Usinas Siderurgicas de Minas Gerais SA, Brazil’s second-largest steelmaker, fell the most in almost two months after the country’s antitrust regulator ordered Cia. Siderurgica Nacional SA to reduce its stake in Usiminas.
Brazilian aluminum companies, producing at the lowest level in 12 years amid high power costs and metal price declines, expect authorities to ration supply as a drought curbs hydroelectric generation in the country.
Rio de Janeiro, the city that will host soccer’s World Cup final, has decreed three public holidays during the tournament to try to ensure the city’s growing traffic problems don’t interfere with the event.
The auctions for the concessions on the international airports in Rio de Janeiro and Belo Horizonte, Brazil, will not be held until next year, O Globo reported, citing unidentified government officials.
Authorities in Brazil’s third- largest metropolitan area, Belo Horizonte, expect 100,000 people to protest as the country’s national soccer team meets Uruguay tomorrow in the semifinals of the Confederations Cup.
Soccer governing body FIFA is rejigging plans for this year’s $5 billion World Cup in Brazil in case there’s a repeat of the civil unrest that surrounded last year’s Confederations Cup, a warm-up for this year’s event.
As protests turned violent near a stadium where Brazil’s national team was playing arch-rival Uruguay, legislators kept up a lawmaking spurt aimed at quelling the biggest street demonstrations in two decades by stiffening the legal penalty for corruption.