This tag is associated with 12 posts

Downgrade Points To Continued Brazil Underperformance

By Marc Chandler, Marc to Market Blog (from my colleague Dr. Win Thin) Fitch’s downgrade on Wednesday is a stark reminder that Brazil continues to suffer from a toxic mix of high inflation, recession, low commodity prices, and heightened political uncertainty.  Because we see no end in sight for these negative factors, we believe Brazil assets will … Continue reading

What To Expect On The Fed’s Decision Day

By Jeffrey Moore The Federal Reserve is set to raise rates today for the first time in nine years. So how could the Fed’s decision affect markets and politics as the world moves into 2016? On December 15th, the Federal Open Market Committee (FOMC) began its two-day meeting that will result in a widely anticipated policy … Continue reading

Brazilian ETFs See Inflows After Impeachment Talks

By James Eugene Brazilian-focused exchange traded funds (ETFs) have recorded relatively large amounts of inflows after talks of Dilma Rousseff’s impeachment advanced.   According to data compiled by Bloomberg, the iShares MSCI Brazil Capped ETF enjoyed inflows of just over $94 million so far this month, approximately 4.7% of its market capitalisation. The iShares Ibovespa, … Continue reading

Brazil’s Energy Profile – Analysis

By EIA In 2014, Brazil was the eighth-largest energy consumer in the world and the third-largest in the Americas, behind the United States and Canada, according to BP statistics. Total primary energy consumption in Brazil has nearly doubled in the past decade1 because of sustained economic growth. The largest share of Brazil’s total energy consumption … Continue reading

Petrobras: Bill Gates Apologises To Roussef For Litigation “Misunderstanding”

After various online publications reported that the Gates Foundation started a series of U.S. class-action litigation claiming that years of corruption, including bribery, inflated the value of more than $98 billion of its stock and bonds as a “pervasive bribery and money laundering scheme”. The foundation allegedly would be suing Petrobras independently, suggesting this may … Continue reading

The Political Cost Of Corruption In Brazil

By Stratfor Global Intelligence In the wake of Brazil’s oil corruption scandal, the country’s ruling political coalition has all but fallen apart. The ongoing investigation of corruption charges against state-owned energy giant Petroleo Brasileiro has the Brazilian Democratic Movement Party (PMDB), a long-time ally of the ruling Workers’ Party, distancing itself from Brazilian President Dilma … Continue reading

More Woes For Brazil As Authorities Uncover Massive $6B Tax Fraud At Finance Ministry

Brazilian authorities said they uncovered a massive tax fraud scheme on Thursday at the Finance Ministry’s tax appeals board that could have cost taxpayers up to 19 billion reais ($5.96 billion), Reuters reports. The news of the alleged tax evading practices comes at a particularly troublesome time for the nation as it is still reeling from a multibillion-dollar corruption … Continue reading

Brazil ETF Stung Following Petrobras Downgrade

By Todd Shriber, ETF Trends Shares of Petrobras (NYSE: PBR), Brazil’s state-controlled oil company, were off 7% Wednesday on volume that appears likely to eclipse the daily average after Moody’s Investors Service lowered its rating on Latin America’s largest publicly traded oil producer to junk. That is proving to be bad news for the iShares MSCI Brazil … Continue reading

Protests Will Test Brazilian Government’s Resolve

By Stratfor Global Intelligence Social movements and activist groups are just one more challenge Brazil will face in a year of economic slowdown and political scandal. Protests over public transportation costs, land reform, work conditions and other issues have been on the rise in recent years and will test Brazilian President Dilma Rousseff’s second-term reform … Continue reading

Petrobras’s Lesson For Latin America

By Hana Fischer In the wake of the scandal surrounding Brazil’s state-run oil company Petrobras, we would do well to analyze the role of state enterprises in the Americas. Codenamed Lava Jato, or “car wash,” the investigation into Petrobras operations by police and public prosecutors revealed a colossal corruption scheme involving former top executives, construction companies, and … Continue reading

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