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Valor International 09/22/2020 22:14
Do you know what companies, banks, public bodies, hospitals and electronic investment and shopping platforms are doing with your personal information? Are you aware of the financial value attributed to such data? Have you been informed that your privacy and of your family evaporated and that because of this all are subject to constraints of disruptive nature? Has somebody told you that in downtown São Paulo there are people selling in flash drives databases that may include your tax ID, your residential address, where you work and how much you make per month, your bank data, names of your relatives, how much you have invested in stocks, etc.?
Valor International 09/22/2020 21:26
Correios, Brazil’s postal service, is now at the top of the federal government’s priority privatization list, says Economy Ministry’s new Special Secretary of Privatization Diogo Mac Cord de Faria. “The path of consensus now seems to be to privatize Correios,” he told Valor in his first interview after taking office, replacing Salim Mattar. Mr. Mac Cord says privatizing Eletrobras is also key but that this conversation is over from a technical standpoint and now depends on politics. For him, the 35-day strike of Correios’s workers, a 2.6% salary adjustment that will inflate the state-owned company’s payroll by R$200 million and the potential reliance on the Treasury in the future to shoulder expenses are new reasons to speed up the process.
Valor International 09/22/2020 21:26
The federal government is still trying to find a solution for Renda Brasil, a cash-transfer program devised to replace Bolsa Família. The topic was discussed Tuesday during a meeting by President Jair Bolsonaro, ministers, leading lawmakers and Senator Marcio Bittar (Brazilian Democratic Movement, MDB, of Acre). Mr. Bittar is the rapporteur of the 2021 budget and of the federative pact constitutional amendment proposal (PEC), a rearrangement of the revenue and obligation distributions among the different levels of government. According to one source, Mr. Bittar’s report with provisions regarding the spending cap — to trigger measures to cut expenses and reorganize the federal government’s budget — is virtually ready. The draft will reported.
Valor International 09/22/2020 21:26
The economic crisis caused by the novel coronavirus pandemic is expected to impact the auction of 5G, the fifth-generation technology standard for cellular networks. Telecom regulator Anatel’s Head Leonardo Euler de Morais said Tuesday that licenses prices and mandatory investments to expand the Brazilian network to small, disconnected cities must be reviewed. Mr. Morais told the audience of the event Painel Telebrasil that it is not possible yet to determine the effects of the crisis on the industry. He admits that key “variables” to define the business model that based the call for bids for the R$20 billion auction will likely change, as well as the weighted average cost of capital. “All of this will reflect on the conditions of the call
Valor International 09/22/2020 21:26
After the sluggish first half, the textile industry resumed production virtually at the same time that a new, record crop hit the market driving prices up. Data from trade group Abit show that since the companies resumed activity, in July, prices rose around R$2.70 a pound in the domestic market to R$3.35. Yet demand is expected to decrease and stocks to build up. A major textile buyer says prices are up because stocks were low when production resumed and suppliers took advantage of that to negotiate their cotton at higher prices. With a larger supply in the market now, prices are starting to fall, although current prices are still 26% up compared with the same period of 2019.
Valor International 09/22/2020 20:03
Quasar Flash, a startup that makes advances on receivables, closed a fundraising of R$25 million in a round led by the Valor Capital Group, from the US. The resources will help it to expand investments in people and technology. With customers ranging from individual microentrepreneurs to companies with annual earnings of R$20 million, Quasar Flash offers duplicates discount and plans to carry out credit operations with guarantee on credit card receivables starting in November – when the Central Bank (BC) rule on these assets. “We want to operate among the smallest companies, in the least-assisted group ,” says Carlos Maggioli, founding partner and president of fintech.
Valor International 09/22/2020 20:02
Electric utility company Companhia Paranaense de Energia, Copel, is looking into expanding its business in the energy generation and transmission segments, with preference in brownfield assets. “Renewables are the 'sexy' assets in the market, we pay close attention to that,” CEO Daniel Slaviero says. The executive did not comment on preferences for generation sources, but stated that the company needs to “break the solar barrier,” a source that does not yet have in its portfolio.
Valor International 09/22/2020 20:01
The luxury real estate market is hot in São Paulo. Low interest rates, the desire for larger spaces by people working from home because of the pandemic and the limited offer resulted in strong demand for high-end properties. Investors are also looking to avoid the volatility of the stock market. “People are spending more time at home and they want to live well,” says Mauro Silvestre, CEO of Construtora São José, one of the several developers benefiting from the trend.
Valor International 09/22/2020 20:00
The wave of IPOs in Brazil is exaggerated, says founder partner at financial consultant One Partners, Bernardo Parnes. According to him, banks are approaching companies to sell the idea that the moment is right for an initial public offering, but “not all companies are prepared to debut in the stock market.” Mr. Parnes believes that the market can’t absorb so many offerings and that is why some were canceled or received lower price than expected.
Valor International 09/22/2020 18:37
The minutes of Central Bank’s Monetary Policy Committee (Copom) published Tuesday morning sends a dovish message despite last week’s decision to give up injecting new stimuli in the economy. Interest rate cuts are still a possibility if necessary and the requirements to lift the signals that the bank will keep Selic, Brazil’s benchmark interest rate, extraordinarily low in the future are strict.
Valor International 09/21/2020 21:26
The analysis of a request to prevent oil giant Petrobras from selling its refineries already has three votes against the government in the Federal Supreme Court (STF). Justices Ricardo Lewandowski and Marco Aurélio Mello followed the vote of the rapporteur, Edson Fachin. By this edition’s close, eight justices still had to vote virtually. The analysis is being made at the request of the Senate, which reports a government maneuver to privatize state-owned companies. The Bolsonaro administration is allegedly creating subsidiary companies to sell them without the need for authorization from Congress.
Valor International 09/21/2020 21:26
The government is working to present this week the second stage of its tax reform proposal, including a new tax on financial transactions similar to now-defunct CPMF to pave the way for a payroll-tax cut. The strategy behind this move, if it indeed materializes after several unsuccessful attempts, is to try to get enough support in Congress to uphold the veto on a payroll-tax cut aimed at 17 sectors for another year.
Valor International 09/21/2020 21:25
Acesso Digital, a Brazilian technology company focused on digital identification, received a contribution of R$580 million from funds led by General Atlantic and Softbank. The company will get almost all the investment and did not disclose the minority stake sold. The transaction valued the startup at more than R$1.2 billion. The talks for the injection were driven by the pandemic because of a higher interest in digital identification services for fraud prevention. Besides that, the company sees opportunities to set foot in sectors where it did not operate, such as health and education.

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