Brazilian digital bank Inter & Co posted record profit and revenue figures in the second quarter, beating analyst estimates while total clients approached 28 million. Shares rallied. Revenue grew 33% year-on-year to 1.9 billion reais ($386.7 million) while net income was 64 million reais. Analysts surveyed by Bloomberg had expected 1.1 billion reais in sales and 32.2 million reais in profit. Total clients grew by 1.5 million in the quarter to nearly 27.8 million while raising the percentage...

Brazil’s only privately owned airport plans to double the number of hangars as demand for business jet travel booms. Catarina International Executive Airport, opened in 2019, is a 14-minute helicopter ride — or 35-minute drive — from Sao Paulo and currently has 12 hangars with plans to eventually expand to 25, Managing Director Ronie Guimaraes said in an interview. Owned and operated by luxury developer and mall operator JHSF Participacoes SA, Catarina handles domestic and international...

German Larrea Mota Velasco, the elusive billionaire who inherited and expanded a mining fortune, is suddenly Exhibit A for the difficulties of doing business in Mexico under an unpredictable president. Larrea, 69, was dealt a severe blow after the government seized a section of his freight railway last week, ultimately prompting him to scrap a bid to buy one of the country’s biggest banks from Citigroup Inc. His view was that the acquisition would just be too risky given President Andres...

Demand among Colombian citizens for offshore trust services has surged since the ascension of leftist President Gustavo Petro, who raised taxes on the wealthy as part of his drive to overhaul the economy, according to IQ-EQ’s Anabella Murillo. Murillo, a Miami-based managing director in the firm’s private-wealth division, said Colombians — more than any other Latin American contingent — have sought out her services that range from tax advice to governance and compliance. “One of their main...

Sheyla Resende is no stranger to adapting. Growing up in Brazil, she lived in 23 different cities as her father’s job building highways required frequent moves. A civil engineer by training, Resende started at real estate developer Gafisa SA in 2009 as a trainee and worked her way up, including stints at construction sites where she was often the only woman among 400 workers. Now, at age 37, she’s the first female chief executive officer in the Sao Paulo-based builder’s 70-year history. In...