Page 3 - Brazil

Netflix blames tax dispute in Brazil for rare quarterly earnings letdown

Netflix missed the earnings target set by stock market analysts during the video streamer's latest quarter, a letdown that the company blamed on a tax dispute in Brazil. The results announced Tuesday broke Netflix's six-quarter streak of posting a profit that eclipsed analysts' projections. The Los Gatos, California, cited an unexpected USD 619 million expense tied to the Brazilian tax dispute for the earnings shortfall while hailing its lineup of distinctive TV series and films for keeping its audience engaged and delivering a mix of subscriber fees and increased ad sales that helped it deliver revenue that matched analyst forecasts. Investors, though, were not placated by the explanation as Netflix's shares still fell by about 5 per cent in extended trading after the numbers came out. Analysts varied in their interpretation of the third-quarter report. Investing.com analyst Thomas Monteiro worries Netflix is using the Brazilian tax hit as a way to mask signs of a slowdown in ...

India, Brazil look to broaden PTA, eye $20 bn bilateral trade by 2030

India and Brazil plan to broaden their preferential trade agreement under the Mercosur framework, eyeing $20 billion in bilateral trade by 2030 and new digital cooperation

India proposes supplying Akash missile system to Brazil during talks

India is learnt to have pitched for supply of Akash missile system to Brazil as Defence Minister Rajnath Singh on Wednesday held wide ranging talks with Brazilian Vice President Geraldo Alckmin here. During the meeting, the two leaders "identified priority areas" for joint work, including exploring opportunities for co-development and co-production of defence equipment. Defence Minister of Brazil, Jos Mcio Monteiro Filho, was also present during the meeting, the defence ministry said in a statement. It is learnt that in the meeting, India has pitched for supply of Akash missile system to Brazil, people familiar with the matter said. India and Brazil share a strategic partnership. "The leaders reaffirmed their shared commitment to advance defence cooperation, focusing on military-to-military exchanges, including joint exercises and training visits," the statement said. They reviewed the progress of ongoing defence-related initiatives and "identified priority areas for joint work,

Modi government's packed diplomatic calendar signals intensified outreach

New Delhi hosts a flurry of high-level visits from Sri Lanka, Brazil, and others as India prepares for Putin, Albanese, and Macron's trips amid global trade and security shifts.

Alckmin meets Rajnath, to hold trade meeting with Piyush Goyal on Oct 16

He is also scheduled to meet External Affairs Minister S Jaishankar and Oil Minister Hardeep Puri. Alckmin is set to attend the India- Brazil Business Forum, the Ministry of External Affairs said

Trump's trade war unites India and Brazil in a hunt for new markets

Government officials and business executives from Brazil and India are converging this week in New Delhi, seeking to forge new relationships and triple the countries' $12 billion trade partnership

Trump holds call with Brazil's President, says both nations 'will do great'

Trump recounted his meeting with Silva at the United Nations General Assembly, saying that he was a good man

India, Brazil discuss trade, critical minerals ahead of Lula's visit

Ajit Doval and Celso Amorim co-chaired the 6th India-Brazil Strategic Dialogue, reviewing ties in defence, energy and critical minerals as Lula prepares to visit India

Rahul Gandhi begins South America visit; set to meet leaders, students

Leader of Opposition in Lok Sabha, Rahul Gandhi, has embarked on a visit to four South American countries, where he is expected to interact with political leaders, students, and businessmen. Congress' media and publicity department, in charge, Pawan Khera, informed this without disclosing how many days Gandhi will be out of the country. "Leader of the Opposition in Lok Sabha, Shri Rahul Gandhi, has embarked on a visit to South America. He is scheduled to engage with political leaders, university students, and members of the business community across four countries," Khera said in his post on X. According to the Congress, Gandhi will visit Brazil and Colombia, where he is expected to interact with university students. He will hold meetings with presidents and senior leaders across multiple countries, strengthening democratic and strategic ties, the party said. Gandhi will engage with business leaders to explore opportunities as India seeks to diversify trade and partnerships in the

US sanctions wife of Brazilian judge over Bolsonaro case, revokes visas

The US government has sanctioned the wife of the Brazilian Supreme Court justice who led the investigation into former President Jair Bolsonaro, who was sentenced this month to 27 years in prison for attempting a coup in the South American nation. The Trump administration also revoked the US visa of another Brazilian official, Solicitor-General Jorge Messias, who criticized the decision on his social media channels. The wife of Justice Alexandre de Moraes, Viviane Barci de Moraes, was sanctioned under the Global Magnitsky Act used by the United States against human rights abusers. Her husband was targeted by the same measure as he oversaw the case against Bolsonaro. This is the latest chapter in a unilateral wave of attacks from the Trump administration against Brazil, which includes sanctions against other authorities and tariffs of 50% on many of the country's exports to the U.S. Local media also reported that other judges who worked with de Moraes at the Supreme Court had also l

India, Brazil launch joint agritech programme to boost farm innovation

India and Brazil seek to strengthen their partnership in the agriculture sector with the launch of a programme that aims to promote technological innovation and exchanges of best practices. According to an official statement on Monday, Indian Council of Agricultural Research (ICAR) has launched a second edition of the BrazilIndia Cross-Incubation Programme in Agritech (Maitri 2.0) here. The event was graced by M L Jat, Secretary (DARE) and Director General (ICAR), and Kenneth Nobrega, Ambassador of Brazil to India, along with senior officials and representatives from leading Brazilian research and innovation institutions. The ICAR DG noted that the programme is a two-way learning platform for co-creation between Indian and Brazilian innovators. "Bringing together innovators, startups, and institutions from both countries, the programme will help build resilient food systems and empower farmers. Maitri 2.0 aims to strengthen incubator linkages, exchange best practices, promote ...

India, Brazil lead real-time A2A payments with UPI and Pix adoption

A BCG report says A2A payments exceed 50 per cent of all transactions in India and Brazil, powered by UPI and Pix, with AI agents set to further transform digital commerce

India, Brazil chartering path for future ties in next 10 yrs: Brazil envoy

At Maitri 2.0 Agri-Tech event, Brazil envoy called India, Brazil "agriculture powerhouses," stressing the initiative's focus on joint research and collaboration in farming and agri-innovation

Brazilians protest bill that may pardon Bolsonaro, allies convicted of coup

Brazilians held protests in all 26 states and the Federal District on Sunday against a possible pardon for former President Jair Bolsonaro and his allies, who were convicted of attempting a coup. Calls for demonstrations grew after the lower house on Tuesday passed a constitutional amendment that would make it harder to arrest or launch criminal proceedings against lawmakers. The measure now heads to the Senate. The following day the lower house voted to fast-track a bill backed by right-wing opposition lawmakers that could grant amnesty to Bolsonaro, his closest allies and hundreds of supporters convicted for their roles in the January 2023 uprising. Bolsonaro was sentenced to 27 years and three months in prison on Sept. 11 for attempting to stay in power after losing a 2022 reelection bid. He is the first former president convicted of trying to overturn an election in Latin America's largest economy. Bolsonaro denied any wrongdoing. Some of Brazil's most prominent artists helped

We'll talk trade, but Brazil's democracy is off limits: Lula to Trump

Pushing back against Trump's 50% tariffs, Lula said trade talks are welcome-but not at the cost of Brazil's sovereignty, justice system, or democratic values

Brazil braces for new US sanctions after Bolsonaro conviction angers Trump

Brazil braced Friday for possible new US sanctions linked to former President Jair Bolsonaro's conviction on coup charges, after the administration of President Donald Trump warned it would respond "accordingly." Trump said he was "very unhappy" with the conviction, and US Secretary of State Marco Rubio said on his X account that the US government would "respond accordingly to this witch hunt." Brazil's Foreign Ministry called Rubio's comments an inappropriate threat that would not intimidate the government, adding that the country's judiciary is independent and that Bolsonaro was granted due process. "Threats like the one made today by US Secretary of State Marco Rubio, in a statement that attacks Brazilian authority and ignores the facts and compelling evidence in the case files, will not intimidate our democracy," Brazil's foreign office said on X. Sen Rogrio Carvalho, the government leader in the Senate, told The Associated Press in a phone interview Friday that the administrat

Brazil's top court jails Bolsonaro for more than 27 years over coup attempt

A panel of Brazilian Supreme Court justices sentenced former president Jair Bolsonaro to 27 years and three months in prison Thursday after convicting him of attempting a coup to remain in office despite his 2022 electoral defeat. Bolsonaro, who has always denied any wrongdoing, is currently under house arrest in Brasilia. He can appeal the ruling. Four of the five justices reviewing the case in the panel found the far-right politician guilty on five counts, in a ruling that will deepen political divisions and likely prompt a backlash from the United States government. It makes Bolsonaro is the first former Brazilian president to be convicted of attempting a coup. US President Donald Trump said that he was very unhappy with the conviction. Speaking to reporters as he departed the White House, he said he always found Bolsonaro to be outstanding. The conviction, he added, is very bad for Brazil. Bolsonaro can appeal ruling The sentence doesn't mean he will immediately go to prison

Brazil SC judge breaks with two peers, votes to absolve Bolsonaro

A Brazilian Supreme Court justice voted Wednesday to acquit former president Jair Bolsonaro of all charges in his alleged coup trial, in the first dissenting vote since the final judicial proceeding began, giving some respite to the far-right leader and potential arguments to his defence team for an appeal after a final verdict. The 70-year-old ex-leader faces a five-member panel of justices who started voting Tuesday on accusations he attempted to illegally hang onto power after his 2022 electoral defeat to current President Luiz Inacio Lula da Silva. Two justices have already voted to convict him. Prosecutors charged Bolsonaro with five counts: attempting to stage a coup, armed criminal organization, attempted violent abolition of the democratic rule of law, damage characterised by violence and a serious threat against the state's assets and deterioration of listed heritage. Despite Wednesday's vote by Justice Luiz Fux, the ex-leader could still be found guilty in the coming days,

Bolsonaro backers rally before verdict as Lula asserts sovereignty

Tens of thousands of supporters of Brazil's former president Jair Bolsonaro took to the streets on Sunday, the country's Independence Day, to rally against the Supreme Court ahead of its verdict this week in their leader's alleged coup trial. On Saturday evening, President Luiz Inacio Lula da Silva said Brazil will not accept foreign influence in its domestic affairs, in yet another reference to persistent criticism and sanctions imposed on his country by his American counterpart Donald Trump. In recent years, Bolsonaro's allies have turned September 7 into an annual show of political force. Lula sought to turn the focus of this year's Independence Day to sovereignty. Crowds dressed in yellow and green once again gathered in Rio de Janeiro, Sao Paulo and the capital Brasilia to back Bolsonaro, who is under house arrest ahead of his verdict. Their favourite target was Supreme Court Justice Alexandre de Moraes, the rapporteur of the case. Bolsonaro is standing trial for allegedly ..

India, Brazil looking to strengthen oil ties amid high US tariffs: Report

Amid rising US tariffs on Russian oil, India and Brazil are exploring new opportunities to boost crude trade, with India seeking alternatives to Russian oil and Brazil eyeing new markets