Latest news with #Rio de Janeiro
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Brazil to unveil help for its companies hit by US tariffs
Brazilian President Luiz Inacio Lula da Silva said much of the assistance will be directed to small businesses. (AP pic) RIO DE JANEIRO : Brazilian President Luiz Inacio Lula da Silva on Tuesday announced aid worth some US$5.5 billion for companies hit by Donald Trump's trade tariffs, as part of a package of economic relief measures. Last Wednesday the 50% tariffs imposed by Washington went into effect on many Brazilian products. The duties impact key sectors of Latin America's largest economy, notably including coffee and meat, although the US president excluded some strategic exports such as orange juice, civil aircraft and fertilizer. Lula will launch his contingency plan during a ceremony in the capital Brasilia on Wednesday. 'Tomorrow I will sign a provisional measure creating a credit line of 30 billion reais for Brazilian companies that may suffer losses due to Trump's tariffs,' Lula told a local radio station. According to Brasilia, the new duties affect 36% of Brazil's exports to the US, equivalent to US$14.5 billion in 2024. The leftist leader said much of the US$5.5 billion worth of assistance will be directed to small businesses, because 'large companies have greater resilience'. 'No one will be left helpless in the face of president Trump's taxes,' he added. 'We will ensure the survival of Brazilian companies.' The government will also prioritise domestic products and sourcing in its purchases and encourage plans to find new markets for impacted companies. Lula said Brazil was also considering reciprocal measures against the US. Washington slapped the tariffs on Brazil in part because of the prosecution of Trump's right-wing ally Jair Bolsonaro, whose trial on charges of planning a coup has been slammed by the US president as a 'witch hunt'. Brazil filed a complaint with the World Trade Organization last Wednesday to challenge the US tariffs, but Lula said in the radio interview he remains 'ready to negotiate with the US'.
Yahoo
3 days ago
- Business
- Yahoo
Brazil consumer coffee prices fall in July for first time in 18 months
RIO DE JANEIRO (Reuters) -Brazil's consumer coffee prices fell 1.01% in July, the first drop in 18 months, according to data from the country's Broad National Consumer Price Index (IPCA) published on Tuesday. During the preceding year and a half, coffee was one of the main drivers of inflation in Brazil, the world's second largest coffee market, according to the Brazilian Institute of Geography and Statistics (IBGE). The retail price drop followed a decline in prices paid to farmers after the harvest of the 2025 crop, which is now in its final stages in Brazil. The reported decline in consumer coffee prices in Brazil for the month of July follows volatility in international markets, driven by issues such as the decision by U.S. President Donald Trump to impose a 50% tariff on Brazilian goods. While products such as orange juice were exempt from the measures, others including coffee, eggs and beef were not. Last week, coffee futures in New York rose 8% as investors grew concerned that the tariffs could hinder trade between the world's largest coffee consumer, the United States, and the globe's biggest producer and exporter, Brazil. It is too early to tell if Trump's decision to hike tariffs against Brazilian goods could lead to lower prices of staples including coffee, IBGE manager Fernando Goncalves told Reuters. "It could be an effect of increased supply, and it's not possible to say or confirm that it's related to the tariff hike. The tariff hike only began this month," he said. Sign in to access your portfolio
Yahoo
5 days ago
- Entertainment
- Yahoo
🤣 Fla and Mirassol players go viral before kick-off at the Maracanã
Almost everything was ready for the ball to roll at Maracanã on Saturday night (9). Only one "detail" was missing: the Brasileirão sponsor material was still on the field. Flamengo and Mirassol players had to step in. Plata and Emerson Royal helped out on the red-and-black side. Meanwhile, the Leão "collaborated" with Reinaldo and Edson Carioca. Afterwards, those responsible "completed" the job. And some banter on the field. This unusual moment brought back memories of a historic episode: Fla and Vasco players pushing an ambulance at Mané Garrincha. Who remembers? On the field, Flamengo defeated Mirassol, who had gone nine games unbeaten. Photo: Reproduction/Premiere This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.
Washington Post
06-08-2025
- Politics
- Washington Post
Brazilian justice eases Bolsonaro's house arrest to allow unrestricted family visits
RIO DE JANEIRO — Brazilian Supreme Court Justice Alexandre de Moraes on Wednesday eased a key term of the house arrest imposed on former President Jair Bolsonaro in his coup plot case, allowing family members to visit without prior authorization. De Moraes' authorization, which followed a request from federal police, means the relatives will be able to visit the residence where Bolsonaro lives with his wife, Michelle, without first asking court for permission. It applies to Bolsonaro's sons and daughter, grandchildren and close relatives of his wife. The conservative former leader is on trial for allegedly masterminding a coup plot to remain in office despite his election loss to current leftist President Luiz Inácio Lula da Silva . Bolsonaro denies wrongdoing. The house arrest order has sharply divided Brazilians, with his supporters saying the case against Bolsonaro is persecution of a political adversary, while Lula supporters say the matter should be decided in court. The case has gripped the South American country as it faces a trade war with the United States. Bolsonaro has drawn the support of the U.S. government, with President Donald Trump calling the prosecution of Bolsonaro a witch hunt and tying his decision to impose a 50% tariff on imported Brazilian goods to his ally's judicial situation. The original house arrest order issued Monday allowed only Bolsonaro's lawyers to have unlimited access to his residence. De Moraes, who is responsible for putting Bolsonaro on trial, had ordered the former president's house arrest for violating precautionary measures imposed on him by spreading content through his sons. The 70-year-old politician denies that and pledges to appeal the decision. The court last month had ordered Bolsonaro to wear an electronic ankle monitor and obey a curfew while the proceedings are underway. ___ Follow AP's coverage of Latin America and the Caribbean at
Yahoo
05-08-2025
- Business
- Yahoo
Botafogo agree deal to sign Bournemouth keeper Neto
Botafogo have reached an agreement with Bournemouth to sign Brazilian goalkeeper Neto, according to The Athletic. The Brazilian top-flight club are seventh in the standings and are keen to strengthen their squad for the second half of the season. There will be no transfer fee involved in the deal, but Bournemouth will benefit financially. Neto was one of the highest earners at the club, and his exit will help cut wage costs significantly. His contract was due to expire in June 2026, but both parties have agreed to part ways earlier. Botafogo will offer Neto a deal that runs until 2027. The contract also includes an option to extend by an additional six months. Bournemouth move on from Neto Bournemouth recently signed Djordje Petrovic from Chelsea, a move that reduced Neto's chances of playing regular football next season. Before arriving at Bournemouth, the former Brazilian international played in Italy and Spain. Neto joined Bournemouth in 2022 after a brief stint at Barcelona. He made 63 appearances in all competitions for the Cherries. During that period, he kept 13 clean sheets and established himself as a reliable figure in goal. However, he spent last season on loan at Arsenal and has now been deemed surplus to requirements by Bournemouth. Neto is now set for a new chapter in Brazil as Botafogo continue their push for a strong finish in the league.
