Until recently, Lucinelia de Jesus Souza's future seemed bright, running a small coffee shop that caters to factory workers and other blue-collar customers in this industrial suburb of São Paulo. But the faded pink counters of her shoebox-sized business, which opened a decade ago and blossomed as Brazil's economy grew quickly, now see fewer customers... Continue Reading →
UPDATE 1-OPEC sees more demand for its crude in 2016 as cheap oil hits rivals
OPEC forecast on Monday that demand for its oil in 2016 would be much higher than previously thought as its strategy of letting prices fall hits U.S. shale oil and other rival supplies, reducing a global surplus. In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) forecast the world would need 30.82... Continue Reading →
Rousseff’s Most Powerful Foe Suffers Blow in Kickback Scandal
Eduardo Cunha, President Dilma Rousseff’s most powerful adversary, said he won’t resign as head of Brazil’s lower house even as some of his supporters in Congress urged him to leave following news reports that he received kickbacks. He denies any wrongdoing. The political blow, which Cunha blames on the federal prosecutor’s office, reduces his ability... Continue Reading →
Exclusive: Brazil’s Levy says he has president’s backing, isn’t quitting
Brazilian Finance Minister Joaquim Levy told Reuters on Saturday that President Dilma Rousseff backed his policies, and he intends to stay on the job as long as needed to put the books in order and pull the economy out of its slump. Market speculation that Levy, an orthodox economist widely respected among investors, was considering... Continue Reading →
Brazil’s Cunha Got Kickbacks From Petrobras Contract
Eduardo Cunha, the head of Brazil’s lower house, allegedly received kickbacks stemming from a Petrobras contract in Africa,Folha de S. Paulo reported Saturday, citing documents sent by the Swiss public prosecutor to local authorities. As head of the lower house, Cunha has the power to accept or reject impeachment requests that can be filed by any... Continue Reading →
Goldman Sachs: This Oil Rally Is Not Going to Last
Oil has been surging this week but Goldman Sachs is calling for gains to be short-lived. The front-month West Texas Intermediate futures contract enjoyed a double-digit advance in recent days, breaking above $50 per barrel on Thursday for the first time since July: Read More
Lula’s Back in Charge in Brazil to Save Rousseff and Himself
President Dilma Rousseff of Brazil was so close with her chief of staff that aides said if she ever fired him it would be like firing herself. Last week, that’s what she did. The removal of Aloizio Mercadante and other top ministers showed not only political desperation amid fears of her impeachment but also the... Continue Reading →
Impeaching a Brazilian president in five steps
Brazilian President Dilma Rousseff lost a key legal battle when a federal audit court rejected her government's accounts from 2014 on Wednesday, paving the way for opponents to try to impeach her. Congress must still decide whether she broke Brazil's budget law, an impeachable offense. Following are the steps of a presidential impeachment under Brazil's... Continue Reading →
UPDATE 6-Brazil’s president loses legal battle, faces impeachment threat
Brazil's besieged President Dilma Rousseff lost a major battle on Wednesday when the federal audit court rejected her government's accounts from last year, paving the way for her opponents to try to impeach her. In a unanimous vote, the Federal Accounts Court, known as the TCU, ruled that Rousseff's government manipulated its accounts in 2014... Continue Reading →
Brazil real halts 3-day winning streak on political jitters
Brazil real halts 3-day winning streak on political jitters Reuters RIO DE JANEIRO, Oct 7 The Brazilian real fell nearly 1 percent on Thursday after three days of gains as concerns that President Dilma Rousseff might fail to pass crucial austerity measures outweighed bets that the U.S. Federal Reserve will refrain from raising rates this... Continue Reading →
Brazil Energy Insight 