Reuters ahead on Banco do Brasil CEO firing

Reuters was first to confirm from a government source on April 8 that Brazil’s President Luiz Inacio Lula da Silva had decided to fire the CEO of Banco do Brasil and bring in someone else who would lower interest rates more aggressively. Banco do Brasil`s shares plunged as much as 9 percent on the news. Bloomberg took 19 minutes to match the story, and Dow Jones waited until an official announcement was made. One local newspaper had reported in that morning’s edition that there was talk the government might fire him but Reuters was the first news organization to confirm he was out.