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The Brazil Business and Politics Round-up June 11th 2018

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Politics

  • For US$ 807M, Brazil’s Government auctions off 3 of the 4 pre-salt oil fields The result demonstrated that the interventionist announcements made by the government concerning fuel price adjustments did not affect the appetite that companies had to take over the exploration and production sectors.
  • Electoral court issues first decision regarding fake news concerning the next election According to the decision, “exaggerated and effusive headlines containing untruthful information about candidate Marina Silva” will have to be taken down from the internet in the next 48 hours.
  • Law sanctioned by former President Lula complicates his situation as a prisoner In only four paragraphs, law 10,763 amended resolutions from the Criminal Code on white-collar crimes, determining, for example, heavier punishment for corruption, whose maximum sentence went from 8 to 12 years in prison.

Business

  • President Temer’s concessions to truck drivers open up other fronts in the crisis The concessions made by Temer to truck drivers have opened up other fronts in the crisis, involving governmental ministers, regulatory agencies, control entities, the country’s states and business owners and operators.
  • Public bank Caixa Econômica spent US$ 4.26 million in event for employees The event in case happened in the 2014 World Cup stadium Mane Garrincha, in Brasilia, was hosted by soap opera actors from Globo, the biggest TV in Brazil, and was organized to announce the bank’s goals for 2018 for 6,000 employees.

The Brazil Business and Politics Round-up May 28th 2018

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Politics

  • Truck drivers on strike after Diesel prices go up; Gas becomes rare in a matter of days Since the 21st approximately 300,000 truck drivers went on strike, causing road blockades in 25 states, affecting goods distribution in the country due to the adjustment of the price of diesel; the government has since then gave to many of the strikers demands
  • Michel Temer won’t seek re-election; Henrique Meirelles new MDB pre-candidate The two were together about 50 days ago on the party’s headquarters in Brasilia, announcing both as pre-candidates; Meirelles said he will seek the union of the Center
  • First to be arrested in the PSBD scheme, former governor surrenders The former governor of Minas Gerais, Eduardo Azeredo (PSDB) turned himself in to begin serving his sentence of 20 years and one month in prison for embezzlement of public funds and money

Business

  • Dollar closes below R$ 3.70 after major intervention by Central Bank Economists interviewed by the BC’s own Focus research now forecasts the Dollar the currency at R$ 3.43 by the end of the year and R$ 3.45 in 2019
  • Taxpayers to suffer the consequences of cheaper diesel for truckers As the government announced an agreement with truckers’ representatives to suspend their strike for 15 days, the promising to reduce the CIDE fuel tax on diesel will affect the pockets of taxpayers
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