Sao Paulo Mayor Fernando Haddad is lobbying for federal aid to triple investment in Latin America’s largest city to 6 billion reais ($2.9 billion) a year by 2016.
Rodolfo Landim, who in 2007 helped Eike Batista set up an oil business before falling out with the billionaire, is competing with his ex-boss to extract crude and gas from northeastern Brazil.
Brazil’s real fell to its lowest level this year as Federal Reserve Chairman Ben S. Bernanke signaled the U.S. central bank may taper a stimulus program that has buoyed emerging-market assets.
Ethanol’s discount to gasoline shrank to the smallest in six days after a report showed a fourth week of supply declines.
Most Brazilian stocks climbed as Brookfield Incorporacoes SA led homebuilders higher after a report showed slower-than-forecast inflation in Brazil, outweighing losses by commodities producers.
Minerva SA, Brazil’s third-largest beef producer by market value, dropped to a five-month low as Russia suspended beef imports from one of its plants.
Coffee futures fell to the lowest in more than three years on mounting speculation that global supplies will exceed demand amid bumper crops in Brazil, the world’s top exporter.
Brazil’s government has frozen 28 billion reais ($13.7 billion) in its 2013 budget as it tries to meet its primary surplus target, Finance Minister Guido Mantega said.
Brazil will auction by December contracts to build power lines connecting as much as 6,900 megawatts of planned wind farms in an effort to ensure the turbines will be able to send electricity to the grid once they’re installed.
Minerva SA, Brazil’s third-largest beef producer by market value, dropped to a five-month low as Russia’s veterinary and health surveillance service suspended beef imports from one of its plants.