Brazil's Economy Shows Mixed Signals as Petrobras Profits Double

Brazil's state oil company Petrobras reported doubled profits and announced R$17.4 billion in dividends, while the central bank cut its benchmark interest rate for the fourth consecutive time. Ride-hailing company Didi partnered with Brazil's Movida to accelerate the green mobility transition. Meanwhile, a megaproject could extend Brazil's oil boom into the 2030s, and Buzzi reported rising cement volumes driven by Brazilian strength despite weaker European performance. Scrap metal shortages in Brazil were also reported amid sales to China.