Legal disputes become a profitable asset for companies, attracting specializing firms 08/15/2024 João Mendes — Foto: Rogerio Vieira/Valor Brazilian companies are now exploring their legal contingent assets in search of alternatives to raise funds at a time of restricted access to capital, high interest rates, and more selective investors. By carefully examining their numbers in search of “assets hidden […]
Justice Flávio Dino freezes payments until lawmakers create rules for traceability, efficiency 08/15/2024 Flávio Dino — Foto: Antonio Augusto/STF Justice Flávio Dino of Brazil’s Supreme Court ordered the suspension of all mandatory parliamentary budget allocations until Congress establishes new guidelines to ensure transparency, traceability, and efficiency in the disbursement of these funds. Exceptions are made only for […]
Company seeks partner for energy business, plans to divest assets to reduce leverage ratio 08/14/2024 Benjamin Steinbruch — Foto: Rogerio Vieira/Valor CSN, the Brazilian steelmaker that holds a 12.9% stake in Usiminas, reiterated on Tuesday (13) that it will comply with the determination of the Administrative Council for Economic Defense (CADE), and more recently from the courts, […]
Despite three years without IPOs in Brazil, fixed-income securities sustain market activity 08/14/2024 Cristiano Guimarães — Foto: Gabriel Reis/Valor With the equities market stalling and many mergers and acquisitions (M&As) operations on pause, the revenue of investment banks operating in Brazil has dipped to the lowest level in at least seven years. So far this year, revenues from […]
Professionals anticipate COPOM will actualize monetary tightening following communication adjustments 08/13/2024 Genoa’s André Raduan, Itaú Asset’s Bruno Serra Fernandes, and Verde’s Luiz Parreiras — Foto: Divulgação Central Bank’s Monetary Policy Committee (COPOM) is anticipated to consider an increase in the Selic, the policy interest rate, during its next session. Leading asset managers, including André Raduan from Genoa Capital, […]
Motion received 308 favorable votes; final decision expected this Tuesday 08/13/2024 Alexandre Padilha — Foto: Cristiano Mariz/Agência O Globo Brazil’s Lower House of Congress approved on Monday the urgency motion with 308 votes in favor and 142 against to expedite the processing of the bill that establishes the rules for the operation of the management […]
Restructuring process involving assets in Europe, Asia, and Africa was halted 08/13/2024 Avon’s innovation center in Cajamar, São Paulo: Natura plans to lend $43 million to this subsidiary during the reorganization process — Foto: Daniela Braun/Valor Avon Products Inc. (API), a non-operating subsidiary of Natura and the Brazilian beauty brand’s holding company in the U.S., filed for protection from […]
Specialist managers increase transactions involving problematic assets 08/07/2024 Renato Azevedo — Foto: Gabriel Reis/Valor Companies facing financial distress and undergoing restructuring are increasingly being sold for nominal amounts, with buyers assuming the existing debts. A notable instance is the sale of the retailer DIA for €100 during its court-supervised reorganization process. Initially, the Spanish group attempted to divest the asset before […]
Meeting minutes reveal a more conservative stance than initial analyst interpretation 08/07/2024 Minutes from last week’s meeting state that Central Bank’s decision in September will depend on the economic developments until then — Foto: Divulgação/BCB The Central Bank of Brazil’s Monetary Policy Committee (COPOM) has indicated the possibility of a rate hike at its next meeting in September, while […]
While services data offers relief, concerns about the U.S. economy persist 08/06/2024 Ruy Alves — Foto: Leo Pinheiro/Valor Global markets plunged into panic amid mounting fears of a U.S. recession in Monday’s trading session. Risk aversion gripped investors from the early hours, starting with Japan’s stock market experiencing its second-worst day ever and continuing across global stock markets throughout the […]