The crash in corn prices is spilling over into soybeans. As a result, Brazil will grow more of the higher-value oilseed, helping push global markets into a record glut and replacing the U.S. as the top producer.
Vale SA, the world’s biggest iron- ore producer, agreed to pay 22.3 billion reais ($9.6 billion) to settle a decade-long tax dispute with Brazil over profits of its foreign units, ahead of a deadline tomorrow.
President Dilma Rousseff said her government will help fund a subway project in southern Brazil, part of $23 billion dedicated to transportation-spending projects spurred earlier this year by angry Brazilians.
Brazil’s plans to reform soccer after decades of mismanagement won’t include an English Premier League-style model because it would weaken the national team, according to the government official overseeing the sport.
Brazil’s state airport operator Infraero is behind schedule on work at seven airports in cities that will host World Cup soccer matches next year, newspaper O Globo reported, citing a survey conducted by the company.
OGX Petroleo & Gas Participacoes SA, the worst-performing major oil stock this year, surged the most on record amid speculation Eike Batista will cede control of the company and as the former billionaire’s mining unit sold assets.