Brazilian tech services company C&M resumes operations after cyberattack
C&M serves financial institutions lacking connectivity infrastructure. The central bank had ordered it to shut down financial institutions' access to its infrastructure after the cyberattack.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
17 hours ago
- Reuters
Brazil economic activity posts unexpected drop in May
BRASILIA, July 14 (Reuters) - Brazil's economic activity unexpectedly fell in May, central bank data showed on Monday, dragged down by a sharp drop in the farm sector along with declines in tax revenue and industrial output. The IBC-Br index, a leading indicator of gross domestic product (GDP), fell 0.7% in May from April on a seasonally adjusted basis, well below the flat reading expected in a Reuters poll. The decline was driven by a 4.2% drop in agricultural output, which is typically stronger in the earlier months of the year in Latin America's largest economy. Even excluding the farm sector, activity remained in negative territory, down 0.3% on the month, reflecting the impact of the central bank's aggressive monetary tightening to curb inflation. Since last September, policymakers have raised interest rates by 450 basis points to a near 20-year high of 15%. While services, the main engine of Brazil's economy, were flat in May, tax revenue fell 1.0% and industrial output declined 0.5%, according to the IBC-Br breakdown. On a year-over-year basis, the index rose 3.2%, and was up 4.0% in the 12 months through May.
Reuters
4 days ago
- Reuters
Brazil to collect $1.8 billion from debt renegotiation with big companies
BRASILIA, July 11 (Reuters) - The Brazilian government secured 10.2 billion reais ($1.8 billion) in revenue from the first round of tax debt renegotiations with major companies this year, the Treasury's attorney general and the Federal Revenue Service said. As part of the initiative, which is included in a broader effort to reduce Brazil's fiscal deficit to zero by 2025, the government is finalizing technical details to launch another three public notices to renegotiate tax debts, Treasury Attorney General Anelize Almeida told Reuters. The first-round agreements include an immediate collection of 7.6 billion reais and future payments of 2.6 billion reais. These kinds of tax debt transactions were originally created to grant discounts on debt renegotiation for companies in serious financial situations. They were made more flexible by a 2024 regulation that allowed the government to seek agreement with large companies to avoid costly and potentially unsuccessful court actions. "We're moving to a new focus of the transaction, which is the legal criteria and the litigation involved, how much it costs to maintain the litigation," Almeida said. "The economic cost of this litigation is very significant for the government and for the company." The first round primarily involved large banks. Companies agreed to drop judicial and administrative challenges, concluding 188 lawsuits.
Reuters
4 days ago
- Reuters
Brazil raises forecast for 2025 GDP growth, sees slowdown next year
BRASILIA, July 11 (Reuters) - Brazil's finance ministry raised its forecast for economic growth this year, while projecting a slight slowdown in 2026 in face of the central bank's tight monetary policy, a report showed on Friday. The ministry's economic policy secretariat now expects Brazil's gross domestic product to grow 2.5% in 2025, up from the 2.4% estimated in May. For 2026, the forecast was revised down to 2.4% from 2.5%. The fresh estimates do not take into account the 50% tariff on Brazilian goods announced by U.S. President Donald Trump earlier this week, the government said, while noting its effects would be limited. "The impact of the tariffs tends to be of little significance on 2025 growth, although some manufacturing sectors may be particularly hit," the finance ministry added.
