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Monday, February 6, 2023
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Planalto dribbles Guedes, the richest new Brazilian and what matters in the market

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Planalto dribbles Guedes with PEC

In disagreement with the economic team, Palácio do Planalto prepared a PEC to reduce fuel taxes and handed it to an allied deputy to be filed in the Chamber.

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Understand: the proposal filed by deputy Christino Áureo (PP-RJ) allows the Union, states and municipalities to reduce and even zero tax rates levied on fuel and gas. The measures could be adopted in 2022 and 2023 and would not need a source of revenue or cost cutting for compensation.

  • The document’s properties show that the proposal was drafted by an employee of the Civil House. The impact can reach BRL 54 billion for the Union, according to internal government calculations.
  • Wings of the government support a broader alternative text in the Senate, which also includes gas aid for more families, a subsidy to curb bus fares and diesel aid for truck drivers.

why it matters: Measures to alleviate the rise in fuel prices became the number one priority for the Planalto. The government has already suggested other possibilities, such as a price stabilization fund, which did not advance, and a tax cut only on diesel – a proposal agreed with Minister Paulo Guedes (Economy).

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On Thursday (3), former president Lula said that, if elected, he would not maintain Petrobras’ current pricing policy, which follows the variation of the real against the dollar and international oil prices.

Why go up? International prices, exchange rates, Petrobras profit, taxes, distribution and resale costs…. understand here what defines the value of fuels in Brazil.


Zuckerberg out of the top 10 and richest new Brazilian

The shares of Meta, owner of Facebook, collapsed 26% this Thursday (3), in the first trading session after the company’s results were released.

the company lost $251 billion (R$ 1.3 trillion) in market value and led to the fall of other techs, which made Nasdaq retreat 3.74%.

The reflections of the fall:

  • Marz Zuckerberg’s net worth has plummeted almost $30 billionand the founder of Facebook left the list of the ten richest people in the world, according to the real-time ranking of Forbes magazine, which is led by Elon Musk.
  • Brazilian Eduardo Saverin, co-founder of Facebook, saw his equity fall by US$ 4.3 billion, to US$13.3 billion (R$70.5 billion) and lost the position of richest in the country.
  • Jorge Paulo Lemann reassumes leadership after seven months, with a fortune valued at $16 billion (R$84.8 billion).

What explains: investors reacted very badly to a combo of bad news delivered by Meta’s balance sheet.

The company lowered its revenue estimates for this quarter, showed a drop in profits and users and was still worried about competition from apps like TikTok. Apple’s privacy changes also got in the way.

Amazon shoots: after falling almost 8% on the trading floor, the retailer’s shares rose 14% in the aftermarket this Thursday with the release of the balance sheet. In the fourth quarter, the company posted a profit of US$ 14.32 billion (R$ 76 billion), almost double the amount obtained in the previous year.

  • As expected by analysts, the company announced an increase in the price of Prime, a shipping and streaming service, in the US. Rates had last gone up four years ago.
  • The 40% increase in Amazon Web Services (AWS) revenue to $17.8 billion also caught the attention of investors. The cloud computing service is one of the company’s most profitable.

Opinion: Facebook and Netflix may announce the bursting of the market bubble, says columnist Marcos de Vasconcellos.


Brazil leads in card scams

The Central Bank announced this Thursday the leak of 2,112 Pix keys from customers of the payment institution Logbank, which took place between January 24th and 25th.

Two other cases of leaks, involving 160,000 and 414,000 Pix keys, have already occurred since the system was launched.

Negative leadership: Brazil was the country that most recorded credit and debit card leaks in the world in 2021. 720,643 cards exposed online, according to Axur, a cybersecurity and risk monitoring company.

  • The company has also seen a shift in the behavior of cybercriminals, who are increasingly using fake social media profiles to trick users.
  • Phishing episodes, where criminals “fish” the user to click on a malicious link, have decreased.

Remember: Brazilians had a lot of sensitive information exposed throughout 2021. The beginning of last year was marked by a mega-leak of 223 million of CPFs.

In December, the leaf found pages with sellers that offer complete data on millions of Brazilians for a monthly fee of BRL 200.


Take a break: black gold

Like any commodity, oil prices tend to fluctuate over time. But it’s hard to find another staple product that has such an impact on consumers’ pocketbooks and is so sensitive to geopolitical disputes.

In numbers: today at about $90 (R$477), the price of a barrel of the Brent type reached the highest level since 2014, but it is still far from the highs of 2008, when it went from $140 (R$ 742, at the current price).

At the time, it was influenced by the commodity boom, but also by crises in producing countries. The financial crisis that erupted in the following months, however, brought the price of a barrel below US$ 40 at the end of the year.

suggestions to better understand the history and relevance of oil:

  • “Syriana – The Oil Industry”: nominated for an Oscar in 2006 in the category of Best Original Screenplay, addresses the political and economic conflicts generated by the exploitation of the commodity. Available on HBO Max.
  • “Oil: A World History of Conquest, Power and Money:” 1992 Pulitzer Prize-winning non-fiction book traces the history of the world’s most important fuel. (Paz & Terra, trans. Leila MU Di Natale, Maria C Guimarães, R$ 151.90, 1080 pages).

In addition to the economy:


What else do you need to know

Source: Folha

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