Ford’s decision to shut down production in Brazil will have a financial impact of approximately $4.1 billion in non-recurring expenses, according to information released by the automaker. Of the total, approximately $2.5 billion will have a direct impact on the cash flow of the U.S. group, mostly related to compensation, termination, agreements and other payments. Another $1.6 billion will come from the accounting impact attributed to the write-off of tax credits, accelerated depreciation and amortisation of fixed assets.
Source: UOL
Day: January 12, 2021
Banks add $620 bn in credit during pandemic
With the stimulus programs created by the government during the crisis, banks have accumulated R$3.4 trillion ($620 bn) in credit concessions between March and December. The estimate is from Febraban, which puts into account figures already released by the Central Bank (BC) for the period between March and November, which total R$3.1 trillion ($563 bn), and a projection for the December results, of R$313.8 billion ($57 mm).
Source: Agencia Estado
Revenues from coffee in Brazil reach more than $6.2 bn
The Gross Production Value (GVP) of Brazil’s coffee plantations, which corresponds to the total turnover of both arabica and conilon crops, reached R$34.04 billion ($6.2 bn) in 2020. Conilon coffee, with revenues of R$ 5.84 billion ($1.1 bn), accounted for about 17% of this revenue and Arabica coffee, which reached R$ 28.2 billion ($5.1 bn), accounted for 83% of the total. Based on these figures, it can be seen that coffee farming accounts for approximately 5.7% of the total turnover of Brazilian crops, which places the coffee sector in fifth place in the VBP ranking.
Source: Portal do Agronegocio
Sales drop 10.3% during Christmas week, says Serasa Experian
Physical retail sales in São Paulo fell 10.3% between 18 and 24 December 2020 compared to the same period in 2019, according to the Serasa Experian company’s Activity-to-Commerce Indicator. Between 18 and 20 December 2020, the drop was 5.6% compared to 20 and 22 December of the same month in the previous year.
Source: UOL Economia
Banco do Brasil to close 112 bank branches across the country
Banco do Brasil informs that a set of measures related to the revision and resizing of its organisational structure has been approved, resulting in the readjustment of 870 service points by Brazil. Therefore, the bank announces that by June, it will deactivate 361 units, being: 112 bank branches, 7 offices and 242 Service Points (PA).
Source: Money Times
