News & Articles

News & Articles

The Chamber brings you the latest news articles and market intelligence.

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11/05/08 MEMBER NEWS: TAM is the Most Punctual Brazilian Airline in October

In first ten months of year, company recorded 85.5% punctuality on average, three percentage points better than the market average TAM Linhas Aereas (Bovespa: TAMM4 and NYSE: TAM) closed October with 90% of flights operating...

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11/04/08 A Bright Spot in Tough Times

WHOEVER says the entire world needs to deleverage hasn’t paid attention to what’s happening in Brazil. Banco Itaú’s $15 billion takeover of a rival, Unibanco, should change that. The deal, announced Monday, creates Latin America’...

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11/04/08 Brazil's Industrial Production Rose 9.8% in September

Brazil's industrial production rose more than forecast in September, a month before the global credit crisis hit Latin America's biggest economy. Output rose 9.8 percent from a year ago, more than the 8.6 percent median forecast...

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11/03/08 Itau Agrees to Acquire Unibanco, Creating Brazil's Biggest Bank

Banco Itau Holding Financeira SA agreed to acquire Uniao de Bancos Brasileiros SA in a stock transaction, creating Brazil's biggest bank as fallout from global market turmoil spread to Latin America's largest economy. The...

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11/03/08 MEMBER NEWS: Linklaters adds Alberto Luzárraga as partner in New York

Appointment adds significant cross-border experience to US corporate and M&A practice Linklaters today announces the election of Alberto Luzárraga as a partner in its corporate / M&A practice group in New York.  Mr...

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10/31/08 Brazil Shouldn't `Underestimate' Credit Crisis, Meirelles Says

Brazilian central bank President Henrique Meirelles warned the country ``shouldn't underestimate the dimension of the crisis'' and said further measures may be needed to restore liquidity in the banking system. Meirelles, in...

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10/31/08 Brazil sees no recession, readies new credit lines

Brazil's top economic officials said on Thursday the global financial crisis will not push the country into a recession and that the central bank would unveil new credit measures for exporters suffering from a liquidity crunch. "...

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10/30/08 Fed supports emerging economies

The Federal Reserve's decision to lend Mexico, Brazil, South Korea and Singapore $30bn each marks both the spread of the financial crisis to the emerging world and the increased global significance of these economies. The move is...

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10/29/08 In Brazil, Biofuels Dream Is Already Reality

The Iowa farm Chuck Grassley calls home sits on 800 acres bursting with corn and soybeans. Though he bought it in the 1960s, his rural roots stretch back to his childhood, when his father set up a family agribusiness after World...

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10/29/08 MEMBER NEWS: AGCO Reports Third Quarter Results

AGCO Corporation, a worldwide manufacturer and distributor of agricultural equipment, reported record third quarter net sales of $2.1 billion and record net income of $1.04 per share for the third quarter of 2008. Adjusted net...

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10/29/08 MEMBER NEWS: Pinheiro Neto Advogados "most admired law firm in Brazil"

From Pinheiro Neto Advogados: It is our pleasure to announce that, for the third consecutive time, Pinheiro Neto Advogados has been named "The Most Admired Law Firm in Brazil", with 24 of our lawyers individually mentioned in...

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10/27/08 MEMBER NEWS: Brazil's Bradesco posts higher 9-months profits

Brazilian financial group Banco Bradesco posted on Monday a net profit of 6.015 billion reais ($2.59 billion) for the first nine months, up from 5.817 billion reais in the year-earlier period. Bradesco, Brazil's largest private-...

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10/24/08 Mexico and Brazil Step In to Fight Currency Declines

As Dollar Scarcity Puts Pressure on Peso and Real, and Squeezes Local Exporters, Central Banks Dig Into Reserves Underscoring the growing impact of the global financial crisis on Latin America, central banks in Mexico and Brazil...

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10/23/08 Brazil jobless rate unchanged at 7.6 pct in Sept

Brazil's jobless rate stood at 7.6 percent in September, unchanged from August, the national statistics agency IBGE said on Thursday. The unemployment rate compared to the 7.4 percent median forecast of 10 economists surveyed by...

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10/22/08 Brazil to allow state banks to buy into other banks

Brazil's government said on Wednesday it would allow two state-controlled banks Banco do Brasil and Caixa Economica to buy stakes in other financial institutions. It also said it would allow the central bank to carry out swap...

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10/22/08 Brazil's Efforts to Prop Up Currency Cost $23 Billion

Brazil's efforts to shore up the falling local currency totaled $22.9 billion in the past month, including sales of foreign reserves, derivatives and loans. Sales of reserves to buy reais in the spot market totaled $3.2 billion...

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10/20/08 Brazil tests carbon reduction in Amazon forest

In the Juma forest reserve deep in Brazil's Amazon, conservationists will receive money from a Brazilian bank and a global hotel chain to protect trees and combat global warming. The project is seen as a test case watched by...

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10/20/08 Global Financial Crisis: Is Brazil a Bystander?

After the G20 finance ministers and the World Bank/IMF annual meetings in Washington last weekend, most Latin American ministers of finance returned to their countries with a somber outlook. As the global financial crisis...

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10/16/08 Years of conservative lending could leave Brazil unscathed

At Fábio Marangoni's printing works in São Paulo, pages of glossy magazines emerge almost silently from modern printing presses imported from Germany. Asked how much he borrowed to install the presses, Mr Marangoni replies with...

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10/15/08 Specialists comment on the impact of global crisis on Brazil at Chamber's event

"Given the altered weight of a set of countries, such as Brazil, time's are different," said Albert Fishlow of Columbia University this morning at the Brazilian-American Chamber of Commerce. Before the global slow-down, Brazil's...

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