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☆ Brazil's Oi exits bankruptcy protection after more than 6 years; shares jump
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Dec 15 (Reuters) - Shares in Brazilian telecom firm Oi SA (OIBR4.SA) soared on Thursday after it revealed it was exiting bankruptcy protection, marking the closure of a restructuring process that lasted more than six years. Oi filed in June 2016 for Brazil's then-biggest ever bankruptcy protection after running out of time to reorganize operations and restructure a multibillion-dollar debt amid a harsh recession in Latin America's largest economy. After the announcement, common shares in Oi jumped as much as 53% to 0.26 real in morning trading. Analysts at Genial Investimentos said the move was positive for the firm, even though they still thought Oi was financially weakened. Guide Investimentos echoed the concern and noted that despite being postponed several times, the end of the bankruptcy protection was already expected.

☆ Brazil's spending package affecting inflation expectations, says central bank
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Dec 15 (Reuters) - Brazil's central bank already believes a recently proposed spending package is partly affecting closely watched inflation expectations, said the bank's chief Roberto Campos Neto on Thursday. We see it in implicit inflation and in the structure of long-term interest rates and, when that happens, expectations are always contaminated," he said, adding long-term inflation expectations were in part affected. For its current inflation projections, the central bank has considered a fiscal expansion of 130 billion reais next year extracted from market estimates, said Campos Neto. The central bank held interest rates at 13.75% this month, after a September pause to an aggressive tightening that lifted rates from a 2% record low in March 2021 to battle inflation. Campos Neto pointed out that coordination between fiscal and monetary policies is "very important," and the central bank needs proper conditions to lower rates.

☆ Brazil's Petrobras reaches deal with regulator on govt stake in oilfield
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

Companies Petroleo Brasileiro SA Petrobras FollowSAO PAULO, Dec 15 (Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) has reached a deal with oil regulator ANP to pay 780 million reais ($146.38 million) regarding the government's stake in its Jubarte oilfield, ANP said on Thursday. The deal will now be put up for public consultation and may end a legal battle between the two parties. ($1 = 5.3287 reais)Reporting by Marta Nogueira; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Petrobras shares dive on Brazil vote to ease rules on politicians running state firms
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Dec 14 (Reuters) - Brazil's lower house of Congress voted late on Tuesday to make it easier for politicians to take roles at state-run firms, hammering shares of the state-run oil company, devastated by a political graft scandal over the past decade. Shares in state-run oil company Petroleo Brasileiro SA (PETR4.SA) (Petrobras) closed 10% lower on Wednesday. Analysts at BTG Pactual said the revised law would be bad for governance at state-owned firms as it eliminates one of their main mechanisms of defense from political influence. Incoming Finance Minister Fernando Haddad did his best to downplay the looser controls on politicians running state firms, saying the most important way to fight corruption is with strong, independent auditors. Reporting by Eduardo Simoes, Carolina Pulice and Marcela Ayres; Writing by Steven Grattan and Gabriel Araujo; Editing by Brad Haynes, Mark Potter and Lincoln Feast.

☆ Cameo launches Cameo Kids personalized videos with Candle Media
▼ + stars: | 2022-12-08 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

Dec 8 (Reuters) - Celebrity video messaging service Cameo said Thursday it has partnered with Candle Media to launch a new feature aimed at the playground set -- Cameo Kids. The service will offer personalized birthday and holiday video greetings from animated children's characters, including popular figures from Candle Media's Moonbug Entertainment's franchises "Blippi" and "CoComelon." Personalized messages for children expand the potential market for Cameo, which launched five years ago and allows athletes, celebrities and musicians to sell personalized videos to their fans. Cameo had experimented with offering children's content about a year ago, working with Mattel Inc's (MAT.O) 'Thomas the Tank Engine,' but its partnership with Candle Media helped elevate the experience, Galanis said. Blackstone-backed Candle Media spent months figuring out how to use its animated characters to deliver personalized video at scale.

While indigenous groups account for about 5% of the world's population, their lands safeguard about 80% of Earth's remaining plant and animal species, according to the World Bank. Indigenous groups have a range of concerns about the U.N. summit negotiations. Some critics worry that the 30-by-30 target could be used to erode indigenous rights under the guise of conservation. Others, like Tuxa of Brazil and Ngomo of Congo argue that a 30% conservation target does not go far enough to ensure nature's protection. Adopting a 30% target at the national level could backfire, Tuxa said, in suggesting Brazil can open more land to development.

“You have to sample them all and analyze them all to see if they belong to victims or a suspect. The Moscow killings occurred in a three-story, six-bedroom rented house, about a half-block from the University of Idaho campus. The apartment house in Moscow, Idaho, where four students were stabbed to death held an enormous amount of biological evidence, experts say. “So, who could have left that DNA evidence? Before getting answers about DNA, investigators seek clues in the location of blood.

☆ I bought a second home in Spain for $250,000 because I don't want to live in the US anymore. It's half the cost of living in Manhattan.
▼ + stars: | 2022-12-04 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +6 min

Michael Steven Grant and his partner bought a second home in Sitges, a town near Barcelona, Spain. Grant worked in nonprofit fundraising before starting in July with VistaFutura, a company that helps Americans purchase and maintain property in Spain. After many years on the west coast I ended up on the east coast again, in Manhattan, eight or nine years ago. A year ago my partner and I were thinking of where we wanted to buy a second place with the hopes of, down the road, retiring to and living full-time. We went back to Spain in March of this year and saw maybe a dozen places, none of which we liked.

☆ Brazil's Lula mulls U.S. trip before January inauguration
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Dec 2 (Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva said on Friday he is considering traveling to the United States to meet President Joe Biden after his election victory is certified this month. Lula told reporters in Brasilia that he wanted to discuss a series of issues with Biden, including the Ukraine War, and may travel to the United States before his inauguration on Jan. 1. "I want to talk to him about Brazil-U.S. relations, Brazil's geopolitical role in the world, the war in Ukraine - there is no need for a war," Lula said. "The damage Trump has done to U.S. democracy is the same damage that Bolsonaro has done to Brazil's. They have the same behavior," said Lula, who is set to meet with two U.S. envoys on Monday in Brasilia to discuss possible dates for his trip.

☆ 'Four beautiful kids': Community remembers slain University of Idaho students at vigil
▼ + stars: | 2022-12-01 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Phil-Helsel-Circle-Byline-Template.Jpg | Phil Helsel | ) www.nbcnews.com time to read: +4 min

Fighting back tears, parents of slain University of Idaho students shared moments of laughter and sorrow Wednesday as students and faculty members gathered for a vigil for the four lives lost. We’re going to figure this stuff out,” Steven Goncalves, Kaylee’s father, said at the ceremony at the university in Moscow, Idaho. The unsolved killings have put some students at the university, in a city of around 25,000, and the community on edge. "That’s the only thing that’s going to heal us. That’s the only thing that’s going to heal you."

☆ Landslides cut off major Brazilian grains port, dozens missing
▼ + stars: | 2022-11-30 | by ( Roberto Samora | ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 30 (Reuters) - Landslides after heavy rains in southern Brazil left dozens of people missing in Parana state and cut off access to a major port for grains and sugar shipments, authorities said on Wednesday. The BR-277 road to Paranagua and Antonina ports has been closed to vehicle traffic toward the coast since Tuesday. About 80% of goods exported at from Paranagua, Brazil's second-biggest port for grains and sugar, arrive by trucks, the port authority said, declining to estimate losses from the disruption. Rumo said goods are being delivered to the port and that it was monitoring the conditions of the tracks. The main products arriving by rail are sugar, soybeans and corn, according to the port authorities.

☆ Asset manager names 9 'cheap' stocks to buy as recession fears grow
▼ + stars: | 2022-11-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

I don't think people realize just how inverted the 2-10 year [Treasury yield] is at the moment, which is really historically a strong signal of an imminent recession," Glass told "Squawk Box Asia" on Monday. 'Cheap' stocks to buy In this environment, Glass selected nine stocks that he said, "look particularly cheap given their growth outlook." His favorites are major U.S. discount retailer Dollar General , investment company 3i whose largest asset is European discount retailer Action, and B & M Value Retail. On 3i, he noted that Action accounts for 50% of its investment portfolio, and the discount retailer is a "beneficiary of rich-poor divide" and consumers trading down. He also said that Action is "recession and inflation resistant," with an attractive valuation at a more-than 20% discount to its net asset value.

☆ Valuations are critical, says asset manager, who names 'cheap' stocks to buy
▼ + stars: | 2022-11-28 | 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 EmailValuations are critical, says asset manager, who names 'cheap' stocks to buySteven Glass, managing director of Pella Funds Management, says it's essential for investors to look at stock valuations right now. He names stocks in one sector that "makes sense" to buy in the current environment.

☆ Another tech bubble bursts: 2022 has been brutal for Silicon Valley workers
▼ + stars: | 2022-11-27 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +28 min

Gem: 100A maker of recruiting software, the startup cut a third of its workforce Nov. 1, The Information reported. HealthCare.com: 149The health insurance marketplace announced the job cuts Aug. 3, Miami Inno reported, citing state regulatory filings. Fabric: 120The robotics startup said July 13 that it was layoffing off 40% of them, TechCrunch reported, citing company confirmation. It affected about 300 people, the Silicon Valley Business Journal reported, citing company confirmation. Policygenius: 170The online insurance company cut about 25% of its staff, Axios reported June 6, citing company confirmation.

☆ Mexico economy grows 0.9% in Q3 but momentum seen easing on tighter conditions
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

Nov 25 (Reuters) - Mexico's economy grew 0.9% in the third quarter from the previous three-month period, national statistics agency INEGI said on Friday, boosted mainly by the primary sector and despite an ongoing aggressive monetary tightening cycle. Repeating a trend seen in the previous quarter, Latin America's second-largest economy posted across-the-board growth in the period, with primary, secondary and tertiary sectors expanding 2%, 0.6% and 1.1%, respectively. Tighter monetary conditions, however, are seen slowing down Mexico's GDP growth ahead, and President Andres Manuel Lopez Obrador has recently asked the central bank to balance fighting inflation with the need to protect economic growth. In annual terms, INEGI said, the country's economy expanded 4.3% in the third quarter compared to a year earlier, beating expectations of 4.1% growth from economists polled by Reuters. Separately, data showed on Friday that Mexico's economic activity grew 0.7% in September from August and 5.2% from September of 2021, both also ahead of market projections.

☆ Brazil posts current account deficit of $4.6 bln in October
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

The deficit was $4.6 billion in October, below a $4.9 billion shortfall forecast in a Reuters poll with economists. Year-to-date, the current account deficit reached $44 billion, approaching the $46.4 billion deficit recorded for the entire year of 2021. The data was affected by a methodological review by the central bank that increased the shortfall from last year and this year to September. Meanwhile, foreign direct investment in October totaled $5.5 billion, lower than the $6.5 billion projected by economists. Year-to-date, however, FDI reached $74 billion, handily surpassing the full-year 2021 amount of $46.4 billion.

☆ Brazil to allow credit fintechs to initiate payment transactions
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: 1 min

BRASILIA, Nov 25 (Reuters) - Brazil's National Monetary Council on Friday decided to allow credit fintechs to initiate payment transactions, the central bank said, a move that will in practice clear them to provide payment services to consumers and business establishments. Payment initiators, the central bank said in a statement, "initiate a transaction ordered by the final user but never manage the payment account, nor hold the funds of the transactions". Reporting by Isabel Versiani; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Lula to prioritize tax reform early in his govt, aide says
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Nov 25 (Reuters) - Brazil's President-elect Luiz Inacio Lula da Silva will give "full priority" to kicking off a tax reform early in his administration, close aide and former Sao Paulo Mayor Fernando Haddad said on Friday. Haddad, who has recently emerged as the front-runner to be finance minister, also said at an event hosted by banking lobby Febraban that Lula would look into quickly resuming trade agreements that have been "sitting on the shelf," including Mercosur's deal with the European Union. Leftist Lula will take office from President Jair Bolsonaro on Jan. 1. Reporting by Andre Romani; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Loss of Viva would have negative impact on Colombia's airline industry -Avianca
▼ + stars: | 2022-11-24 | by ( Luis Jaime Acosta | ) www.reuters.com time to read: +2 min

Avianca and Viva announced on Wednesday they had appealed to Colombia's aviation regulator after it rejected their plan to merge, proposing steps to allay its concerns, such as yielding some routes to competitors. Colombia's aviation regulator objected to the merger, saying it poses risks to competition and the welfare of consumers. As a result, ticket prices would rise and routes to some cities only served by Viva would be lost. The aviation regulator has two months to resolve the appeal, although Neuhauser is confident a decision can be reached sooner. Viva faces a complex financial situation after the pandemic slowed travel, worsened this year by rising fuel prices and a weaker peso currency.

☆ Canada to invest C$1.6 bln in first national climate adaptation strategy
▼ + stars: | 2022-11-24 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

near Fintry, Canada, August 24, 2021. REUTERS/Artur Gajda/File PhotoNov 24 (Reuters) - Canada published its first ever national climate adaptation strategy on Thursday, including C$1.6 billion ($1.2 billion) in new federal funding commitments to help protect communities against the increasing impacts of global warming. The goal of the adaptation strategy is to help reduce those losses with federal policy and investment. "The fight against climate change has reached our doorstep. Ottawa has so far earmarked C$8 billion in federal funding for adaptation and disaster resilience, the statement said.

☆ Brazil's Lula won't have interventionist stance on Petrobras, aide says
▼ + stars: | 2022-11-24 | by ( Ricardo Brito | Tom Polansek | ) www.reuters.com time to read: +3 min

[1/2] A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes/File PhotoBRASILIA, Nov 24 (Reuters) - Brazil's incoming leftist government will not have an interventionist stance on state-run oil giant Petrobras (PETR4.SA), a member of the transition team for President-elect Luiz Inacio Lula da Silva said on Thursday. Market participants have been showing concern over how the Lula administration might run Petrobras. He also noted that the incoming administration, and not Petrobras itself, would set a new fuel pricing policy for the country. Shares of Petrobras, which slipped by roughly a quarter since mid-October, were up more than 4% on Thursday, outperforming Brazil's Bovespa stock index (.BVSP), which rose 2.5%.

☆ Mexico core inflation higher than expected in early Nov, rate hikes to continue
▼ + stars: | 2022-11-24 | by ( Gabriel Araujo | ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 24 (Reuters) - Mexico's annual consumer prices slowed more than expected during the first half of November, but the core inflation index - which remains a main concern in the country as it grapples with high costs - came in above market forecasts. Data from national statistics agency INEGI showed on Thursday that annual headline inflation in Mexico hit 8.14% in the period, down from 8.53% a month ago and also below consensus of 8.24% in a Reuters poll of economists. The latest inflation figures backed expectations that the local central bank, known as Banxico, would keep hiking interest rates. "Overall, headline inflation continues to edge down in Mexico, but core inflation remains sticky, which will continue to keep policymakers uneasy," said Pantheon Macroeconomics' chief Latin America economist, Andres Abadia. On a monthly basis, Mexico's headline inflation rose 0.56% while the core index was up by 0.34% in mid-November, the statistics agency said.

SAO PAULO, Nov 22 (Reuters) - A journalist covering the soccer World Cup in Qatar on Tuesday said local police hassled him outside a stadium after a regional Brazilian flag was mistaken for an LGBTQ pride flag. He told Reuters that a man wearing a traditional white dress mistook it for the LGBTQ community's rainbow flag when he was leaving the Lusail Stadium after Saudi Arabia's shock 2-1 win over Argentina. "This guy wearing a white dress grabbed the flag, threw it on the ground and started stomping on it. I took my phone to record a video but he grabbed it from my hand and said he would only give it back if I deleted the video," Pereira said. A U.S. journalist said he was briefly detained on Monday when he tried to enter a World Cup stadium in Qatar while wearing a rainbow shirt in support of the LGBTQ community, also claiming his phone was seized.

☆ Brazil transition team asks Bolsonaro govt to halt Petrobras asset sales
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

Companies Petroleo Brasileiro SA Petrobras FollowNov 22 (Reuters) - The transition team for Brazil's President-elect Luiz Inacio Lula da Silva asked the current administration to halt ongoing asset sales by state-run oil giant Petrobras (PETR4.SA) until a new Mines and Energy Minister is appointed, a member of the group said on Tuesday. The remarks by Professor Mauricio Tolmasquim, tapped last week to participate in the mining and energy group of the transition process, came after a meeting in Brasilia. A second member of the team, Senator Jean Paul Prates, said that Lula was expected to make decision on who would be Petrobras' next chief executive by early December. Lula is set to take office from incumbent President Jair Bolsonaro on Jan. 1. Reporting by Roberto Samora in Sao Paulo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: COP27 does little for next month's global agenda: nature loss
▼ + stars: | 2022-11-21 | by ( Gloria Dickie | ) www.reuters.com time to read: +4 min

Many environment ministers and campaigners have said the climate talks should underline the importance of protecting nature to help to limit climate change. The "landmark" target of the draft Montreal deal proposes protecting 30% of the world's land and sea by 2030 - known informally as 30-by-30. The world's wildlife crisis is largely driven by habitat loss, with wild spaces turned into agricultural fields and cities, or degraded by pollution. But climate change poses an increasing threat as temperatures climb, pushing species out of their comfortable ranges. It encouraged parties to "consider, as appropriate, nature-based solutions or ecosystem-based approaches" to climate change.

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