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The Epidemic Known as Coronavirus Has Spread and Is Affecting Petrobras and Soon Could Even Affect Job Openings
“In addition to the fatal victims, the rapid spread of the coronavirus has left its marks on the global and Brazilian economy, mainly at Petrobras. The origin of the outbreak, China has the second largest GDP on the planet, and a slowdown in its economy ends up affecting the whole world – with effects, for example, on countries that depend heavily on exports to the Asian country, such as Brazil.
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On one hand, it affects companies’ earnings and economic activity, but on the other hand, falling commodity prices could lower the cost of some products. One example: if the decline in oil prices persists, fuels could become cheaper in Brazil. However, for that to happen, the decline of the real against the dollar cannot be too strong, as the rise of the U.S. currency works in the opposite direction, inflating the price of goods traded in the international market.”
The First Reaction to the Coronavirus Was in the Financial Market
In an attempt to contain the spread of the virus, China adopted drastic measures to reduce the flow of people on the streets and movements across the Asian continent. Global stock markets started the week down. The price of oil fell below US$ 60 for the first time in nearly three months. The dollar appreciated against the real. And even the projections for the Selic – the benchmark interest rate of the Brazilian economy – were revised.
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A Brazilian municipality relies on 97% federal money, has 14 secretariats, 11 councilors, and a budget of R$ 131 million, but only 915 people are formally employed, and no one knows how the other 25,000 live.
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Argentina steps on the accelerator to become a power with a $20 billion agreement, immediate release of $1 billion, reserves above $5.5 billion, and a decrease in poverty to 28.2%.
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Hong Kong leads the ranking of the most expensive fuel in the world and is suffering from a global crisis.
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Giant refrigerator arrives in Ceará with a new factory to slaughter 1,000 cattle per day and promises to shake up the livestock industry in the state.
On Tuesday (04), the World Health Organization (WHO) admitted that it was wrong in its initial assessment of the effects of the coronavirus. The organization began to classify the risk of the new virus as “high,” no longer “moderate.” The WHO also stated that the disease is still not a global health emergency, but “it could become one.” The last were the swine flu (H1N1), the Zika virus, and Ebola.”
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