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With President Dilma Rousseff of Brazil looking increasingly likely to face impeachment by early May, investors are turning their attention to the man who’d succeed her. Michel Temer, the vice president, has plenty of traits that’d be welcomed in a country mired in a brutal recession. Those who know him best say he’s a business-friendly... Continue Reading →
Even as U.S. oil production started to slide in the second half of 2015, the downside risks to oil prices continued to dominate. In the third quarter, broad-based manufacturing softness and financial market turmoil threatened to derail growth in developed markets, bringing some focus back to the demand side of the ledger. Annual oil demand growth proceeded... Continue Reading →
Brazil's largest party will decide on Tuesday to break away from President Dilma Rousseff's floundering coalition, party leaders said, sharply raising the odds she will be impeached amid a corruption scandal. The fractious Brazilian Democratic Movement Party (PMDB) will decide at its national leadership meeting on the pace of disengagement from the Rousseff administration, in... Continue Reading →
The Ibovespa rallied the most in the world and Brazil’s currency advanced on speculation President Dilma Rousseff is close to losing the support of her administration’s most important allied political party, increasing the chances there will be a change in government. State-controlled oil producer Petroleo Brasileiro SA rose even as oil prices fell. Lenders Itau... Continue Reading →
Brazil's President Dilma Rousseff arrives to a meeting with jurists at Planalto Palace in Brasilia, Brazil, March 22, 2016. REUTERS/ADRIANO MACHADO The Brazilian Democratic Movement Party (PMDB) is already working on policies including sweeping welfare cuts should their coalition partner President Dilma Rousseff be impeached and it formed the new government, a newspaper said on... Continue Reading →
Investigations into Latin America’s biggest building conglomerate could nearly triple the number of politicians involved in Brazil’s largest corruption probe. Lists of alleged payments from the Odebrecht SA conglomerate to more than 200 politicians were disclosed in court documents on Tuesday, before being placed under secrecy by Judge Sergio Moro, who has led the so-called... Continue Reading →
After a disastrous 2015, Brazilian stocks and bonds are posting the biggest gains among global peers this year. Speculation that President Dilma Rousseff could soon be ousted, ending a political stalemate that has paralyzed the country, is fueling the rally. Yet, whoever steps into Rousseff’s shoes would face daunting challenges, from closing a crippling budget... Continue Reading →
With Brazil’s impeachment vote growing closer by the day, it’s easy to get lost in a maze of dozens of political parties -- their acronyms and leaders -- all of which will have a say in the future of President Dilma Rousseff’s mandate. For starters, there are 594 seats in Congress shared between 25 parties.... Continue Reading →
In the midst of Brazil's worst recession in decades, lawyer Thiago Jabor Pinheiro switched firms to focus full-time on one of the only booming fields in the scandal-plagued country: compliance and corporate ethics. For Pinheiro, a massive corruption investigation unfolding at state-run oil firm Petrobras offers a golden opportunity. The scandal broke just as a... Continue Reading →
More than 2 million Brazilians are set to lose unemployment benefits by June, data obtained by Reuters show, threatening to erode support for embattled President Dilma Rousseff among her core working class supporters when she needs them most. The expiration of benefits could fuel frustration and feed a growing wave of protests against Brazil's left-leaning... Continue Reading →
Brazil Energy Insight 