In a TV Globo interview on October 16, Flávio Bolsonaro, the conservative presidential candidate, said he would cut at least 10 of the government's 39 ministries if elected. He also pledged to keep raising the minimum wage above inflation, not to unlink pensions from it, and not to reverse the end of the 6×1 work schedule. The interview did not specify which ministries would go or how much the cuts would save. Ahead of the October 25 runoff against Lula, Polymarket gave Flávio a 77.2% chance of winning and Lula 23.5%, though the article stresses these are bets, not polls.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on riotimesonline.com ↗
Keywords
Flávio BolsonaroBrazilbudgetminimum wage
Open a keyword to see other news on the same topic.
Related news
- Brazil Flavio Bolsonaro pledges fiscal adjustment , rejects cuts to social spending
- Pay rises 2 million but essential costs rise... 3 million
At a National Assembly group session on October 18, delegate Châu Quỳnh Dao (An Giang) said pay rises of about 1.5-2 million VND would be outweighed by 2-3 million VND in added essential costs. She cited food costs at traditional markets up 10-15%, boarding rent in industrial areas up 12-18%, and health and education services up about 7.5%. She urged the government to publish a cost-of-living index for low-income groups and to delay public service price increases until six months after a minimum wage rise. Delegate Hoàng Quốc Khánh (Lai Châu) welcomed the increase in commune civil servants' public service allowance from 25% to 55%, but asked for further review and support for staff at commune comprehensive service centers, who do not receive this allowance.
- Video - CEO Clips: Altamira Gold: Unlocking a Growing Porphyry Gold District in Brazil
Altamira Gold Corp. (TSXV: ALTA) is exploring and developing gold projects in Brazil's under-explored Alta Floresta Gold Belt. Its flagship Cajueiro Gold District hosts more than 2 million ounces of gold across two resource areas, Maria Bonita and Cajueiro Central. The company recently discovered Maria Bonita West, a second porphyry gold system, backed by promising drilling and trenching results. These results point to the potential to expand the known mineralized footprint.
- Brazil Court Votes 7 to 0 for Meta Order
Brazil's Superior Electoral Court voted 7-0 on Friday 16 October to keep in force the order issued by Minister Marco Aurélio Bellizze against Meta until the 25 October runoff. The order bars Meta from reducing reach, dropping content from recommendations or restricting search for either Lula's or Flávio Bolsonaro's political content. Lula's coalition filed the complaint on 9 October, saying Meta failed to deliver its posts and that its Meta AI assistant refused images of Lula while producing material for Flávio Bolsonaro. Meta says it takes no side, calls favouritism claims false, and attributes the problems to technical incidents and an AI safeguard gap that has since been fixed. Non-compliance carries a fine of R$500,000 (about US$98,000) a day, and Meta must restore Lula's undelivered paid boosts by Wednesday 21 October.
- Latin America Pulse : Brazil Runoff , Mexico US Flights
The October 17, 2026 Latin America briefing centres on Brazil, where Flávio Bolsonaro pledges a fiscal adjustment of 1.5% to 2% of GDP funded by selling public property, securitising debts and fighting corruption, while protecting the minimum wage, pension floors and health and education spending. In Mexico, the US lifted restrictions on Mexican airlines at AIFA and AICM, opening more routes north, while the Health Ministry denied reports of cockroaches and spoiled food at the National Institute of Neurology. Chilean President José Antonio Kast made a historic visit to Bolivia, the first by a Chilean president to La Paz since 1955, and the two countries signed accords on trade, mining and connectivity, though Bolivia restated its maritime demand. The brief also covers Argentina, Colombia and Cuba, where another power plant fire pushed the informal dollar rate to a record.
Related markets
Latest news
- Winning over Vingroup and Sun Group with concrete and special materials: Vietnamese company's profit up 136%, chairman speaks out
Song Da Cao Cuong (SCL) reported Q3/2026 profit of VND 38 billion, up 136%, on net revenue of over VND 263 billion (up nearly 98%), while gross profit margin rose from about 36% to 41%. For the first nine months, revenue reached nearly VND 666 billion (up 81%) and after-tax profit nearly VND 94 billion, already exceeding more than 110% of its full-year profit target. Chairman Kieu Van Mat attributed the results to technology upgrades, production line optimization and capacity expansion, with several new plants expected to start operations by November 2026. The company said it spent more than two years testing its products before Vingroup accepted them; Vingroup's share of its business has fallen to about 25% as customers expanded to around 10 major groups and exports began to Laos, Cambodia and the Philippines. Over the past two years, the company has invested about VND 1,000 billion in factories and technology.
- Coteccons Chairman Bolat Duisenov reveals new direction: expanding home construction for individual customers
At the annual general meeting on October 20, Coteccons (HoSE: CTD) set fiscal 2027 targets of VND 42,000 billion in revenue and VND 1,050 billion in after-tax profit, and said it is considering expanding into residential construction for individual customers (B2C). In fiscal 2026, net revenue reached VND 34,340 billion (up 38%, 115% of plan) and after-tax profit VND 788 billion (up 73%); new contract wins totaled VND 60,307 billion and backlog was about VND 70,000 billion. In the first quarter of the new fiscal year, the company booked revenue of VND 11,270 billion and profit of VND 306 billion, but new contract value of VND 14,519 billion was lower than a year earlier; the company said it is tightening criteria for selecting clients and projects. Coteccons is also working with Microsoft, is expected to become a strategic partner of Workday, and targets raising its ROE from 10% to 15-18% by 2030.
- UPS Yields 6.7% After Firing Amazon. Here's Whether the Dividend Survives 2027.
UPS shares yield 6.7% as of October 16. The company has moved away from high-volume, low-margin Amazon deliveries and froze its dividend earlier this year, ending a 16-year streak of increases. The article says the payout will likely remain frozen through 2026 and 2027, citing competition from 10- and 30-year Treasury yields above 5% and other industrial dividend payers, but calls the dividend's safety questionable: UPS generated $5.47 billion in free cash flow in 2025, with $5.4 billion going to dividends, and free cash flow is projected to fall to $5.05 billion in 2026 and $5.01 billion in 2027, with the dividend absorbing about 98% of 2026 free cash flow. Rising competition and high fuel prices add pressure, and the article suggests investors may find more safety in the industrial sector.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading on Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices stayed high. Japan's Nikkei 225 slipped 0.6% to 64,512.35 in early trading, South Korea's Kospi dropped 2.8%, and Australia's S&P/ASX 200 lost 0.8%. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq gained 1.1%, helped by Nvidia's 1.4% gain, while most stocks outside AI and tech fell and the Dow slipped 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose to $103.50 a barrel and Brent to $109.47, as uncertainty about when the energy industry will return to normal after the war with Iran means oil is unlikely to ease soon.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices remained high. Japan's Nikkei 225 slipped 0.6% to 64,512.35, Australia's S&P/ASX 200 lost 0.8% to 8,772.10, and South Korea's Kospi dropped 2.8% to 5,605.31. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq rallied 1.1%, helped by Nvidia, while the Dow fell 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose 0.15% to $103.50 a barrel as uncertainty over the war with Iran kept oil prices elevated.
- What Could X-Energy (XE) Gain From Its 960MW Indiana Nuclear Project?
X-Energy (NasdaqGS:XE), American Electric Power and Amazon agreed to assess a 960 MW advanced nuclear project in Indiana using Xe-100 reactors, on a former coal plant site. Under the joint development agreement, Amazon would provide development funding and commit to a long-term power purchase. The article says the deal offers commercial validation for X-Energy's reactor platform rather than immediate financial relief, as the company, with a $4.3b market cap, reported $150.28 million in revenue, a $448.87 million loss, and a 20.2x price-to-sales ratio. The next key milestone is whether the study reaches a final investment decision for the Sullivan County site.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.