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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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The prospector who heard about the advance of soy in Maranhão and opened a grocery store in Balsas in 1986 transformed that small store into Grupo Mateus, the third largest supermarket in Brazil, with revenues of R$ 43.5 billion and 490 units.
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Fiserv, the world’s largest payment processor, has just inaugurated its first factory outside Asia in Brazil. The unit in Betim (MG) will produce 100,000 Clover payment terminals per year and is part of a US$100 million investment that includes technology and expansion until 2027.
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Fiserv, the world’s largest payment processor, has just opened its first factory outside Asia in Brazil. The unit in Betim (MG) will produce 100,000 Clover payment terminals per year and is part of a US$100 million investment that includes technology and expansion until 2027.
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Pix could become a headache between Brazil and the US, and the Lula government will go to the White House to explain the system before pressure mounts.
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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