Situation may be comparable with other large court-supervised reorganizations and mean the largest hit for the financial industry since pandemic 01/26/2023 Case is likely to be biggest hit to banking industry since coronavirus pandemic — Foto: Dado Galdieri/Bloomberg The collapse of Americanas after the discovery of a R$20 billion “accounting inconsistency” earlier this month is […]
Study shows that searches on the Internet for the topic skyrocket after a certain point 01/24/2023 Brazilians begin to be bothered by the dynamics of prices when inflation is higher than 3.7% in 12 months, a study from MCM Consultores found. This means, in theory, that from this level on, consumers and companies start to […]
Brazil’s securities market watchdog wants to know if the accounting problem is restricted to Americanas 01/24/2023 There is a risk that this is not Americanas fraud only, but an accounting method used by other companies, expert says — Foto: Gustavo Minas/Bloomberg Brazil’s Securities and Exchange Commission (CVM) is questioning at least nine publicly traded retail […]
European commission vice president says he is pleased with the promise of zero deforestation 01/23/2023 Frans Timmermans — Foto: Divulgação “The eyes of the world are turned to Brazil”, says Frans Timmermans, Executive Vice President of the European Commission, and leader of the European Union international climate negotiations. The Dutchman, who is on a two-day […]
Brazilian exports of steel products totaled $9.3bn in 2021 and are expected to grow this year 01/23/2023 (USITC) The United States International Trade Commission (USITC) decided to lift the antidumping duty applied to Brazilian exports of carbon steel plate, in force since 1993. According to the Ministry of Foreign Affairs, the U.S. will no longer […]
Step is necessary before growing in Europe and Asia, says executive 01/20/2023 After speeding up online sales during the Covid-19 pandemic, navigating through high interest rates and inflation, Brazil’s retailers are now seeking efficiency instead of accelerated growth. Representatives of these companies visited the pavilions of the NRF 2023 retail conference, in New York, this […]
Rate fell for sixth time and is now at 8.1% 01/20/2023 Job creation was more modest, suggesting a slower start of 2023 — Foto: Marcelo Camargo/ABr The good performance of the labor market in 2022 showed signs of exhaustion again in November, but it remains heated. In line with other signs of deceleration seen in […]
Since January 12, when “accounting inconsistencies” were revealed, the stocks lost 91.6% 01/20/2023 Americanas filed for court-supervised reorganization after accusing creditor banks of executing “illegal withdrawals” — Foto: Divulgação In a session marked by the Americanas’s request for bankruptcy protection, accepted by the courts, and exchange of accusations between the company and its creditors, the […]
Also, CEO announced plans for better efficiency index than Brazil’s large banks 01/19/2023 João Vitor Menin — Foto: Silvia Zamboni/Valor Banco Inter wants to reach 60 million clients by 2027, CEO João Vitor Menin said on Wednesday during the company’s Investor Day. The bank outlined in the event a five-year plan with three goals, named […]
With low cash position, retail giant tries to reverse bank compensations while negotiating a standstill 01/19/2023 Company has R$800 million available in cash, sources say — Foto: Marcia Foletto/Agência O Globo Nine days ago, when Americanas presented the accounting inconsistencies to the market, the then CEO Sergio Rial pointed out a comfortable cash position to […]