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Legislators are gearing up to revive Brazil’s stalled impeachment process as early as this week after millions of people on Sunday demanded the ouster of President Dilma Rousseff. Lower house speaker Eduardo Cunha said he would call for the creation of a congressional committee tasked with issuing a recommendation on impeachment the day after the... Continue Reading →
Dilma Rousseff’s future as president of Brazil was cast into further doubt as millions of protesters, wearied by scandal and recession, staged some of the largest rallies in the country’s modern history. Brazilians demonstrated peacefully for Rousseff’s ouster in cities throughout the country on Sunday, with some estimates counting more than 3 million people on... Continue Reading →
Reuters A gauge of economic activity in Brazil in January fell for the 11th straight month, official data showed on Monday, indicating the country's recession deepened at the start of the new year. The Brazilian central bank's IBC-Br economic activity index fell 0.61 percent in January from the prior month, the bank said. A Reuters... Continue Reading →
Brazil's President Dilma Rousseff speaks during a news conference at the Planalto Palace in Brasilia, Brazil March 11, 2016. REUTERS/UESLEI MARCELINO Graft money skimmed from overpriced contracts to build the Belo Monte hydroelectric dam in the Amazon funded President Dilma Rousseff's 2010 and 2014 election campaigns, a ruling Workers' Party senator has testified according to... Continue Reading →
Brazilian prosecutors late on Saturday accused executives from construction conglomerate Odebrecht and state-run oil company Petrobras of misconduct and demanded they pay 7.3 billion reais ($2 billion) in damages. Prosecutors accused Odebrecht of paying bribes to win multi-billion dollar contracts with Petrobras as part of a massive corruption scheme that implicated dozens of politicians and... Continue Reading →
Brazilian President Dilma Rousseff's main coalition partner served notice on Saturday that it could break from her embattled Workers' Party government in 30 days and join opposition efforts to unseat the leftist leader. At a rowdy convention of the fractious Brazilian Democratic Movement Party (PMDB), leaders quashed a motion by irate delegates who wanted to... Continue Reading →
Demonstrators depicting Brazil's former President Luiz Inacio Lula da Silva (L) and Brazil's President Dilma Rousseff attend a protest against Rousseff, part of nationwide protests calling for her impeachment, in Brasilia, Brazil, March 13, 2016. REUTERS/UESLEI MARCELINO Protesters poured en masse onto the streets of Brazil's major cities on Sunday to demand the removal... Continue Reading →
Petroleos Mexicanos’ woes are hitting home for suppliers that less than two years back were preparing for an oil boom. Cotemar, one of Mexico’s largest oil service providers, will lay off as many as 2,000 workers after Pemex suspended two of the company’s contracts amid massive budget reductions, according to a company official, asking not to... Continue Reading →
Investors swooped on Brazil's first sovereign bond deal since 2014 on Thursday, as the country's deepening corruption scandal bolstered expectations of a change in government. The country took advantage of a strong rally in global credit to print a US$1.5bn due April 2026 bond at 6.125%, the most it has paid for 10-year funding since... Continue Reading →
Brazil's President Dilma Rousseff speaks during a news conference at the Planalto Palace in Brasilia, Brazil March 11, 2016. REUTERS/UESLEI MARCELINO Brazil's President Dilma Rousseff rejected calls for her resignation on Friday midst a political storm deepened by a massive corruption scandal and blamed her opponents for causing a crisis that has damaged the Brazilian... Continue Reading →
