Brazil Reports

Amid the record market downturn on October 26, the day after Luiz Inácio Lula da Silva’s unexpected election victory, one company managed to beat the market: Nu Holdings. The fintech, which is the parent company of e-banking app Nubank, was the only one of the seven Brazilian fintechs listed in the United States and tracked by Finsiders Brasil, a Brazilian fintech news site, to beat the Ibovespa, Brazil’s benchmark stock index.   Lula won the October 25 second round with 51.79% o

President Luiz Inácio Lula da Silva won an unprecedented fourth term over right-wing senator Flávio Bolsonaro in last week’s runoff election. Climate activists are celebrating his victory as a win for the fight against global climate change, but experts warn that a rightward shift in Brazil’s Congress could still leave the rainforest under threat. About 60% of the Amazon lies within Brazil, which gives the country’s environmental policy an outsized global impact.  Scie

Buenos Aires, Argentina – Not only did Luiz Inácio Lula da Silva defy the odds to win Brazil’s presidential election on October 25, he bucked a trend of anti-incumbency that has swept Latin America in recent years. Despite trailing Flavio Bolsonaro by over two million votes in the October 4 first round, Lula won by a margin of 4.4 million ballots on Sunday after increasing his total by 10.4 million votes in a matter of three weeks.  The result marks the first time a presidential candi

Much has been written about what Luiz Inácio Lula da Silva’s astounding October 25 victory over Flávio Bolsonaro means for Brazil’s security, democracy, and economy, and for its fraught relationship with the Donald Trump administration. Significantly less has been written about what it means for Brazil’s position in the world, and the world’s position in Brazil. As Latin America’s largest economy and a founding member of the BRICS organization, Brazil increasingly acts as both a regional and

As Brazil heads to a knife-edge presidential run-off race on Sunday, the country’s uncertain future goes beyond the political arena, affecting Brazilians’ mental health. With the vote torn between right-wing Flavio Bolsonaro and leftist incumbent Luiz Inácio Lula da Silva, Brazilian citizens describe uncertainty and anxiety over the outcome of the election.  A September poll found 46% of Brazilian voters were more worried about the outcome of this year’s election than they

Almost one million Brazilians abroad, living in over 134 countries, are eligible to vote in Sunday’s tight presidential run-off race, amounting to roughly 0.5% of the vote. Speaking to Brazil Reports, Brazilians abroad cited concerns ranging from corruption to safety that have determined their choice between incumbent President Luiz Inácio Lula da Silva of the Workers’ Party (PT) and Flávio Bolsonaro of the Liberal Party (PL). Many others are abstaining altogether, apathetic to the p

On October 19, Brazil’s Superior Electoral Court gave U.S. tech giant Meta 24 hours to prove it is treating the Brazilian presidential candidates equally, following allegations from President Luiz Inácio Lula da Silva’s campaign that the company was favoring his opponent, Flávio Bolsonaro. The ultimatum was the latest allegation from the highest levels of Brazilian government of U.S. interference in the knife-edge election. With the two candidates now heading into a runoff on Sunday, Octob

Brazil’s leading presidential candidates took the debate stage on Sunday, one week before the October 25 run-off elections. While the two traded barbs, the debate offered little in the way of substance for Brazilian voters, who are concerned about everything from healthcare, to education and public security, according to a recent Datafolha poll.  On one side, the incumbent, left-wing President Luiz Inácio Lula da Silva, is seeking a fourth term as president of Latin America’s larges

Buenos Aires, Argentina – Days before the presidential runoff, Brazil’s Senate voted in favor of abolishing one of the longest workweek systems in the world.  On Wednesday, the legislators of the Upper House approved a constitutional amendment that reduces Brazil’s workweek from 44 hours to 40 hours. The law guarantees two days of rest for every five days of work, without a salary cut. The vote was almost unanimous, with 75 votes in favor and one against. To make the change, an am

The Brazilian real soared as much as 5% while Brazil’s benchmark Ibovespa stock index rallied 7% in response to right-wing candidate Flavio Bolsonaro’s lead in the first-round of presidential elections.  The markets’ reaction signals enthusiasm over the fiscal austerity and de-regulation commitments made throughout Bolsonaro’s campaign, as well as the sweeping success of his Partido Liberal (PL) in concurrent legislative elections.  PL candidates won 19 of 54 contested seats in t

The Brazilian real soared as much as 5% while Brazil’s benchmark Ibovespa stock index rallied 7% in response to right-wing candidate Flavio Bolsonaro’s lead in the first-round of presidential elections.  The markets’ reaction signals enthusiasm over the fiscal austerity and de-regulation commitments made throughout Bolsonaro’s campaign, as well as the sweeping success of his Partido Liberal (PL) in concurrent legislative elections.  PL candidates won 19 of 54 contested seats in t

Brazil’s pet industry is being actively reshaped by families increasingly choosing cats.  The number of cats in Brazilian homes rose 4.5% in 2024, roughly double the global rate, according to a new study from the industry association Abempet released in September. Dogs still outnumber them, but cats are now the fastest-growing part of a market that is expected to earn about R$81 billion ($16.26 billion USD) this year. That trend matches what one of the pet industry’s best-known

London, England – This Sunday, Brazilians across the world will vote in the first round of the presidential election. 13 candidates are running, but the battle is really between President Luiz Inácio Lula da Silva, or “Lula” of the Worker’s Party (PT) and Flávio Bolsonaro of the Liberal Party (PL). Notably, Flávio is the son of ex-president Jair Bolsonaro, who is currently under house arrest for his involvement in a coup plot against Lula back in 2022. Nearly one million Brazilians abroad

São Paulo, Brazil – A small statue of the Virgin Mary, found by fishermen in a river over three centuries ago, is now at the center of a dispute in Brazil’s presidential election. The controversy began with claims that Flávio Bolsonaro, the evangelical senator running for president for the Liberal Party, intended to strip Our Lady of Aparecida of her title as patron saint of Brazil if elected. There is no current bill backed by Bolsonaro to do so, nor is there evidence that he has propose

São Paulo, Brazil — Brazil’s President Luiz Inácio Lula da Silva used his address to the United Nations General Assembly in New York City on Tuesday to deliver a broad defense of national sovereignty, while sharply criticizing Israel’s conduct in Gaza, the use of tariffs as political leverage, and what he described as renewed attempts by powerful countries to interfere in Latin America. Speaking less than two weeks before Brazil’s October 4 election, Lula said the international system w

São Paulo, Brazil – Brazil has fined TikTok owner ByteDance R$153.7 million ($29.8 million) for improperly processing the personal data of children and teenagers, the first financial penalty imposed on a social media company by the country’s data protection authority. The National Data Protection Authority, known by its Portuguese acronym ANPD, said TikTok failed to prevent minors from having their data processed without a valid legal basis and lacked sufficient safeguards to stop childre

São Paulo, Brazil –  It was 175 kilometers off the coast of the eastern state of Amapá, beneath almost three kilometers of water, that Brazilian state oil giant Petrobras made a discovery President Luiz Inácio Lula da Silva has described as a “passport to the future.”  On August 14, rock samples and electrical logging indicated the presence of hydrocarbons in the Atlantic Ocean, some 500km (310 miles) from the mouth of the Amazon River. The discovery took place in the Foz do

Global South World,  the international digital news outlet,  launched a Portuguese-language platform in Brazil, marking its first expansion into Latin America’s largest media market. The new website, Global South World Brasil, will publish coverage of politics, business, international affairs, lifestyle and general news for Brazilian audiences, following the company’s goal to grow its audience in the region. Based in São Paulo, the site and associated social media platforms

Brazilian ex-president Jair Bolsonaro has denied involvement in the use of his likeness in an AI-generated video which appeared at the launch of his son Flávio Bolsonaro’s presidential campaign on Saturday.  Brazil’s Supreme Court is investigating whether the case breaches a law banning the jailed former leader from using social media, giving interviews or otherwise communicating publicly. The scandal comes amid Brazil’s heated presidential race in which Flávio Bolsonaro i

A 12.5% United States tariff on all Brazilian goods came into effect today just days after the White House slapped a 25% levy on a range of exports from the South American country.  Washington has accused Brazil of unfair trade practices toward U.S. companies and poor enforcement of ‘forced labor’ standards. The 25% tariffs target goods including furniture, ethanol, machinery, footwear and sugar while the 12.5% levy – also applied to 59 other countries – is universal. The Office of