Battle Over Sports Betting Threatens to Derail Lula Fiscal Plan
A fierce lobbying push by sports betting companies is threatening to bring down the Brazilian government's plan to raise revenues and hit fiscal goals after the lower house speaker backed off support for a deal he helped broker.
Lower house Speaker Hugo Motta abruptly warned Luiz Inacio Lula da Silva's government on Thursday that he and congressional leaders had discussed moves to block the plan from taking effect, a reversal that briefly caused the country's currency to weaken.
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Brazil beef barons' Wall Street listing caps a return from exile
By Luciana Magalhaes, Lisandra Paraguassu and Ricardo Brito GUARUJA, Brazil -Brazilian meatpacker JBS begins trading on the New York Stock Exchange on Friday, capping a stunning comeback by brothers Joesley and Wesley Batista less than a decade after they were jailed in a record-breaking corruption scandal and forced into the backseat of their global food empire. A U.S. listing for the world's biggest meatpacker, which the company has sought since 2009, comes as the brothers, now back on the board of JBS, have also recovered much of their vaunted influence among Brazil's political elite. Their prominence was on display on Saturday when Wesley Batista, fresh off a trip to Paris with Brazilian President Luiz Inacio Lula da Silva, took the stage to discuss the economic outlook with Brazil's central bank chief and senior bankers. Batista was in good spirits, pushing back against some of the criticism that Brazilian business leaders have leveled against Lula's leftist government. "We need to look at what's working too, because everyone here is making investment plans and growing," he told the beachside gathering in Sao Paulo state, drawing applause. Few business leaders can match the brothers' access in the capital Brasilia. Lula's public agenda shows that one or both have appeared alongside the president during at least five public events since last year. They have also held several private meetings with Lula and his ministers, two people with knowledge of the cabinet's private schedules said. JBS said its meetings with public officials adhere to its code of conduct. The presidential press office did not respond to questions about the meetings. It is a far cry from the brothers' nadir nearly a decade ago, when they confessed to bribing hundreds of politicians, stepped away from their corporate empire and spent months in jail fighting insider trading allegations. "They're back because they're investing," said a person close to Brazil's presidency. JBS operates hundreds of meatpacking plants across more than 20 countries, rivaling Tyson Foods in the U.S. beef market and ranking among Brazil's biggest companies by revenue and employment. The Batistas' parent company, J&F, has expanded across the Brazilian economy into banking, energy and logistics. A $5 million donation by JBS subsidiary Pilgrim's Pride to the Trump-Vance Inaugural Committee underscored the growing global reach of their influence. U.S. Senator Elizabeth Warren grilled JBS in a public letter last month, suggesting the donation and subsequent approval of the U.S. listing by the Securities Exchange Commission within months "raise serious concerns about a potential quid-pro-quo arrangement." In response to questions about the donation, JBS said that Pilgrim's "has a long bipartisan history of participating in the civic process." The brothers' rehabilitation extends beyond politics. After years embroiled in Brazil's biggest-ever corruption scandal, Operation Car Wash, J&F has secured a court order suspending a $2 billion fine for its role in the scheme. At the height of the scandal, the brothers admitted to bribing some 1,800 politicians. In 2017, Joesley Batista recorded a conversation allegedly discussing a bribery scheme with then-President Michel Temer as part of a plea bargain deal. The Batista brothers, who stepped away from JBS leadership positions during stretches of the scandal, were later arrested for alleged insider trading based on that sealed plea deal. They were later acquitted in the case. In 2023, a Brazilian Supreme Court justice suspended the fine against J&F in their plea deal, accepting the argument that prosecutors were biased at the time. The case awaits wider review by the court. "The conflicts of the past were well handled in a conciliatory way," said Fabio Medina Osorio, Brazil's solicitor general during the Temer administration. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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By Luciana Magalhaes, Lisandra Paraguassu and Ricardo Brito GUARUJA, Brazil -Brazilian meatpacker JBS begins trading on the New York Stock Exchange on Friday, capping a stunning comeback by brothers Joesley and Wesley Batista less than a decade after they were jailed in a record-breaking corruption scandal and forced into the backseat of their global food empire. A U.S. listing for the world's biggest meatpacker, which the company has sought since 2009, comes as the brothers, now back on the board of JBS, have also recovered much of their vaunted influence among Brazil's political elite. Their prominence was on display on Saturday when Wesley Batista, fresh off a trip to Paris with Brazilian President Luiz Inacio Lula da Silva, took the stage to discuss the economic outlook with Brazil's central bank chief and senior bankers. Batista was in good spirits, pushing back against some of the criticism that Brazilian business leaders have leveled against Lula's leftist government. "We need to look at what's working too, because everyone here is making investment plans and growing," he told the beachside gathering in Sao Paulo state, drawing applause. Few business leaders can match the brothers' access in the capital Brasilia. Lula's public agenda shows that one or both have appeared alongside the president during at least five public events since last year. They have also held several private meetings with Lula and his ministers, two people with knowledge of the cabinet's private schedules said. JBS said its meetings with public officials adhere to its code of conduct. The presidential press office did not respond to questions about the meetings. It is a far cry from the brothers' nadir nearly a decade ago, when they confessed to bribing hundreds of politicians, stepped away from their corporate empire and spent months in jail fighting insider trading allegations. "They're back because they're investing," said a person close to Brazil's presidency. JBS operates hundreds of meatpacking plants across more than 20 countries, rivaling Tyson Foods in the U.S. beef market and ranking among Brazil's biggest companies by revenue and employment. The Batistas' parent company, J&F, has expanded across the Brazilian economy into banking, energy and logistics. A $5 million donation by JBS subsidiary Pilgrim's Pride to the Trump-Vance Inaugural Committee underscored the growing global reach of their influence. U.S. Senator Elizabeth Warren grilled JBS in a public letter last month, suggesting the donation and subsequent approval of the U.S. listing by the Securities Exchange Commission within months "raise serious concerns about a potential quid-pro-quo arrangement." In response to questions about the donation, JBS said that Pilgrim's "has a long bipartisan history of participating in the civic process." The brothers' rehabilitation extends beyond politics. After years embroiled in Brazil's biggest-ever corruption scandal, Operation Car Wash, J&F has secured a court order suspending a $2 billion fine for its role in the scheme. At the height of the scandal, the brothers admitted to bribing some 1,800 politicians. In 2017, Joesley Batista recorded a conversation allegedly discussing a bribery scheme with then-President Michel Temer as part of a plea bargain deal. The Batista brothers, who stepped away from JBS leadership positions during stretches of the scandal, were later arrested for alleged insider trading based on that sealed plea deal. They were later acquitted in the case. In 2023, a Brazilian Supreme Court justice suspended the fine against J&F in their plea deal, accepting the argument that prosecutors were biased at the time. The case awaits wider review by the court. "The conflicts of the past were well handled in a conciliatory way," said Fabio Medina Osorio, Brazil's solicitor general during the Temer administration. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Leaders on Canada's expanded G7 guest list to tackle climate, economy and security
OTTAWA — Canada is bringing the world to Alberta for the G7 leaders summit in Kananaskis. As summit host, Prime Minister Mark Carney can invite any leaders he chooses — even those from countries outside the G7 club — as he attempts to shape Canada's foreign policy and global geopolitics. When asked on June 7 to explain how Canada decided on the list of non-G7 leaders to invite, Foreign Affairs Minister Anita Anand said the government was seeking a discussion of "very serious issues that affect the global economy and the geostrategic environment." Here's a closer look at the names on Carney's guest list. Australia Prime Minister Anthony Albanese is a willing partner for Canada as it tries to shore up its trade and defence links across the Indo-Pacific. Both countries have shared values and small populations, and depend on a global rules-based system of trade to export large amounts of resources. In March, Carney announced a deal was in the works to have Ottawa partner with Australia on an early-warning radar detection system to use in the Arctic and across the U.S. border. Brazil President Luiz Inácio Lula da Silva has tried to partner with countries across the Global South while advancing democracy and environmental protection. He'll be taking those themes to the COP30 summit in the Amazon this November. His office claimed this week that Carney will be attending that summit — Ottawa has yet to confirm. Brazil's president, widely known as Lula, has echoed Canadian concerns about online misinformation since a foiled coup plot in 2022. India Carney's most controversial invitation has been to Indian Prime Minister Narendra Modi, who is arriving in Canada less than a year after the RCMP accused agents of his government of playing a role in "widespread violence" in Canada. Sikh separatist groups note that this month marks two years since the assassination of Hardeep Singh Nijjar, which Canada has linked to New Delhi. India insists these claims have no substance. Sikh groups have promised to stage large protests during the G7 summit. But regional experts argue Canada should advance trade relations with the world's most populous country and commit to structured talks on security instead of derailing the entire relationship. Canada has promised to raise transnational repression at the summit, and the Asia Pacific Foundation has argued Ottawa and New Delhi should commit to law-enforcement talks on both that issue and India's concerns about violent extremism. Indonesia President Prabowo Subianto will attend the summit after years of Ottawa pursuing deeper ties with Indonesia — a demographic and economic giant in the Indo-Pacific. Canada and Indonesia signed a free-trade agreement last year and Ottawa aspires to sell small-scale nuclear technology to the island nation as it helps to develop small reactors for northern Canadian communities. Mexico President Claudia Sheinbaum deliberated for more than three weeks before accepting Carney's invitation to attend the G7. Sen. Peter Boehm, who has played a key role in numerous G7 summits, noted that Sheinbaum does not travel abroad often and might have chosen to come based on the likelihood of a meeting with Trump and Carney or to make progress on the tariffs issue. "There's the possibility of having a short trilateral on the side," he said. The ideal outcome would be a clear timeline for the coming review of the North American trade deal known as CUSMA, Boehm said, along with some immediate progress. For example, "if we can make a deal that will allow everyone to step back and say, 'well, we got something out of that and, tariffs are coming down.'" South Korea President Lee Jae-myung is eager to present South Korea as a stable, democratic country following a turbulent period that started with the former president declaring martial law last December. The country has since maintained the rule of law and elected a leader who promised to reverse policies that sought to end gender-equality programming. South Korea has long aspired to join the G7 and argues that its economic and regional clout is similar to that of G7 member Japan. Ottawa and Seoul have pledged deeper co-operation on maritime security, critical minerals and the environment. In November, South Korea will host the Asia-Pacific Economic Co-operation forum, and Canada's prime minister has attended every APEC summit over the past two decades. South Africa President Cyril Ramaphosa will host the separate G20 summit in November — a much larger and more diverse group than the G7 that also tends to see less consensus. Boehm said the G20 host can act as a bridge to the G7 by making the topics and outcomes at the smaller summit more relevant to the needs of developing countries. Ramaphosa has attended previous G7 meetings and was in the room when Canada sought action on oceans protection at its 2008 summit. Ukraine President Volodymyr Zelenskyy might get another chance to speak with U.S. President Donald Trump in Alberta, as Washington continues to push for an end to the war that started with Russia's 2014 seizure of Crimea and escalated to a full-scale invasion in 2022. Ottawa and its peers fear the U.S. is too obliging to Moscow and that a bad deal will only create more instability in Europe. Ukraine has credited Canada with trying to advance Kyiv's cause at the G7. Canada has been leading efforts aimed at forfeiting Russian assets held in Western countries to help finance Ukraine's defence, with limited success. United Arab Emirates The Canadian Press has learned that Carney invited the United Arab Emirates to attend the G7 summit, which could mean UAE President Sheikh Mohammed bin Zayed Al Nahyan comes to Alberta. But as of Thursday evening, Abu Dhabi had not said whether it had accepted Canada's invitation. A readout Thursday from Carney's office said the two leaders spoke and discussed "opportunities to deepen bilateral collaboration in these sectors," and committed to remaining in contact. Canada has described the wealthy Gulf country as "a critical partner" in humanitarian efforts such as foreign aid projects and the resettlement of vulnerable Afghans. Sudanese groups have ccriticized Canada for not publicly calling out the UAE for its role in arming the Rapid Support Forces, a paramilitary the U.S. has accused of carrying out a genocide in Sudan. The UAE has strenuously denied involvement in the conflict. Not coming: Saudi Arabia Carney also invited Crown Prince Mohammed bin Salman to the G7 summit, but Canadian officials said Thursday morning the country will not be attending. "The attempt will be for the prime minister to meet with as many of the leaders as possible," said an official briefing media on background, who said there was no complete list of invitees as of Thursday morning. Ottawa and Riyadh restored full diplomatic ties in May 2023, five years after the Liberal government's public comments on women's rights led Saudi Arabia to expel Canada's ambassador. The U.S. Central Intelligence Agency says the Crown prince ordered the 2018 assassination of journalist Jamal Khashoggi in the Saudi consulate in Istanbul. Saudi Arabia is among Canada's largest export destinations for military equipment. International organizations Canada could welcome NATO Secretary General Mark Rutte and World Bank President Ajay Banga to the summit, Boehm said, and possibly even the secretary general of the United Nations or leaders of the World Trade Organization and the Organization for Economic Co-operation and Development. A federal official said Thursday that Canada's G7 presidency has involved work with other groups, including the African Union and the Gulf Co-operation Council. It's not known if leaders of those groups will be present. This report by The Canadian Press was first published June 13, 2025. Dylan Robertson, The Canadian Press Sign in to access your portfolio
