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Brazil Senate passes austerity bill

Aug. 20, 2015 2:47 AM ETBZF, EWZ, BRF, BZQ, BRXX, UBR, BRAZ, BRAQ, BRAF, EWZS, DBBR, FBZ, BRZUBy: Yoel Minkoff, SA News Editor
  • Brazil's Senate has approved a bill to roll back corporate tax breaks, as President Dilma Rousseff's looks to reduce a gaping fiscal deficit and restore confidence in the face of record-low popularity ratings, a spreading corruption scandal and looming recession.
  • The measure will boost revenue by 10B reais ($2.9B) annually and aims to save Brazil's threatened investment grade credit rating.
  • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ

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