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Brazil’s political crisis Time to go The tarnished president should now resign Mar 26th 2016 | From the print edition/Economist DILMA ROUSSEFF’S difficulties have been deepening for months. The massive scandal surrounding Petrobras, the state-controlled oil giant of which she was once chairman, has implicated some of the people closest to her. She presides over an economy... Continue Reading →
Halliburton Co.’s bid to buy oil-services rival Baker Hughes Inc. was opposed by the world’s fifth-largest producer Tuesday, a day after being stalled by European regulators. Total SA Chief Executive Officer Patrick Pouyanne said Tuesday that the planned tie-up of the world’s second- and third-largest oil services providers is not good news for explorers and... Continue Reading →
Odebrecht SA has signaled its executives will seek a plea bargain in Brazil’s largest-ever corruption case, after its former chief executive officer was sentenced to 19 years in prison. In a statement entitled "Commitment to Brazil" posted on its website, the construction and engineering conglomerate says it decided in favor of a "definitive cooperation" with... Continue Reading →
Brazil’s real dropped ahead of a central bank intervention to weaken the currency. The central bank will offer up to 20,000 foreign-exchange reverse swap contracts on Wednesday, equivalent to buying dollars in the futures market. It will also reduce rollover auctions to 2,500 contracts a day from 3,600 previously. The real lost 1.6 percent to... Continue Reading →
Brazilian federal police were seeking to arrest 15 people on Tuesday as part of the corruption investigation centered on state-run oil producer Petroleo Brasileiro SA (PETR4.SA), police and federal prosecutors said. Tuesday's operation, codenamed "Xepa", uncovered a bribe-payment scheme led by Odebrecht SA [ODBES.UL], Latin America's largest engineering and construction conglomerate, police said in a... Continue Reading →
Mounting speculation that Brazil President Dilma Rousseff will be impeached is making it cheaper for the cash-strapped nation to borrow. At a local bond auction Thursday, Brazil sold 1.5 billion reais ($415 million) of notes due in January 2020 to yield 14.1 percent, the lowest since August. A week earlier, the government issued 3.85 billion... Continue Reading →
Brazil's ruling coalition lacks the votes in the Senate to defeat a request to remove left-leaning President Dilma Rousseff from office if it is approved by the lower house, a senior senator in the coalition's largest party said on Sunday. The leading member of the Brazilian Democratic Movement Party (PMDB), who asked not to be... Continue Reading →
Brazil is bracing itself for another week of drama, in which the Supreme Court and Congress will chart the path through the nation’s political crisis after a poll showed two-thirds of its citizens want President Dilma Rousseff ousted. The Attorney General’s office over the weekend called on the Supreme Court to quickly and definitively settle... Continue Reading →
THE ASSOCIATED PRESS MARCH 20, 2016, 10:54 A.M. E.D.T. A new poll in Brazil is showing strong support for the impeachment of President Dilma Rousseff. The respected Datafolha agency says 68 percent of people surveyed want to see lawmakers vote to impeach Rousseff. That's up 8 percentage points since February. The results published in Sunday's Folha... Continue Reading →
A top judge in Brazil ruled on Friday that Luiz Inacio Lula da Silva should be stripped of a ministerial role so he can be investigated for graft, minutes after the ex-president rallied tens of thousands of supporters behind embattled President Dilma Rousseff. In a move likely to inflame tensions between the judiciary and Brazil's... Continue Reading →
Brazil Energy Insight 