On Thursday, Shares of Banco Bradesco SA (ADR) (NYSE:BBD), gain 1.89% to $6.20, after Brazil’s central bank unanimously voted to halt its aggressive rate-hiking cycle.
With its economy facing a recession that began in the second quarter, Brazil’s central bank declared yesterday it would halt a series of interest rate hikes that left the interest rate at a nine-year high of 14.25%, Reuters reports.
A steady interest rate will provide relief to the shrinking economy while raising concerns about high inflation, according to Reuters.
Brazil’s economy has suffered from a global decline in commodity prices resulting from an economic downturn in China, Brazil’s top trading partner. The real has fallen 29% this year, Bloomberg stated.
Banco Bradesco S.A. provides banking and financial products and services to individuals, companies, and corporations and institutions. The company operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. It accepts various deposit products, such as demand deposits, time deposits, checking accounts, savings accounts, interbank deposits from financial institutions, and accounts for salary purposes.
Shares of Office Depot Inc (NASDAQ:ODP), declined -4.06% to $7.32, during its last trading session.
Office Depot, Inc. (ODP), a leading global provider of office products, services, and solutions and parent company of Office Depot and OfficeMax, declared a Labor Day sale at Office Depot and OfficeMax stores from Aug. 30 through Sept. 12 and Clearance Event deals of up to 65 percent off the regular price on tech, supplies, furniture and more1 from September 6 through September 26.
Office Depot, Inc., together with its auxiliaries, supplies office products and services. The company’s North American Retail division sells an assortment of merchandise, counting office supplies, technology products and solutions, business machines and related supplies, facilities products, and office furniture under various brands through its chain of office supply stores.
Finally, TransCanada Corporation (USA)(NYSE:TRP), ended its last trade with 1.57% gain, and closed at $33.62.
TransCanada Corporation, declared it has reached a contract with Gaz Metro Limited Partnership (GMi), Enbridge Gas Distribution Inc. and Union Gas Limited (Local Gas Distribution Companies or the “LDCs”) that resolves the LDCs’ issues with Energy East and the Eastern Mainline Project.
The agreement ensures that Energy East and the Eastern Mainline Project will provide gas consumers in Eastern Canada with sufficient natural gas transmission capacity and reduced natural gas transmission costs.
“We have heard the LDCs’ concerns and worked with them to address issues in a way that best met our collective objectives,” said Russ Girling, TransCanada’s President and Chief Executive Officer. “Most importantly, this agreement will benefit consumers with the safe, efficient and more affordable delivery of North American produced oil and natural gas to fuel their everyday lives.
“It has always been our intent to ensure our customers in Québec and Ontario would receive the gas they needed and we have done that through this agreement,” added Girling. “We have also maintained that re-purposing a portion of the Canadian Mainline for Energy East would make the system more efficient and reduce transportation costs to our customers. We are happy to honour our commitments.”
TransCanada Corporation operates as an energy infrastructure company in North America. The company operates in three segments: Natural Gas Pipelines, Liquids Pipelines, and Energy. The Natural Gas Pipelines segment owns and operates natural gas pipelines and regulated natural gas storage facilities. This segment transports natural gas to local distribution companies, power generation facilities, and other businesses.
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