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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’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 →
