Industries and markets

What is the Odebrecht corruption scandal in Latin America, and who is implicated?

“Odebrecht is a Brazilian construction firm that was involved in the building of venues for the 2016 Olympics and 2014 football World Cup. It triggered Latin America’s biggest corruption scandal when it admitted in 2016

Brazil’s best performing hedge funds bet heavily on Petrobras

“One of Brazil’s best-performing hedge funds has been scooping up the shares of state-controlled oil giant Petrobras. Joao Braga and Marcos Peixoto, who manage US$ 1.3 billion (5 billion reais) at XP Asset Management, have

Cost of Maya Train master plan, studies soars 710% to nearly 1bn pesos

“The projected cost of 120 million pesos (US $6.2 million) five months ago is now 972 million pesos (US $50.8 million).”

Bolsonaro cancels trip to New York where he was to be honored as “Person of the Year”

“Brazil’s President Jair Bolsonaro has cancelled a planned trip to the United States after protests from gay rights and environmental campaigners. Mr Bolsonaro was due to attend a ceremony in his honor in New York

Brazilian industrial production down 1.3% in March

“It was the biggest decline in six months, almost double the median estimate of a 0.7% fall in a poll of economists, and weighed heavily on the longer-term measures of industrial output.”

Brazil and Argentine currencies recover against a weaker US dollar

“MSCI’s index of Latam currencies rose 0.6% as regional currencies made impressive gains as the dollar slid.”

Brazil introduces Simple Credit Enterprises (ESC)

On April 24th, 2019, president Jair Bolsonaro has signed a law that introduces Simple Credit Enterprises (Empresa Simples de Crédito, ESC) to Brazil. The motivator behind the project is that Brazilian small and micro businesses

Agricultural machine makers anxiously waiting for Brazil’s new farm credit package

“Brazil’s government has for years subsidized interest rates on loans for farmers, due to a history of high interests in the country. The federal government pays banks the difference between the conditions it sets for

Chevron completes purchase of controversial Petrobras refinery in Houston

“Chevron Corp completed a US$ 350 million purchase of a refinery in the Houston suburb of Pasadena, Texas, from Brazil’s Petrobras, Chevron said in a statement. The sale was agreed to in January, but Chevron

Ford agreement with workers for a friendly shutdown of its historic plant in Sao Paulo

“The agreement would allow for Ford’s workers to transition from employment with the U.S. automaker to a potential buyer, if a deal closes. The pact includes an exit package for workers, although the details have