Brazil had its credit rating cut to junk by Standard & Poor’s on Wednesday after the close of markets, with a negative outlook. The downgrade sent the ETF that tracks Brazilian shares plunging in late trading. Here’s what lawmakers and investors are saying: MARKET REACTION: * Brasil Plural: "If the timing of the downgrade was... Continue Reading →

After months of trying to shore up Brazil's public finances, President Dilma Rousseff now faces political and business pressure to ease up on painful austerity measures in a country long hooked on the helping hand of a big state. Business leaders have supported the beleaguered Rousseff as she faces growing calls from political foes for... Continue Reading →

The Brazilian stock market, Bovespa, is down over 54% for the year to U$518 billion. The market value of the stock market is inferior to what Apple is worth in the NYSE which is U$640 billion. The these last 12 months the Bovespa value has tumbled from U$1.14 trillion to U$518 billion. Recession, currency devaluation,... Continue Reading →

The local currency advanced after China, Brazil’s largest trading partner, pledged to accelerate construction of some major projects and reduce companies’ tax burdens. The real also gained as President Dilma Rousseff’s administration was said to be studying a tax increase on Brazil’s top earners to raise revenue and narrow an expanding budget deficit. The real appreciated... Continue Reading →

A.P. Moeller-Maersk A/S’s oil unit cut $1 billion off its annual budget for capital expenditure after petroleum prices plunged. Maersk Oil plans long-term capex in the range of $2 billion to $4 billion a year compared with a previous range of $3 billion to $5 billion, according to an investor presentation in Copenhagen on Wednesday. The... Continue Reading →

The real advanced 1.3 percent to 3.795 per dollar at 9:27 a.m. in Sao Paulo as Brazil planned a foreign exchange credit line auction of up to $3 billion for Tuesday. Such auctions are designed to support the real. The central bank last held a similar auction in August. Swap rates on the contract maturing in... Continue Reading →

Tue Sep 8, 2015 7:47am EDT Reuters Brazil's 2016 inflation view rises for 5th week, to 5.58 pct BRASILIA, Sept 8 Economists raised their forecasts for Brazil's 2016 inflation rate for a fifth straight week, adding pressure on the central bank after it halted a nine-month-long cycle of interest rates hikes last week, a weekly... Continue Reading →