Brazil

Brazil
Saturday, June 20th 2015 - 09:06 UTC

Brazil' economic activity further contracts in April as confidence dwindles

A shrinking economy and inflation running at an 11-year high have raised popular discontent with President Dilma Rousseff

Economic activity in Brazil fell sharply in April from March, worse than already negative market estimates and showing still more evidence the once-booming economy is heading toward a recession.

Saturday, June 20th 2015 - 08:38 UTC

Venezuelan lawmakers blast Brazilian senators' trip as 'abusive and meddling'

These political groups are intent “not only to come and threaten but also to torpedo good relations between Venezuela and Brazil” said  Tania Diaz

Venezuela's ruling Socialist Party legislators reacted to a trip by Brazilian senators to visit jailed opponents of President Nicolas Maduro by describing it as “abusive” and “meddling”. The Brazilian delegation's visit on Thursday was cut short after their minibus was stoned by Maduro supporters and roads were blocked, forcing them to return to the airport and fly back the same day.

Saturday, June 20th 2015 - 08:23 UTC

Brazil's top two construction tycoons arrested in connection to Petrobras case

Odebrecht and Andrade Gutierrez are accused of leading a “cartel” that overcharged Petrobras for work and passed on the excess funds to politicians

Brazilian police arrested on Friday Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, ensnaring the most high-profile executive to date in the corruption investigation at state-run oil firm Petrobras.

Friday, June 19th 2015 - 23:36 UTC

Venezuelan pickets stone and threaten visiting Brazilian senators

Former presidential candidate Aecio Neves described the situation as an aggression saying the vehicle came “under siege” from “protesters”.

Brazilian senators seeking on Thursday to visit jailed opposition leaders in Venezuela said their minibus was stoned and blocked, forcing them to return to the airport. The group of opposition senators had planned to drive from the coastal airport of Maiquetía to the capital Caracas and then on to a military jail where hard-line opposition leader Leopoldo López has been for more than a year.

Thursday, June 18th 2015 - 06:02 UTC

Falklands' makes its debut among Argentine fans in the America Cup

The Argentine fans share with their English counterparts a history of violence and excesses

The America Copa (Cup) currently being played in Chile, and the region's national teams main football competition, has not been without incidents. The one that has attracted most headlines, so far, was the host's leading squad player, Arturo Vidal who went on public television to apologize for drunk driving after crashing his Ferrari.

Tuesday, June 16th 2015 - 06:03 UTC

Brazil's auto industry faces plummeting sales and widespread layoffs

At least 6,000 workers in auto factories have been laid off since January, officials say, and another 20,000 put on furlough

Plummeting auto sales in Brazil amid the country's worst economic situation in a decade have battered the industry that makes up one-fourth of the country's industrial gross domestic product and has led to widespread layoffs and mandatory leaves.

Tuesday, June 16th 2015 - 05:13 UTC

Gas leak forces Petrobras to halt production at offshore platform: second incident in a month

The P-40, located about 175 kilometers off the coast of Rio de Janeiro state, is at the hub of a network of five platforms in Marlim Sul

Brazil's Petrobras halted production on Sunday from its P-40 platform in the offshore Marlim Sul field after a gas leak on the vessel, an oil workers' union and the country's petroleum regulator said on Monday.

Tuesday, June 16th 2015 - 04:47 UTC

Brazil's housing market falling as interest rates rise and the economy slows

Brazil's amazing housing boom appears to be over: house prices in Sao Paulo had soared by 113% (inflation-adjusted) from 2007 to 2013

Brazil's housing market is now declining, amidst subdued economic growth and some civil unrest. In Sao Paulo, house prices dropped 1.2% during the year to Q1 2015, after annual price increases of 0.83% in Q4 2014, 3.29% in Q3 2014, 5.37% in Q2 2014 and 6.71% in Q1 2014

Saturday, June 13th 2015 - 07:59 UTC

Rousseff and Lula da Silva try to convince the party to support austerity measures

“We are here to show that the Workers’ Party is alive and prepared for new challenges. Injured, yes, but alive,” Lula da Silva said.

Brazil's embattled president Dilma Rousseff with the help of her political mentor. Lula da Silva managed on Thursday night to plea support from the ruling Workers Party, WP, delegates for drastic spending cuts designed to restore confidence in Latin America's largest but battered economy.

Friday, June 12th 2015 - 05:05 UTC

Rousseff denies being upset with Argentina over Mercosur and trade policies

“It is very important that Mercosur stays together. Argentina is a great partner, and we have definitely not lost patience with Argentina” said Rousseff

Brazilian President Dilma Rousseff stated on Thursday in Brussels she was not upset by differences with Argentina over the trade agreement Mercosur is to sign with the European Union, despite president Cristina Fernandez administration's cold feet on the issue.

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