Yikes on economy.

Brazil Weekly

ECONOMY

Brazil’s jobless rate climbed to 5.7 percent in February but still marked a historic low for the month, the government’s statistics agency IBGE said (Reuters).

Employment and production statistics indicate a significant slump in Brazil’s industry sector (which accounts for 26.9 percent of the GDP) in recent months. Economists are pointing to the dramatic slowdown in the Brazilian economy, which has caused industry to stall and jobs in the sector to dry up (The Rio Times).

BUSINESS

France’s Casino said it will exercise its right to become the sole controlling shareholder of Pao de Acucar, a move set to reduce the influence of the hard-charging chairman at Brazil’s biggest retailer after an ownership struggle last year (Reuters).

Brazil’s JBS, the world’s biggest beef producer, plans to invest between 900 million reais ($492.66 million) and 1 billion reais in its operations 2012, down from…

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