Bloomberg Brazilian assets tumbled on the first session of 2023 as traders digested plans by President Luiz Inacio Lula da Silva to use state-owned companies to drive economic growth. Petrobras slumped as much as 6.9% in Sao Paulo, the main drag on the benchmark Ibovespa index, which fell 3.1% as of 11:47 am. Lender Banco do Brasil SA dropped as ...

  Bloomberg Scion Asset Management founder Michael Burry said while inflation has peaked, it is likely to pick up again in response to government stimulus. “The US in recession by any definition,” Burry, the investor made famous by Christian Bale in the 2015 movie The Big Short, said on Twitter. “Fed will cut and government will stimulate. And we will ...

Bloomberg Germany vowed to crack down on people responsible for violence around the weekend’s New Year celebrations, in which dozens of police, paramedics and firefighters were injured. “The government, and of course the chancellor as well, condemns these at times massive attacks in the strongest possible terms,” Christiane Hoffmann, a spokeswoman for Chancellor Olaf Scholz, said on Monday at the ...