Edition:
United Kingdom

Carolina Mandl

Brazil's XP acquires controlling stake in eye hospital

01 Jun 2020

SAO PAULO, June 1 A private equity fund managed by Brazilian digital broker XP Inc acquired a controlling stake in eye hospital CBV for 200 million reais ($37.48 million), XP's executives said on Monday.

Brazil securities regulator probes reinsurer IRB, asset manager

26 May 2020

SAO PAULO Brazilian securities regulator CVM on Tuesday said it was opening a broad investigation into reinsurer IRB Brasil Resseguros SA along with its management and shareholders.

Brazil's Votorantim posts $597 mln Q1 loss, hit by Nexa mine

21 May 2020

SAO PAULO, May 21 Votorantim SA, one of Brazil's biggest diversified holding companies, posted a first-quarter net loss of 3.4 billion reais ($597 million), reversing a 4.4 billion real profit from a year earlier, as a weaker currency boosted debt servicing costs.

Banks, Brazil's stock exchange to skip Sao Paulo early holidays

19 May 2020

SAO PAULO Brazilian banks followed stock exchange operator B3 SA on Tuesday and announced they will keep normal hours this week despite plans by Sao Paulo city and state officials to declare an extended holiday to get workers to stay home and curb the spread of the novel coronavirus.

Brazil's airline rescue plan shrinks further to $680 million

14 May 2020

SAO PAULO/RIO DE JANEIRO Brazilian state development bank BNDES proposed a rescue package worth 4 billion reais ($680 million) for the nation's airlines, less than half the amount initially anticipated, Azul SA's Chief Executive John Rodgerson said on Thursday.

Brazil's political turmoil raises cost, keeps companies on sidelines of bond market

14 May 2020

SAO PAULO, May 14 As Brazilian President Jair Bolsonaro kept his name in the headlines over the last weeks by firing ministers and attacking governors, the Supreme Court and Congress, investors fretted over the prospect of a political crisis on top of the coronavirus pandemic.

Brazil's BTG Pactual pushes back retail banking due to COVID-19

12 May 2020

SAO PAULO Brazilian investment bank Banco BTG Pactual SA is delaying the launch of its new consumer banking platform by three to four months due to the coronavirus pandemic, Chief Executive Roberto Sallouti said on Tuesday.

Exclusive: Lack of financing for buyers may extend delay in Petrobras refineries bids - sources

12 May 2020

SAO PAULO Lack of financing for the buyers of Brazil's Petroleo Brasileiro SA refineries may extend the delay in the sale process, three people with knowledge of the matter said.

Exclusive: Brazil bank Banrisul aims to sell card business, close to hiring JPMorgan - sources

11 May 2020

SAO PAULO Brazilian state-controlled bank Banrisul is in talks to sell its card business, as its controlling shareholder, the state of Rio Grande do Sul, struggles with a sharp drop in tax revenue, two sources with knowledge of the matter said.

Exclusive: Brazil bank Banrisul aims to sell card business, close to hiring JPMorgan - sources

11 May 2020

SAO PAULO Brazilian state-controlled bank Banrisul is in talks to sell its card business, as its controlling shareholder, the state of Rio Grande do Sul, struggles with a sharp drop in tax revenue, two sources with knowledge of the matter said.

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