MercoPress. South Atlantic News Agency
Bradesco buys HSBC operations in Brazil for 5.2bn dollars
Brazil's Banco Bradesco SA agreed to buy HSBC Holdings Plc's Brazilian unit for a surprisingly high 17.6 billion reais ($5.2 billion), narrowing the gap with larger rivals while boosting its base of affluent customers in Latin America's largest economy. Read full article
Comments
Disclaimer & comment rulesThe Brazilian financial system and the BRICS has systematically abandoning financial institutions and Western methods of payment.
Aug 04th, 2015 - 10:38 am - Link - Report abuse 0Credit cards Visa, Mastercard, Diners and American Express has been losing ground in the Brazilian market for ELO flag that is 100% Brazilian. The ELO cards are already being operated in Russia and soon also in China, India and South Africa.
Soon the international financial transfers from Western Union will be restricted to shipping or receiving shipments to the United States and Canada. It is already being implemented a system operated by the BRICS to replace Western Union and SWIFT worldwide.
In addition to minimizing dependence on Western financial institutions would be a way to end some of the sanctions imposed on Russia.
And now a beautiful video of Rio de Janeiro:
https://www.youtube.com/watch?v=u-nDipPw-jU&list=FLmXPTu1f8AdGlizWNiASx2A
Or possibly Western companies are leaving Brazil before it becomes Argentina, or even Venezuela?
Aug 04th, 2015 - 02:55 pm - Link - Report abuse 0And now....
How about a nice video of the dead dogs and raw sewage in the Olympic Aquatics waters?
C'mon brasso , they are easy to find! http://fusion.net/story/40671/why-brazils-summer-games-could-be-the-shittiest-olympics-ever/
@1 brasshole
Aug 04th, 2015 - 03:38 pm - Link - Report abuse 0“The Brazilian financial system and the BRICS has systematically abandoning financial institutions and Western methods of payment ”
Interesting statement.....and what is Brazil going to adopt in their place ??
The rest of your post is pure crap, too stupid to even read to the end.
It would seem that Bradesco have massively overpaid for the HSBC interests, they aren't laundering drug money are they?
Aug 04th, 2015 - 05:43 pm - Link - Report abuse 0Can't think of any other reason to overpay for something that may well be valueless in 12 months when Brazil implodes.
@4 ChrisR
Aug 04th, 2015 - 06:13 pm - Link - Report abuse 0It could just be another part of the 'kick-backs', bribes and corruption that seems to be endemic in Brazil.
Or plain stupidity.
Possibly both........
The rumors tell that HSBC has some shareholders who are involved in the Petrobras bribery and corruption scandal! So, I think that's a good reason for them to leave the country, once the down spiral will reach everyone involved, and that could spot their image in the world. But I am sure that, if they have somewhat to do with this shot, they'll be summoned sooner or later...
Aug 04th, 2015 - 08:10 pm - Link - Report abuse 0HSBC is selling “several underperforming businesses as part of the overhaul.”
Aug 04th, 2015 - 08:52 pm - Link - Report abuse 0Enough said.
7 Skip, what do you mean with “Enough said”?
Aug 04th, 2015 - 10:20 pm - Link - Report abuse 0HSBC has been in the news about money laundering...
check http://money.cnn.com/2015/02/18/news/companies/hsbc-bank-raid-money-laundering/
8. Brazil is going into a decade of slow growth/depression. This is the first of many companies pulling out.
Aug 04th, 2015 - 10:26 pm - Link - Report abuse 0That is what you said. On “D” their companies will not be here.
Aug 04th, 2015 - 11:19 pm - Link - Report abuse 0Socram... .welcome!
Aug 05th, 2015 - 01:33 am - Link - Report abuse 0So what. They have been in the news about money laundering. Does it change the fact that they are selling “several underperforming businesses“?
Nope!
Are they restructuring? Yes!
Perhaps because of the money laundering. However only an idiot would stop restructuring to react to realities.
It's why Brazil's economy is in the toilet. Their growth engine died and they prefer to stand around looking confused than restructure and really attack the economic constraints.
”HSBC has been in the news about money laundering”
And Brazil has been in the news about massive corruption!
Yeah, that's right... I just wonder how much of this corrupted money has been used to buy houses and increase the life quality of Americans, once so many Brazilians have been purchasing houses in the US over the last decades...
Aug 05th, 2015 - 02:53 am - Link - Report abuse 0While some countries have corruption, others sell weapons, while other undermine the cultural and economic life of so-called underdeveloped countries in order to install their new conquer philosophies...
I wish it could be posted here in Portuguese... That would be a problem for some people, (those who are not skilled in foreign languages, for example), while, on the other hand, we'd have not only biased opinions...
Just for the record, I think it's worth taking a look at this
http://www.foxnews.com/politics/slideshow/2014/12/25/top-political-scandals-2014/#/slide/veterans-health-care-scandal-ap-660
I don't really care what the corrupt politicians and businessmen did with their ill-gotten gains from Brazil. Or what happened to the money laundering done by HSBC. Lest to say that I think that the full story of HSBC is more likely to come out than that of Brazil's corruption.
Aug 05th, 2015 - 05:41 am - Link - Report abuse 0If corrupt money from Brazil ended up in the US, then that is fine. It doesn't affect me as I'm not American.
“While some countries have corruption, others sell weapons, while other undermine the cultural and economic life of so-called underdeveloped countries in order to install their new conquer philosophies...”
Ok! And?????????
Hard to find a country that hasn't done this sometime in their history. Russia is doing it right now in Ukraine. China is doing it right now in Tibet and Uighurstan. Venezuela is trying to do it in Guyana. Iran does it in Syria and Lebanon. You could probably even say that Brazil does it in Paraguay and places like Suriname. The world is more similar than dissimilar.
Of course posting here in Portuguese would be a problem for some, if not most, people. Who speaks Portuguese? Portuguese, Brazilians and maybe Angolans? It isn't exactly an important international language nor a lingua franca like English. There are about 4 times the number of English speakers in the world.
Judging a stranger's ability with languages based on their knowledge of Portuguese would be quite a silly thing to do when approximately 6.25 BILLION people don't speak it.
So, no I don't speak nor understand Portuguese. And from that statement you have no real knowledge of what languages I can speak or understand.
As for US scandals..... well I guess they aren't secret.
Just think, in April last year, Rousseff was saying that Petrobras had become the target of a malicious political campaign.......
@ 13 Skip
Aug 05th, 2015 - 11:16 am - Link - Report abuse 0Excellent analysis.
@10 brASSHOLE burro !
Aug 05th, 2015 - 04:12 pm - Link - Report abuse 0“That is what you said. On “D” their companies will not be here.”
care to translate ??
And, what about answering my question in # 3...
“Interesting statement.....and what is Brazil going to adopt in their place ??”
C'mon stupid, show us how smart you are. You can't , can you ?
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