NEWSLETTER AUGUST 2024
MURRAY ADVOGADOS
Entries by Gelcy Bueno
Embraer says Azul’s crisis will not affect sales
Airline expected to continue buying from Brazilian plane maker just like Gol continues seeking Boeing planes despite being in financial restructuring 08/30/2024 Azul’s financial restructuring is unlikely to affect Embraer’s sales, said Antonio Carlos Garcia, the plane maker’s chief financial officer. David Neeleman’s Azul is the only airline currently operating Embraer’s commercial models in Brazil […]
States’ security spending rises 14% above inflation in first half
Despite no constitutional spending mandates, states increase investments in public security amid rising concerns 08/30/2024 Ursula Dias Peres — Foto: Silvia Zamboni/Valor Despite the absence of budget allocations tied to specific revenue sources and the urgency highlighted by public opinion polls, public security has become an increasingly significant area of expenditure in Brazilian states. In […]
São Paulo ranks fifth among states with most wildfires in August
Fires surge by 915% following a series of incidents last week, leaving situation still worrisome 08/29/2024 The number of wildfires reported in São Paulo this month has increased by 915% compared to the same period last year. The only state with a worse outcome was Mato Grosso do Sul, where fire incidents rose by 1,825%. […]
Brazil’s top court threatens to ban Elon Musk’s X
Justice Alexandre de Moraes ordered Musk to appoint X’s new legal representative in the country within 24 hours 08/29/2024 Alexandre de Moraes — Foto: Rosinei Coutinho/SCO/STF Brazil’s Supreme Federal Court used its X account to announce a ruling by Justice Alexandre de Moraes against the social media platform. In the post, Mr. Moraes ordered Elon […]
Uncertainty about next steps for interest rates
Market has discussed need for rate hike in last weeks 08/28/2024 Igor Velecico — Foto: Silvia Costanti/Valor The mounting uncertainty regarding the direction of monetary policy has been significant in recent weeks. The perception of an economy resistant to slowing down has joined the U.S. dollar’s appreciation against the real this year, supporting a growing […]
Supreme Court rulings on tax bases may cost government R$119bn
Today’s agenda includes a Supreme Court review of excluding ISS from PIS and Cofins calculations 08/28/2024 Marcelo Montalvão — Foto: Divulgação Four disputes about excluding taxes from the base for calculating other taxes, to be settled by the Federal Supreme Court, could impact the Brazilian government’s finances by R$118.9 billion, according to estimates from Brazil’s […]
Public spending watchdog sees significant risks in budget projections
Concerns arise over optimistic revenue estimates and tightening discretionary spending amid fiscal constraints 08/26/2024 Antonio Anastasia — Foto: José Cruz/Agência Brasil As the Executive branch prepares to send the 2025 Annual Budget Act (PLOA) to Congress in about a week, Brazil’s public spending watchdog TCU has concluded that the government’s projection for next year’s primary […]
Environment minister suspects of arsons, calls Federal Police
With Brasília covered in smoke, President Lula calls an emergency meeting; minister says there is an “unusual situation” 26/08/2024 Smoke from fires in the Amazon covered Brasília on Sunday — Foto: Eraldo Peres/AP On Sunday, Environment Minister Marina Silva compared the fires in São Paulo to the “Day of Fire” in 2019. In light of […]
With foreign investor interest, port sector prepares for M&A spree
Wilson Sons, CLI, Porto Sudeste, Santos Brasil among possible assets for sale 26/08/2024 Ports in Brazil, such as Santos, have a strong correlation with agribusiness and the oil and gas sector — Foto: Divulgação The Brazilian port sector is heading towards a new wave of mergers and acquisitions (M&A), as the interest of foreign investors […]