Painted on a whitewashed wall at its Rio de Janeiro home is Flamengo’s boast that it’s “the most loved club in the world.” The soccer team is counting on that affection to help rescue it from the taxman.
Brisa-Auto Estradas de Portugal SA, the country’s biggest toll-road operator, plans to step up cost cutting as traffic and toll revenue in Portugal may miss its target this year, Chief Executive Officer Vasco de Mello said.
What is happening in Brazil? Not so long ago, it was the toast of the global economy. More than 40 million Brazilians joined the middle class, the number of indigents plummeted, and the nation achieved the feat of reducing its legendary income inequality.
Brazil’s Supreme Court today allowed former aides of the ruling party to appeal sentences in a cash-for-votes scandal, further delaying the conclusion of the highest-profile corruption case during 28 years of democracy.