Martha Beck

1 week ago | bloomberg.com | Cristiane Lucchesi |Rachel Gamarski |Martha Beck

Buildings on Faria Lima Avenue in the financial district of Sao Paulo, Brazil, on Friday, Sept. 1, 2022. Brazil’s economy surged past expectations in the second quarter, aiding President Jair Bolsonaro’s re-election bid and prompting Wall Street banks to raise their growth forecasts just a month before the vote.

1 week ago | news.bloombergtax.com | Cristiane Lucchesi |Rachel Gamarski |Martha Beck

Individual investors are trying to dump Banco Master SA bonds, pushing yields higher and making it tougher for the struggling lender to raise cash needed for short-term obligations. A total of more than 10 billion reais ($1.7 billion) in Banco Master time deposit certificates, called CDBs, are up for sale on retail online platforms at XP Inc. and Banco BTG Pactual SA, according to data compiled by Bloomberg.

2 weeks ago | bloomberg.com | Martha Beck |Rachel Gamarski

Brazil Central Bank President Gabriel Galipolo met with top bankers over the weekend as they sought to mitigate the impact of the sale of Banco Master SA, a smaller bank that had grown rapidly with backing from the nation’s financial safety net. The officials discussed the governance of the deposit-insurance fund, known as FGC, as well as the fate of Banco Master, according to people with knowledge of the matter.

1 month ago | financialpost.com | Clarice Couto |Martha Beck

The equity holding arm of Brazil’s state-owned lender BNDES, which owns almost 21% of JBS, will refrain from voting on the plan at the company’s upcoming board meeting, clearing the biggest hurdle for JBS’s listing, according to a regulatory filing. The deal was reached with J&F Investimentos SA, which controls the world’s largest meat producer.

1 month ago | bloomberg.com | Clarice Couto |Martha Beck

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