Brazil’s J&F Participacoes SA, the parent of the world’s biggest beef producer, postponed a planned junk bond sale three days after a surge in borrowing costs led a Brazilian oil company to scrap a debt offering.
Brazilian media baron Silvio Santos , who controls Banco Panamericano SA , was ultimately responsible for spotting accounting irregularities at his lender, and not Brazil’s central bank, the monetary authority’s President Henrique Meirelles told O Estado de S. Paulo .
Brazilian President-elect Dilma Rousseff appointed Alexandre Tombini as central bank president and vowed to keep the policies that helped her predecessor slow inflation to about 5 percent last month from as high as 17 percent in 2003.
Brazil’s former central bank head Henrique Meirelles accepted President Dilma Rousseff ’s invitation to lead the country’s Olympic authority, according to a government official with knowledge of the matter.
The yield on Brazil’s most traded interest-rate futures contract headed for an almost five-month high after central bank President Henrique Meirelles signaled the authority may raise interest rates in the months ahead.
Alexandre Tombini , Brazilian President-elect Dilma Rousseff ’s pick to head the central bank, will raise interest rates enough in his first weeks on the job to curb inflation, trading in futures contracts shows.