A regional electoral court in Sao Paulo issued a guilty verdict against interim Brazilian President Michel Temer on election law violation charges, and declared the politician ineligible to run for political office for eight years as a result of having a dirty record.
Former FIFA president and IOC member Joao Havelange has died aged 100. The Brazilian, whose name is one of those used for the track and field stadium for the Rio Games (Estádio Olímpico João Havelange), played a key role in bringing the Olympics to his country. He called on IOC members at the host city vote in 2009 to join me in celebrating my 100th birthday' at the Rio Olympics.
Uruguay's Foreign Minister Rodolfo Nin Novoa said on Monday that he was opposed to the proposal that the Mercosur presidency should be held collectively, as a number of countries are opposed to Venezuela taking over the role. The proposal has been sponsored by Paraguay and Brazil for several weeks, particularly Brazil's Foreign Minister Jose Serra.
Brazil's Ibovespa rose on Monday to the highest level in almost two years as an advance in crude oil lifted the shares of Petrobras while estimates for a faster economic recovery fueled bets on companies that rely on domestic demand.
Brazil's interim President Michel Temer's press office informed on late Monday that he will not attend the closing ceremony of the Rio Olympic Games, which will be held on the evening of August 21 at the world-renowned Maracana stadium.
Inflation in Brazil rose more sharply in July than economists expected, official data showed, raising pressure on the central bank to keep interest rates on hold for some time.
The Brazilian Real weakened further on Friday after interim President Michel Temer showed concern over currency strength, while stocks edged lower following a heavy batch of quarterly results including state controlled oil company Petrobras.
Media exposes Brazil congress 'behind the scenes' plot for a 'corruption amnesty' in the Petrobras case
Brazilian financial newspaper Valor Econômico revealed details of an alleged corruption amnesty currently being discussed by lawmakers who have been accused of alleged involvement in the graft scandal at state oil firm Petrobras.
Brazil's Petrobras reported second-quarter profit that fell by nearly a third from a year earlier, missing expectations as oil prices fell and it took charges for layoffs and the impairment of a refinery. Petrobras said net income fell 30% to 370 million Reais (US$118 million) in the three months ended June 30 compared with a profit of 531 million Reais a year earlier.
Brazil, Argentina and Paraguay are waiting to see what happens on Friday, 12 August, when Venezuela has to prove that it has complied with all the pending requirements to confirm its Mercosur full membership condition dating back to 2012.