The 23-story Serrador building rises gracefully in downtown Rio de Janeiro, a rounded granite-and- glass art deco masterpiece that conjures the opulence of another era. Completed in 1944 and named for Spanish cinema-house promoter Francisco Serrador, it once held a luxury hotel with a nightclub that attracted a mix of Rio elites and visiting American movie stars.
A $2.6 billion airports auction this week will test Brazil’s ability to attract major operators and revamp infrastructure before the 2014 World Cup and 2016 Olympics after a first sale drew criticism for failing to do so.
Brazil is considering a request by Petroleo Brasileiro SA, the country’s state-owned oil company, to increase the amount of ethanol added to gasoline, said two government officials with knowledge of the discussions.
Petroleo Brasileiro SA’s decision to suspend investment in a $3.1 billion ethanol pipeline, the world’s largest, is spurring speculation the project will be scaled back and fail to lower fuel prices at the pump.
Petroleo Brasileiro SA , the Brazilian state-owned oil company, said its fuel distribution unit will cut gasoline prices by 6 percent as the government battles to slow inflation from its fastest pace in more than five years.