Brazil

Brazil
Wednesday, March 4th 2015 - 06:14 UTC

Brazil's currency at its weakest since September 2004...and sliding

Brazil’s economy is expected to shrink this year, and may have contracted last year as well, while the trade deficit is ballooning

The Brazilian Real reached on Tuesday its weakest level against the dollar in more than 10 years, amid concern the country’s political and economic situation is growing worse.

Wednesday, March 4th 2015 - 05:38 UTC

Petrobras corruption: top prosecutor hands the Supreme Court names of 54 politicians

Janot's office did not release names of the politicians. Under Brazilian law, politicians and cabinet members can only be tried by the Supreme Court

Brazil's top prosecutor Rodrigo Janot asked the Supreme Court on Tuesday to open an investigation into 54 politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petrobras a Supreme Court spokesperson said on Tuesday.

Tuesday, March 3rd 2015 - 06:17 UTC

Truckers strike in Brazil still disrupting traffic in several states; soy harvest delayed

The industrial action has slowed down exports of soy beans in the midst of harvest: 600 trucks instead of the usual 3.000 are reaching Paranagua.

Striking truck drivers resumed some roadblocks in Brazil on Monday even as the government cracked down on protesters and promised to implement a law to lower toll costs and give other benefits to the transport sector.

Tuesday, March 3rd 2015 - 06:05 UTC

“One Team, One Country, One Dream” - It's just Davis Cup tennis

Juan Martín del Potro will not play, but will assist Argentina's Davis Cup tennis team in any way he can to face Brazil over the weekend in Buenos Aires.

By Federico Coronado - Argentina's team prepares for this coming weekend's clash against Brazil. Statement of unity with controversial choice of words for tie versus sporting arch-rivals. Del Potro still not fit, will be there to assist teammates, anyway.

Sunday, March 1st 2015 - 22:03 UTC

Brazil consumers' power bills increase an average 23.4% as of next Monday

The rate hike is geared to cover the estimated 22.1 billion Real (7.77 billion dollars) cost of a subsidy program, the government no longer will finance

Brazil's utilities were granted an average special rate hike of 23.4% to cover the costs of a energy subsidy program that the government of President Dilma Rousseff has decided to stop funding directly, the country's electrical energy system regulator said on Friday, as reported by Folha de Sao Paulo.

Saturday, February 28th 2015 - 08:03 UTC

Brazilian Judge has ordered the suspension of the messaging WhatsApp

Judge Luiz de Moura Correia ordered the suspension earlier this month, though the service has continued to operate normally.

A Brazilian judge says he has ordered the suspension of the globally popular instant messaging system WhatsApp across the country because it has allegedly failed to help in an investigation.

Friday, February 27th 2015 - 08:22 UTC

Brazilian hard line unions win conflict and beat moderates in elections

In a compromise with the union, GM agreed to furlough 650 workers for five months, with a guarantee they will get their jobs back

Workers at a General Motors Co car factory in Brazil ended a six-day strike on Thursday after the company dropped plans to lay off 800 employees, the union said, ending the latest labor standoff in the troubled Brazilian auto industry.

Friday, February 27th 2015 - 08:14 UTC

Striking Brazilian truckers will be fined for roadblocks, warns government

Cardozo admitted 97 road blocks remain, down from a peak of 119 on Wednesday, as truckers protest in seven states over fuel prices and other costs.

The Brazilian government will start fining truckers as a strike in its ninth day threatens Latin America’s largest economy with food and fuel shortages. According to a report from Folha de Sao Paulo, the police will fine drivers who block highways as much as 10,000 Reais (3,470 dollars) per hour, Justice Minister Jose Eduardo Cardozo told reporters in Brasilia.

Thursday, February 26th 2015 - 05:17 UTC

Truckers strike is bringing Brazil and Rousseff's administration to its knees

The Rousseff government said that Petrobras had no plan to lower diesel prices over the next six months, which is one of the principal demands of the strikers

The Brazilian government told truckers and transport companies late Wednesday it would extend a year of free financing for vehicles and pass a law that would benefit the sector if protesters ended a crippling strike now in its eighth day.

Thursday, February 26th 2015 - 04:48 UTC

Rousseff lashes out at Moody's for downgrading Petrobras debt to junk-bonds

“It's a lack of knowledge about what's happening at Petrobras. I have no doubt this is a company with a great ability to recover without major consequences”

Brazilian President Dilma Rousseff on Wednesday said credit rating agency Moody's Investors Service downgraded state-controlled oil giant Petrobras' debt to junk-bond territory due to ignorance of the company's situation.

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