A medical doctor by training, Antonio Palocci was Brazilian former president Luiz Inacio Lula da Silva's finance minister and a key player in the 2002 election campaign that put the union and PT (Workers Party) leader in the presidential seat.
Brazilian presidents Lula da Silva and Dilma Rousseff former Presidential Chief of Staff and Finance Minister Antonio Palocci was temporarily arrested on Monday morning in São Paulo as part of the 35th phase of the Lava Jato (Car Wash) Operation investigating the Petrobras corruption scandal.
Brazilian Supreme Court judge has authorized a preliminary investigation into allegations from former Transpetro head Sergio Machado that President Michel Temer illegally solicited campaign money in 2012. Machado, who secured a plea deal after being implicated in the widely publicized Lava Jato scandal, said in court that Temer had asked for donations to benefit Sao Paulo's mayoral campaign for Gabriel Chalita.
U.S. Treasury Secretary Jacob Lew will urge his counterparts in Argentina, Brazil, Colombia and Mexico to press ahead with economic and fiscal reforms aimed at restoring or strengthening growth, a senior Treasury official said on Friday. Lew will be visiting the four largest Latin American economies this week beginning with Argentina on Monday, recognizing efforts by President Mauricio Macri to reintegrate Argentina into the global economy.
Brazilian president Michel Temer addressing business leaders and foreign policy experts in New York earlier this week revealed another twist to the recent political events in the country which led to the impeachment and removal of his elected predecessor Dilma Rousseff.
The Amaro family from Brazil, one of the main controllers of LATAM Airlines, sold a 6.47% stake in the regional carrier on Friday on the Santiago stock exchange for some US$296 million, as part of a strategy to modify the company's ownership structure.
A consortium led by Canada's Brookfield Infrastructure has signed a deal to buy a controlling stake in a natural gas pipeline system in Brazil from Petrobras for US$5.2 billion. Under the deal, the consortium will acquire a 90% stake in Nova Transportadora do Sudeste S.A. (NTS). Petrobras will retain a 10% stake.
Brazil’s Petrobras announced it will be spending US$74.1 billion over the next five years, 25% reduction on the US$98.4 billion for the previous five years capital expenditure. This is also the company’s lowest five-year budget since 2006.
President Michel Temer criticized a surprise move by Brazilian lawmakers, including some members of his party and even a cabinet minister, to wipe the slate clean on illegal donations they allegedly received.
Former President Dilma Rousseff called the prosecution of her predecessor on corruption charges another attack on Brazil's democracy, speaking just weeks after the Senate removed her from office in an impeachment trial.