Tag: Brazil

• Wednesday, February 20th 2019 - 09:34 UTC

  Latam Airlines expected to have a 51% controlling interest in Latam Brazil

  

  Chile’s LATAM Airlines Group SA has asked Brazil’s antitrust regulator Cade to boost its voting stake in LATAM Airlines Brazil to 51%, formalizing a controlling interest in Brazil’s No. 2 airline that for years it was unable to achieve because of local restrictions.

• Wednesday, February 20th 2019 - 09:17 UTC

  Ford closes oldest factory in Sao Paulo and exits heavy trucks business in Brazil

  

  Ford Motor Co. said on Tuesday it will close its oldest factory in Brazil and exit its heavy commercial truck business in South America, a move that could cost more than 2,700 jobs as part of a restructuring meant to end losses around the world. Ford previously said the global reorganization, to impact thousands of jobs and possible plant closures in Europe, would result in US$11 billion in charges.

• Tuesday, February 19th 2019 - 09:42 UTC

  IBM to launch research center on Artificial Intelligence in Sao Paulo

  

  IBM is set to launch a research center in the Brazilian city of São Paulo focused on development of solutions around artificial intelligence. The AI center will be the first Latin American institution of IBM's AI Horizons Network. It will be jointly run by the company and the São Paulo Research Foundation (FAPESP) to pursue “a disruptive research program”, with the potential to “promote paradigm shifts in AI.”

• Tuesday, February 19th 2019 - 08:39 UTC

  Brazil bans upstream mining dams following the Brumadinho disaster that killed 300

  

  Brazil's government on Monday banned new upstream mining dams and ordered the decommissioning of all such dams by 2021, targeting the type of structure that burst last month in the town of Brumadinho, killing hundreds of people.

• Tuesday, February 19th 2019 - 08:33 UTC

  Citigroup poised to boost revenue as advisor of Brazilian public asset sales

  

  Citigroup Inc expects to boost annual revenue in Brazil over the next years by advising potential public asset sales and through a revival in capital markets, its chief executive officer in Brazil told journalists on Monday. Marcelo Marangon said Citi expects its annual revenue in Brazil to grow to US$1.5 billion from US$1.1 billion over the next years. He did not specify a timeframe for the goal.

• Tuesday, February 19th 2019 - 08:25 UTC

  Bolsonaro fires head of president's office: “difference of opinion on important issues”

  

  Brazilian President Jair Bolsonaro on Monday fired one of his most senior aides and cabinet members, Gustavo Bebianno, amid a scandal involving campaign financing for some of his party's congressional candidates. Bebianno was secretary general of the president's office.

• Monday, February 18th 2019 - 09:57 UTC

  Bolsonaro learning the hard way: family and politics don't mix

  

  Brazilian President Jair Bolsonaro, one of his politician sons and his ultraconservative party were embroiled in a crisis on Sunday over a campaign finance scandal threatening the leader's anti-corruption image. The 63-year-old far-right president, who is just six weeks into his mandate, spoke with top officials in his government on Friday and Saturday to try to draw a line under the affair, after key allies turned on him.

• Monday, February 18th 2019 - 09:26 UTC

  Petrobras settling financial disputes: agrees to pay petroleum regulator US$ 940m

  

  Brazil state-run oil firm Petrobras said it had concluded a long-running dispute with the country’s ANP petroleum regulator, agreeing to pay 3.5 billion reais (US$ 940 million) to end an oil-royalty spat.

• Monday, February 18th 2019 - 09:18 UTC

  Brazilian soy crop estimate suffers small cut but corn is booming

  

  Brazilian agribusiness consultancy Safras & Mercado announced a small cut in its projection for the country’s 2018/2019 soybean crop in a statement on Friday, as weather stopped worsening in key growing regions. Safras cut its projection to 115.402 million tons from a 115.718 million-toe forecast in January, as the effects of a drought that has stressed fields subsided.

• Monday, February 18th 2019 - 08:50 UTC

  Another Vale tailings dam in Brazil in collapse danger: 200 residents evacuated

  

  Around 200 residents were evacuated from an area near a tailings dam in Brazil operated by Vale SA late on Saturday, amid fears that it was structurally weak and could burst like a similar barrier failure last month that killed some 300 people.