Far from Carnival street fests, glitzy Rio Ball for elite

A guest in a costume poses for the photo as she enjoys a traditional Carnival ball at the Copacabana Palace hotel in Rio de Janeiro, Brazil, Saturday, Feb. 25, 2017. In stark contrast to the hundreds of hard-charging street parties across Rio that are open to anyone, the “Baile do Copa” bills itself as a fairytale event where the country’s elite can see and be seen in a hotel known for both opulence and a lengthy tradition of welcoming world leaders and stars.

Brazil Airline Azul Files for U.S. Initial Public Offering

Azul SA, the Brazilian airline led by JetBlue Airways Corp. founder David Neeleman, filed for an initial public offering in the U.S., following at least two previous delays because of slumping Brazilian stocks. The Sao Paulo-based airline filed Monday for a $100 million IPO, a placeholder amount used to calculate fees that may change.

US equity firm makes strongest bid to buy Portuguese bank

Portugal’s central bank says an offer from U.S. private equity firm Lone Star is the most promising bid to buy Novo Banco , the so-called good bank salvaged by the Portuguese government from the collapse of major lender Banco Espirito Santo. The Bank of Portugal says it has invited the fund, based in Dallas, Texas, to “deepen negotiations” over the possible purchase, though it said rival bidders have expressed a willingness to improve their offers and would not be excluded.