Brazil’s push to overhaul its costly social security system is a welcome step toward healing public finances and the economy, but is not enough to stabilize public debt or trigger a positive review on the country’s credit rating, directors at rating agency Fitch said on Thursday.1 comment
The founder of Brazilian automaker CAOA said on Monday he is negotiating with Chinese business executives to make a joint acquisition of a Ford Motor Co plant near Sao Paulo.
The Brazilian Grand Prix will move next year to a new purpose-built circuit in Rio de Janeiro that could be named after Ayrton Senna, the country’s president revealed on Wednesday. Amid uncertainty over the long term future of the current event in Interlagos is Sao Paulo, Brazilian president Jair Bolsonaro said that a switch of venues would happen in 2020 when the event moves to Rio.
One of Brazil’s best-performing hedge funds has been scooping up the shares of state-controlled oil giant Petrobras. Joao Braga and Marcos Peixoto, who manage US$ 1.3 billion (5 billion reais) at XP Asset Management, have increased their stake in Petrobras, making it the biggest holding of their XP Long Biased fund even as the oil producer’s rally has outpaced the benchmark.
Brazilian automaker CAOA, which produces vehicles with Korea’s Hyundai Motor Co and China’s Chery Automobile Co, is in talks to buy a Ford Motor Co plant in the country that is slated to close by 2019, according to sources reported in the Sao Paulo media.
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.
The mega-polis Sao Paulo, Brazil, home to tens of millions of people who live in the city and its sprawling outskirts, has a major scorpion problem that isn’t going away anytime soon.
Argentina and the UK have agreed that the second commercial air link between the Falkland Islands and South America, with a stopover at Cordoba, Argentina, will begin operational next October in coincidence with the South Atlantic summer tourist season, according to Martin Dinatale, an Argentine journalist who specializes in diplomatic affairs.
Brazilian President Jair Bolsonaro was in semi-intensive care in hospital on Monday following abdominal surgery and was set to stay in the hospital at least another week, his office said. Concerns of potential infection meant the medical team wanted more time to monitor the far-right leader, 63, after the operation a week ago to remove a colostomy bag, the office said.
Automaker General Motors Co is in talks to invest 9 billion reais (US$ 2.5 billion) in the Brazilian state of Sao Paulo over the next three years in return for tax incentives, newspaper Valor Economico has reported.