Carla Simoes and Mario Sergio Lima – Bloomberg Business, 7/27/2015
Santos Port has always been known as Brazil’s gateway to the world. Now, it’s also a window into what went wrong in Latin America’s biggest economy.
Exports from Santos have tumbled as demand from China sags. Companies betting on a boon as massive offshore oil finds were developed are now scaling back after Petroleo Brasileiro SA said it will cut investments by a third. And real-estate prices are falling as entire buildings stand vacant.
Nowhere, perhaps, are Brazil’s unfulfilled promises as an almost superpower more apparent than Santos, Latin America’s busiest port. About an hour outside of Sao Paulo, Santos benefited from the dual boon of the commodities supercycle and the government spending spree it afforded. Now, it’s feeling the double blow of a corruption scandal at Petrobras and Brazil’s worst recession in a quarter century.
Raymond Colitt, Julia Leite and David Biller – Bloomberg, 8/14/2014
The death of Brazilian presidential candidate Eduardo Campos yesterday resets a contentious campaign less than two months before the election.
Campos died when his small plane crashed in Sao Paulo state following an aborted landing attempt because of bad weather. President Dilma Rousseff and candidate Aecio Neves said they are suspending their campaigns to attend his wake. Campos’s running mate, Marina Silva, said it’s time to mourn and didn’t comment on whether she would replace him.
The Ibovespa stock index and Brazil’s real swung between losses and gains yesterday as investors tried to assess what Campos’s death means for the October election. The volatility reflects the debate about who will gain support in the polls, with Nomura Securities International saying a Silva candidacy would hurt Rousseff and electoral researcher Instituto Analise pointing to Neves as the likely loser.
Filipe Pacheco, Julia Leite and Ney Hayashi – Bloomberg Businessweek, 8/13/2014
Brazilian stocks and the real whipsawed higher and lower after a plane used by opposition presidential candidate Eduardo Campos crashed in Sao Paulo state.
Campos’s campaign confirmed it couldn’t reach him after a small plane went down in the port city of Santos, while Globo News and Folha de S. Paulo reported that the candidate had died. Campos, who was polling in third place ahead of the October elections, was flying to an event in the city of Guaruja at the time, according to O Estado de S. Paulo newspaper.
Stocks and the real plunged initially before paring losses as investors sought to quickly analyze the impact the crash would have on Brazil’s presidential vote. The stock gauge had rallied 26 percent from this year’s low March 14 on speculation that President Dilma Rousseff would be defeated and the new government would reduce intervention in state-owned companies.
Jeff Fick – Forbes, 8/13/2014
Brazil’s presidential elections took a sharp turn Wednesday morning, when candidate Eduardo Campos was killed in an airplane crash in the coastal city of Santos, Brazilian Air Force officials confirmed.
Neighbors shot cellphone video of the area where the plane went down.
Campos was traveling to Sao Paulo, Brazil’s industrial and agricultural heartland, to make a campaign appearance when the Cessna Citatation Excel jet he was traveling went down in the city of Santos. Santos, home to one of the world’s busiest ports, is a city along Brazil’s southeast coast. The plane had left Rio de Janeiro earlier Wednesday morning. Seven people were aboard the plane when it went down, killing five passengers and two pilots.
Gustavo Bonato – Reuters, 8/13/2014
Brazilian presidential candidate Eduardo Campos was killed in a plane crash on Wednesday, throwing the October election into disarray and causing big swings in local financial markets.
Campos’ private jet crashed in bad weather as it prepared to land in the coastal city of Santos, just south of Sao Paulo, killing all seven people on board, the Sao Paulo state fire department said. Television images showed smoke billowing from the crash site in a residential area.
Campos, 49, was in third place in recent polls with the support of about 10 percent of voters. While he was not expected to win the Oct. 5 vote, he was perceived by some as the most market-friendly of the three main candidates and his death will set off an intense, if respectful, scramble for his supporters in a tightening election.
Dock workers at Brazil‘s key shipping port of Santos, the largest in South America, stopped a strike over port reform early on Wednesday but plan to walk off the job again on Thursday in support of a broader union protest.
Port authorities said Wednesday’s strike prevented the loading of some 13 container ships for a few hours, but mechanized bulk cargo shipments, such as soybeans and corn, were not affected.
The National Stevedores Association in Brasilia said workers at other ports had decided against a July 10 strike and would instead join other industrial unions planning a nationwide walkout on Thursday, July 11.
Stan Lehman – The Miami Herald, 02/12/2013
SAO PAULO — A fire on a Carnival float has killed four people and injured five in the Brazilian port city of Santos.
A fire department official says the float caught fire shortly after the Sangue Jovem samba school ended its parade at dawn on Tuesday. He spoke on condition of anonymity because he was not authorized to speak to the press.
He says three of the victims were pushing the float. A woman watching the parade was the fourth. The condition of the five injured was not immediately known.