Everything you need to know about Brazil investing
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Brazil’s GDP contracted 2.6% in Q2 2015 from a year earlier, worse than expected
The Brazilian GDP (Gross Domestic Product) fell by 1.9% in the second quarter of 2015 compared to the first quarter of 2015, according to IBGE (Brazilian Institute of Geography and Statistics) announced on Friday (28). On an year-over-year basis, the decline was 2.6%. The GDP in the 1st half of 2015 decreased by 2.1% compared…
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JBS S.A. Announces the Successful Syndication of the Financing (Term Loan) for the Acquisition of Cargill Pork Business in the United States
JBS S.A. (BM&FBOVESPA: JBSS3, OTCQX: JBSAY, “JBS” or “Company”) communicates to its shareholders and to the market in general, pursuant to CVM Instruction 358 of January 3, 2002, as amended, that on August 18, 2015, through its indirectly controlled subsidiary, JBS USA, LLC, it has successfully syndicated to the market US$1.2 billion aggregate principal amount…
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TOTVS to acquire Bematech and create largest IT provider for retail in Latin America
TOTVS, one of the largest Brazilian IT companies, will pay R$ 467.4 million (US$ 130 million) in cash and R$ 82.5 million (US$ 24 million) in stock to buy 100% of Bematech, which specializes in automation for retailers. The operation should be voted on at a meeting of shareholders, on September 3. CADE, Brazil’s anti-trust authority has been notified.…
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Bradesco confirms favoritism and acquires HSBC Brazil for US$ 5.2 Billion
Bradesco has confirmed its favoritism and, in the early hours of Monday, has formalized the acquisition of HSBC’s Brazilian operations, as highlighted by HSBC in its earnings report. The purchase was made for US$ 5.2 billion, or R$ 17.6 billion. The Brazilian central bank was notified last night of the transaction outcome. Thus, the amount to…
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Copom raises interest rate in 0.5% to 14.25% per year and indicates an stable rate in the near future
As expected by the majority of the economists, the decision of the Central Bank was to raise the SELIC to 14.25% per year. The 0.5% increase is the seventh in the tightening cycle started last october. The raise was expected because the inflation is currently at the dangerously high levels, with the IPCA, the official…
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After Two Months of Contraction, Brazilian GDP Remains Stable in May
After two months of contraction, the Brazilian economy remained stable in May. According to the metric from the Central Bank (IBC-Br), the activity had a modest rise of 0.03% in May compared with April, when it had shrunk 0.88% (revised from 0.84%), in the seasonally adjusted series. May result was below the estimated by analysts.…
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Pão de Açucar (CBD) Post 6% Sales Growth in Q2. Highlight is Food Sales
Grupo Pão de Açúcar (NYSE:CBD) reported net revenue of R$ 16.1 billion in the second quarter 2015, representing an increase of 6% year over year. The food segment rose 6.4% on the same basis of comparison, to R$ 8.95 billion, and non-food has advanced 5.3% to R$ 7.17 billion. According to the company, the quarter…
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Disposable Income Drops 10% in 6 months in Brazil
The combination of high inflation with layoffs and wage loss caused a downturn of unprecedented proportions in disposable income for consumption in Brazil. The Monthly Employment Survey (PME) of IBGE shows that real wages decreased by 10% between November 2014, peak of recent years, and last May. In the crisis of 2003, a decline of…
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Petrobras to Pay R$ 2.2 billion to ANP – National Oil Agency
Petrobras (PBR) reported today, after the market close, that the Arbitration Court issued on July 2nd, an interim decision on the arbitration proposal by Petrobras regarding the resolution of ANP (National Agency of Petroleum, Natural Gas and Biofuels), which considers the concessions Baleia Anã, Baleia Azul, Baleia Franca, Cachalote, Caxaréu, Jubarte and Pirambu as a…
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