Schlagzeilen der internationalen Ausgabe von VALOR ECONÔMICO vom 14.5.2016

POLITICS

Temer defines priorities of his government

Acting president will focus on changing trade policy, pursuing economic stability and handing operations to the private sector

POLITICS

PT and Lula fear isolation in new political arena

Former president is again negotiating a broad leftist front with the support of social movements

POLITICS

Rousseff’s permanent removal isn’t yet a done deal

Senators of the new governing base believe Temer will have to negotiate to guarantee 54 votes

POLITICS

European CEOs expect a more stable environment for business

CEOs of Nestlé, Roche and Maersk cited corruption and lack of predictability as the main hurdles to be overcome in order to resume growth

BUSINESS

Jump in bad-loan charges hurt banks’ quarterly profits

Total set aside by the five biggest banks to cover credit losses was more than double their net income in the first quarter

COMMENTARY

Claudia Safatle

New government bets on expansion of investments

Michel Temer is expected to make a shift in the fiscal policy toward a sustainable trajectory of government debt

Ribamar Oliveira

Rousseff faces new battle in June

Federal Court of Accounts will say whether the president’s 2015 accounts should be rejected

Cristiano Romero

The new shield for the Central Bank

Autonomous Central Bank of Henrique Meirelles greatly outperformed the subservient BC of Alexandre Tombini

MORE NEWS

• ECONOMY

  More large companies start to seek bankruptcy protection

  
  Between January and April, requests from big firms rose 94% year on year
• AGRIBUSINESS

  Caramuru seeks strategic partner, but doesn’t rule out selling control

  
  Grain processor has hired Morgan Stanley in search of partner to help cover needed investments 
• BUSINESS

  Lojas Renner to open stores in Uruguay next year

  
  Neighboring country will host the Brazilian retailer’s first international operation
• POLITICS

  Senate votes for impeachment of Dilma Rousseff

  With 55 votes for her impeachment, president will have to step aside for up to 180 days; Michel Temer will call for national unity
• POLITICS

  Temer to share government with Congress

  
  The incoming president believes it's important to integrate executive and legislative powers to strengthen Congress role
• POLITICS

  Rousseff’s original sin: ignoring Lula

  
  Intermediaries say former president hoped to run for presidency again in 2014
• POLITICS

  Temer releases official list of ministers

  
  Henrique Meirelles is confirmed as Finance minister and José Serra will head foreign affairs
• ECONOMY

  Temer government may help economic recovery, albeit slowly

  
  Although GDP forecasts are being revised upward, economists warn of less intense and lower growth ahead
• POLITICS

  Temer advances in design of his future team

  
  Defense, Mines and Energy and Labor ministries yet undefined; acting president will head Chamber of Foreign Trade
• POLITICS

  Temer will have smaller base in Congress

  
  New administration is expected to have support of 250 to 300 deputies and will need specific negotiations with other parties for bigger changes
• POLITICS

  New economic officials have to tackle budget constraints

  
  Administration estimates it needs authorization for a deficit that’s R$30bn wider in order to be able to govern
• ECONOMY

  Ilan Goldfajn to be confirmed for Central Bank next week

  
  Michel Temer is expected to send proposal on Monday to grant immunity to the next central banker
• AGRIBUSINESS

  Brazilian “champion,” JBS will be based in Ireland and listed in NY

  
  Group intends to form JBS Foods International, which will account for 80% of its revenues
• MARKETS

  Brazilian companies prepare to resume bond offerings abroad

  
  Expected government change may bring back to market some frequent issuers that have about $8bn in debt sales in the pipeline
• BUSINESS

  Oi lays off 2,000 workers to cut payroll costs by 15% to 20%

  
  Telecommunications company intensifies efforts to reduce expenses and grapple with the economic downturn and fierce competition
• BUSINESS

  Privatized airports miss R$1bn payment to the government

  
  Groups led by Odebrecht and CCR decided to hold the payments claiming lack of financing and additional investments made
• AGRIBUSINESS

  As Tyson plans to invest outside the US, executives visit BRF plants

  
  Brazilian food company relaxed its poison pill and may become a vehicle for American giant to return to the country
• BUSINESS

  Payment processors gear up for increased competition

  
  Large merchant acquirers are preparing to operate without card exclusivities by the end of this year
• BUSINESS

  Crisis in health industry drives expansion of low-cost clinics

  
  Investments in five networks total R$500m, targeting patients with no health insurance
• ECONOMY

  Unions retreat in advocacy of more flexible labor rules

  
  Having before supported the idea of collective agreements prevailing over laws, they now fear crisis may sap their bargaining power
• ECONOMY

  Country downgrade cuts credit of Brazilian importers

  
  Companies are being forced to pay earlier or negotiate price discounts for their purchases abroad
• BUSINESS

  With declining profit, Caixa denies hidden problems

  
  Federal bank increases provisions for bad loans but says default rate has fallen slightly and there is no need for capital injection
• ECONOMY

  Concessionaires reach out to Temer to demand changes in financing 

  Companies that operate in highways and airports will ask potential new president to authorize the capitalization of an infrastructure guarantee fund 
• BUSINESS

  Low-income buyers abandon car market

  Spending power of today's buyers is higher than the levels bolstering car sales to new heights in the last few years
  
  
  
  

  China's CCCC to invest R$400m in private use terminal in Maranhão

  12:00 AM (GMT -03:00) – May 13 2016
  • China Communications Construction Company (CCCC) has just landed in Brazil. The Chinese infrastructure conglomerate’s first asset in the country will be a stake in the Private Use Terminal (TUP) of São Luís, in Maranhão, the multi-cargo project of WPR, controlled by the WTorre group. CCCC will invest R$400 million in the terminal, whose total project is budgeted at R$1.5 billion. In addition to the Chinese injection company’s injection, the project will raise R$1.2 billion in debt to be paid with revenues from the project. The TUP should be ready in three years, and work is slated to begin in the second half

    
    

    CSN to raise steel price, sell assets to pay down rising debt 

    12:00 AM (GMT -03:00) – May 13 2016
    • Showing debts and leveraging considered unsustainable by some market analysts, Companhia Siderúrgica Nacional (CSN) said that it would raise steel prices from June and during this quarter will announce the sale of an asset to lower indebtedness. CSN CEO Benjamin Steinbruch said in a conference call that the company would increase prices by 10% through its distribution network. The executive, however, didn’t say which asset the company planned to sell. CSN has carried out a series of price increases over recent quarters to offset rising costs of imported materials.