The New York Stock Exchange suspended trading of Brazil’s state-owned power utility Eletrobras in the U.S. Wednesday and began delisting procedures after the company said it would miss a Wednesday deadline to submit its 2014 financial results. Eletrobras has already delayed the filing to the U.S. Securities and Exchange Commission three times as it conducts internal investigations... Continue Reading →

Brazil’s new central banker Ilan Goldfajn comes to the job with a sober view on Latin America’s largest economy, saying approval for recovery measures will be hard to come by. As chief economist for Brazil’s largest bank Itau Unibanco Holding SA, Goldfajn expected a deeper economic contraction than the 3.7 percent median forecast by 41 economists... Continue Reading →

Brazil's new Minister of Transparency and Oversight said he was suspending negotiations of leniency agreements sought by engineering and construction companies caught up in a massive corruption investigation. The minister, Fabiano Silveira, said in a Globo News television interview aired on Tuesday that interim President Michel Temer's government wants prosecutors and the federal audit court... Continue Reading →

Itau Unibanco Holding SA’s chief economist Ilan Goldfajn was nominated on Tuesday to head up Brazil’s central bank, as Acting President Michel Temer works quickly to put in place an economic team to renew investor confidence and revive growth. Finance Minister Henrique Meirelles made the announcement, also appointing Mansueto de Almeida as secretary for economic... Continue Reading →

Brazil’s Acting President Michel Temer has appointed Maria Silvia Bastos Marques, the former chief executive of steelmaker Cia. Siderurgica Nacional, to head up Brazil’s state development bank BNDES. Marques, 59, has also served as CEO of Rio de Janeiro’s Olympic Company and finance secretary for the city’s government. Temer’s press office announced her appointment by... Continue Reading →

Brazil’s real joined gains in emerging markets on Monday as commodities advanced, boosting the outlook for the country’s raw-materials exports. The Ibovespa fluctuated. The currency strengthened 1 percent to 3.4994 per dollar at 4:18 p.m. in Sao Paulo as metals and crude rallied. The Bloomberg Commodity Index added 0.8 percent, improving inflows prospects for a... Continue Reading →

To the people who benefited most from the long, recently truncated rule of Brazil's leftist Workers Party, the look of the successor government could not be more disheartening. Whereas cabinet posts over the past 13 years were often filled by women and blacks, new Interim President Michel Temer last week presented a group of 23... Continue Reading →

May 15 Brazil's government is considering selling stakes in state-controlled assets including its postal company as well as holdings in transport, power and insurance firms in a bid to raise capital and streamline the public sector, a newspaper reported on Sunday. Interim President Michel Temer's government is working with a list of companies and sectors... Continue Reading →

Brazil's interim president, Michel Temer, said in a televised interview Sunday that he hopes to reduce unemployment and bring economic and political calm to Latin America's biggest country. Temer, a centrist who took over as interim president last week after Brazil's senate voted to suspend Dilma Rousseff and try her for irregularities in the government... Continue Reading →