Brazil

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Temer Moves To Cut Brazil’s Generous Pensions

President Michel Temer moved to lift Brazil’s retirement age to 65 from an average of about 54 as he tried to shore up market confidence in his government by reforming one of the world’s most generous social security systems, the Financial Times repo ...

Daily Headline - global.abi.org - 12/06/2016 - 23:07 - 0 comments

Ferrovial In Talks To Acquire Isolux Projects In Brazil

Spain's infrastructure company Ferrovial SA is in talks to acquire from its Spanish rival Grupo Isolux Corsan SA three power transmission projects in Brazil, according to a Ferrovial letter seen by Reuters on Friday. Isolux is undergoing debt restru ...

Daily Headline - global.abi.org - 12/04/2016 - 20:42 - 0 comments

Brazil's Oi Hints At Outright Debt-Stock Swap, Sources Say

Oi SA could scrap a proposed three-year restriction on creditors swapping part of their debt for equity, in a sign that Brazil's No. 4 wireless carrier wants to lure bondholder support to exit bankruptcy protection faster, two people with knowledge ...

Daily Headline - global.abi.org - 12/04/2016 - 20:43 - 0 comments

In Brazil, State Debt Is a Ticking Time Bomb

As revolutionary as the Temer government’s proposed public spending cap could be, it’s far from the only measure Brazil needs to prevent a fiscal debacle. Among the many dysfunctions dogging Latin America’s biggest democracy -- prolonged recession, a los ...

Daily Headline - global.abi.org - 12/04/2016 - 20:46 - 0 comments

Brazil’s Plunging GDP Crushes Hopes Of Temer Turnround

Brazil’s economy recorded its seventh straight quarterly contraction between July and September, disappointing hopes the new government of president Michel Temer could engineer a quick turnround in the fortunes of Latin America’s biggest economy, the F ...

Daily Headline - global.abi.org - 11/30/2016 - 21:31 - 0 comments

Glencore Highest Bidder In Auction For Distressed Brazil Sugar Mill

Commodities trader Glencore Plc presented the highest bid in an auction for the sale of a distressed Brazilian sugar mill and is well positioned to take control of the plant, a source with direct knowledge of the process said on Monday. The Swiss commodi ...

Daily Headline - global.abi.org - 11/28/2016 - 22:34 - 0 comments

Brazil Joins Paris Club Of Wealthy Creditor Nations

Brazil is to join the Paris Club of wealthy sovereign creditors, becoming the first large developing economy to enter the group for two decades, as deteriorating global credit conditions spur governments to improve co-ordinated debt relief efforts, the ...

Daily Headline - global.abi.org - 11/27/2016 - 18:06 - 0 comments

Brazilian Miner MMX Mineracao Files For Bankruptcy

MMX Mineracao e Metalicos SA , the mining company founded by former billionaire Eike Batista, has filed for protection from its creditors in a Brazilian court, citing slumping iron prices and economic adversity. In a securities filing late on Friday, MMX ...

Daily Headline - global.abi.org - 11/27/2016 - 18:10 - 0 comments

Dissident Creditor Group In Brazil's Oi Retains G5 Evercore As Adviser

A newly formed group of dissident bondholders in Oi SA has retained G5 Evercore to advise it in the Brazilian carrier's in-court reorganization, which has recently turned more protracted amid shareholder and bondholder rifts. In a statement distribu ...

Daily Headline - global.abi.org - 11/25/2016 - 00:56 - 0 comments

Lula’s Trial Set To Widen Rifts In Brazil

In what has already been a tumultuous year marked by the impeachment of former President Dilma Rousseff, Brazilians are bracing themselves for what promises to be Latin America’s trial of the century — the start of corruption hearings against her predece ...

Daily Headline - global.abi.org - 11/22/2016 - 21:35 - 0 comments

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