Although founded in Argentina, textile giant Alpargatas, now owned by Brazilian investors, has announced it will leave its country of origin due to financial difficulties.
Brazil's Ibovespa rose on Monday to the highest level in almost two years as an advance in crude oil lifted the shares of Petrobras while estimates for a faster economic recovery fueled bets on companies that rely on domestic demand.
Brazilian markets weakened on Monday after the acting lower house speaker in Brazil's Congress annulled an impeachment vote, though losses were pared as investors bet the move would delay rather than prevent leftist President Dilma Rousseff's removal from office.
Latinamerica’s largest power company Eletrobras, managed by the Brazilian government reported losses equivalent to 3.4bn dollars last year which were mostly attributed to a bill promoted by the administration of President Dilma Rousseff ro reduce electricity bills both for industry, agriculture and home consumption.
Russian investment bank VTB Capital and Brazilian peer BTG Pactual, two of the fastest-growing emerging market challengers to more established US and European rivals, are joining forces to help them to expand further.