Friday, November 27th 2015 - 11:07 UTC

Australia's BHP denies UN report on 'toxic' mine spill from collapsed dam in Brazil

The in Minas Gerais state left 13 people dead, devastating several villages. The noxious river has trailed 500km from the mine into the Atlantic Ocean.

Australian mining giant BHP says mud spilled by the devastating collapse of a dam at a Brazilian mine is not toxic. On Thursday the UN said the dam burst at the Samarco mine unleashed a flood equivalent to “20,000 Olympic swimming pools of toxic mud”.

Friday, November 27th 2015 - 07:55 UTC

Brazilian banks follow closely events in Argentina: Dollar at 12 Pesos

Banks argue the Argentine central bank reserves are at rock-bottom and the tendency is to continue. Likewise inflation is estimated at 28%

Brazilian banks which follow closely events in Argentina and prospects of the new government under president Mauricio Macri, believe the official exchange rate of 9.67 Pesos to the dollar will inevitably have to be devalued, to 12 Pesos by the end of the year, which means a 24% depreciation.

Thursday, November 26th 2015 - 16:57 UTC

In a split vote, Brazil's central bank leaves Selic rate unchanged; pressure for an increase

Copom voted 6-2 to maintain its benchmark interest rate at 14.25%, its highest in nine years. Two of the 8-member voted to raise the Selic to 14.75%

Brazil's central bank kept interest rates on hold for the third straight meeting on Wednesday in a split vote that shows policymakers are uneasy about inflation, a worsening recession which might lead to a raise in rates early in 2016.

Thursday, November 26th 2015 - 08:23 UTC

Brazil in shock: a leading senator and billionaire fund manager arrested for obstructing justice

Senator Delcidio Amaral, who leads President Dilma Rousseff's Workers' Party in the upper house, was the first sitting legislator to be put behind bars

Brazil is in shock following the arrest by police on Wednesday of a senior ruling-party senator and a billionaire investment banker in the intensifying probe of a huge corruption network centered on state oil giant Petrobras.

Thursday, November 26th 2015 - 08:18 UTC

Poor report on Rousseff's performance from Brazil's central bank forecast

President Rousseff has been forced to raise taxes, cut spending and investment, and Congress members from her coalition don't accept it

Analysts expect Brazil's economy to contract by 3.15% this year and 2.01% in 2016, the Central Bank reported. The gross domestic product (GDP) estimate comes from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.

Wednesday, November 25th 2015 - 08:41 UTC

A rancher close to Lula da Silva arrested on Petrobras corruption probe

Federal police said that Bumlai was arrested in Brasilia and taken to Curitiba for questioning by Judge Sergio Moro, who heads the massive Petrobras probe

Brazilian authorities working on the country’s huge Petrobras corruption probe arrested Jose Carlos Bumlai, a rancher reportedly close to powerful former president Luiz Inacio Lula da Silva.

Monday, November 23rd 2015 - 08:42 UTC

Brazil job losses accelerated during October; 1.4 million in twelve months

Companies cut staff across business sectors and regions. Manufacturing, construction and services firms laid off nearly 50,000 workers in each sector

Job losses in Brazil accelerated in October to the fastest pace so far this year as the country's political and economic crisis continues to worsen. Brazil's economy lost a net 169,131 payroll jobs in October, the Labor Ministry reported, up from 95,602 layoffs in September.

Saturday, November 21st 2015 - 08:01 UTC

Petrobras back to normal activity as splinter union ends 20-day strike

Sindipetro represents workers in the Campos Basin, Brazil’s most productive offshore region and had been resisting calls by FUP to end the strike.

Earlier on Friday a key Petrobras workers union voted to end a 20-day strike that disrupted output. Workers at the Sindipetro Norte Fluminense local, who had ignored the largest oil workers' union FUP's call to end the strike that started on November first, will return to work Friday evening at onshore operations, union spokesman Tezeu Bezerra.

Friday, November 20th 2015 - 10:16 UTC

BHP Billiton and Vale face civil lawsuit of US$ 3.69bn over dam collapse in Brazil

The mud wave destroyed homes in Minas Gerais, contaminated the Rio Doce river and threatens drinking water and wildlife in next door Espirito Santo

A BHP Billiton and Vale joint venture in Brazil is facing its first civil lawsuit over the dam collapse at its iron ore mine on November 5 that buried a town and contaminated the region's main river.

Friday, November 20th 2015 - 09:44 UTC

Brazilian economic activity contracts for the fourth straight quarter

The bank's IBC-Br economic activity index indicates economic activity fell 1.41% in the third quarter from the previous three months.

Economic activity in Brazil contracted for the fourth straight quarter, central bank data showed this week as Latin America's biggest economy plunges further into recession. The bank's IBC-Br economic activity index indicates economic activity fell 1.41% in the third quarter from the previous three months.


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