Martha Beck Journalist Profile

Articles

Moody’s Cuts Brazil Outlook, Delivering Fiscal Warning to Lula

1 week ago | bloomberg.com | Vinicius Andrade |Vinícius Andrade |Giovanna Azevedo |Martha Beck

Luiz Inacio Lula da Silva(Bloomberg) -- Moody’s Ratings lowered Brazil’s credit outlook to stable from positive, delivering a reproof to President Luiz Inacio Lula da Silva’s government at a time when it is under increasing pressure to shore up the country’s fiscal situation. The ratings firm, which upgraded the country in October, reaffirmed its Ba1 rating, one level below investment grade.
Brazil Politics: Government Fights to Save Contentious Tax Plan

1 week ago | news.bloombergtax.com | Daniel Carvalho |Martha Beck

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Brazil Finance Chief Pivots as Lula Lingers in the Limelight

2 weeks ago | bloomberg.com | Martha Beck |Simone Iglesias

Fernando Haddad(Bloomberg) -- Not long ago, Brazil’s finance chief was a rising star in the government of President Luiz Inacio Lula da Silva. Now, factors beyond Fernando Haddad’s control have put his political ambitions on hold. Haddad appeared well-positioned to take the baton from Lula in next year’s presidential election, after steering Latin America’s largest economy toward better-than-expected growth while simultaneously reining in his boss’s big-spending instincts.
Brazil’s Real Weakens on Talk of New Spending to Boost Lula

3 weeks ago | bloomberg.com | Martha Beck |Simone Iglesias |Leda Alvim

A vendor counts real bills at a street market in Rio de Janeiro, Brazil. Photographer: Dado Galdieri/Bloomberg(Bloomberg) -- The prospect of a government funded aid package to help boost the sagging popularity of Brazil President Luiz Inacio Lula da Silva sent the currency reeling on fears any extra spending would widen the country’s fiscal deficit.
Azul’s Financial Overhauls Do Little to Quell Market Worries

4 weeks 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.
Brazil Lifts Interest Rate to Nearly Two-Decade High of 14.75%

1 month 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.
Investors Try to Flee Struggling Brazil Bank, Upping Bond Yields

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.
Investors Try to Flee Struggling Brazil Bank, Upping Bond Yields

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.
Brazil Central Bank Head Meets With Bankers as a Lender Teeters

2 months 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.
JBS Moves Closer to US Listing After Deal With Key Shareholder

2 months 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.