A court decision in the Amazon rainforest city of Sinop that shielded a corn and soybean producer’s land from seizure by creditors is reverberating through Faria Lima Avenue, the Brazilian equivalent to Wall Street, Bloomberg News reported. The ruling is raising concerns among lenders that it may be harder than anticipated to take control of acreage pledged as backing for agribusiness receivables certificates, or CRAs, a class of relatively new fixed-income securities used to finance grain and oilseed growers.
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Brazil
Brazil's central bank chief said on Saturday that discussing monetary policy transmission will become increasingly difficult without addressing fiscal issues, citing the growing burden of public debt driven by expanded government spending, Reuters reported. Roberto Campos Neto stressed that income transfer programs implemented during the pandemic are now larger and have become permanent. In Brazil, 50 million people are "gaining money from the government compared to 43 million people who are employees and entrepreneurs," he added.
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Brazil is sketching out a plan to provide mid-sized companies with better access to the country’s capital markets, part of an effort by President Luiz Inacio Lula da Silva to bolster growth, Bloomberg News reported. The goal is to make it easier for companies to tap debt or equity markets, according to Marcos Pinto, secretary for economic reforms. The ideas, which are still being hashed out, include lowering fees associated with issuances and simplifying audit requirements, he said in an interview.
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Brazilian airlines, already struggling with high interest rates and volatile fuel costs, are being hit with more losses as currency woes and climate challenges test the sector’s operational resilience, Bloomberg News reported. Azul SA and Gol Linhas Aereas Inteligentes SA, two of the nation’s largest carriers, reported setbacks in the second quarter as a weakening Brazilian real and the closing of a key airport following torrential rains in country’s south dragged their earnings, quarterly reports showed this week.
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Natura &Co posted strong Q2 2024 earnings, but Avon's chapter 11 filing added challenges and a significant net loss, Finimize reported. Natura &Co surprised the market with better-than-expected core earnings for Q2 2024. The beauty giant reported net revenue of 7.35 billion reais ($1.34 billion), a 5.4% rise from last year, beating forecasted revenue of 6.78 billion reais. Adjusted EBITDA also climbed 14.2% to 803.5 million reais, surpassing the expected 763.8 million reais. Success in Brazil and Mexico drove this performance, as highlighted by the CEO.
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