Brazil's federal police served search and seizure warrants against businessmen Daniel Vorcaro and Nelson Tanure on Wednesday as part of an investigation into alleged fraud at Banco Master, two sources familiar with the matter told Reuters. The raids are part of the second phase of a police operation launched ‌in November, which at the time led to Vorcaro's arrest on the same ​day the Brazilian central bank ordered Banco Master's liquidation. Vorcaro was later released, but had to wear an ankle monitor.

A judge at Brazil's federal audit court TCU said on Monday that he may consider measures to prevent the sale of assets during the liquidation of Banco Master, a mid‑sized lender shut down by the Brazilian central bank in November after months of liquidity problems, Reuters reported. Judge Jhonatan de Jesus also ordered an inspection of central bank documents that underpinned its decision to wind down Master.

Azul has received U.S. bankruptcy judge approval for its chapter 11 plan, clearing the way for a balance-sheet overhaul less than seven months after the Brazilian airline sought court protection, the Wall Street Journal reported. Judge Sean H. Lane of the U.S. Bankruptcy Court for the Southern District of New York approved the largely consensual plan, overruling objections from the U.S. Trustee related to third-party releases, exculpation provisions and certain fees.

Brazilian union Sindipetro-NF, one of the largest representing Petrobras workers, has rejected the most recent proposal by the state-run oil firm to end a 12-day-long strike, it said in a statement on Friday, Reuters reported. Sindipetro-NF represents about 25,000 workers in the oil industry, including ones in Petrobras' offshore oil platforms in the Campos basin, the second-highest for oil production in Brazil.

Brazilian airline Azul SA is the latest in a string of overseas carriers turning to chapter 11 in the US, becoming “bankruptcy tourists” to access legal protections largely out of reach in their home countries, according to a Bloomberg Law commentary. Azul’s bankruptcy plan, approved this month, slashes more than $2 billion in debt and allows it to reject aircraft leases it couldn’t easily shed at home. Other foreign carriers seeking chapter 11 in the US over the past five years include Avianca, LATAM, Grupo Aeroméxico, and, more recently, Brazil’s Gol Linhas Aéreas.

Brazilian budget carrier Azul SA, now backed by United Airlines Holdings Inc. and American Airlines Group Inc., expects a bankruptcy-triggered reduction of debt and a slew of renegotiated aircraft leases to help it generate a profit the next two years, Bloomberg News reported. The airline will refocus growth plans on the domestic market, though it will increase flights to the US to handle strong demand for World Cup soccer matches next summer, Chief Executive Officer John Rodgerson said in an interview. Azul will still accept deliveries of new aircraft from Airbus SE and Embraer SA.

Bankruptcy Judge Sean Lane on Friday approved Azul’s ‍debt restructuring, allowing the Brazilian airline to cut more than $2 billion in debt and raise capital through a new equity rights ‌offering and investment from ‌American Airlines and United Airlines, Reuters reported. Azul filed for chapter 11 protection ‍in New York ​in May, aiming to ​cut its debt and make ‍its business more resilient to market challenges like fluctuations in fuel prices and currency exchange rates.

Brazil’s central bank on Wednesday held its key interest rate steady at a steep level, as expected, and maintained its hawkish outlook as inflation remained above target, the Wall Street Journal reported. The bank’s monetary policy committee, known as Copom, kept its Selic rate at 15%—among the world’s highest levels—for a fourth consecutive meeting and gave no indication that a cut might be coming anytime soon.

In an executive order, Trump exempted dozens of Brazilian food products, including coffee and beef, from the 40% increased tariffs he imposed in an ill-fated attempt to help former President Jair Bolsonaro dodge a coup attempt trial, Bloomberg News reported. Together with prior exemptions, the move will leave many of the nation’s major exports free from heightened US duties, a victory for an agricultural powerhouse that ranks as the world’s largest beef and coffee producer and counts the US as its No. 2 trade partner.

A handful of Brazilian companies are disclosing exposure to Banco Master SA following the liquidation of the troubled lender and the arrest of its chief executive amid a sweeping corruption probe, Bloomberg News reported. Health-care provider Oncoclinicas reported holding 433 million reais ($81.1 million) in Master time deposits, known locally as CDBs.