Tag: sao paulo

Brazil confirms first coronavirus case in Latin America

A Brazilian government test has confirmed the first case of coronavirus in Latin America, after a Sao Paulo hospital flagged the possible infection of a 61-year-old who had visited Lombardy, in northern Italy. The diagnosis comes during Brazil’s carnival holiday, a peak time for domestic travel when millions of revellers throng major cities for boisterous street celebrations. Sao Paulo stock market, which has been closed since last week, is set to open at 1 p.m. local time. Brazilian shares in exchange-traded funds in New York have dropped nearly 6% this week.

Sao Paulo energy company CESP triples net income in 2019

Companhia Energética de São Paulo (CESP3) reported a net profit of R $ 1.3 billion in Q4 of 2019 against R $ 59 million in the same period of 2018. In large part, the result was achieved by reducing contingencies in R $ 1.5 billion and obtaining tax credits for R $ 1 billion. The company’s net profit in 2019 was R $ 1.16 billion, more than triple R $ 294 million in 2018.

Carrefour buys 30 stores & 14 gas stations from rival Makro for $454mn

The Brazilian unit of France’s Carrefour SA has agreed to buy 30 stores and 14 gas stations in 17 states from rival retailer Makro’s Brazilian subsidiary for 1.95 billion reais ($453.69 million), the French retailer said in a securities filing on Sunday. The stores will be integrated into the cash & carry Atacadão chain. Makro will continue to operate in Brazil but with only 24 stores in the country’s richest state, Sao Paulo.