
Brazil Investigates Alleged Insider Trading Tied to Trump Tariff News
Justice Alexandre de Moraes issued the order on Monday in response to a request from Brazil's attorney general based on local media reports of significant foreign exchange transactions shortly before and after the official tariffs announcement on July 9. The attorney general said the currency movements suggested 'possible use of privileged information (insider trading) by individuals or legal entities.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
OJ maker sues Trump over Brazil tariffs saying his plan could drive up consumer costs by 25%
A New Jersey-based orange juice manufacturer has announced that it is suing Donald Trump's administration over the president's threatened 50 percent tariffs on Brazil, a country whose citrus exports it depends on. Johanna Foods warns that Trump's blanket levy, due to take effect on August 1, could result in a $70 million hit to its business, leading to likely layoffs and a 25 percent increase in the price of orange juice on supermarket shelves. The company said that it and its subsidiary, Johanna Beverage Company, supply nearly three-quarters of private-label, not-from-concentrate orange juice consumed in the United States. They supply a number of major mass grocery retailers, including Aldi, Walmart, Sam's Club, Wegman's, Safeway, and Albertsons. Trump's tariff would represent a particular blow because, by the Department of Agriculture's own estimate, Brazil supplies more than half of the orange juice on shelves in American stores, and 80 percent of the global total. White House spokesperson Kush Desai told The Independent: 'The administration is legally and fairly using tariff powers that have been granted to the executive branch by the Constitution and Congress to level the playing field for American workers and safeguard our national security.' Johanna argues in its lawsuit that Trump's threat against Brazil, revealed in a letter sent to the country's president Luiz Inacio Lula da Silva on July 9, was not a formal executive order and did not provide any legal basis for the action. The president followed up his letter by alleging on Truth Social that President Lula had engaged in a 'Witch Hunt that should end IMMEDIATELY!' after charges were brought against his right-wing predecessor, Jair Bolsonaro, a friend of the American who has been nicknamed the 'Trump of the Tropics' and who has been accused of plotting a coup. Lula responded angrily on X with a vow to reciprocate with tariffs of his own on American imports, writing: 'Brazil is a sovereign nation with independent institutions and will not accept any form of tutelage. 'Any measure to increase tariffs unilaterally will be responded to in light of Brazil's Law of Economic Reciprocity.' Trump's economic adviser, Kevin Hassett,struggled to explain the tariffs in an interview with Jonathan Karl on ABC News earlier this month, saying: 'The bottom line is the president has been very frustrated with negotiations with Brazil and also with the actions of Brazil. In the end, though, you know, we're trying to put America first.' Karl argued that the Bolsonaro case before the Brazilian Supreme Court was irrelevant to the U.S. national interest and left the adviser floundering by asking: 'On what authority does the president have to impose tariffs on a country because he doesn't like what that country's judicial system is handling a specific case?' Even before the tariffs have been enacted, Trump's threats have had an adverse impact on the South American nation's citrus belt, where orange prices have already dropped to $8 a box, about half of what they were in July 2024, according to the University of Sao Paulo's Cepea index. 'You are not going to spend money to harvest and not have anyone to sell to,' dismayed Minas Gerais farmer Fabricio Vidal told Reuters. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Fox News
2 hours ago
- Fox News
Rubio rips Venezuela's Maduro as 'narco-terrorist' leader threatening US one year after disputed election
Secretary of State Marco Rubio is hammering Venezuelan dictator Nicolás Maduro on Sunday as the South American country holds municipal elections to fill hundreds of mayoral positions and thousands of council seats. The municipal contests are happening one day before the one-year anniversary of Venezuela's presidential election, which was widely condemned by the United States and other international observers as illegitimate. The Trump administration, meanwhile, has been escalating pressure against Maduro in recent days, as Treasury Secretary Scott Bessent on Friday accused the foreign head of state of being the leader of an entity aiding terrorism against the U.S. "One year since dictator Nicolás Maduro defied the will of the Venezuelan people by baselessly declaring himself the winner, the United States remains firm in its unwavering support to Venezuela's restoration of democratic order and justice," Rubio said in a statement on Sunday. "Maduro is not the President of Venezuela and his regime is not the legitimate government." "Maduro is the leader of the designated narco-terrorist organization Cartel de Los Soles, and he is responsible for trafficking drugs into the United States and Europe," Rubio continued. "Maduro, currently indicted by our nation, has corrupted Venezuela's institutions to assist the cartel's criminal narco-trafficking scheme into the United States." The Justice Department charged Maduro and 14 other former and current Venezuelan officials with narco-terrorism, corruption, drug trafficking and other criminal charges in March 2020. At the start of this year, 10 days before President Donald Trump returned to office, the State Department increased its reward for information leading to Maduro's capture from $15 million to up to $25 million. "For years, Maduro and his cronies have manipulated Venezuela's electoral system to maintain their illegitimate grip on power," Rubio added on Sunday. "By scheduling the municipal elections on the eve of the anniversary of the stolen July 28 presidential election, the regime once again aims to deploy the military and police to suppress the will of the Venezuelan people." "The United States will continue working with our partners to hold accountable the corrupt, criminal and illegitimate Maduro regime. Those who steal elections and use force to grasp power undermine America's national security interests," Rubio said. Maduro became the Venezuelan president in 2013, but the U.S. has not recognized his presidency since 2019. The U.S. and other countries have refused to recognize Maduro as the winner of the July 2024 Venezuelan election, citing widespread fraud. The Treasury Department on Friday sanctioned the Cartel de los Soles, also known as Cartel of the Suns, as a "Specially Designated Global Terrorist." The U.S. alleges that Cartel de los Soles is headed by Maduro and other Venezuelan high-ranking individuals in his regime "who corrupted the institutions of government in Venezuela, including parts of the military, intelligence apparatus, legislature, and the judiciary, to assist the cartel's endeavors of trafficking narcotics into the United States." The U.S. claims the Venezuela-based group provides material support to Tren de Aragua and the Sinaloa Cartel. The Trump administration classified Tren de Aragua and the Sinaloa Cartel as foreign terrorist organizations in February. According to the Treasury Department, the name Cartel de los Soles is derived from the sun insignias often portrayed on the uniforms of Venezuelan military officials. The cartel "supports Tren de Aragua in carrying out its objective of using the flood of illegal narcotics as a weapon against the United States," according to the Treasury Department. Bessent said on Friday that the new action "exposes the illegitimate Maduro regime's facilitation of narco-terrorism through terrorist groups like Cartel de los Soles." "The Treasury Department will continue to execute on President Trump's pledge to put America First by cracking down on violent organizations including Tren de Aragua, the Sinaloa Cartel, and their facilitators, like Cartel de los Soles," he added.
Yahoo
3 hours ago
- Yahoo
With Alta Copper Up 15%, Insider Buyers Count Their Returns
Alta Copper Corp. (TSE:ATCU) insiders who purchased shares in the last 12 months were richly rewarded last week. The stock climbed by 15% resulting in a CA$8.5m addition to the company's market value. In other words, the original US$300.5k purchase is now worth US$506.4k. While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we do think it is perfectly logical to keep tabs on what insiders are doing. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Alta Copper Insider Transactions Over The Last Year The CEO, President & Director Giulio Bonifacio made the biggest insider purchase in the last 12 months. That single transaction was for CA$80k worth of shares at a price of CA$0.41 each. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of CA$0.71. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices. In the last twelve months Alta Copper insiders were buying shares, but not selling. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction! Check out our latest analysis for Alta Copper Alta Copper is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying. Insiders At Alta Copper Have Bought Stock Recently We saw some Alta Copper insider buying shares in the last three months. CEO, President & Director Giulio Bonifacio shelled out CA$15k for shares in that time. It's great to see that insiders are only buying, not selling. However, in this case the amount invested recently is quite small. Does Alta Copper Boast High Insider Ownership? Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. Our data suggests Alta Copper insiders own 2.8% of the company, worth about CA$1.9m. I generally like to see higher levels of ownership. So What Do The Alta Copper Insider Transactions Indicate? We note a that there has been a bit of insider buying recently (but no selling). The net investment is not enough to encourage us much. However, our analysis of transactions over the last year is heartening. We'd like to see bigger individual holdings. However, we don't see anything to make us think Alta Copper insiders are doubting the company. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example, Alta Copper has 3 warning signs (and 2 which don't sit too well with us) we think you should know about. Of course Alta Copper may not be the best stock to buy. So you may wish to see this free collection of high quality companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio