Brazil's Lula says government to propose a bill to cut working hours without a salary reduction, to be proposed this week; would nationalise refineries if it "were up to me"
Lula's proposal to cut working hours without reducing salaries could signal an attempt to boost employment and enhance workers' rights, which may have various implications on economic productivity and labor dynamics in Brazil.
White House Press Secretary Leavitt says that Lebanon is not part of the ceasefire agreement with Iran, Axios' Ravid reports
US White House pushed Pakistan to broker the Iran ceasefire, believing it being delivered via Pakistan would increase the odds of acceptance; Trump has sought a ceasefire amid oil price concerns since at least March 21st, FT reports citing source
Brazil's Lula says government to propose a bill to cut working hours without a salary reduction, to be proposed this week; would nationalise refineries if it "were up to me"
Brazil's Costa says Shell production reached a record 500k BPD in Brazil in March
Oil tankers passing through the Strait of Hormuz have been stopped by the IRGC after Israel's ceasefire breach, Fars News Agency reports
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His mention of nationalizing refineries indicates a push for increased state control over critical resources, which could escalate tensions in the energy sector and impact market perceptions of investment risks and regulatory environments in emerging markets. Traders should watch related assets closely, particularly those linked to Brazilian equities and the energy sector.
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