Americanas crisis worsens; minimum wage readjustment returns to the debate

The outcome of the Americanas crisis seems to be a long way off, as more pieces of this mismatched puzzle seem to emerge from all sides, every day.

Banks are at the forefront of this fight, trying to overturn the injunction that protects the giant retailer from creditors for 30 days. BTG Pactual was the first to take legal action and had its request denied, while other institutions, exposed to the risk of Americanas, wonder what the size of this bill will be, after all, even more so when considering the possibility of judicial recovery.

Last Monday (16), the risk rating agency S&P Global downgraded Amerianas’ rating to “D”, from “Default”, and others, such as Fitch Ratings and Moody’s, should also follow the same path.

In the face of the day’s turmoil, the retailer’s shares plummeted 38% on Monday, quoted at R$1.94. In the trading session prior to the announcement about the fiscal problems, last Wednesday (11), Americanas shares were worth R$12.

On the political side, this Tuesday’s (17th) episode of CNN Money still focuses on the battle to increase the minimum wage, which once again gained space with the Minister of Finance, Fernando Haddad (PT), in Switzerland for the Forum World Economic.

The trade union centrals revived the minimum increase to R$ 1,342, which they have been asking for since last year, while the political wing of the government wants to increase at least R$ 1,320. The fiscal cost of this increase ranges from R$ 7 billion to R$ 17 billion, proving a contradiction in the country’s social programs: the value is low for those who receive it and high for those who pay.

Presented by Thais Heredia, the CNN Money it presents a balance of the news subjects that influence markets, finances and the direction of society and the dynamics of power in Brazil and in the world.

*Posted by Tamara Nassif