In this week’s issue: Campaign managers, the only outsiders of the 2018 presidential race. Dissecting Brazil’s agribusiness.
The week in review
- Oil & gas. Supreme Court Deputy Chief Justice Dias Toffoli accepted Petrobras’ request to suspend a verdict which obligated the state-owned company to pay BRL 17.2bn in a labor dispute. The justice highlighted the “devastating economic effects” the decision could have on Petrobras’ financial health. The ruling is temporary and will be analyzed by the court after the judicial recess.
- Federal budget. The federal government registered a BRL 32.8bn primary deficit in the first half of the year – its best result since 2015. However, public spending should grow over the next months to pay for the subsidies on diesel granted by the government during May’s truckers strike.
- Fake news. Facebook shut down 196 pages and 87 accounts used by the Free Brazil Movement (MBL), a right-wing organization, to spread
false information. The accounts violated Facebook’s profile policies. MBL promised to retaliate – and members of the group camped outside of Facebook’s São Paulo office.
- BRICS Summit. President Michel Temer’s BRICS Summit participation ended with mixed results. A new office for the so-called “BRICS Bank” will open in São Paulo. But for the second straight year,...