A court in Sao Paulo on Tuesday accepted a request by Brazilian conglomerate Odebrecht to begin a corporate recovery procedure aimed at fending off bankruptcy at the scandal-tainted group.1 comment
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.
Ford Motor Co said it had reached an agreement with the workers’ union at a historic Brazil plant it plans to shutter by the end of the year, paving the way for a friendly shutdown or potential takeover by a local buyer.
China’s Huawei Technologies Co Ltd launched two high-end smartphone handsets in Brazil, making its second attempt to penetrate the world’s fourth-largest smartphone market, broadening its footprint in Latin America.
Pele was released from a Sao Paulo hospital on Monday, his Brazilian doctors said, two days after the football great had surgery to remove a kidney stone. The three-time World Cup winner was admitted to the Albert Einstein hospital last Tuesday, after returning from France where he had received treatment for a urinary tract infection.
Brazilian stocks topped 100,000 points for the first time Monday, on hopes for progress in President Jair Bolsonaro's promised pro-market reforms. The Ibovespa, the country's main index in Sao Paulo, hit an intra-day record of 100,037.69 before closing at its highest level ever of 99,993.93, up 0.86% from the previous trading session.
Two armed men wearing face masks entered a Brazilian elementary school on Wednesday and shot and killed at least six children who were on their snack breaks, as well as two school officials, before fatally turning their guns on themselves, police said.
Intense floods in Latin America's business hub Sao Paulo, which turned roads into rivers and tossed cars atop buildings and into trees, have killed at least 11 people, with authorities bracing for more rain.
Brazil's President Jair Bolsonaro has provoked controversy by posting an obscene video of two revelers at Carnival, saying he wanted to reveal the truth about the festival. The clip posted on Twitter shows two men engaging in sex acts on top of a taxi shelter during a street party.
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.