Morgan Stanley dragged into Brazil bank fight: report

Brazilian authorities want investment banking giant Morgan Stanley to return about 113 million reais associated with a stock sale by shareholders of troubled lender Banco Cruzeiro do Sul, which was seized ...

Brazil’s central bank seized mid-sized lender Banco Cruzeiro do Sul and placed it under the administration of banking insurance deposit fund FGC for 180 days after uncovering a series of irregularities

SAO PAULO (Reuters) - Deutsche Bank AG agreed on Monday to pay $20 million to settle charges in Brazil that Europe's largest investment bank by revenue helped manage funds embezzled by former city of São Paulo officials in the 1990s, a prosecutor said on Monday.

SAO PAULO (Reuters) - For Chinese investors, Brazil is no longer the promised land. After making a big push into the South American giant in search of raw materials such as iron ore, as well as a promising market for their consumer goods, Chinese executives have grown frustrated with stagnant economic growth, heavy costs and what they see as a political and popular backlash against their presence.

When last we checked in on BTG Pactual, “people were afraid.” Why? Because the once proud investment bank that billionaire Andre Esteves boasted would be “better than Goldman” is scrambling to raise cash after Esteves’ arrest prompted investors to pull nearly half of their money from the bank’s fixed income funds and triggered a harrowing decline in the company’s equity and debt. 

Banco Cruzeiro do Sul would be the third small or midsize Brazilian bank to fail in two years. Most customer deposits will be covered by the country's deposit-insurance program.

Banco Cruzeiro do Sul would be the third small or midsize Brazilian bank to fail in two years. Most customer deposits will be covered by the country's deposit-insurance program.

Thomson Reuters