Leda Alvim

(Bloomberg) -- In Brazilian supermarkets, a beloved national snack — pao de queijo — is being sidelined by yogurt. Most Read from Bloomberg

Brazilian billionaire Alberto Safra’s ASA financial-services firm plans to hire 50 people in the US this year to serve rich American and Latin American clients.

O ASA, empresa de serviços financeiros do bilionário brasileiro Alberto Safra, planeja contratar 50 pessoas nos EUA este ano para atender clientes ricos americanos e latino-americanos.

Foreign investors pulled money out of Brazilian equities on Tuesday at the fastest pace in over five years as concerns over the presidential election make them increasingly wary of the outlook for the fiscal deficit and the economy.

Brazilian assets posted some of the biggest losses in the world this week amid growing angst over the October presidential election.

Brazil’s securities regulator CVM ruled that US-based asset manager Centaurus Capital LP must make a tender offer for shares of Oncoclinicas do Brasil Servicos Medicos SA, overturning the regulator’s technical staff and escalating a long-running dispute among some of the cancer-care provider’s biggest shareholders.

Investors are piling into bullish options tied to Brazilian stocks, getting ready for a potential rally ahead amid signs the upcoming presidential race will be tighter than expected.

Arminio Fraga, one of Brazil’s most-famous hedge-fund investors, spread the word earlier this month that he was turning his funds over to the country’s fourth-biggest bank. Brazil’s double-digit interest rates simply generate too high a return nowadays to lure enough clients to keep a fund like his open any longer, he conceded.

Azzas 2154 SA, one of Brazil’s largest apparel exporters, will split into two independent publicly traded companies as its main shareholders seek to end a months-long dispute over governance and strategy.

Investors see few reasons to be optimistic about Hapvida, the Brazilian health insurer and hospital operator plagued by rising costs, constant litigation and an escalating debt load.