Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : The Brazil Board -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (517)	9/30/2011 1:48:58 AM
From: elmatador	Respond to of 2516

Hi WG! Foxxconn is already there the discussion is only about a third assembly line for tablets. The news is all about horse trading. Foxconn currently houses plants for HP and Sony in Jundiai and is preparing to open a third manufacturing line in 2013 after receiving millions of dollars of investments. worldwidegadget.blogspot.com Brazil got a lot of multinationals operating there and not likely will bend to the Chinese ealse all others want the same treatment.

To: Wyätt Gwyön who wrote (517)	10/27/2011 2:06:00 PM
From: elmatador	Respond to of 2516

Bovespa Approaches Bull Market as Valuations, Rates Spur Rebound Oct. 27 (Bloomberg) -- Brazilian stocks approached a bull market as the cheapest valuations in more than two years and declining interest rates helped spark a rebound from the worst equity slump since the 2008-2009 financial crisis. The benchmark Bovespa index gained 3.2 percent to 58,975.88 at 11:26 a.m. in Sao Paulo, extending its gain to more than 21 percent from a bear-market low on Aug. 8, after European leaders agreed to expand a bailout fund to stem the region’s debt crisis. The gauge had lost 33 percent from a November 2010 peak through that date, dragging its price to 7.9 times estimated earnings, the lowest since March 2009, according to data compiled by Bloomberg. Brazil’s central bank has lowered the benchmark rate twice since August, cutting it to 11.5 percent, to shore up growth amid concern the European crisis could derail the global recovery. The cuts buoyed stocks by luring investors away from the country’s fixed-income assets and by deepening a slide in the currency that shored up exporters’ profit margins and made stocks cheaper in dollar terms. The decline in the currency “was part of the market getting ridiculously cheap,” said Urban Larson, who helps manage about $2.2 billion in emerging-market assets at F&C Management Ltd. in London. “Valuations were irresistible to a lot of people. There’s still a lot of uncertainty in the world. We need less uncertainty for the market to really get going.” Commodities have rebounded 5.2 percent since Aug. 8, boosting revenue for Brazil’s producers, as European policy makers stepped up their efforts to contain the region’s debt crisis, according to the Standard & Poor’s GSCI index of 24 raw materials. Global Stocks, Commodities Global stocks and commodities surged today after French President Nicolas Sarkozy said the euro region’s bailout fund will be leveraged by four to five times, and investors have agreed to a voluntary writedown of 50 percent on Greek debt. A bull market is typically defined as an advance of at least 20 percent from the preceding bear-market low. The Bovespa is still down 15 percent this year as concern persists about the impact of a slowing global economy and quickening domestic inflation. Economists cut their estimates for Brazil’s 2011 gross domestic product expansion to 3.3 percent from 4.5 percent at the beginning of the year, according to the central bank’s weekly survey published Oct. 24. OGX Petroleo & Gas Participacoes SA, the oil company controlled by billionaire Eike Batista, has led gains in Sao Paulo since the Bovespa’s two-year low on Aug. 8, surging 59 percent as oil rebounded 12 percent. Embraer, Gerdau Embraer SA, the world’s fourth-largest plane builder, is up 44 percent in that period, while airlines Gol Linhas Aereas Inteligentes SA and Tam SA have gained 51 percent and 44 percent, respectively. Gerdau SA, Latin America’s largest steelmaker, has increased 36 percent. Analysts cut their forecasts for 2012 inflation for the first time in eight weeks, the latest central bank survey showed, after a report from the national statistics agency revealed that annual inflation had retreated from a six-year high, slowing in mid-October for the first time in 14 months. The real plunged as much as 26 percent against the dollar from the end of July through Sept. 22 in intraday trading before paring its loss to 10 percent through today. The currency advanced 1.8 percent today to 1.7275 per dollar. “We weren’t that bullish on Brazil in the last couple of years,” Nudgem Richyal, a money manager at JO Hambro Capital Management Ltd. in London, said Oct. 20. “We’ve become more sanguine recently given the selloff in the currency.” --With assistance from Eduardo Thomson in Santiago. Editors: Richard Richtmyer, Brendan Walsh To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulos@bloomberg.net

To: Wyätt Gwyön who wrote (517)	11/22/2011 11:15:43 AM
From: elmatador	1 Recommendation Respond to of 2516

Itau to Boost Europe Operations as Credit Book Increases 24% Itau Unibanco Holding SA’s wholesale arm expects to increase its European credit portfolio in 2012, extending a 24 percent jump in lending this year as companies from the region invest in Latin America. “We are expanding the business,” Renato Lulia-Jacob, head of corporate banking for North America, Europe and Asia, said in an interview at Itau’s London headquarters. “We’re bringing more and more people to this office and we’re hiring more people at some other subsidiaries in Europe.” Itau’s European credit portfolio increased to 4.1 billion euros ($2.3 billion) at the end of September from 3.3 billion euros a year earlier and includes some Latin American assets, such as trade-finance contracts, he said Nov. 18. Lulia-Jacob said he expects lending next year to exceed that total. Credit to European companies may expand as firms seek stakes in Latin American oil, gas and infrastructure projects, according to projections by Sao Paulo-based Itau, Brazil’s biggest bank by market value. ArcelorMittal (MT), the world’s biggest steelmaker, will bid for a port concession in the state of Rio de Janeiro with Usinas Siderurgicas de Minas Gerais SA and logistics company Multiterminais, the Luxembourg-based ArcelorMittal said last week. Repsol YPF SA (REP), Spain’s biggest oil company, plans to invest 28 billion euros from 2010 to 2014 to develop oil fields in Venezuela, Bolivia and Algeria. Latin America’s economy is expected to outpace Europe next year, with expansion of 4.5 percent for the continent as a whole and 3.8 percent in Brazil, according to Bloomberg data. The euro zone is forecast to increase 0.7, Bloomberg data show Team Expansion Itau boosted its corporate-banking team in Europe to 145 people at the end of September from 137 the year earlier, Lulia- Jacob said. Most were hired for London, with some in Frankfurt and Paris, he said. “This market is important to us and we have been doing very well in the region,” Lulia-Jacob said. “If we had more business coming in, we’d be ready to increase the structure and cope with that.” Itau may consider acquisitions in Europe, he said. “It’s our duty to have our ears and eyes open to whatever happens in the market and analyze whatever comes up to our table,” Lulia- Jacob said. Parent company Itau Unibanco Holding said total lending increased 23 percent in the third quarter to 382.2 billion reais ($211.5 billion) from a year earlier, according to a regulatory filing on Nov. 1. The bank maintained its outlook for credit expansion of 16 percent to 20 percent this year. Itau’s shares have lost 24 percent this year, compared with an 18 percent decline for the country’s benchmark Bovespa index. To contact the reporter on this story: Karen Eeuwens in London at keeuwens@bloomberg.net. To contact the editors responsible for this story: Helder Marinho at hmarinho@bloomberg.net; David Scheer at dscheer@bloomberg.net

To: Wyätt Gwyön who wrote (517)	9/25/2012 9:58:49 AM
From: elmatador	Respond to of 2516

Foxconn to Build Fifth Brazil Plant By LORRAINE LUK TAIPEI—Contract manufacturer Foxconn Technology Group, 2317.TW -2.40%which counts Apple Inc. AAPL -0.13%and Sony Corp. 6758.TO +0.21%as major customers, will build a fifth factory in Brazil, whose tax breaks and proximity to fast-growing markets are making it an attractive alternative to China. Foxconn, the parent of Hon Hai Precision Industry Co., 2317.TW -2.40%first invested in Brazil, the largest country in Latin America, only last year. While founder Terry Gou had said earlier that China would remain the company's major production base for the foreseeable future—80% of its workforce is there—analysts said rising labor costs and taxes have led companies like Foxconn to reassess growth opportunities there. Taipei-based Foxconn said in a statement Wednesday it has earmarked one billion Brazilian reals (US$492 million) for the new facility in São Paulo, which will produce smartphones, tablets and other electronic devices. The plant will start operations in 2014 and reach full capacity in 2016, employing 10,000 workers, the company added. It didn't specify which customers the new factory will produce for. Brazil has been aggressively courting overseas manufacturers, last year cutting federal and state taxes on the production of tablet computers, which could reduce costs by up to 30%. Since then, Foxconn has built four plants in Brazil, mostly to make tablets. Acer Inc., 2353.TW -2.31%a Taiwanese personal-computer maker, has also expanded its assembly line in the country.