Brazilian consumer prices rose slightly more than expected in the month to mid-June, statistics agency IBGE said on Friday, with Latin America's largest economy struggling to rein in high inflation even as its central bank pushes ahead with interest rate hikes.
Volkswagen AG is set to cut working hours and wages at its Sao Bernardo do Campo factory in Brazil as it grapples with a lack of auto parts and electronic components to assemble its vehicles. The metalworkers union of Sao Bernardo do Campo said on Wednesday it had agreed to a plan for the German carmaker to cut working hours by 24% and paychecks by 12% starting next month.
Volkswagen AG is set to cut working hours and wages at its Sao Bernardo do Campo factory in Brazil as it grapples with a lack of auto parts and electronic components to assemble its vehicles. The metalworkers union of Sao Bernardo do Campo said on Wednesday it had agreed to a plan for the German carmaker to cut working hours by 24% and paychecks by 12% starting next month.
Brazilian payments fintech Ebanx said on Tuesday it had laid off about 20% of its staff, joining billion-dollar tech companies across the country bracing for a gloomy economic landscape. Ebanx's dismissal of 340 employees is the latest in a wave of large Brazilian startups who have announced they are slimming down amid high inflation, shrinking capital pools, and rising interest rates.
Brazilian Economy Minister Paulo Guedes said on Tuesday that Brazil's accession to the Organization for Economic Co-operation and Development may "take some time," but stressed that the Jair Bolsonaro government is committed to the task.
Brazilian Economy Minister Paulo Guedes said on Monday that privatizing state-run oil firm Petrobras via migration to the "Novo Mercado" segment of the Brazilian stock exchange would increase its market cap from 450 billion reais to 750 billion reais. The Novo Mercado is a segment of the B3 exchange with stricter governance rules, including a single class of shares.
Brazilian Economy Minister Paulo Guedes is firmly against the idea of tax increases on the oil and gas industry, four ministry sources told Reuters, following days of government discussions about how to address political blowback over high fuel prices.
Brazil's real slipped on Monday, leading
declines across Latin American markets as worries remain about
restrictive monetary policy across the world, while Colombia
elected a former guerrilla as ...
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