Embraer eyes KC-390 sales to Poland, Turkey, Finland, minister says
RIO DE JANEIRO, April 2 (Reuters) - Brazil is in talks with Poland, Finland and Turkey for them to potentially purchase Embraer's (EMBR3.SA), opens new tab KC-390 military aircraft, Defense Minister Jose Mucio said on Wednesday at the LAAD conference in Rio de Janeiro.
"Negotiations to expand KC-390 are permanent and we are optimistic," Mucio said, after Sweden earlier this week confirmed it would buy four aircraft.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
4 hours ago
- Reuters
TRADING DAY Buoyancy trumping uncertainty
ORLANDO, Florida, June 10 (Reuters) - TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist I'm excited to announce that I'm now part of Reuters Open Interest (ROI), an essential new source for data-driven, expert commentary on market and economic trends. You can find ROI on the Reuters website, and you can follow us on LinkedIn and X. Global markets remain buoyant, awaiting the outcome of U.S.-China trade talks in London and U.S. inflation figures on Wednesday, both of which could have a bearing on guidance from the Federal Reserve next week and investor sentiment more broadly. In my column today I look at how the Trump administration's crackdown on immigration could cause labor market distortions and headaches for Fed officials. More on that below, but first, a roundup of the main market moves. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today. Today's Key Market Moves Buoyancy trumping uncertainty On the day The World Bank slashed global growth forecasts, warning of the "significant headwind" from tariffs and heightened uncertainty, global stocks clocked their fifth consecutive all-time high. Britain's benchmark FTSE 100 is a whisker from reaching new peaks and Germany's DAX hit an all-time high last week, while on Wall Street the Nasdaq and S&P 500 are within a couple of percentage points of new record levels also. Yet the reasons for equity investors to be fearful right now are plentiful - worries over growth, inflation, tariffs, long-term interest rates, U.S. debt and deficits, and the fact that China, the world's second-largest economy, is still mired in a low growth and deflationary funk. Something not quite adding up, right? Perhaps. On the other hand, the fiscal taps are being turned on in China and Germany, British finance minister Rachel Reeves outlines her multi-year 2 trillion pounds ($2.7 trillion) spending plan on Wednesday, and U.S. President Donald Trump's 'big beautiful bill' currently going through Congress is front-loaded with fiscal stimulus too. None of that is really fresh news but the upshot is a lot of liquidity coursing through the global economy. Right now it is something investors appear willing to accept even if the price is increased debt, and for the U.S. and UK in particular, worse public finances. Big corporate deals are being struck, like the OpenAI and Google cloud service tie-up and Meta Platforms reportedly paying $15 billion for a 49% stake in AI startup Scale AI, and implied equity and bond volatility is low. After a period of fretting more about deficits and spiking bond yields, investors may now be viewing the future with their glass half full. Fiscal stimulus is coming and interest rates around the world are being cut. The monetary outliers are Japan and the U.S., but the Bank of Japan could be near the end of its tightening cycle and the Fed may be about to begin easing later this year. On top of this, there's a general belief that Trump will back down from his hardline stance on tariffs and that a palatable deal with China will be reached, the so-called 'TACO' - Trump Always Chickens Out - trade. Fresh news on that front, at least, should be forthcoming on Wednesday. Trump immigration crackdown creates jobs distortions, Fed headaches Seismic shifts in immigration are distorting the U.S. employment picture, making it harder for investors and policymakers to know exactly how much the labor market is actually slowing. Assuming the Trump administration makes good on its pledge to reduce immigration, either by stopping the flow of people coming into the country or by deporting many already here, the labor supply will shrink. The long-term impact of lower immigration is generally agreed to be negative, as new workers are needed to replace retirees, fill job vacancies and drive economic growth. Over time, fewer new workers will likely mean lower growth. But in the short term, a smaller pool of workers results in a tighter labor market, which keeps a lid on the unemployment rate, albeit artificially and probably temporarily. This may already be playing out. Figures released last week showed that employment in May fell by 696,000 jobs. That's the biggest single monthly decline since the historic losses seen during the pandemic in early 2020. Some economists argue that the recent drop is a consequence of Trump's immigration crackdown. Nonfarm payrolls rose 139,000. Meanwhile, the unemployment rate held steady at 4.2%, which though higher than it was two years ago, is still historically low by any measure. All else being equal, this points to a tight labor market, which should put upward pressure on wages and perhaps even warrant a more hawkish policy stance from the Federal Reserve. But that is almost certainly a misreading. When labor supply and the labor force participation rate fall, this brings down a country's so-called 'breakeven' job growth. That's the number of net new jobs the economy needs to keep up with growth in the working-age population and maintain a steady unemployment rate. That figure is falling, and if the Trump administration toughens up its anti-immigration policies further, this decline is likely to accelerate. According to economists at Morgan Stanley, breakeven employment growth averaged 210,000 jobs a month last year, and is averaging 170,000 so far this year. They reckon it will fall to 90,000 by the end of this year and 80,000 next year. Ryan Sweet, chief U.S. economist at Oxford Economics, goes further, estimating that the breakeven rate is "quickly approaching" 50,000 jobs a month due to weakening labor supply growth, primarily because of reduced immigration. "The unemployment rate can remain low, but for the wrong reasons," Sweet says. If these projections prove accurate, monthly employment and job growth could continue to slow without raising the unemployment rate. The contradictory signals this sends could create confusion for both investors and policymakers. In his press conference after the most recent Fed policy meeting, Chair Jerome Powell repeatedly told reporters that the labor market is "solid". The unemployment rate "remains low," and the labor market is "at or near maximum employment." If these headline indicators are the gauge, Powell is absolutely correct. But he also stressed that policymakers are looking at the "whole huge array" of labor market indicators for a truer guide. One of those inputs in the months ahead will no doubt be net immigration. And that could generate significant uncertainty, as there are huge gray areas and wide margins of error when trying to estimate net immigration and its impact on the labor market. In January, the non-partisan Congressional Budget Office projected net immigration of 2 million people this year and 1.5 million next year, down from an estimated 3.3 million in 2023. With Trump seemingly hardening his stance on immigration, those projections could turn out to be far too high. Morgan Stanley's economists just slashed their immigration forecasts to 800,000 this year and 500,000 next year. If these figures turn out to be closer to reality, we could soon be looking at a "tight" labor market with monthly payrolls gains of well under 100,000. Pity the poor Fed Chair who has to communicate policy in that environment. What could move markets tomorrow? Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias.
Reuters
6 hours ago
- Reuters
Brazil's fiscal package to include higher tax on interest on equity
BRASILIA, June 10 (Reuters) - Brazil's Finance Minister Fernando Haddad said on Tuesday that the government's new fiscal package includes an increase in the income tax rate levied on so-called interest on equity (JCP) payments to 20% from 15%. JCP is a form of shareholder remuneration that allows companies to deduct such payments from their corporate tax base. Speaking to reporters, Haddad said that the decision to include the measure - previously proposed by the government but not voted on by Congress - came at the request of lawmakers. Haddad also confirmed that the fiscal package includes the unification of income tax rates on financial investments at 17.5%, replacing the current sliding scale of 15% to 22.5%, which varies according to the investment's holding period. The new rate would apply to all investments, including stocks and bonds, except those currently exempt from income levy, which would begin to be taxed at 5%, as Haddad had already disclosed on Sunday. The minister, who spoke after returning from a meeting with President Luiz Inacio Lula da Silva, said the additional revenue generated by the package would be used primarily to revise the previously imposed financial operation tax (IOF) hike on forfait operations. The IOF decree, which had been introduced to boost public revenues and also raised the tax on private pension funds and some credit and foreign exchange transactions, triggered strong pushback from both Congress and market players, prompting the government to seek an alternative path as lawmakers threatened to overturn the measure. Haddad defended the new fiscal measures on Tuesday, arguing that they are likely to support the strengthening of the Brazilian currency, pave the way for interest rate cuts, and help ensure compliance with this year's and 2026 fiscal targets.
Scottish Sun
9 hours ago
- Scottish Sun
Inside Syria's ‘human slaughterhouse' prisons where sick guards threw ‘execution parties' & floors were carpet of bodies
IT was one of the most fearsome regimes in the Middle East, ruling Syria with an iron grip and 'disappearing' hundreds of thousands of people during the country's brutal civil war. But President Bashar Al-Assad's dramatic toppling in December last year exposed the true horrors of his 'human slaughterhouse' prisons. 15 Rebels swarmed the now-empty prisons after the collapse of the Assad regime Credit: Getty 15 Saydnaya Prison near Damascus was the most notorious prison in the country Credit: Getty 15 The Assad regime collapsed in December 2024. Pictured: a former inmate demonstrates how he was forced to line up naked for a medical check before being taken to a solitary confinement cell at the basement of Saydnaya Credit: Reuters Here detainees were fed from buckets and tortured day and night by sadistic guards who often assassinated them and threw sick 'execution parties' - before disposing of the dead in mass graves. Now a harrowing new BBC documentary, on tonight, delves into what really went on in jails that let Assad keep his grip on power for so long - and hears not only from the inmates detained in them, but the people who ran them. 'When the prisoners heard my name, they would tremble,' said Hussam, a military policeman who worked in the notorious Saydnaya Prison. 'I beat them with all my strength. I showed them no mercy at all.' With the dictator gone, outsiders were free to explore the labyrinth of concrete corridors that only a few months before were filled with the echoing screams of gaunt prisoners. The floors were littered with files and photographs of detainees - some partially burnt in an attempt to cover up the crimes - just part of the meticulous records kept by the state of everyone who passed through the prison walls, their names replaced by a number. Families of the missing and imprisoned are seen in the documentary desperately crawling over rubble hunting for a trace of their loved ones - or at least the truth about what happened to them. Since 2000, dictator Bashar Al-Assad presided over a Syria where dissent was crushed and human rights abuses were rife. Crucial to his hold on power were his security services, who showed little mercy to prisoners accused of threatening the regime. 'As security officers we had the right to kill as we please. We wouldn't be held accountable,' said Colonel Zain, a former Air Force Intelligence officer interviewed on the documentary. Assad torture victims reveal horror of 'burned bodies' & forgetting their names – amid hunt for tyrant's thugs '[Our] mission, like any other agency, was to protect the ruling regime. You have unlimited authority." To them, these were terrorists - and death was the least they deserved. In 2011, protests in Tunisia turned into a call for better human rights across the Middle East and North Africa, a movement called the Arab spring. But when those protests swept into the squares of Syria's capital, Damascus, they were met with a fierce crackdown. Instead of toppling Assad, the country was plunged into a brutal civil war as different factions wrestled for control. During the 13 years of fighting, more than one million people were detained by the regime. Street kidnappings 15 A new BBC documentary tells the story of those who were locked up by Assad - and the officers administering the brutal torture Credit: EPA 15 The floors are littered with the belongings of former inmates Credit: Getty 15 A giant iron press was allegedly used to crush and torture prisoners Credit: Getty Shadi Haroun was one of the first organising protests back in 2011, along with his brother Hadi. After dodging shots from snipers on rooftops, he was bundled into a car and taken to what looked like an ordinary house in the suburbs of Damascus. But this was no home. It was an interrogation centre - and Shadi was to get his first taste of the Assad regime's determination to stamp him out. 'The soldier told me to open my mouth,' Shadi recalled. 'He put his gun inside, and said: 'You're going to get tortured to death. So why don't I make it easier and put you to rest?'' Soon after he was transferred to Mezzeh Air Force Intelligence base, one of the regime's most notorious detention sites. Like all those who opposed Assad, Shadi was deemed a terrorist - with torture their chosen method of extracting a confession. 'He called the investigator and said to him, 'This man, flay him and break his bones. Kill him, do whatever you want, but I need his confession on my desk',' said Shadi. This man, flay him and break his bones. Kill him, do whatever you want, but I need his confession on my desk Security official 'He told me to lie down. They handcuffed my hands behind my back, and then cuffed my feet and joined my hands and feet together. 'They wrapped me in a blanket, like being inside a pipe. I was sweating and the smell of blood was very strong. I stayed wrapped like that for about a week." Eventually Shadi was released. Undeterred, he began organising protests again, more determined than ever to bring down the regime. Carpet of bodies 15 Thousands still don't know the whereabouts of their imprisoned family members - be they dead or alive Credit: Reuters 15 Hundreds swarmed the now-open prisons, pleading for any sign of their loved ones Credit: Getty 15 Saydnaya was particular well-known for its inhuman conditions and human rights abuses that went on inside Credit: AFP Within nine months of the protests, thousands had been arrested, many bundled off the streets like Shadi and taken to secretive locations where they were tortured until they 'confessed'. At least 3,000 had already been killed. Syria's security forces had a network of spies and informants across the country that tracked people like Shadi's every move. 'You could find informants wherever you go,' said Sergeant Omar, an officer in the Air Force Intelligence. 'They could be a taxi driver, they could be a plumber, a mobile phone shop owner, a guy selling cigarettes. 'People were living in fear. This is why we'd say, 'the walls have ears'.' It wasn't long before soldiers pulled up to the house Shadi and his brother were hiding in. Arrested once again, they were taken to the notorious Air Force Intelligence branch in Harasta, on the outskirts of Damascus. Those who entered would walk over the bodies of the detainees - you couldn't see the floor Colonel Zain Colonel Zain was second in command at the time. 'The place I worked in was very famous for its bloody practices and the number of detainees held there,' he said. 'We would pack 400 detainees in a room that was eight by ten metres. Those who entered would walk over the bodies of the detainees - you couldn't see the floor.' Shadi returned to Harasta with the documentary crew and showed them round the bare walls that once imprisoned him. 'The temperature was around 40 degrees, because it was so crowded,' said Shadi. 'We saw strange cases of disease amongst prisoners, I think due to oxygen deficiency because of overcrowding. These psychotic episodes soon turned into physical symptoms.' 'Torture parties' 15 Prisoners were executed with a noose around their neck Credit: Getty 15 Piles of clothing now litter the floors where once inmates were tortured for hours on end Credit: SOPA Images/LightRocket via Gett 15 Prison guards relished in administering beatings Credit: Getty Inside is a changing room, where inmates were stripped, and solitary confinement cells where prisoners would spend months, or even years, locked up. In a neighbouring room, Shadi is reminded of when he was chained up with his brother before being interrogated from pipes on the ceiling. 'We were taken there and hung by our handcuffs from the pipes,' he said. 'It was unbearable - for almost 72 hours, three days, in the same position, without food or drink.' Colonel Zain recalled: 'The interrogation room was right underneath my office. 'Everyone heard the screams. Everyone knew how the interrogations were conducted.' Four months into their detention, a truck pulled up that was normally used to transport meat and they were moved to Saydnaya, a prison with a reputation for brutality that preceded anywhere else in the country. Brainwashed guards treated prisoners like animals, subjecting detainees to continuous beatings. 'We were tortured for hours, and stopped keeping track of time,' recalled Hadi. 'If someone cried during a beating, the beating would get worse." Torture them, don't let them sleep at night. Throw them a party… put them in a grave if you want to, bury them alive Intelligence officer Putting his arms up against a door, Shadi said: "They'd bring a cable and suspend us like this. This is the 'Ghost Method'. "They'd pull us up and we'd be on our toes - you'd last 30 minutes then you'd pass out." Up to 13,000 prisoners were executed here alone in the first four years of the civil war, according to Amnesty. 'I beat them with all my strength,' said Hussam, a military policeman. 'Our superiors would say, 'Torture them, don't let them sleep at night. Throw them a party… put them in a grave if you want to, bury them alive'. 'When they'd call me to go and torture them, the prisoners would go back to their cells bloody and exhausted.' 'Execution parties' 15 Compartments uncovered in the prisons were filled with shoes belonging to executed prisoners Credit: Getty 15 Bodies of the dead were taken to military hospitals where their deaths were recorded as 'heart and respiratory failure' Credit: Getty Occasionally a prisoner would be dragged out of their cell, finally receiving a respite from the torture. But they were on their way to a secret trial - and death was the usual sentence. 'On Wednesday mornings, we'd have an 'execution party'," Hussam recalled. 'Our role during executions was to place the rope on the prisoner - only an officer could push the chair. 'One time, the chair was pushed, but after 22 minutes he didn't die. So I grabbed him and pulled him downwards, so another guard who was bigger and stronger said, 'Go I will do it.' 'Before he died he said one thing: 'I'm going to tell God what you did'.' The bodies of the dead - be it from execution, torture, or disease - were then taken to military hospitals where their deaths were registered. 'Most of the bodies suffered acute weight loss, resembling a skeleton,' said Kamal, an army nurse. 'Most of them suffered from skin lesions and rashes due to lack of hygiene - and most of them had torture marks." He added: 'It was forbidden to record the cause of death as torture. Even those killed from gunshots were recorded as heart and respiratory failure.' All the decision makers who had a role in oppressing the Syrian people escaped, and are now in hiding Shadi With the bodies piling up, mass graves were the only solution. At least 130 grave sites have been found across Syria so far - but dozens more are believed to be out there, known only to those who dug them out. There is little hope of identification for the thousands dumped there. Many of the guards and officers defected from Assad's regime, joining the rebels or fleeing the country. By 2019, the rebellion had largely been suppressed. Shadi and his brother were released at last, fleeing to exile in Turkey. Then, in December this year, rebel forces overwhelmed Damascus and Assad fled the country and claimed asylum in Russia. With the collapse of the regime, Shadi set to work helping others locate their missing friends and family. But for many there is little hope of ever finding out what really happened to them. 'Everyone, the detainees, and families of the missing, should keep talking about this,' he said. 'All the decision makers who had a role in oppressing the Syrian people escaped, and are now in hiding. 'They've left everybody to pick up the pieces - to deal with what they left behind.' Surviving Syria's Prisons airs tonight on BBC Two at 9pm.
