Überschriften der internationalen Ausgabe von VALOR ECONÔMICO vom 10.10.2016

MARKETS

Caixa to free up R$34 billion for mortgages

The bank has overcome limitations in funding, but faces weak demand for loans; also plans to transfer loan warranties to the Treasury

BUSINESS

Genish to step down from Telefônica

Chairman Eduardo Navarro will replace him in January; CEO Amos Genish does not plan retirement but for now will focus on his children

ECONOMY

Pay raise below inflation reaches 96% of state companies 

According to Planning Ministry, federal state-run firms are avoiding granting real wage increases in order to help fiscal adjustment 

ECONOMY

Pension costs exceed 30% of states’ personnel expenses

Disbursements on retirees and pensioners grow at faster pace than that of current workers, creating hurdles to complying with spending caps

BUSINESS

State Grid will create new power distributor in Brazil 

Chinese group plans to set up new unit after concluding purchase of CPFL, which could include a bid for Celg D and other Eletrobras distributors

COMMENTARY

Angela Bittencourt

Chamber vote will dominate market moves

Holidays lower liquidity but crucial vote on spending-cap bill and revamp of capital-repatriation law may trigger rallies

Claudia Safatle

Effects of PEC 241 vote on the economy

Government is marshaling its forces to approve reforms that might help Central Bank ease rates and bring optimism amid a still uncertain outlook 

Ribamar Oliveira

How to spend the repatriated money

Treasury Secretary Ana Paula Vescovi says funds that had been sent illegally abroad won't be used for new spending

MORE NEWS

• MARKETS

  Itaú expands high-income edge with Citi deal

  
  Deal does not herald major changes in competition for bank clients in Brazil, but still underscores importance of wealthy client segment
• BUSINESS

  BM&FBovespa program for state companies fails to draw participants

  Some companies are considering it but remain slow to join despite potential benefits
• POLITICS

  Spending-cap bill becomes even stricter

  Bill sponsor Deputy Darcísio Perondi changed proposal in a way that blocks creation of new spending without corresponding revenue 
• POLITICS

  Geddel guarantees key reform will be approved

  
  Top political negotiator of President Michel Temer says he is already in talks for Social Security proposal
• ECONOMY

  Petrobras speeds up reduction of losses on fuel prices

  
  State-run oil company managed to cut losses by 64% in September, to R$21.1bn year over year 
• AGRIBUSINESS

  Brazil’s grain harvest to hit record in 2016/17

  Estimates of National Supply Company point to 200m tonnes harvested next year amid possibility of favorable weather 
• POLITICS

  Temer studies provisional measure to solve Fies delays

  MP would clear R$1.1bn for the Ministry of Education and avoid jeopardizing the education of nearly 2 million students enrolled in the program
• BUSINESS

  EAS lines up $1.7bn order aimed at securing Petrobras leases

  Embattled shipyard wants to ensure operations after it delivers the last ship of an already scaled down contract with Transpetro
• MARKETS

  Mastercard leads push to expand card usage on public transportation

  
  Company launches pilot project in São Paulo and Rio to launch service that has gained popularity in other major world cities
• ECONOMY

  AGU seeks deal with Caixa to compensate savers in lawsuits

  
  New minister Grace Mendonça says biggest concern are Supreme Court cases that threaten public accounts
• BUSINESS

  Ready to invest, CCR wants review of concession terms

  
  Despite claiming being up to date with its financial and operating obligations, concessionaire plans to make adjustments in current projects
• BUSINESS

  Multiplus and Smiles face challenge from grey market

  
  Middlemen segment helps consumers trade unused miles, but loyalty programs complain they distort market amid lack of regulation
• BUSINESS

  Correios to seek new partner for postal bank

  Postal service to launch bidding for new 10-year contract after Banco do Brasil declines opportunity for renewal 
• BUSINESS

  Wave brings together senior executives to do business

  
  Using a new model, company plans to build the bridge between professionals and corporations
• BUSINESS

  Government will intervene in Transnordestina project

  State-owned company Valec could take over railroad project headed by CSN after failed request for new financing
• BUSINESS

  Bradesco’s R$100m bet on air conditioners

  Bank’s private-equity unit purchases 30% stake in retail chain Multi-Ar; owners argue that market consolidation creates opportunities
• BUSINESS

  Developers hit by consumer litigation

  
  Avalanche of consumer lawsuits seeking cancellation deteriorates even more already delicate finances of companies; PDG seeks new debt talks
• BUSINESS

  New sale model for BR attracts more investors

  
  Petrobras forwards pitch to 60 potential investors in BR Distribuidora, Brazil’s biggest fuel retailer and a key asset for its divestment plan
• ECONOMY

  Proposed changes to repatriation bill ease reporting requirements

  
  New version of the legislation leaves loopholes for possible past tax evasion and money laundering 
• BUSINESS

  Hospital da Bahia in talks to sell control to Fosun

  
  Chinese conglomerate plans to invest R$3bn to buy a stake and create hospital network in Brazil 
• ECONOMY

  Manufacturers fear damaging disclosures from stock reporting system

  
  Companies want to again postpone the operations of “Block K,” a new system offering real-time inventory data to state and federal tax officials
• BUSINESS

  Cargill develops soybean oil as a cosmetic product

  
  The company expects the product to account for 15% of soybean oil sales by 2020
• ECONOMY

  Fall in industrial output points toward another GDP drop

  Production of durable goods like autos still lags, but uptick in capital goods output offers a ray of hope 
• ECONOMY

  Ilan Goldfajn acts to temper market optimism over rate cut 

  Central Bank president signals that only lower inflation and successful economic adjustments will trigger monetary easing
• ECONOMY

  Reform proposal would end full heritable pensions

  Minimum age would rise to 65 years, with 15 and 20 year-transition periods for men and women, respectively
• ECONOMY

  BNDES goes green in new energy projects

  
  Development bank will focus on social and environmental returns and prioritize alternative sources, and even quit financing dirtier plants
• MARKETS

  Despite 100% rise, Petrobras consolidates leadership among stock picks

  Ecorodovias, Klabin and BM&FBovespa are the new recommendations for October’s Carteira Valor