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 […]
Lawyer hired to defend their rights also intends to hold accountable auditors of PwC 01/18/2023 Legal strategy targets personal assets of executives and the controlling group — Foto: Dado Galdieri/Bloomberg Minority shareholders of retail giant Americanas will request the Prosecution Service (MPF) in Brasília to investigate criminal responsibilities and freeze assets of those responsible for […]
Brazilian bank’s local subsidiary is the fastest-growing credit card issuer in the country 01/18/2023 David Vélez — Foto: Ana Paula Paiva/Valor Nubank will strengthen its presence in Colombia with a loan of up to $150 million from the International Finance Corporation (IFC), a member of the World Bank Group. The local currency loan over a […]
People of the forest learn to add value to cupuaçu seed with Instituto Amazônia 4.0 01/18/2023 Ismael Nobre — Foto: Carol Carquejeiro/Valor Hundreds or even thousands of mobile and dismountable chocolate factories distributed throughout the Amazon Forest, operated by local people, including indigenous people. The idea, which will start to be implemented in March four […]
Aim is to open more room for allies and non-elected politicians in boards 01/18/2023 Luiz Inácio Lula da Silva — Foto: Eraldo Peres/AP Less than a month after the beginning of its term, President Luiz Inácio Lula da Silva’s team is preparing a clean bill that aims to change the State-owned Companies Law. The goal […]
The project, however, still depends on environmental permits 01/17/2023 Maraey — a tourism-residential project run by foreign investors in Brazil — has reached an agreement with Marriott International to build three hotels on the property, located in Maricá, Rio de Janeiro state. In total, R$ 2.3 billion in investments are planned for the three structures. […]
Suppliers want to receive cash for new deliveries; shopkeepers fear drop in sales 01/17/2023 Americanas contacted sellers on Monday to reassure them about possible risks — Foto: Dado Galdieri/Bloomberg Americanas already faces difficulties negotiating with large suppliers and insurers, sources say. Among small shopkeepers who supply its online marketplace — the company’s largest business — […]
José Roberto Mendonça de Barros says new administration must define a fiscal anchor and send tax reform to Congress 01/17/2023 Jose Roberto Mendonça de Barros — Foto: Silvia Costanti/Valor Economist José Roberto Mendonça de Barros says that the fiscal package announced by the economic team is “positive, welcome, and healthy.” But it represents the first […]