The economic team wants to borrow $ 4.01 billion from international organisations to finance expenses related to the coronavirus crisis, including expansion of the Bolsa Família and payment of emergency aid, unemployment insurance and the benefit directed to those who have suspended employment contracts or reduced hours.
A structured operation in the government to support energy distributors through loans due to the impacts of the coronavirus on the sector will involve a ceiling value of R$ 15.6 billion ($ 2.8 billion), according to the National Electric Energy Agency (Aneel). According to the Ministry of Mines and Energy, the sector has had an accumulated default of 10.16% since March 18, against a monthly average of 2.4% in the first half of 2019.
Source: UOL Economia
China, the main global pork consumer, imported a record 400,000 tonnes of pork in April, a jump of almost 170% year-on-year, customs data showed, with buyers taking advantage of low prices to stock the product. China imported 1.35 million tonnes of pork in the first four months of the year.
Magazine Luiza’s e-commerce sales skyrocketed 72.6% in the first quarter of 2020, compared to a year earlier, but failed to overcome the negative effects of closing stores due to the coronavirus. The retailer, accustomed to accumulating profits on each balance sheet, presented an adjusted net loss of R$ 8 million ($ 1.45 million).
Source: Money Times
Caixa Econômica Federal paid R $ 65.5 billion ($ 12 billion)in emergency aid, in addition to the first and second instalments, said the bank’s president, Pedro Guimarães. In total, 55.9 million people have received some portion of the benefit since the program was created in April, to help people cope with the impacts of the covid-19 crisis.
Source: Valor Investe