Evening results from Brazil will play a leading role in news coverage as the vote ends months of bitter campaigning. Deforestation in the Amazon will be a particularly relevant topic as COP27 kicks off in Egypt this weekend.
With veteran Luiz Inacio Lula da Silva slipping two points from the 50 percent needed to be elected outright in early October, Sunday’s vote will reflect how deeply entrenched a rural “bolsonarismo” is at the heart of the booming and environmentally disastrous goods trade. .
The interior of Brazil was subject to significant permitting by the agribusiness of cattle, soybeans and corn during Jair Bolsonaro’s first term in office. This reflected a decrease in deforestation rates between 2003 and 2015.
Opposition to state intervention bolstered support for Bolsonaro in this election campaign, although he nevertheless sought to secure support poorer voters With a 50 per cent increase in welfare payments.
The stakes are high for indigenous communities who have suffered reprisals at the hands of illegal loggers, while they are ignored by lawmakers who seek to allow raw materials to be extracted in the reserves without their consent.
On Tuesday, Benjamin Netanyahu will be eager to stage a coup in Israel’s fifth election in less than four years. Leading a right-wing bloc, he seeks to overcome a small ballot deficit to gain a majority in the Knesset and return as the country’s prime minister.
In the United States, looming midterms mean that past and current presidents are launching campaigns in support of candidates. The final 72 hours of the campaign will see President Joe Biden and former Presidents Barack Obama and Donald Trump appear in Pennsylvania, while Trump will also hold a rally in Florida to close out the weekend.
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Brazilian gas company Petrobras is due to publish its third-quarter results on Thursday. The company suffered billions of dollars in corruption when it was last left in Brazil.
Bolsonaro previously spoke to privatize Petrobras, though Lula’s statement called for its return as an “integrated energy company” with its party ambitious to play a leading role in the country’s clean energy transition.
Shares in the company fell last week after polls indicated Lula would beat Bolsonaro in Sunday’s runoff. She was among many who lost on the ballot release, although she also stated that oil production for the third quarter was down 6.8 percent compared to the same period last year.
economic data
On Wednesday, the US Federal Reserve will announce its interest rate decision. Policymakers fear that strong wage growth has kept inflation high, although officials have suggested that the central bank should start preparing for a slowdown in interest rate hikes.
Data published by the US Bureau of Labor Statistics and the US Department of Commerce on Friday showed that wages for civilian workers during the third quarter increased by 1.2 percent, while personal consumption rose by 0.5 percent.
The Bank of England is expected to raise interest rates by 75 basis points on Thursday to 3 per cent. Prices have held homeowners severely, with their pervasiveness in the rental market.
In a survey published on Friday, the UK’s Office for National Statistics found that half of British respondents with mortgages said they were concerned about a change in interest rates. Two out of three people were also spending less on basics and using less gas and electricity.
The financial statement planned for Monday in the UK has been replaced by the autumn statement that Chancellor Jeremy Hunt will deliver on November 17.
Read the full calendar for the next week over here.
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