Martha Beck

5 days ago | bloomberg.com | Giovanna Azevedo |Rachel Gamarski |Martha Beck

An Azul Airlines passenger aircraft prepares to land in in Rio de Janeiro. (Bloomberg) -- Brazilian airline Azul SA has cut deals with lessors, exchanged its debt and raised hundreds of millions in fresh cash in the past year in a bid to turn around its ailing finances. And yet, its efforts have done little to build confidence: Dollar bonds issued just months ago have lost more than a third of their value. The stock has slumped about 89% in the past year.

1 week ago | bloomberg.com | Martha Beck |Andrew Rosati |Giovanna Azevedo

The Central Bank of Brazil headquarters in Brasilia. (Bloomberg) -- Brazil’s real rallied after the central bank kept its options open for another interest rate hike amid above-target inflation and global economic uncertainty. Board members led by Gabriel Galipolo unanimously lifted the Selic to 14.75% late on Wednesday, as expected by nearly all economists surveyed by Bloomberg.

1 month 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 month 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.

1 month 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.