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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 →
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 →
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 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's Supreme Court dealt President Dilma Rousseff a blow on Wednesday in her fight to avert impeachment proceedings by refusing to delay a ruling by auditors on alleged doctoring of government accounts. Later on Wednesday, Brazil's Federal Accounts Court, known as the TCU, is expected to reject her government's accounts because budget results were manipulated... Continue Reading →
The 13th Brazil Oil and Gas Auction is considered the worst fiasco. Only 14% of the blocks were negotiated bringing a total of R$121 million to the govt coffers or only 12% of the minimum estimate of R$977 million. The round was marked by the absence of Petrobras and all the oil majors. This is... Continue Reading →
Dead Cat Bounce or Overshooting? Brazil’s real headed for its longest winning streak since May as U.S. oil approached $50 a barrel for the first time since July, spurring gains in emerging markets and the currencies of commodity-producing nations. The real gained 1 percent to 3.8152 per dollar at 9:43 a.m. in Sao Paulo, extending... Continue Reading →
Behold a once mighty sovereign wealth fund laid low(er) by plunging oil prices. Bloomberg reports on Wednesday that Norway is predicting it will have to withdraw cash from its $820bn SWF for the first time ever as it deals with lower oil prices and budget holes. That move comes on top of a series of hits... Continue Reading →
Brazil’s top electoral court agreed to open an investigation into allegations that President Dilma Rousseff illegally financed her re-election campaign. The charges could provide grounds for her removal from office along with Vice President Michel Temer. Five members of the court, known as TSE, voted on Tuesday to open the investigation, while two judges voted... Continue Reading →
Brazil's Congress postponed for a third time voting on Tuesday on whether to overrule President Dilma Rousseff's vetoes of two spending bills despite a cabinet reshuffle last week that was meant to bolster her support in the legislature. For lack of a quorum, Congress put off until Wednesday considering the vetoes that are crucial for... Continue Reading →
