pausing its aggressive rate hiking cycle. Adding to energy state tax cuts announced earlier this year, oil giant Petroleo Brasileiro SA reduced refinery gate gasoline prices twice since mid-August, leading to lower prices at the pump. The inflation drop in September, however, was not widespread as prices fell in only three of the nine groups of products and services surveyed, IBGE said - communication, food and beverages, and transportation. The latest inflation data comes as Brazil's central bank last week chose to keep interest rates unchanged at 13.75%, pausing an aggressive tightening after 12 consecutive increases aimed at curbing high inflation. William Jackson, chief emerging markets economist at Capital Economics, said the inflation figures confirmed that the monetary tightening cycle was over.

☆ India's Blade signs order for up to 200 electric aircraft from Embraer's Eve
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Sept 27 (Reuters) - Brazil's Eve Holding Inc (EVEX.N) said on Tuesday that Blade India has signed a purchase order for up to 200 of its electric vertical take-off and landing (eVTOLs), allowing it to expand its urban air mobility ecosystem in the Asian country. A joint venture between Hunch Ventures and Blade Air Mobility (BLDE.O), Blade India will also collaborate with Eve - which is controlled by planemaker Embraer SA (EMBR3.SA) - on a three-month pilot project connecting passengers using helicopters, the company said in a statement. Register now for FREE unlimited access to Reuters.com RegisterReporting by Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Fires in Brazil's Amazon surge in September, worst month since 2010
▼ + stars: | 2022-09-26 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

Smoke from a fire rises into the air as trees burn amongst vegetation in the Brazil's Amazon rainforest, in Apui, Amazonas state, Brazil, September 5, 2021. REUTERS/Bruno Kelly/File PhotoSAO PAULO, Sept 26 (Reuters) - Fires in Brazil's Amazon rainforest have surged in September, already making it the worst month in more than a decade, government data showed on Monday, after a jump in deforestation during an election year. Destruction of Brazil's rainforest often picks up in election years, when law enforcement typically ebbs and loggers race ahead with plans ahead of a possible shift in conservation policy. "Fires are not a natural phenomenon in the Amazon rainforest. Data also showed that 1,661 square kilometers (641 square miles) were cleared in the Amazon last month, an 81% increase from the same period in 2021.

☆ Mubadala withdraws offer for Brazil's Burger King brand owner
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Sept 23 (Reuters) - Brazil's Zamp SA (BKBR3.SA), which owns the Burger King brand in the South American country, said on Friday that Abu Dhabi state investor Mubadala has revoked its tender offer to purchase a controlling stake in the company. Mubadala had offered 8.31 reais ($1.61) per share to buy a 45.15% stake in Zamp but decided to drop out of the deal, saying it had failed to obtain confirmation on whether the transaction would imply the termination of Zamp's franchise and trademark licensing agreements. read more($1 = 5.1670 reais)Register now for FREE unlimited access to Reuters.com RegisterReporting by Gabriel Araujo Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Bolsonaro calls for 'immediate cease fire' in Ukraine
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterBrazil's President Jair Bolsonaro addresses the 77th Session of the United Nations General Assembly at U.N. Headquarters in New York City, U.S., September 20, 2022. REUTERS/Brendan McdermidSept 20 (Reuters) - Brazilian President Jair Bolsonaro on Tuesday called for an immediate cease fire in Ukraine, while criticizing sanctions against Russia over the invasion, as he addressed the United Nations General Assembly in New York. Bolsonaro said Brazil does not see unilateral sanctions as the best way to handle the conflict, adding that a solution would only be reached through dialogue and negotiations. Register now for FREE unlimited access to Reuters.com RegisterReporting by Gabriel Araujo in Sao Paulo Editing by Brad HaynesOur Standards: The Thomson Reuters Trust Principles.

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