Everything you need to know about Brazil investing
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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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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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