Assaí, a major player in Brazil’s cash and carry retail market, has seen its fortunes change dramatically. The company recently announced that the Brazilian Federal Revenue Service accepted its appeal. This decision led to the cancellation of a R$1.3 billion ($232 million) asset freeze. The news, released after market close on October 11, 2024, sent […]
Related Posts
Binance Faces Fund Withdrawals After CEO Steps Down
Binance, a major cryptocurrency exchange, experienced a significant outflow of funds, with investors withdrawing about $950 million in just one day. This happened right after Changpeng Zhao, the CEO, left his job. Most of the withdrawn funds were in cryptocurrencies like USDT, Bitcoin, Ether, and BNB. BNB is linked to Binance but is not under […]
Brazil champions Argentina’s BRICS role amid summit uncertainties: a tale of South American diplomacy
In the lead-up to the XV BRICS Summit, contrasting stances emerged from South America concerning Argentina’s potential role in the BRICS association, a coalition representing emerging economies such as Brazil, Russia, India, China, and South Africa. Brazilian President, Luiz Inacio Lula da Silva, has vocally supported Argentina’s potential induction into BRICS. Emphasizing the intertwined economic […]
Oil Surplus Looms as Demand Slows, Supplies Grow
The IEA predicts a global oil surplus as demand slows and non-OPEC+ supplies increase. Last quarter’s global consumption growth slowed by 35%, especially due to China’s economic slowdown. The IEA expects a 1.2 million barrels per day demand increase in 2024, half of the previous year’s growth rate. Global oil demand’s momentum is waning, signaling […]