Cade x Petrobras, phantom hand blow and what matters in the market

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Cade x Petrobras – part 12

Cade (Administrative Council for Economic Defense) opened an administrative inquiry to determine whether Petrobras is charging more for oil sold to private refineries, possibly favoring state-owned units.

The company stated that it “acts in full compliance with current legislation and remains available to present relevant data and clarifications to Cade”.

Understand: Petrobras’ monopoly on refining ended in 2019, when it signed an agreement with Cade to sell part of its refineries. Since then, only the one from Mataripe, in Bahia, has been sold.

It is not the first time: Petrobras is the target of 12 lawsuits filed at Cade. Last week, the president of the autarchy, Alexandre Cordeiro, sent a letter to the STF stating that he would question Petrobras about its pricing policy.

More on the oil sector:

Phantom hand strike

After the user downloads an app that promises to “clean the infected cell phone”, criminals gain access to the victim’s device and search for passwords to access their bank accounts. It’s the phantom hand strike.

Understand: These cell phone cleaner ads appear on highly trafficked websites to trick the user into clicking and downloading an app.

There are also cases where criminals pose as employees of financial institutions and call the victim stating that there is a problem with the account. To fix it, they say you need to download the app from the link sent.

How the scam works: while searching the victim’s cell phone for information to access their bank accounts – in notepad, email, WhatsApp –, the criminal leaves his action in the background (without appearing on the main screen) or reduces the screen brightness.

• In this way, it may appear to the victim that the cell phone is locked. When using biometric authentication to unlock the device, this action could actually authorize a fraudulent transaction that the criminal had set up.

How to protect yourself: the traditional recommendations of not downloading suspicious apps in internet notifications stop most of the problems with mobile scams. As well as suspecting the contact of an alleged bank and looking for official channels.

• Institutions never call the customer asking for the installation of applications, the card number or transfers to solve problems with the account.

• Also, it is important to have a security solution on the device that blocks the improper installation of programs. You should also not keep passwords in notebooks or other easily accessible places.

Barbecue in the Copa will get saltier

After an interval of more than four years since the last time the Brazilian team tried the hexa, fans will have to open their pockets more if they want to follow the hopscotch games with a traditional barbecue.

The survey that considers basic basket items is released by Procon-SP, in agreement with Dieese.

In numbers: the average price per kilo of premium beef (coxão soft and duck) was R$ 22.63 in the final of the last World Cup, in July 2018. In the same month of the current year, the value practically doubled, calculated in R$ 43.89.

• The prices of second-class meats (chuck steak and muscle) also almost doubled. In the same period, the average price per kilo rose from R$17.74 to R$34.70, an increase of 95.6% – or R$16.96 more.

What explains: meats were more expensive than average in this time frame due to a set of factors. Stand out:

• Greater Chinese demand with the outbreak of African swine fever that hit the country even before the pandemic;

• the increase in costs to the producer in the wake of the increase in grains (used in animal feed) in the international market;

• the exchange rate, with the real less appreciated today than in 2018.

What increased the most: the kilo of fresh sausage went from BRL 12.54 in 2018 to BRL 21.30 in 2022 and the average price of a kilo of whole chilled chicken more than doubled, from BRL 5.76 to BRL 11.86.

On the calendar. The times (from Brasília) of Brazil’s matches in the first phase of this year’s World Cup:

• Brazil vs Serbia 11/24 (Thursday) – 4pm
• Brazil vs Switzerland 11/28 (Monday) – 3pm
• Cameroon vs Brazil 2/12 (Friday) – 4pm

Euro falls with Russian announcement

The Russian announcement that the country will not supply more gas to Germany until Western sanctions are lifted shook markets on Monday (5), especially in Europe.

The euro fell to the lowest level against the dollar in nearly two decades, and the continent’s main stock markets tumbled. In Brazil, the direction was the opposite, thanks to commodities.

Understand: After claiming that the interruption of the Nord Stream 1 pipeline was due to maintenance, Russia said on Monday that it has no deadline to restart the main source of gas supply to Germany, the continent’s largest economy.

• According to the Kremlin, Western economic blockades to the country are to blame.

In numbers: the euro closed US$ 0.9929at the lowest value of the currency against the dollar since November 2002.

• In Brazil, the common currency fell 0.86% to R$5.11, while the dollar closed down by 0.65% to R$5.15.

• The Ibovespa rose 1.21%, to 112,203 points, with highlights for Vale (3.66%) and Prio (ex-PetroRio) (6.45%).

• Commodities appreciated in the face of tension in Europe and were also influenced by data from the Chinese economy not as bad as expected.