The government of Brazil’s interim president Michel Temer said on Wednesday it would propose to lawmakers a constitutional amendment to cap public spending increases for at least 10 years.
Brazil's congressional ethics committee voted to strip suspended Speaker Eduardo Cunha of his seat for allegedly lying about undeclared Swiss bank accounts, the latest in a series of political earthquakes to rock Latin America's largest country.
Brazil is considering an emergency loan to aid, as many have called it, the broken state of Rio de Janeiro, according to two senior federal government officials. News reports said the federal loan would be shared with Rio Grande do Sul, and Minas Gerais states, where employees and pension beneficiaries are not getting paid.
Brazil's interim president Michel Temer has been linked to one of the country's biggest corruption scandals in testimony by a key witness made public Wednesday. . Sergio Machado, former chief executive of state oil company Petrobras, said that Temer had asked for money from the company to fund political campaigns for himself and other members of his party.
Brazil's Supreme Court has rejected a request by the nation’s Attorney General to arrest three senior members of acting President Michel Temer’s party in connection with the massive corruption investigation focused on Petrobras.
International Olympic Committee president Thomas Bach said on Tuesday he was “happy” with interim Brazilian president Michel Temer's commitment to the Rio Games, following his first meeting with the host country's new leader.
Domestic supplies of corn and soybeans will be tighter than expected in the United States as problems with crops in Brazil and Argentina have raised demand for U.S. supplies from overseas buyers, the U.S. Agriculture Department. In its latest monthly supply and demand report, the government cut its new-crop and old-crop ending stocks outlooks for both corn and soybeans by more than analysts had forecast.
Petrobras’s oil production in Brazil averaged 2.16 MMboe/d in May, its fifth highest monthly figure to date. The growth was due mainly due increases from the company’s pre-salt fields, with new wells connected to the FSPO Cidade de Maricá serving the Lula field in the Santos basin.
Scientists have found dangerous drug-resistant “super bacteria” off beaches in Rio de Janeiro that will host Olympic swimming events and in a lagoon where rowing and canoe athletes will compete when the Games start on August 5.
Brazil's fiscal accounts were in worse shape than initially thought after the suspension of Dilma Rousseff, underscoring the challenge facing the country's new economic team, acting President Michel Temer said.