Everything you need to know about Brazil investing
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Vale proposes slashing dividend amid uncertain commodities outlook
Vale (NYSE:VALE) proposes cutting dividends even more than planned, looking to pay $500M for the second tranche of its 2015 dividend, half the $1B it proposed in January.The company says the reduction in the second dividend installment to ~$0.10/share (as of Aug. 31) reflects “the more uncertain scenario for mineral commodities prices and the focus…
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Barclays considering sale of investment banking business in Brazil
After disposing off its non-core assets in Portugal for โฌ175m (ยฃ128m, $189m) in early September, Barclays is now considering the sale of its investment banking business in Brazil and is open to talks with potential buyers. The move is part of the bank’s restructuring programme led by new chairman John McFarlane. According to Sky News,…
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JBS Announces the Conclusion of the Acquisition of Moy Park
JBS S.A. (“JBS” or “Company” – BM&FBOVESPA: JBSS3; OTCQX: JBSAY), in continuity to the announcement made in the Material Fact of June 21st, 2015, communicates to its shareholders and to the market in general, pursuant to CVM Instructions No. 10 and 358 of January 3rd 2002, as amended, that it concluded today the acquisition of…
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Telecom Italia may exit Brazil and towers, as deep review continues
Telecom Italia continues to go through the painful process of adjusting to the modern world, facing recessionary pressures at home and in its former growth engine in Brazil. Italy has been suffering from the Eurozone recession since the 2008 crash, and this has helped make Telecom Italia (TI) the center of persistent takeover rumors. It…
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Brazilian Real rebounds after central bank vows to intervene
โข The real enjoyed a massive rally on Thursday after the governor of Brazil’s central bank vowed to use “all instruments” available to policymakers to stem the currency’s recent slide.โข Busting a five-day losing streak, the real rallied as much as 7% intraday, its biggest gain since November 2008. โข On Wednesday, the bank announced…
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Brazil Announces Spending Cuts, New Taxes
On Monday, the government announced spending cuts and tax increases totaling almost $17 billion. The government said it plans to bring back the CPMF, a tax on financial transactions. The government hopes to raise more than $8 billion next year if Congress accepts the tax. However, many lawmakers oppose the measure. Other proposed cuts would…
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Brazil downgraded by S&P – loses investment grade
Standard & Poor’s stripped Brazil of its investment-grade credit rating on Wednesday, making it even harder for President Dilma Rousseff to regain market trust and pull Latin America’s largest economy out of recession. The faster-than-anticipated downgrade, which will likely hit Brazilian financial markets on Thursday, is a major setback for Rousseff as she tries to…
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