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BUSINESS
October 30, 1997 | From Bloomberg News
In a move that highlights how closely its fortunes are tied to the U.S., Brazil's stock exchanges on Wednesday shifted trading hours so they won't be whipsawed by wild market swings before U.S. stocks start trading. The Sao Paulo stock exchange, known as the Bovespa index, and the Rio de Janeiro exchange delayed opening by two hours to noon, or 9 a.m. Eastern Standard Time, and extended closing by one hour to 6 p.m., or 3 p.m. Eastern Standard Time.
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BUSINESS
March 20, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
New political and energy worries weighing on Argentina and Brazil sent both countries' stock markets reeling Monday as fears of renewed economic instability reverberated around the hemisphere. The effect of the U.S. economic slowdown also is taking an increasing toll. Brazil's main stock index, the Bovespa, fell 401.13 points, or 2.6%, and Argentina's fell 8.58 points, or 1.
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BUSINESS
January 8, 1999 | CHRIS KRAUL, TIMES STAFF WRITER
Renewed fears of a Brazilian economic crisis sent stocks plummeting, interest rates rising and foreign capital fleeing Thursday after a large Brazilian state ordered a 90-day freeze on payments toward its $15-billion debt to the federal government. Nervousness about the moratorium declared by the governor of Minas Gerais--dismissed by some as political grandstanding--raised fresh doubts about Brazil's fiscal future and sent chills throughout the hemisphere. As Brazilian stocks tumbled 5.
BUSINESS
January 12, 1999 | From Bloomberg News
Brazilian markets reeled as the federal government cut off aid to a state that suspended debt payments, threatening the same retaliation against other regions seeking to renegotiate billions of dollars of obligations to Brasilia. The escalating conflict among Brazil's cash-strapped governments makes it tougher for the federal government to narrow its projected $64-billion deficit and reduce interest rates that topped 32%.
BUSINESS
March 22, 1990 | From Reuters
Brazil's key stock market index, the Bovespa, fell 22.3% Wednesday, a one-day record, in the third day of precipitous drops since the announcement last week of a Draconian economic program that has shaken the nation. Fernando Collor de Mello, who took office last Thursday, announced severe monetary and fiscal measures aimed at eliminating Brazil's soaring inflation rate. The measures have taken the equivalent of $115 billion, or 80% of the total money Brazil has, out of circulation.
BUSINESS
March 20, 2001 | CHRIS KRAUL, TIMES STAFF WRITER
New political and energy worries weighing on Argentina and Brazil sent both countries' stock markets reeling Monday as fears of renewed economic instability reverberated around the hemisphere. The effect of the U.S. economic slowdown also is taking an increasing toll. Brazil's main stock index, the Bovespa, fell 401.13 points, or 2.6%, and Argentina's fell 8.58 points, or 1.
BUSINESS
January 12, 1999 | From Bloomberg News
Brazilian markets reeled as the federal government cut off aid to a state that suspended debt payments, threatening the same retaliation against other regions seeking to renegotiate billions of dollars of obligations to Brasilia. The escalating conflict among Brazil's cash-strapped governments makes it tougher for the federal government to narrow its projected $64-billion deficit and reduce interest rates that topped 32%.
NEWS
September 15, 1998 | CHRIS KRAUL, TIMES STAFF WRITER
World economic leaders are nearing a consensus that Latin America, especially Brazil, must be saved from an Asian-style economic collapse. That consensus crystallized Monday as the world community, led by President Clinton, made the survival of emerging markets a priority. The major industrialized nations seem ready to draw a line in the sand with Brazil out of fear that the collapse of Latin America's largest economy would be an enormous setback in the global shift toward free-market economies.
BUSINESS
September 10, 1998 | Times Wire Services
Brazilian stocks fell for a fifth straight session on Wednesday, losing 2.8% amid investor fears that measures to stem capital flight did not go far enough. The government has spent close to $20 billion in foreign reserves since Aug. 1 to defend the currency, the real. A 50% interest rate hike and $10.7 billion in budget cuts announced since Friday have failed to mollify the markets.
BUSINESS
January 8, 1999 | CHRIS KRAUL, TIMES STAFF WRITER
Renewed fears of a Brazilian economic crisis sent stocks plummeting, interest rates rising and foreign capital fleeing Thursday after a large Brazilian state ordered a 90-day freeze on payments toward its $15-billion debt to the federal government. Nervousness about the moratorium declared by the governor of Minas Gerais--dismissed by some as political grandstanding--raised fresh doubts about Brazil's fiscal future and sent chills throughout the hemisphere. As Brazilian stocks tumbled 5.
NEWS
September 15, 1998 | CHRIS KRAUL, TIMES STAFF WRITER
World economic leaders are nearing a consensus that Latin America, especially Brazil, must be saved from an Asian-style economic collapse. That consensus crystallized Monday as the world community, led by President Clinton, made the survival of emerging markets a priority. The major industrialized nations seem ready to draw a line in the sand with Brazil out of fear that the collapse of Latin America's largest economy would be an enormous setback in the global shift toward free-market economies.
BUSINESS
September 10, 1998 | Times Wire Services
Brazilian stocks fell for a fifth straight session on Wednesday, losing 2.8% amid investor fears that measures to stem capital flight did not go far enough. The government has spent close to $20 billion in foreign reserves since Aug. 1 to defend the currency, the real. A 50% interest rate hike and $10.7 billion in budget cuts announced since Friday have failed to mollify the markets.
BUSINESS
October 30, 1997 | From Bloomberg News
In a move that highlights how closely its fortunes are tied to the U.S., Brazil's stock exchanges on Wednesday shifted trading hours so they won't be whipsawed by wild market swings before U.S. stocks start trading. The Sao Paulo stock exchange, known as the Bovespa index, and the Rio de Janeiro exchange delayed opening by two hours to noon, or 9 a.m. Eastern Standard Time, and extended closing by one hour to 6 p.m., or 3 p.m. Eastern Standard Time.
BUSINESS
March 22, 1990 | From Reuters
Brazil's key stock market index, the Bovespa, fell 22.3% Wednesday, a one-day record, in the third day of precipitous drops since the announcement last week of a Draconian economic program that has shaken the nation. Fernando Collor de Mello, who took office last Thursday, announced severe monetary and fiscal measures aimed at eliminating Brazil's soaring inflation rate. The measures have taken the equivalent of $115 billion, or 80% of the total money Brazil has, out of circulation.
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