2025-09-03 01:38
BRASILIA, Sept 2 (Reuters) - Brazil's Treasury on Tuesday made its third foreign debt sale of the year, marking the first time since 2014 that Latin America's largest economy has conducted more than two external bond sales in a single year. The country launched a new 30-year note and reopened an existing five-year benchmark, the Treasury said in a statement, lauding the transaction as "successful" and a sign of investor confidence in its economic management. Sign up here. The operations were aimed at boosting liquidity in Brazil's dollar yield curve abroad, providing benchmarks for corporate issuers, and pre-financing upcoming foreign currency debt maturities, it said. The new 30-year benchmark had a yield of 7.5%, but the Treasury said it would disclose only on Wednesday the amount raised. News service IFR reported that the transaction reached $1 billion. The reopening of the five-year sovereign bonds, meanwhile, totaled $750 million at a yield of 5.20%, the Treasury said. "The success of the operation reopens the market, serving as a benchmark for corporate issuances, and reflects investor confidence in Brazil's economic policy and credit," its statement said. "It reinforces the historic and strong integration between the Brazilian and U.S. markets in terms of public debt management," the Treasury added. The remarks come at a time when the South American country has faced 50% tariffs imposed by President Donald Trump on U.S. imports of several Brazilian goods. Tuesday's deal was led by Bank of America, Itau BBA and JPMorgan. Brazil had already tapped global markets this year with a $2.5 billion sovereign bond sale in February and a $2.75 billion issue in June. In July, Treasury Secretary Rogerio Ceron told Reuters the country had a "very favorable" risk spread and would "definitely" remain active in external markets in the second half. Ceron said that Brazil has benefited from global asset reallocation tied to U.S. policy shifts, with its large share of local-currency debt and high real interest rates drawing strong capital inflows. That has supported Brazil's real , which is up more than 10% against the U.S. dollar this year, spurred corporate bond sales, boosted foreign participation in public debt, and supported equity market gains. https://www.reuters.com/sustainability/boards-policy-regulation/brazil-taps-global-markets-third-debt-sale-2025-most-decade-2025-09-03/
2025-09-02 23:05
SAO PAULO, Sept 2 (Reuters) - Brazil's Petrobras (PETR3.SA) , opens new tab has been seeing strong demand from India and China for its products, CEO Magda Chambriard said on Tuesday, noting the two countries could have shielded the state-run oil company from the impacts of potential U.S. tariffs. The South American country could have "easily redirected exports" if U.S. President Donald Trump had imposed levies on imports of Brazilian oil, Chambriard said at an event hosted by Bloomberg in Sao Paulo. Sign up here. "India presents itself to Brazil and Petrobras as a buyer of any product we want to export," she said. https://www.reuters.com/sustainability/climate-energy/petrobras-ceo-touts-strong-demand-china-india-2025-09-02/
2025-09-02 22:55
PepsiCo gains after Elliott discloses $4 billion stake Kraft Heinz shares fall US jobs report due on Friday Indexes: Dow down 0.6%, S&P 500 down 0.7%, Nasdaq down 0.8% NEW YORK, Sept 2 (Reuters) - Wall Street started off September on a sharply lower note on Tuesday as investors weighed the future of President Donald Trump's tariffs after a federal appeals court ruled most of his sweeping tariffs illegal. A divided U.S. appeals court made the ruling on Sign up here. The appeals court ruling rattled investors after the long Labor Day holiday weekend, with September traditionally a weak month for equities. The Cboe Volatility Index (.VIX) , opens new tab - Wall Street's fear gauge - rose, but the major stock indexes ended off their worst levels of the day. With the ruling, "the question becomes, 'Has the Trump administration alienated our trading partners as well as given up the revenue from tariffs?' That's what's plaguing markets," said Oliver Pursche, senior vice president and adviser for Wealthspire Advisors in Westport, Connecticut. "By the same token, it's too early to call this the beginning of a great correction," he said. "At the end of the day, we all know that August-September tend to be more volatile and a little more challenging for investors before we get into the fourth quarter, which tends to be a pretty solid one." Data going back decades shows that, on average, September is the worst month for U.S. stocks, and some investors are bracing for another bumpy ride this year. In addition, investors are anxious to see the monthly U.S. payrolls report, due on Friday, and whether weak U.S. job growth continued for a fourth month in August. The Dow Jones Industrial Average (.DJI) , opens new tab fell 249.07 points, or 0.55%, to 45,295.81, the S&P 500 (.SPX) , opens new tab fell 44.72 points, or 0.69%, to 6,415.54 and the Nasdaq Composite (.IXIC) , opens new tab fell 175.92 points, or 0.82%, to 21,279.63. U.S. rate futures widely expect the Federal Reserve to lower interest rates this month, pricing in a 92% chance of a 25-basis-point cut at the end of its two-day policy meeting on September 17, according to CME Group's FedWatch. Real estate (.SPLRCR) , opens new tab fell 1.7% and had among the biggest S&P 500 sector declines on the day, with U.S. 30-year Treasury yields on Tuesday climbing to their highest levels since mid-July. Also, shares of Kraft Heinz (KHC.O) , opens new tab dropped 7% after the company said it will split into two companies, one focused on groceries and the other on sauces and spreads. On the flip side, shares of PepsiCo (PEP.O) , opens new tab gained 1.1% after Elliott Management disclosed a $4 billion stake in the beverages company, launching an activist campaign. On the Nasdaq, 1,555 stocks rose and 3,099 fell as declining issues outnumbered advancers by about a 1.99-to-1 ratio There were 105 new highs and 118 new lows. On the NYSE declining issues outnumbered advancing ones by a 2.4-to-1 ratio . There were 176 new highs and 53 new lows. Volume on U.S. exchanges was 16.41 billion shares, compared with the 16.26 billion average for the full session over the last 20 trading days. https://www.reuters.com/business/wall-street-ends-lower-ruling-trump-tariffs-raises-concerns-2025-09-02/
2025-09-02 22:21
Sept 2 (Reuters) - U.S. Treasury Secretary Scott Bessent will launch a series of interviews on Friday to select the next Federal Reserve chair, with the process extending into next week, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Reuters could not immediately verify the report. Sign up here. https://www.reuters.com/business/us-treasury-secretary-begin-fed-chair-interviews-friday-wsj-reports-2025-09-02/
2025-09-02 22:01
Sept 2 (Reuters) - The U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission on Tuesday announced a joint initiative to coordinate efforts on digital assets. The CFTC and the SEC will work together to issue guidance about the "listing of leveraged, margined, or financed spot retail commodity transactions on digital assets," the agencies said in a release. Sign up here. https://www.reuters.com/business/us-securities-commodities-regulators-announce-joint-crypto-initiative-2025-09-02/
2025-09-02 21:14
Fresh quake hits region, more destruction feared Sunday's quake kills over 1,400, injures over 3,100, say Taliban Rescue efforts in remote areas hindered by terrain and weather WHO highlights overwhelmed health system and delivery challenges Britain and India among few to offer early aid KABUL, Afghanistan, Sept 2 (Reuters) - An earthquake of magnitude 5.5 shook southeastern Afghanistan on Tuesday, sparking fears of further damage and destruction almost two days after a large quake in the same region killed more than 1,400 people and injured thousands more. Tuesday's quake occurred at a relatively shallow depth of 10 km (6 miles), the same level as the one that struck at midnight on Sunday with a magnitude of 6. That was one of Afghanistan's worst quakes in years, flattening houses in remote villages. Sign up here. The aftershock caused panic and halted rescue efforts as it sent rocks sliding down mountains, cutting off roads further and making it dangerous to dig through rubble, said Safiullah Noorzai, who works with Aseel, a humanitarian tech platform with networks around Afghanistan. Noorzai, whose organisation has sent teams to the mountainous region, said more people had been injured, likely pushing the death toll higher. The difficult terrain has badly hindered rescue workers' relief efforts in the isolated villages. A Reuters journalist who reached the area on Tuesday, before the latest tremors, saw every home had been damaged or destroyed, with locals still digging through the rubble for survivors. A lot of people were still trapped. Some partially damaged homes were destroyed by the second earthquake, according to residents. At least 1,411 people are known to have died so far, 3,124 have been injured and more than 5,400 houses destroyed, Taliban administration spokesperson Zabihullah Mujahid said. The U.N. coordinator in Afghanistan said the death toll was sure to rise further. Aid group Save the Children called on the international community to urgently release emergency funds. The earthquake has disrupted sources of clean water, raising fears of disease, and restricted access to food, it said. "This is now a race against time to save lives – to get injured people out of remote villages cut off by massive rock falls and to get clean water, food, and shelter in," said Samira Sayed Rahman, Programmes and Advocacy Director at Save the Children. Afghanistan is prone to deadly earthquakes, particularly in the Hindu Kush mountain range, where the Indian and Eurasian tectonic plates meet. The eastern provinces of Kunar and Nangarhar were worst hit in Sunday night's earthquake. On Tuesday, a line of ambulances was on the damaged mountain road trying to reach Kunar villages, as helicopters flew in, bringing aid supplies and taking the injured to hospitals, according to a Reuters reporter. Thousands of children were at risk, the United Nations Children's Fund warned on Tuesday. UNICEF said it was sending medicines, warm clothing, tents and tarpaulins for shelter, and hygiene items such as soap, detergent, towels, sanitary pads, and water buckets. Taliban soldiers were deployed in the area, providing help and security. The disaster has further stretched the war-torn nation's Taliban administration, already grappling with a sharp drop in foreign aid and deportations of hundreds of thousands of Afghans by neighbouring countries. "Damaged roads, ongoing aftershocks, and remote locations of many villages severely impede the delivery of aid," the World Health Organization said, adding that over 12,000 people had been affected by the quake. "The pre-earthquake fragility of the health system means local capacity is overwhelmed, creating total dependence on external actors," it said. Food and tents were desperately needed, said Aseel's Noorzai. With their houses in ruins, many people were living in the open amid a fear of aftershocks, Noorzai added. AID CUTS The rescue and relief work has struggled in the face of tight resources in the impoverished nation of 42 million people and limited global help in the aftermath of the tragedy. So far, Britain has allocated 1 million pounds ($1.35 million) to support the efforts of the U.N. and the International Red Cross. India delivered 1,000 tents and was moving 15 tonnes of food supplies to Kunar, with more relief to be sent on Tuesday. Other nations such as China, the United Arab Emirates, the European Union, Pakistan and Iran have pledged help but aid is yet to arrive. Afghanistan has been badly hit by U.S. President Donald Trump's decision in January to cut funding to its humanitarian arm USAID and reductions in other foreign aid programmes. Crises elsewhere in the world, along with donor frustration over the Taliban's policies toward women and curbs on aid workers have been a factor in funding cuts, according to diplomats and aid officials. ($1 = 0.7402 pounds) https://www.reuters.com/business/environment/new-quake-shakes-devastated-afghan-region-death-toll-exceeds-1400-2025-09-02/
