Brazil

• Friday, June 1st 2012 - 06:57 UTC

  Jaguar-Land Rover follows BMW puts plans to build a plant in Brazil on hold

  

  Jaguar Land Rover, the luxury car unit of India's Tata Motors has followed Germany's BMW AG in suspending plans to build a new plant in Brazil as tax changes and slowing growth have given premium auto makers cold feet about investing in a potentially lucrative market.

• Friday, June 1st 2012 - 06:37 UTC

  Discreet Brazilian congress: with no claimants panties are finally incinerated

  

  A pair of panties that fell out of a Brazilian legislator's pocket onto the floor of Congress two weeks ago has been burned after no one claimed them. Fifteen days ago, a group of federal deputies came running into Congress to vote on a bill related to cyber crimes, reported Brazilian newspaper O Globo.

• Friday, June 1st 2012 - 06:35 UTC

  Greater transparency and social communication for Brazil’s central bank

  

  Brazil’s central bank created a post on its board to improve transparency and communications two weeks after President Alexandre Tombini said it’s increasingly important for central banks to provide “forward guidance” to the market.

• Thursday, May 31st 2012 - 05:46 UTC

  Brazil cuts interest rate for the seventh time to a record low of 8.50%

  

  Brazil's central bank cut interest rates on Wednesday for the seventh straight time to a record low 8.50%, moving into uncharted territory in a bid to shield a fragile recovery from a gloomy global outlook.

• Wednesday, May 30th 2012 - 05:19 UTC

  Cosan buys BG stake in Brazil’s largest gas distribution company for 1.7bn dollars

  

  British natural gas firm BG Group Plc said on Tuesday it had signed a definitive binding agreement to sell its entire 60.1% stake in Comgas to Brazilian energy company Cosan S.A. for 3.4 billion Brazilian Reais, which is about $1.7 billion at current exchange rates.

• Tuesday, May 29th 2012 - 17:47 UTC

  Sweden’s Saab invests in Brazil’s aerospace defence industry

  

  Sweden's premier defense and security company, Saab, is strengthening its relationship with a Brazilian integrator of aero-structures. Saab, manufacturer of the Gripen jet fighter that has partnered in the past with the company Akaer, said it is now financially investing in the company.

• Monday, May 28th 2012 - 19:56 UTC

  Santander denies plans to divest from Brazil; affiliate represents 30% of the group’s profits

  

  Spain’s leading bank Santander denied any plan to sell its Brazilian affiliate full or partly, as was published in the Sao Paulo media following discussions with Bradesco, another top listed Brazilian bank.

• Monday, May 28th 2012 - 19:16 UTC

  Spanish King on high profile PPRR visit to recover “lost time and ground” in South America

  

  Spain’s King Juan Carlos will be travelling to Brazil and Chile in the first week of June to strengthen ties with two strategic associates and in preparation of the Ibero-American summit to take place in Cadiz. The King will be accompanied by Foreign Affairs minister Jose Manuel Garcia-Margallo and a business delegation.

• Monday, May 28th 2012 - 17:10 UTC

  Brazil pressing banks to lower loan rates by 30% and increase lending

  

  Brazilian banks must lower their lending rates by between 30% and 40%, and increase lending, without raising fees, to help spur economic growth, Finance Minister Guido Mantega said in an interview with the Folha de Sao Paulo newspaper.

• Monday, May 28th 2012 - 16:59 UTC

  Brazil has a plan to bolster subsidized credit to increase corporate investment

  

  Brazil has a plan to bolster subsidized credit aimed at increasing corporate investment with 45 billion Real (approx 22.5 billion dollars) from the country’s development bank, BNDES.