A group of lawmakers called for the resignation of the speaker of Brazil's lower house of Congress, Eduardo Cunha, after Switzerland provided Brazilian prosecutors with details of Swiss bank accounts in his name.
Brazilian President Dilma Rousseff on Friday announced a Cabinet reshuffle that reduces the number of posts from 39 to 31 and gives a more significant role to the Brazilian Democratic Movement Party, or PMDB, the country's biggest and a key ally of her Workers' Party.
Brazil largest party, main ally and pillar of President Dilma Rousseff's fragile coalition said it was “110% satisfied” with the changes announced on Friday: reducing cabinet posts from 39 to 31, slashing thousands of coveted jobs for political appointees and cutting her salary and that of the vice president by 10%.
Brazilian President Dilma Rousseff's approval ratings languished in September, held down by the country’s economic and political crises, as her opposition in Congress considers opening impeachment proceedings.
Brazil's state-controlled Petrobras unexpectedly increased wholesale gasoline and diesel prices in the domestic market, potentially widening a controversial premium to international prices. The heavily indebted company said that the gasoline price would increase by 6%, and diesel by 4%, as of this Wednesday.
The World Trade Organization shaved half a percentage point off its global trade projections for 2015, after a disappointing first half of the year left export growth weakened across the developing world. World merchandise trade volume is expected to rise 2.8% for the year, down from April projections of 3.3%. The WTO also revised its 2016 projections to 3.9%, from 4.0%.
Brazilian former president Fernando Henrique Cardoso, (1995/2002) said that the serious economic situation faced by Brazil is very complex, will take time to overcome and most surely the impact will be felt in neighboring Uruguay, a country which must target other markets, other economic spaces.
Brazil President Dilma Rousseff cited the nation's foreign currency reserves as a backstop to excessive volatility and weakness in the Brazilian Real.
President Dilma Rousseff pledged on Sunday to slash Brazil’s greenhouse gas emissions by 37%, during her speech to the UN General Assembly. Outlining her vision for a global climate change agreement on Sunday, Rousseff stressed on the importance of a “common response”.
Transocean Ltd., a top offshore drilling company, has been mentioned in testimony in a corruption investigation focused on Brazil's state-run Petrobras, Brazilian court documents showed.