Brazil’s real rallied after the government suffered a setback in Congress that fueled speculation there may be more support to oust President Dilma Rousseff than previously expected. The real gained 0.8 percent to 3.7673 per dollar as of 10:13 a.m. in Sao Paulo. One-month implied volatility fell to 20.14 percent, still the highest among 16 major currencies... Continue Reading →

Brazil’s real declined the most in a week after economic data from China, the country’s biggest trading partner, sparked a slump in currencies of commodity-producing nations. The real lost 1.1 percent to 3.8084 per dollar as of 11:28 a.m. in Sao Paulo, after rising as much as 0.6 percent earlier. A gauge of 20 developing-nation currencies declined... Continue Reading →

Brent crude fell below $40 a barrel for the first time in almost seven years after OPEC effectively abandoned any limits on crude output, prompting speculation that a record global glut will continue. Brent crude fell 2.1 percent to $39.88 a barrel at 1:45 p.m. London time Tuesday, the lowest since Feb. 20, 2009. Oil... Continue Reading →

Brazilian federal prosecutors presented formal charges against billionaire financier Andre Esteves and Senator Delcídio do Amaral on Monday, accusing them of obstructing a criminal investigation into state-run oil company Petrobras, according to a source familiar with the matter. Esteves, a founder and top shareholder of investment bank BTG Pactual SA and Amaral, who is President... Continue Reading →

Mon Dec 7, 2015  Reuters Dec 7 The controlling shareholders of Brazilian port operator Prumo Logistica SA are planning to delist the company in a public offering that could be worth more than 800 million reais ($210 million), according to a securities filing on Monday. Prumo said its controlling shareholders will offer up to 1.15... Continue Reading →

Brazil’s Vice President Michel Temer in a personal letter criticized Dilma Rousseff’s disdain for him, aggravating a political crisis amid opposition efforts to remove her from office. In the letter published by all major newspapers in the country, Temer said Rousseff never trusted him and gave several examples of how she had ignored him for... Continue Reading →

Brazil’s President Dilma Rousseff on Monday stepped up efforts to protect her mandate as legislators choose members of a committee that will recommend whether to impeach her. The full lower house of Congress is scheduled to vote Monday evening whether to accept the 65 members of the committee who are nominated by party leaders. The committee... Continue Reading →

Brazil won’t have room to cut interest rates next year as inflation remains above the upper limit of the target in spite of a deepening back-to-back recession, according to a central bank survey. Policy makers will keep the benchmark interest rate on hold at 14.25 percent next year, compared to a forecast of 14.13 percent... Continue Reading →