Francisco Soares, a 32-year-old Brasilia electrician, felt good about life two years ago when he started commuting in his first car, blasting the music and passing packed buses. Since then, bills started piling up, the cost of living jumped and last week he had to sell his wheels.
More than a hundred people were arrested and dozens wounded as police in Sao Paulo clashed with activists last night in the latest and most rowdy in a rising tide of protests against bus fare increases in Brazil.
Brazilian pension funds Funcef, Petrus and Previ will hold a 27.5 percent stake in the Belo Monte hydropower dam that will be built in the Amazon, Folha de S. Paulo reported , without saying where it got the information.
Emerging-market stocks rose, led by Philippine companies, on speculation falling deposit rates will spur demand for the nation’s equities. Hungarian equities tumbled to the lowest level in about a month.
Brazilian swap rates dropped for a fifth straight day after a newspaper report indicated that the central bank will wait until May to lift borrowing costs from record lows instead of an increase next month.
A probe into $12 million earned last year by Brazilian Cabinet Chief Antonio Palocci for consulting work while he managed President Dilma Roussef ’s election campaign was shelved on lack of evidence, the nation’s chief prosecutor said.