Brazilian Real Weakens Past 3.0 to the Dollar for First Time Since 2004 Concerns about the struggling economy and political problems push investors to buy dollars By JEFFREY T. LEWIS March 5, 2015 10:43 a.m. ET Wall Street Journal SÃO PAULO—The Brazilian real reached its weakest level since 2004 in midday trading Thursday as concerns... Continue Reading →
Heated Exchanges as Brazilian Lawmakers Start Petrobras Probe
Heated Exchanges as Brazilian Lawmakers Start Petrobras Probe By Juan Pablo Spinetto 1:22 PM BRT March 5, 2015 (Bloomberg) -- Shouting and finger-pointing between lawmakers marked the opening of Congress’s latest probe of corruption allegations at Brazil’s state-controlled oil company. Lawmakers raised their voices and yelled accusations as they argued over the creation of... Continue Reading →
Brazil raises interest rates to 12.75% to curb inflation
5 March 2015 Last updated at 08:56 GMT BBC News Brazil raises interest rates to 12.75% to curb inflation Brazil's central bank has lifted interest rates to a six-year high of 12.75% to restrain inflation. Inflation in Brazil, Latin America's largest economy, was at a 12-year high in February of 7.4%. The government's target is 6.5%. Brazil's... Continue Reading →
Brazil’s Real Leads Global Drops as Rousseff Rebuffed on Taxes
Brazil’s Real Leads Global Drops as Rousseff Rebuffed on Taxes By Filipe Pacheco 10:07 AM BRT March 4, 2015 (Bloomberg) -- Brazil’s real led global currency declines as President Dilma Rousseff was rebuffed in the Senate over the unwinding of tax breaks, adding to concern that she will struggle to shore up the budget. The... Continue Reading →
Petrobras scandal set to snare politicians
http://www.ft.com/cms/s/0/5753f704-c233-11e4-ad89-00144feab7de.html#ixzz3TPXRbZXg PETROBRAS SCANDAL SET TO SNARE POLITICIANS March 4, 2015 9:51 am ©Getty Joe Leahy in São Paulo In Brazil’s modernist Congress building this week, the talk among lawmakers has focused on one subject only — who is on “Janot’s list”. Rodrigo Janot, attorney-general, on Tuesday night sought Supreme Court approval to investigate 28 cases... Continue Reading →
Petrobras CEO Lost Job Over a $30 Billion Disagreement
Petrobras CEO Lost Job Over a $30 Billion Disagreement By Sabrina Valle Anna Edgerton 12:00 AM BRT March 4, 2015 Maria das Gracas Foster, former Chief Executive Officer of Petroleo Brasileiro SA (Petrobras). Photographer: Yasuyoshi Chiba/AFP/Getty Images (Bloomberg) -- As the kickback and money-laundering scandal engulfing state-run oil giant Petrobras escalated in late January,... Continue Reading →
Petrobras fall from grace roils wider Lat Am debt markets
http://www.ft.com/cms/s/0/9c00b9f6-c0e8-11e4-9949-00144feab7de.html#ixzz3TKPZthko Last updated: March 3, 2015 11:10 am Petrobras fall from grace roils wider Lat Am debt markets Vivianne Rodrigues in New York and Joe Leahy in São Paulo Moody’s decision last week to strip Brazil’s oil company Petrobras of its investment grade status and send it two notches into junk territory triggered a sharp sell-off in the country’s... Continue Reading →
As Brazil Tightens Belt, Other Woes Follow
As Brazil Tightens Belt, Other Woes Follow President Dilma Rousseff’s austerity measures are angering supporters and exacerbating an economic slowdown Brazilian Finance Minister Joaquim Levy, left, consults with President Dilma Rousseff this past week in Brasília, the country’s capital.PHOTO: ASSOCIATED PRESS By PAULO TREVISANI And ROGERIO JELMAYER Wall Street Journal Feb. 27, 2015 6:11 p.m. ET ... Continue Reading →
BRAZIL Latin America’s erstwhile star is in its worst mess since the early 1990s
Brazil In a quagmire Latin America’s erstwhile star is in its worst mess since the early 1990s Feb 28th 2015 | From the print edition The Economist Brazil’s economy is in a mess, with far bigger problems than the government will admit or investors seem to register. The torpid stagnation into which it fell in 2013 is... Continue Reading →
Downgrade of Brazil Oil Giant Stirs Wider Concern
Downgrade of Brazil Oil Giant Stirs Wider Concern Moody’s move to lower Petrobras’s debt to junk status sparks worries for broader economy WALL STREET JOURNAL By WILL CONNORS and PAULO TREVISANI Updated Feb. 25, 2015 9:35 p.m. ET SÃO PAULO—A decision by a major credit-rating firm to downgrade to junk status the debt of Petróleo Brasileiro SA is... Continue Reading →
