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

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.

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