SAO PAULO, Brazil – After replacing the state-controlled oil company’s CEO with a retired general, the Brazilian president blasted its pricing policies and said they should be changed to lower gas and diesel prices, causing a 21% drop Monday in the company’s shares on the São Paulo Stock Exchange. By Milan Sime Martinić Read more
The Las Vegas Review-Journal stated that the draft of new legislation being considered by the state’s governor refers to the current government model of trying to attract new businesses as “inadequate alone to provide the flexibility and resources conducive to making the State a leader in attracting and retaining new forms and types of businesses … Read more
Continuing a trend of European businesses moving independently to protect the Amazon, France’s BNP Paribas announced it will no longer finance companies that buy cattle or soy produced on deforested or converted Amazon lands after 2008. The measure also applies to deforested lands in Brazil’s Cerrado region, a threatened tropical savanna eco-region covering 20% of … Read more
A global increase of 2.4% in Brazilian instant coffee exports in 2020 occurred alongside a 39% drop in exports to the Arab bloc, with Saudi Arabia accounting for 33% of the decrease, according to numbers made public by ABICS, the Brazilian Instant Coffee Industry Association. Despite the Arab purchase drops, Brazil remains the top producer … Read more
The move, which will first affect Brazil, Canada and Indonesia before being tried out in the US in a few weeks, is part of a company goal to “lower the temperature and discourage divisive conversations” globally, and was announced by Facebook’s Mark Zuckerberg at a January conference. The change will initially impact only a small … Read more
Millions of American workers believe they are bound by contracts they are not actually bound by, according to University of Maryland Smith Business School’s Evan Starr, and this means less earnings for workers. Starr spoke at length on the subject at the recent Aspen Institute summit and to us on Twitter. While non-competes are required … Read more
The drop started last Friday, and continued over the weekend and on Monday. The big tech stocks, like Google, Amazon, Facebook, Apple, and Microsoft, which have been on a long upward trend, have dropped significantly. The drop is considered possibly overdue given the high out-performance and positioning of the stocks. Read more
17% revenue growth is expected between now and 2022, according to a recent report by Research and Markets. Currently, revenues for these 20 countries is $3.5b. The 2022 number will be $4.1, and of the 20 countries, 5 countries will make up 75% of that revenue. The 17% gain in revenue will be from 5m … Read more
A week after Trump said the U.S. would leave the Paris Climate Agreement, the governor of California made an agreement with China to develop more green tech. People are talking widely about states possibly making lots of climate deals now that the U.S. is out. Read more
Who is Tencent? It’s the largely unknown (maybe because it’s pretty media shy) parent company of China’s ubiquitous WeChat social media app. Their market cap is $330b, more than JPMorgan Chase. 500m people in China (of 650m total) use WeChat for communicating, finding goods and services, getting directions, and paying for things. Who else is … Read more
According to Igor Drozdov, the board chairman of the Skolkovo Foundation, who spoke at Russia’s SPIEF economic forum this year, new technologies will allow more people “to earn real money using intellectual property institutions.” He also talked about tech that would be developed in order to protect IP, describing projects similar to what Microsoft is … Read more
According to Alexei Kutrin, speaking at the SPIEF economic forum this week, “The oil sector should be fully privatized in the next 7-8 years. No state companies are required there now as the statehood brings more harm than benefit to those companies.” He added that oil companies are able to deal with business issues without … Read more