Tag: Brazil

Tuesday, June 5th 2018 - 07:50 UTC
Walmart leaving Brazil after 22 years: 80% takeover by Advent

Walmart gave no price for the transaction, in which Advent takes an 80% stake in Walmart Brazil and leaves Walmart with 20%. But the Arkansas-based mega retailer said it would take a US$ 4.5 billion charge on the deal in the second quarter, much of that related to cumulative foreign exchange losses.
Monday, June 4th 2018 - 08:13 UTC
Brazilian manufacturing activity slows down for second month in May

The growth of manufacturing activity in Brazil slowed for a second straight month in May, a private survey showed on Friday, a sign that a weaker currency and political uncertainty are taking a toll on Latin America's largest economy.
Monday, June 4th 2018 - 07:06 UTC
Truckers strike is estimated to have cost Brazilian agriculture some US$ 1.77 billion

The 10-day-long Brazilian striking truckers protests are winding down and companies from meatpackers to soy crushers are resuming operations. Some problems persist in some sectors and will need time to recover. Primary estimates of losses for farmers' sector could reach US$ 1.77bn
Thursday, May 31st 2018 - 08:57 UTC
Paraguay will have a woman president for the first time in history

Paraguay will have a woman president for the first time in its history, at least temporarily, after outgoing leader Horacio Cartes decided to step down ahead of schedule. Vice-President Alicia Pucheta, 68, will complete Cartes' mandate after he resigned to become a senator.
Thursday, May 31st 2018 - 08:27 UTC
Debilitated Brazilian government challenged with an oil-workers 72-hour strike

Brazilian oil workers began a 72-hour strike on Wednesday in a new blow to President Michel Temer following a nationwide trucker protest that has strangled Latin America's largest economy for over a week. The strike affecting several rigs, refineries, plants and ports is the latest challenge for state-led oil firm Petrobras, whose shares have tumbled nearly 30% in two weeks over fears that political interference would unwind more investor-focused policies.
Thursday, May 31st 2018 - 07:40 UTC
Deal to compensate one of the world's most indebted oil company

Petrobras and Brazil’s government are “very close” to resolving a long-running dispute over an oil-rich offshore area, a deputy minister said, dismissing concerns a fuel pricing crisis had emerged as an obstacle in talks.
Thursday, May 31st 2018 - 07:20 UTC
Total denied environmental license to drill at the Amazon basin

Brazilian environmental agency Ibama this week rejected French oil company Total SA’s application for an environmental license to drill in the ecologically sensitive Foz do Amazonas basin. It is the fourth time that Ibama has rejected the application and requested additional information.
Thursday, May 31st 2018 - 07:02 UTC
Brazil's strike: massive losses: 70m chickens slaughtered; exports of soy, sugar and coffee cancelled

Striking truckers in Brazil have disrupted supplies and exports from one of the world's agricultural powerhouses, triggering the premature slaughter of millions of chickens as feed failed to reach farmers. The strike over high fuel prices has paralyzed Brazil, the top global exporter of soybeans, sugar, coffee and chicken.
Wednesday, May 30th 2018 - 09:39 UTC
Brazilian military “not worried”, with strikers; protests are protected by the Constitution

Brazil's Minister of Institutional Security Sergio Etchegoyen on Tuesday rejected calls to deploy military troops to break up protracted nationwide protests against fuel price hikes. Etchegoyen, a general appointed by President Michel Temer, said such a heavy-handed response was outdated.
Wednesday, May 30th 2018 - 09:35 UTC
Petrobras workers Wednesday strike was declared illegal

Brazil’s Superior Labor Court (TST) ruled on Tuesday that a 72-hour strike planned by workers of state-run oil company Petrobras was illegal, the office of the government’s solicitor general said.