Brazil's attorney general argued on Sunday for the removal of a judge overseeing an investigation of embattled President Dilma Rousseff's accounts, a last-minute attempt to avoid a ruling that could lead to her impeachment. Attorney General Luis Inacio Adams said Judge Augusto Nardes of the Federal Accounts Court, or TCU, had erred in making his... Continue Reading →
Former Petrobras CEO Jose Dutra Dead at 58, Workers’ Party Says
Jose Eduardo Dutra, former Petroleo Brasileiro SA chief executive and Workers’ Party president, died Sunday after battling cancer, the party’s website said. He was 58. Dutra, a union leader and party member who was elected senator in 1994, became the state-run energy company’s first CEO under the four consecutive Workers’ Party governments, in 2003. He... Continue Reading →
Brazil court allows Lula questioning in Petrobras corruption case
Brazil's Supreme Court authorized the questioning by police of ex-President Luiz Inácio Lula da Silva in a broadening corruption case focused on state-run oil company Petrobras, a representative for the court said on Friday. The original motion for permission to question Lula as a witness, which was filed last month, said the popular leader "may... Continue Reading →
Brazil’s Rousseff bars fiscal ‘backpedaling’ ahead of court ruling
Brazilian President Dilma Rousseff on Friday barred government delays in repaying state-run banks, in an attempt to strengthen her defense ahead of a court ruling on such postponements that could serve as grounds for her impeachment. Rousseff published a decree to ban delays as she faces potential impeachment on accusations she broke the nation's fiscal... Continue Reading →
Brazil’s Rousseff reshuffles cabinet to keep allies on board
Brazil's beleaguered President Dilma Rousseff shrank her cabinet and reshuffled ministers on Friday to bolster alliances within her coalition government and block efforts to impeach her. Rousseff named former defense minister Jacques Wagner, a political heavyweight, as her chief of staff and put one additional cabinet post, the health ministry, under control of the PMDB,... Continue Reading →
Brazil lower house speaker under pressure over Swiss accounts
A group of lawmakers called for the resignation of the speaker of Brazil's lower house of Congress Eduardo Cunha on Thursday after Switzerland provided Brazilian prosecutors with details of Swiss bank accounts in his name. Cunha, who has been charged with corruption and money laundering in Brazil's largest-ever bribery and political kickback scandal, refused to... Continue Reading →
Brazil Real Slides as Lawmakers Vote to Boost Fiscal Spending
Brazil’s real weakened the most among emerging-market currencies after lawmakers approved amendments to a retirement bill that would boost government spending, dealing a blow to efforts to shore up the country’s finances. The real dropped 0.7 percent to 3.9748 per dollar at 12:18 p.m. in Sao Paulo, ending two days of gains. The real is down... Continue Reading →
U.S. Is Net Oil Exporter to Mexico for First Time in Two Decades
The U.S. became a net oil exporter to Mexico for the first time in more than 20 years as output from shale fields pushed the world’s biggest consumer toward energy independence. Net exports -- comprising only oil products since the U.S. bans most shipments of crude -- totaled 48,000 barrels a day in July, the... Continue Reading →
Brazil Said to Consider Key Rate Increase If Budget Plan Derails
Brazil’s central bank will consider a marginal increase in interest rates if the government fails to shore up fiscal accounts, said a member of President Dilma Rousseff’s economic team. Policy makers still expect Rousseff to implement tax increases and spending cuts that will reverse a projected budget deficit before interest payments into a surplus next... Continue Reading →
Default on Brazil electricity market grows – traders
Default on the Brazilian electric energy market has spread to critical levels, energy traders said on Tuesday, as hydroelectric generators balk at hefty bills for which the local regulator says they are on the hook. After nearly two years of drought and long delays in completion of new generation projects such as large scale dams... Continue Reading →
