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Rabobank has appointed Pollyana Saraiva as the new State Manager for Country Banking in Queensland, succeeding Brad James, who is retiring after over 20 years. With nearly 30 years of experience in financial services and agribusiness, Saraiva previously led Rabobank's rural banking operations in Latin America and is committed to enhancing support for agricultural producers in Queensland. She expressed enthusiasm for contributing to the region's agricultural sector and helping clients achieve their business aspirations.
Brazil's tax revenue service is considering reinstating a rule that requires fintechs to report transactions due to concerns over money laundering. The head of the agency, Robinson Barreirinhas, noted that while they have tools to track financial activities, these are not currently utilized for fintechs. Proposed regulations faced public backlash, leading to delays in implementation.
Global billionaire wealth soared to a record $14 trillion in 2024, with the U.S. leading at $5.8 trillion, driven by strong economic growth and technological innovation. In contrast, China's billionaire wealth fell to $1.8 trillion due to regulatory challenges. The tech sector emerged as the primary wealth creator, while industrial investments also surged, reflecting shifting economic dynamics.
Warren Buffett's Berkshire Hathaway has recently sold significant portions of its bank stock investments, including Bank of America and Citigroup, while maintaining its stakes in American Express and Ally Financial. American Express remains a long-term favorite, boasting a 327% total return over the past decade, while Ally, the largest auto lender in the U.S., focuses on its core business after exiting noncore operations. Both companies are viewed positively amid current economic uncertainties.
Warren Buffett's Berkshire Hathaway has invested $1.24 billion in Constellation Brands, known for popular beers like Modelo and Corona, despite the company's stock being down over 25% this year. Analysts view this as a strategic move, highlighting Buffett's focus on long-term value and market share, particularly amid concerns over tariffs affecting Mexican beer imports. Constellation's strong brand loyalty and effective marketing, especially among the growing Hispanic population in the U.S., position it well for future growth.
Alexsandro Broedel Lopes, Santander's incoming chief accounting officer, is under criminal investigation in Brazil for alleged misappropriation of funds during his tenure at Itaú Unibanco. Accusations suggest he siphoned R$4.86 million through a consultant he hired, with claims of fictitious contracts and undisclosed partnerships. While Broedel has denied wrongdoing, the investigation follows civil lawsuits filed by Itaú, raising questions about his financial dealings prior to joining Santander.
Brazilian SaaS startup Capim has secured $26.7 million in Series A funding to enhance its buy now, pay later (BNPL) services for dental care. Founded in 2021, the company aims to expand its offerings with a new POS terminal and AI-powered tools, while increasing its network of clinics from 6,000 to over 10,000 by year-end. Capim has already assisted over 60,000 Brazilians in accessing dental procedures and reported a tripling of revenue in 2024.
Nu Holdings is experiencing significant growth, with a 91% increase in customer count in Mexico and over 1 million users on its Marketplace platform. In contrast, Bank of America faces scrutiny over unrealized losses in its loan portfolio, despite a robust deposit base and projected record net interest income for 2025. Both companies are under Berkshire Hathaway's watch, with notable reductions in their stakes.
UBS BB has increased its trading volume share on B3 from 15% to 18% following its acquisition of Credit Suisse, enhancing its position as the leading institutional broker in Brazil. The influx of foreign capital, driven by shifts from China and India, has boosted the Ibovespa index, although concerns about Brazil's fiscal stability and low growth persist. As foreign investors dominate the market, UBS BB continues to expand its market share despite the challenging economic landscape.
IBERDROLA SA, a leading electricity producer and distributor in Spain, is the world's top wind power producer. In 2023, the company generated 162,024 GWh of electricity, with significant contributions from Spain (60,877 GWh) and Mexico (56,797 GWh). Its net sales are primarily derived from electricity and natural gas distribution (52.1%) and transmission (31.8%).
Brazilian Real
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Rabobank appoints Pollyana Saraiva as new Queensland state manager
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23:34 16.03.2025
brazil considers reviving fintech transaction reporting to combat money laundering risks
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global billionaire wealth reaches record 14 trillion amid shifting economic landscapes
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foreign capital influx boosts brazilian stock market amid global investment shifts
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12:50 20.02.2025
Iberdrola leads global wind power production with strong sales growth
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