Brazilian President Michel Temer resisted calls to resign on Thursday after allegations that he condoned the bribery of a potential witness in the massive "Car Wash" graft investigation, news that sent markets tumbling and raised doubts that Congress would pass his austerity measures. Temer strongly denied the allegations and told allied lawmakers in a morning... Continue Reading →

Brazil's Supreme Court has approved an investigation of President Michel Temer after he was purportedly taped agreeing to bribe a powerful witness in a sprawling anti-graft investigation, Globo TV reported on Thursday without citing a source. Temer has denied the allegation that he condoned paying a bribe and is expected to make a public statement... Continue Reading →

By taking their father’s slaughterhouse in the Brazilian countryside and building the world’s largest meat producer, Wesley and Joesley Batista earned reputations as consummate dealmakers. Their latest bargain, which may be their boldest yet, has dragged the country and its president into a crisis. The brothers, who control and run meat giant JBS SA, are... Continue Reading →

House of Cards cannot compete with this live drama.... Brazilian President Michel Temer gave his blessing to an attempt to pay a potential witness to remain silent in the country's biggest-ever graft probe, according to plea bargain testimony by a powerful businessman, newspaper O Globo reported on Wednesday. Temer's office on Wednesday acknowledged he had... Continue Reading →

Brazil's central bank said on Thursday it was monitoring the impact of media reports that President Michel Temer gave his blessing to efforts to bribe a potential witness in a major graft probe and it would act to keep markets functioning properly. "The Central Bank is monitoring the information recently released by the media and... Continue Reading →

Brazilian markets plunged in early trading as a fresh political crisis ensnared President Michel Temer and threatened to derail a reform agenda that had helped restore confidence in the embattled South American nation. Futures of the benchmark Ibovespa gauge plunged 10 percent, and futures of the real hit circuit breaker limits after sinking 6 percent.... Continue Reading →

The chairman of meatpacking giant JBS SA secretly recorded his discussion with Brazilian President Michel Temer about payments to jailed former House Speaker Eduardo Cunha in return for his silence, newspaper O Globo reported on Wednesday. The paper reported, without saying how it obtained the information, that JBS Chairman Joesley Batista and his brother, Chief... Continue Reading →

  The National Petroleum Agency (ANP) will adopt measures to stimulate the participation of investment funds in the upcoming auctions of oil areas. According to the Director General of the agency, Décio Oddone. Among the measures will be the reduction of companies' capital requirements for participation and simplification of practices for consortium formation. - We... Continue Reading →