The Brazilian Report

🇧🇷🇺🇸 Haddad: Trump election won’t compromise Brazil-U.S. relations Finance Minister Fernando Haddad said that a Donald Trump victory in the upcoming U.S. election would not affect Brazil’s relationship with the U.S. on issues such as climate change. “It’s hard to give an opinion about an election in another country,” Mr. Haddad told reporters at a G20 meeting in Rio de Janeiro. “The relationship between both countries is very old and brings mutual benefits … I don’t see why a shift [in power] could risk this type of partnership.” Prediction markets (which foresaw Joe Biden dropping out of the race months ago) give Mr. Trump a 62 percent electoral college win probability against Kamala Harris, the de facto Democratic nominee. The former president’s chances, however, have dropped 2 points since July 20, when Mr. Biden was still in the race. 🔗Read more in our full article by Cedê Silva here 👇 https://lnkd.in/dyrzJk8G #Trump #Elections #US #Brazil #Diplomacy

🚀 Unlock Brazil's Business Insights with Our Weekly Roundup! 🇧🇷🌐 In this week's Brazilian Business News Roundup, we're your gateway to the latest and most impactful business happenings in Brazil. Our roundup covers the spectrum of the country's dynamic business landscape. 🌟 Subscribe for Your Weekly Essential Recap: Don't miss a beat in understanding Brazil's ever-evolving business environment. Subscribe to the Brazilian Business News Roundup for your essential weekly recap — your key to staying in the know and staying ahead. 🔗 Subscribe Now! 🌐✨ #BrazilBusiness #WeeklyRoundup #BusinessInsights #StayInformed

🗳️📊The state of key municipal races in Brazil Brazilians will go to the polls in October to elect mayors and city councilors in the country’s over 5,500 cities. Every time Brazil holds municipal elections, pundits rush to draw a connection between national and local politics, even if that connection can sometimes be flimsy. After far-right Jair Bolsonaro won the presidency in 2018, for example, 11 of the 13 candidates he endorsed for mayor in 2020 lost, including in cities where he had easily won two years earlier, such as in São Paulo, Rio de Janeiro and Belo Horizonte. At other times, however, the parallels are quite glaring. In 2016, the Workers’ Party of President Luiz Inácio Lula da Silva faced a popularity crisis — being soundly defeated in the biggest constituencies in the country. In São Paulo, then-incumbent Fernando Haddad (currently Finance Minister) lost his re-election bid in a first-round landslide by his conservative challenger, João Doria. 🔗Read more in our full article by Cedê Silva here 👇 https://lnkd.in/d84acAhi #Elections #MunicipalElections #SaoPaulo #RiodeJaneiro

🗺️#MAPS: Latin America's Olympic medal map With Latin American athletes already in action at the Paris 2024 Olympics since the beginning of the week — even before the opening ceremony held yesterday, July 26 — today we take a look at how the countries in the region have performed in the historical medal table. Important: This map only considers medals won before Paris 2024! Although small compared to countries like Brazil, Mexico, and Argentina, the Caribbean island of Cuba is the big boss in the Latin American medal rankings — both in golds and total medals. Brazil and Argentina come next. There are also Latin American countries that have never won an Olympic medal, including Bolivia, Nicaragua, El Salvador, and Honduras — they'll be hoping to change that this year. Will they manage it? Share your thoughts! #Paris2024 #Olympics #OlympicGames #Olimpiadas2024 #Sport #Medals

🔄🇻🇪Elections could be a turning point in Venezuela-Brazil relations After 26 years, Chavismo in Venezuela may be nearing its end, with polls showing Mr. Maduro likely to lose the presidential race to challenger Edmundo González. But Mr. Maduro may not step down without a fight. At a rally in Caracas last week, Mr. Maduro warned supporters of a potential “bloodbath” if his opponents win, calling for the “greatest victory in the electoral history of our people.” Lula, expressing concern over Mr. Maduro’s remarks, stated on Monday that he was “frightened” by the reference to a “bloodbath” and emphasized that the only path to normalcy for Venezuela is through a globally respected electoral process. This statement contrasted sharply with Lula’s 2023 defense of the Maduro regime, when the Brazilian president claimed that “the concept of democracy is relative.” Victor Del Vecchio, an attorney specializing in international law, currently in Venezuela, says Mr. Maduro has resorted to a “rhetoric of fear” due to the real risk of losing the election. 🔗Read more in our full article by Cedê Silva here 👇 https://lnkd.in/dVu9dvz8 #Democracy #Diplomacy #Elections

🎥#VIDEO Who are the Brazilians fighting for medals in Paris? Though most people are familiar with Brazilian football stars Vini Jr. and Marta, athletes from other disciplines remain largely unknown. For Paris 2024, the Brazilian Olympic Committee (COB) is optimistic about reaching the podium in 20 different sports, including canoeing, BMX cycling, rhythmic gymnastics, table tennis, and archery. In this video, we listed some Brazilian athletes who are being tipped to bring home medals from Paris. Watch the full video: https://lnkd.in/diXrUZkf

👁️☕Antitrust watchdog close to clearing sale of Starbucks Brazil The superintendent of Cade, Brazil’s antitrust watchdog, has approved Zamp’s acquisition of the assets comprising the Starbucks coffee chain in Brazil from SouthRock, a struggling holding company that filed for bankruptcy protection in late 2023. Competitors or other Cade board members have 15 days to challenge the deal before the approval becomes final. Zamp is a holding company that operates international food brands in Brazil, including Burger King and Popeyes. Mubadala Capital, one of the sovereign wealth funds of the government of Abu Dhabi, is a key shareholder. In early June, Zamp announced it had signed an agreement to purchase Starbucks Brazil’s assets for BRL 120 million (USD 21.6 million). However, control over the Starbucks brand in Brazil is part of SouthRock’s bankruptcy protection process, which requires that its sale occur through a closed bidding process overseen by business courts. The agreement grants Zamp priority in the bidding, giving it the right to match offers and potentially receive compensation if it does not win. 🔗Read more in our full article by Fabiane Ziolla Menezes here 👇 https://lnkd.in/dQrP2dU8 #Business #Debt #Bankruptcy #Finances

⚖️🤝🏿Nubank fighting NGO in court over black talent program A Miami-headquartered NGO, TalentoTotal, whose purpose is to accelerate the careers of high-potential Afro-descendant and Indigenous young professionals from underserved communities, is being sued in Brazil by Sitawi, an organization responsible for managing Give Back, a social impact fund created by Nubank. TalentoTotal’s founder, Gem McCreary, made the fight public weeks ago when he published details of the lawsuit through three posts on his LinkedIn page. The Give Back fund was launched three years ago by Nubank as part of its initial public offering and in partnership with the bank runners in the listing. 🔗Read more in our full article by Fabiane Ziolla Menezes here 👇 https://lnkd.in/dRZTbm4V #Banking #Racism #Tech #Inequality

🏅💰Brazil has a strong framework for financing Olympians, but lacks the funding for greater impact More than 40 percent of Brazilians have, at one point in their lives, dreamed of becoming a professional athlete. That dream is more common among low-income families (46 percent), compared to the richest (34 percent), as a career in sport is seen as a way to social mobility. However, factors such as lacking financial incentive (32 percent of those who played sports in childhood and adolescence) and money (27 percent) prevented many from chasing this dream. The findings come from a recent survey carried out by the company Serasa, in partnership with research institute Opinion Box, and reflects a well-known reality in the country. At each edition of the Olympic Games, public attention turns to the various cases of Brazilian athletes who need to resort to online fundraising campaigns, or who hold down second jobs while competing at the highest level of their sports. 🔗Read more in our full article by Alexia Massoud here 👇 https://lnkd.in/dDP8smkR #Olympics #PublicSpending #Finance #Paris2024

🤑 Fintech credit boom Happy Friday! Today, we talk about looser regulations for fintech lenders. The silent suicide epidemic among police officers. And the struggles of Brazil’s chemical industry. The National Monetary Council (CMN) this week approved changes made by the Central Bank to a 2022 resolution dictating the operating rules for two types of fintech lenders: Direct Credit Societies (SCDs) and Peer-to-Peer Lending Societies (SEPs). Changes. SCDs can now participate in Brazil’s Pronampe program for supporting small businesses, and the FGI fund, fueled by public credit and serving as collateral for loans for small and medium companies, managed by the country’s national development bank, BNDES. The federal government put BRL 500 million (USD 88.76 million) into the fund in May, which could enable up to BRL 5 billion in loans for businesses in Brazil’s southernmost state Rio Grande do Sul, recently devastated by floods. Now, fintechs will also be able to offer these credit lines, which in practice may expand the program’s reach. 🔗Read more in our full newsletter by Gustavo Ribeiro, Fabiane Ziolla Menezes, Isabela Cruz and Alexia Massoud here 👉 https://lnkd.in/daeceVvQ #Fintechs #Credit #Economy #Brazil