Tag Archives: VALE SA

EXCLUSIVE – Brazil’s Vale, separate state government $ 2 billion for disaster resolution, sources said | Instant News


RIO DE JANEIRO, Jan 22 (Reuters) – Brazilian miner Vale SA and state authorities narrowed their gap in a potential settlement deal on the Brumadinho mining disaster to 11 billion reais ($ 2 billion) before talks broke down, someone close to the negotiations told Reuters on the day. Friday.

The Minas Gerais state government lowered its demand for a settlement to 40 billion reais in a meeting with Vale on Thursday, down from 54 billion reais in damages previously wanted, said the source, who spoke on condition of anonymity when negotiations closed. . Vale offered 29 billion reais, the person said, with talks failing because of the difference.

Reporting by Marta Nogueira Written by Jake Spring Editing by Leslie Adler

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Global Stock Market Fever Encourages Reluctant Brazilians to Invest | Instant News


RIO DE JANEIRO – Since the coronavirus pandemic hit, many Brazilians have fled to a place they don’t normally go to: the country’s stock market.

Markets around the world are rising despite the pandemic and economic concerns, supported by low interest rates. When the central bank of Brazil is under pressure interest rates fell to their lowest level in history at 2% amid Covid-19, it sparked a huge shift among Brazilians, who were swapping their shrinking fixed-income investments for stocks for the first time.

Sparking the trend are social media stars who have boosted the market by giving young Brazilians – many of them – the confidence to try their luck with equity.

One million new investors entered the Brazilian stock market since March and there are now three times as many investors on the market as there were two years ago. Renewed interest in the market has paved the way for a flurry of public offerings, with 25 companies going public so far this year, the largest in 13 years. The benchmark index of the São Paulo-based B3 exchange, Ibovespa, is up more than 60% since its March low.

“This growth has taken us by surprise,” said Gilson Finkelsztain, chief executive officer of B3.

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