The Central Bank of Brazil cut the Selic rate to 10.5% on May 8, 2024, down 0.25 points from 10.75%. This smaller reduction marked a slowdown from the 0.5 percentage point cuts implemented in the prior six meetings. Five Copom members backed the smaller cut, four supported the previous pace, leaving Campos Neto to cast […]
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Brazil’s southern and southeastern state governors, tired of the rising power of gangs, have formed a Regional Security Pact to combat organized crime. Launched this Saturday, the pact introduces an integrated intelligence bureau for better information sharing and joint police training to unify security methods. The agreement seeks to toughen laws against organized crime, including […]
BMW and Mercedes Face Sales Slump in Cooling Chinese Market
German luxury carmakers BMW and Mercedes-Benz reported declining sales for the third quarter of 2024. BMW experienced a 13% drop in overall sales, while Mercedes-Benz saw a 3% decrease. China, the world’s largest automotive market, played a significant role in this downturn. BMW’s sales in China fell by a third, marking their steepest decline in […]
