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Reuters
8 hours ago
- Business
- Reuters
Brazil's Totvs agrees to buy StoneCo's Linx unit
SAO PAULO, July 22 (Reuters) - Brazilian software company Totvs ( opens new tab has agreed to buy StoneCo's (STNE.O), opens new tab Linx unit in a deal worth 3.05 billion reais ($547.90 million), it said on Tuesday, adding that it expects the move to strengthen its position in the retail segment. Totvs has shown interest in Linx since 2020, when StoneCo won a bidding war by paying 6.7 billion reais for the retail software developer. In April, Totvs entered exclusive talks with StoneCo to acquire the unit. Totvs said in a securities filing that the transaction will be financed through its cash reserves and debt instruments yet to be arranged "under favorable market conditions". The deal requires approval from Brazil's antitrust watchdog. ($1 = 5.5667 reais)
Reuters
18 hours ago
- Politics
- Reuters
Brazil's top court threatens Bolsonaro with arrest, demands explanation for order breach
SAO PAULO, July 21 (Reuters) - Brazil's Supreme Court threatened to order former President Jair Bolsonaro's arrest unless his lawyers explain within 24 hours why he breached restrictions on his use of social media, a decision showed on Monday evening. The order summoning Bolsonaro's lawyers was issued by Justice Alexandre de Moraes, who oversees the case in which Bolsonaro is accused of plotting a coup. Bolsonaro's lawyers did not immediately respond to a request for comment outside normal business hours. Moraes had on Friday ordered Bolsonaro to wear an ankle bracelet and banned him from using social media, among other measures - which were later upheld by a court panel - over allegations he courted the interference of U.S. President Donald Trump, who tied steep new tariffs on Brazilian goods to what he called a "witch hunt" against Bolsonaro. In an interview with Reuters on Friday, Bolsonaro described Moraes' decision to prohibit his social media use as "cowardice," and said he intended to continue engaging with the press to ensure his voice was heard. On Monday, Moraes said Bolsonaro breached the Supreme Court order when speaking with journalists earlier in the day, following a meeting with allies in the Brazilian Congress. The moment, which marked the first time Bolsonaro publicly showed his ankle bracelet, came hours after Moraes issued a clarification of Friday's ruling, which stated that Bolsonaro's use of social media included use through third parties. Moraes in his decision attached screenshots of several posts on social media, including on news outlets, that showed Bolsonaro "displaying the electronic monitoring device, delivering a speech to be displayed on digital platforms." U.S. Secretary of State Marco Rubio last week called Moraes' court orders a "political witch hunt", responding on Friday with immediate visa revocations for "Moraes and his allies on the court, as well as their immediate family members." The court's crackdown on Bolsonaro adds to evidence that Trump's tactics are backfiring in Brazil, compounding trouble for his ideological ally and rallying public support behind a defiant leftist government. Hours before summoning Bolsonaro's lawyers, Moraes had issued a ruling that raised questions about whether the right-wing leader was allowed to talk to journalists. "Obviously, the broadcasting, re-broadcasting, or dissemination of audio, video, or transcripts of interviews on any third-party social media platform is prohibited," the judge said, in a clarification of Friday's ruling. The measure sparked debate in Brazil regarding the ruling's range. Bolsonaro on Monday canceled an interview with a news outlet that would have been broadcast live on social media. "The prohibition is that he communicates on social media; it is not a prohibition against third parties speaking about him, whether to praise or criticize," said Ivar Hartmann, a law professor at Sao Paulo business school Insper. He added that, in his view, interviews are permissible, provided they are not intended to circumvent the legal limitations, such as giving an interview to a supporter. But Vera Chemim, a São Paulo-based constitutional lawyer, said she believed the former leader is on shaky ground, noting that interviews, while not explicitly mentioned in the court order, could still be used to justify Bolsonaro's arrest. "Bolsonaro is now completely silenced," she said. "Any misstep could lead to a preventive arrest." The Supreme Court declined to comment or elaborate on the specifics of that decision. A spokesperson for Bolsonaro also declined to comment, but the former president has always denied any wrongdoing.
Reuters
21 hours ago
- Politics
- Reuters
Brazil's top court freezes accounts, assets of Bolsonaro's son, CNN Brasil reports
SAO PAULO, July 21 (Reuters) - Brazilian Supreme Court Justice Alexandre de Moraes ordered to freeze the accounts and assets of Eduardo Bolsonaro, son of former President Jair Bolsonaro, CNN Brasil reported on Monday, citing a confidential decision issued on Saturday. Eduardo is a Brazilian congressman who has been in Washington to drum up support for his father.
Straits Times
a day ago
- Politics
- Straits Times
Brazil's Supreme Court threatens Bolsonaro with arrest if interviews published on social media
SAO PAULO - Brazil's Supreme Court said on Monday former President Jair Bolsonaro may be arrested if his press interviews are published on social media, raising questions about whether the right-wing leader is allowed to talk to journalists, as he faces backlash over the 50% tariffs U.S. President Donald Trump imposed on Brazil. In a court order issued on Monday, Brazilian Justice Alexandre de Moraes, who oversees a criminal case in which Bolsonaro is accused of plotting a coup, said any attempt to circumvent the ruling could result in the former president's arrest. On Friday, Moraes had ordered Bolsonaro to wear an ankle bracelet and banned him from using social media, among other measures, over allegations he courted the interference of Trump, who tied the new levies on Brazil to what he called a "witch hunt" against Bolsonaro. In an interview with Reuters on Friday, Bolsonaro described Moraes' decision to prohibit his social media use as "cowardice," and said he intended to continue engaging with the press to ensure his voice was heard. But Monday's ruling clarified that the restrictive measures also applied to Bolsonaro's use of social media through third parties. Bolsonaro canceled an interview with a local news outlet that would have been broadcast on YouTube on Monday. "Obviously, the broadcasting, rebroadcasting, or dissemination of audio, video, or transcripts of interviews on any third-party social media platforms is prohibited," the judge wrote. It is unclear if the measure amounts to a prohibition of all interviews. Top stories Swipe. Select. Stay informed. Singapore Subsidies and grants for some 20,000 people miscalculated due to processing issue: MOH Asia At least 19 killed as Bangladesh air force plane crashes at college campus Singapore ST Explains: What does it mean for etomidate to be listed under the Misuse of Drugs Act? Business Why Singapore and its businesses stand to lose with US tariffs on the region Singapore NTU to have compulsory cadaver dissection classes for medical students from 2026 World US authorities probing passenger jet's close call with B-52 bomber over North Dakota Singapore Jail for man who conspired with another to bribe MOH agency employee with $18k Paris trip Singapore New research institute will grow S'pore's talent in nuclear energy, safety "The prohibition is that he communicates on social media; it is not a prohibition against third parties speaking about him, whether to praise or criticize," said Ivar Hartmann, a law professor at Sao Paulo business school Insper. He added that, in his view, interviews are permissible, provided they are not intended to circumvent the legal limitations, such as giving an interview to a supporter. But Vera Chemim, a São Paulo-based constitutional lawyer, said she believed the former leader is now on shaky ground, noting that interviews, while not explicitly mentioned in the court order, could still be used to justify Bolsonaro's arrest. "Bolsonaro is now completely silenced," she said. "Any misstep could lead to a preventive arrest." On Friday, U.S. Secretary of State Marco Rubio called Moraes' court orders a "political witch hunt" that had prompted him to make immediate visa revocations for "Moraes and his allies on the court, as well as their immediate family members." The Supreme Court declined to comment or elaborate on the specifics of the decision. A spokesperson for Bolsonaro also declined to comment, but the former president has always denied any wrongdoing. The court's crackdown on Bolsonaro added to evidence that Trump's tactics are backfiring in Brazil, compounding trouble for his ideological ally and rallying public support behind a defiant leftist government. REUTERS
Reuters
a day ago
- Business
- Reuters
Brazil economists trim 2026 inflation forecast in boost for central bank
SAO PAULO, July 21 (Reuters) - Private economists polled weekly by Brazil's central bank trimmed their 2026 inflation outlook for the first time in over two months, according to a survey released on Monday, in a welcome development for the central bank. Consumer prices in 2026 are now expected to rise 4.45%, down from 4.50% the previous week, a projection that had remained unchanged for nine straight weeks. The central bank targets inflation at 3% with a tolerance range of plus or minus 1.5 percentage points. Central bank officials have expressed concern that long-term inflation expectations may be becoming unanchored, despite the country's main interest rate standing at a restrictive 15%. Economists' forecasts for inflation held steady at 4% for 2027 and dipped slightly to 3.80% from 3.81% for 2028, the survey showed. Inflation projections for this year have been on a steady decline, supported by a stronger exchange rate. They continued that trend this week, easing to 5.10% from 5.17% previously. Central bank chief Gabriel Galipolo said in a letter earlier this month that inflation is expected to return to within the tolerance band by the end of the first quarter of 2026. Estimates for Brazil's benchmark interest rate remained unchanged from the previous week, at 15% for 2025 and 12.5% for 2026. The following is a set of projections from the survey:
