Latest news with #SaoPaulo-based
Boston Globe
2 hours ago
- Health
- Boston Globe
‘I was terrified I was going to die.' Rape victims in Brazil struggle to access legal abortions
The Associated Press does not identify people without their permission if they say they have been sexually assaulted. In Brazil, abortion is legally restricted to cases of rape, life-threatening risks to the pregnant woman, or if the fetus has no functioning brain. Theoretically, when a pregnancy results from sexual violence, the victim's word should suffice for access to the procedure. 'The law doesn't require judicial authorization or anything like that,' explained Ivanilda Figueiredo, a professor of law at the State University of Rio de Janeiro. 'A woman seeking an abortion recounts the situation to a multi-disciplinary team at the healthcare clinic and, in theory, that should be enough.' Advertisement In practice, however, advocates, activists, and health experts say women encounter significant barriers to ending a pregnancy even under the limited conditions provided for by the law. This is due to factors including lack of facilities, disparities between clinic protocols, and even resistance from medical personnel. 'Healthcare professionals, citing religious or moral convictions, often refuse to provide legal abortions, even when working in clinics authorized to perform them,' said Carla de Castro Gomes, a sociologist who studies abortion and associate researcher at the Federal University of Rio de Janeiro. Advertisement Women in Brazil also face geographical barriers to legal abortions. Only 290 facilities in a mere 3.6 percent of municipalities around the country of approximately 213 million people provide the service, according to a 2021 study from scientific journal Reports in Public Health. In June 2022, four nonprofits filed a legal challenge with the Supreme Court, arguing that restrictions on abortion access violate women's constitutional rights. The case is currently under review. A 35-year-old cashier from a small city in the interior of Rio de Janeiro state also said she became pregnant as a result of a rape. But, unlike the woman in Brasilia, she chose to pursue an abortion through legal means, fearing the risks that come with a clandestine procedure. Although Brazil's Health Ministry mandates that, in the case of a pregnancy resulting from rape, healthcare professionals must present women with their rights and support them in their decision, the woman said a hospital committee refused to terminate the pregnancy. They claimed she was too far along, despite Brazilian law not stipulating a time limit for such procedures. She eventually found help through the Sao Paulo-based Women Alive Project, a nonprofit specializing in helping victims of sexual violence access legal abortions. The organization helped her locate a hospital in another state, an 18-hour drive, willing to carry out the procedure. Thanks to a fundraising campaign, the woman was able to travel and undergo the operation at 30 weeks of pregnancy in late April. Advertisement 'We are already victims of violence and are forced to suffer even more,' she said in a phone interview. 'It's a right guaranteed by law, but unfortunately still seen as taboo.' Brazil's abortion laws are among the most constrictive in Latin America, where several countries — including Mexico, Argentina, and Colombia — have enacted sweeping reforms to legalize or broadly decriminalize abortion. This legislative environment is exacerbated by a political landscape in which far-right politicians, supported by Catholic and Evangelical voters who make up a majority in the country, regularly seek to further restrict the limited provisions within the country's penal code. In 2020, the government of far-right former President Jair Bolsonaro issued an ordinance requiring doctors to report rape victims seeking abortions to the police. Current President Luiz Inácio Lula da Silva revoked the measure in his first month in office in 2023. But the measure left lasting effects. 'These changes end up generating a lot of legal uncertainty among health professionals, who fear prosecution for performing legal abortions,' Castro Gomes said. Last year, conservative lawmaker Sóstenes Cavalcante proposed a bill to equate the termination of a pregnancy after 22 weeks with homicide, sparking widespread protests by feminist groups across Brazil. The protests ultimately led to the proposal being shelved. But in November, a committee of the Chamber of Deputies approved a proposed constitutional amendment that would effectively outlaw all abortions by determining the 'inviolability of the right to life from conception.' The bill is currently on hold, awaiting the formation of a commission. Earlier this month, Rio Mayor Eduardo Paes, a Lula ally, came under fire after sanctioning a bill mandating anti-abortion messages on posters in municipal hospitals and other health establishments. Advertisement Advocates say access to abortion highlights significant disparities: women with financial means dodge legal restrictions by traveling abroad for the procedure, while children, poor women, and Black women face greater obstacles. According to the Brazilian Forum on Public Safety, 61.6 percent of the 83,988 rape victims in 2023 were under the age of 14. A statistical analysis that year by investigative outlet The Intercept estimated less than 4 percent of girls aged 10 to 14 who became pregnant as a result of rape accessed a legal abortion between 2015 and 2020. Feminist groups in Brazil are campaigning at a federal level for enhanced access to legal abortion services. Last year, 'A Child Is Not a Mother,' a campaign by feminist groups, successfully advocated for the National Council for the Rights of Children and Adolescents to adopt a resolution detailing how to handle cases of pregnant child rape victims. The body, jointly made up of government ministries and civil society organizations, approved the resolution by a slim majority in December.
Yahoo
4 days ago
- Business
- Yahoo
Brazil's new Rio stock exchange to start operations later than expected
RIO DE JANEIRO (Reuters) -A Rio de Janeiro-based stock exchange is expected to begin operations by the end of April 2026, the executive leading the project said on Monday, a delay from initial projections. The new bourse, called Base Exchange and controlled by Abu Dhabi's Mubadala, could shift Brazil's financial landscape, as Sao Paulo-based stock exchange B3 currently reigns in the Brazilian market. Claudio Pracownik, CEO at Rio de Janeiro's Base Exchange, told Reuters the revised timeline reflects regulatory processes. Previously, operations were expected to start this year. Tests for the new exchange have been conducted at the Brazilian securities watchdog CVM, while simulations at the central bank are expected to take place by August, according to Pracownik, who expects to receive the necessary regulatory authorizations by the end of the year. Base hopes to compete with B3 by using different technology and operating at lower cost, he said. "We are proposing to do better, faster and cheaper." B3 did not immediately respond to a request for comment. Pracownik said he has already spoken with representatives of the main companies whose shares trade on B3, and that they showed interest in also trading their shares on the Rio de Janeiro exchange. "These companies have nothing to lose. Petrobras, Vale, Banco do Brasil and others expressed interest in trading," said Pracownik. Banco do Brasil and Petrobras did not immediately respond to requests for comment. Vale declined to comment. The new exchange, which would initially trade assets such as equities, intends to launch new products every eight to nine months, including derivatives and options, to be able to compete with B3, Pracownik added.
Yahoo
10-06-2025
- Business
- Yahoo
UnitedHealth Group received multiple bids for Latin American operations
-- UnitedHealth Group (NYSE:UNH) is considering several offers for its Latin American operations, according to a Reuters report on Monday. The move comes as the largest U.S. health insurer faces challenges that include the departure of its CEO and an alleged criminal accounting investigation. The insurer has been attempting to leave Latin America since 2022, with the sale of its Banmedica subsidiary becoming more urgent in recent months due to increasing pressures on multiple fronts, the report said. So far, UnitedHealth has reportedly received four preliminary bids for Banmedica, which operates in Colombia and Chile, with an estimated value of about $1 billion. In May, UnitedHealth's shares dropped 25.5%, and the year-to-date decline stands at 40%. The company withdrew from Brazil in 2023 and from Peru in March 2025. It aims to secure around $1 billion for Banmedica's operations in Colombia and Chile. The company anticipates setting a deadline for final proposals as early as July. The bids reportedly include offers from Washington, D.C.-based private equity firm Acon Investments, Sao Paulo-based private equity firm Patria Investments, Texas non-profit health organization Christus Health, and Lima-based healthcare and insurance provider Auna. The report mentioned that Auna is currently in discussions with a financial partner. Related articles UnitedHealth Group received multiple bids for Latin American operations Tesla shares slip after double downgrade amid Trump feud fallout What are the three big things in markets now? RBC weighs in
Time of India
09-06-2025
- Business
- Time of India
UnitedHealth eyes $1 billion deal to exit Latin America as insurer refocuses on US, sources say
New York: UnitedHealth Group is weighing multiple bids for its Latin American operations, according to two people with direct knowledge of the matter, as the insurer buckles down after a series of unprecedented missteps that include the ouster of its CEO and a reported criminal accounting probe. The largest U.S. health insurer has been trying to exit Latin America since 2022, but the sale of Banmedica has taken on increasing urgency in recent months as the insurer took hits on multiple fronts, according to one of the people. New CEO Steve Hemsley told shareholders last week that he was determined to earn back their trust after an earnings miss and a Wall Street Journal report that the company was under criminal investigation for alleged Medicare fraud. UnitedHealth has said it was not notified by the Department of Justice and that it stands by the integrity of its operations. Hemsley replaced Andrew Witty just a few months after the murder of the executive Brian Thompson, the CEO of UnitedHealthcare, in New York in December while on his way to a meeting with investors. Witty had been UnitedHealth Group CEO since 2021. The company has four non-binding bids for its Banmedica subsidiary, which operates in Colombia and Chile, for about $1 billion, according to both people, who asked not to be identified because the talks are private. UnitedHealth's shares tumbled 25.5% in May alone and year-to-date are down 40%. UnitedHealth left Brazil in 2023 and Peru in March. It's aiming to get around $1 billion for Banmedica's operations in Colombia and Chile, the people said. The two people said the company expects to set a deadline for binding proposals as soon as July. UnitedHealth received bids from Washington, D.C.-based private equity firm Acon Investments; Sao Paulo-based private equity firm Patria Investments; Texas non-profit health firm Christus Health; and Lima-based healthcare and insurance provider Auna, the people said. Auna is in talks with a financial partner, one of the sources added. Banmedica's annual earnings before income taxes, depreciation and amortization, or EBITDA, are more than $200 million a year. Patria, UnitedHealth Group and Christus Health declined to comment. Acon and Auna did not respond to requests for comment. FAILED EXPANSION PLANS UnitedHealth bought Banmedica in 2018, with CEO David Wichmann saying he was "establishing a foundation for growth in South America for the next decades." At the time, UnitedHealth paid around 12 times Banmedica's EBITDA, according to one of the people. Three years later, the insurer decided to leave Latin America as it grappled with losses in its largest operation in the region, Brazil's Amil, which had been acquired a decade earlier. It divested from its Brazilian operations in late 2023. Banmedica is currently profitable, but is considered too small by UnitedHealth. It serves over 2.1 million consumers through its health insurance programs and has around 4 million patient visits annually across its network of 13 hospitals and 143 medical centers. UnitedHealth booked an $8.3 billion loss last year related to the sale of its South American operations - $7.1 billion stemming from the Brazil exit and $1.2 billion from Banmedica. "These losses relate to our strategic exit of South American markets and include significant losses related to foreign currency translation effects," the company said in a February filing. Brazilian investment bank BTG Pactual is advising UnitedHealth on the sale.
Yahoo
09-06-2025
- Business
- Yahoo
Exclusive-UnitedHealth eyes $1 billion deal to exit Latin America as insurer refocuses on US, sources say
By Tatiana Bautzer and Sabrina Valle NEW YORK (Reuters) -UnitedHealth Group is weighing multiple bids for its Latin American operations, according to two people with direct knowledge of the matter, as the insurer buckles down after a series of unprecedented missteps that include the ouster of its CEO and a reported criminal accounting probe. The largest U.S. health insurer has been trying to exit Latin America since 2022, but the sale of Banmedica has taken on increasing urgency in recent months as the insurer took hits on multiple fronts, according to one of the people. New CEO Steve Hemsley told shareholders last week that he was determined to earn back their trust after an earnings miss and a Wall Street Journal report that the company was under criminal investigation for alleged Medicare fraud. UnitedHealth has said it was not notified by the Department of Justice and that it stands by the integrity of its operations. Hemsley replaced Andrew Witty as CEO, who had been in the post for only a matter of months following the murder of his predecessor, Brian Thompson, in New York in December while on his way to a meeting with investors. The company has four non-binding bids for its Banmedica subsidiary, which operates in Colombia and Chile, for about $1 billion, according to both people, who asked not to be identified because the talks are private. UnitedHealth's shares tumbled 25.5% in May alone and year-to-date are down 40%. UnitedHealth left Brazil in 2023 and Peru in March. It's aiming to get around $1 billion for Banmedica's operations in Colombia and Chile, the people said. The two people said the company expects to set a deadline for binding proposals as soon as July. UnitedHealth received bids from Washington, D.C.-based private equity firm Acon Investments; Sao Paulo-based private equity firm Patria Investments; Texas non-profit health firm Christus Health; and Lima-based healthcare and insurance provider Auna, the people said. Auna is in talks with a financial partner, one of the sources added. Banmedica's annual earnings before income taxes, depreciation and amortization, or EBITDA, is more than $200 million a year. Patria and Christus Health declined to comment. UnitedHealth, Acon and Auna did not respond to requests for comment. FAILED EXPANSION PLANS UnitedHealth bought Banmedica in 2018, with CEO David Scott saying he was "establishing a foundation for growth in South America for the next decades." At the time, UnitedHealth paid around 12 times Banmedica's EBITDA, according to one of the people. Three years later, the insurer decided to leave Latin America as it grappled with losses in its largest operation in the region, Brazil's Amil, which had been acquired a decade earlier. It divested from its Brazilian operations in late 2023. Banmedica is currently profitable, but is considered too small by UnitedHealth. It serves over 2.1 million consumers through its health insurance programs and has around 4 million patient visits annually across its network of 13 hospitals and 143 medical centers. UnitedHealth booked an $8.3 billion loss last year related to the sale of its South American operations - $7.1 billion stemming from the Brazil exit and $1.2 billion from Banmedica. "These losses relate to our strategic exit of South American markets and include significant losses related to foreign currency translation effects," the company said in a February filing. Brazilian investment bank BTG Pactual is advising UnitedHealth on the sale.
