A federal court sentenced Brazil’s former speaker of the Lower House, Eduardo Cunha, to more than 15 years in prison on Thursday for corruption, making him the highest-profile political conviction yet in the “Operation Car Wash” scandal. The former politician’s defense team said they would appeal the decision but Cunha will remain imprisoned pending appeal.
Brazilian and U.S. officials are in talks about a White House visit by President Michel Temer to discuss bilateral trade and investment issues, according to Planalto sources. U.S. President Donald Trump invited Temer for a visit during a March 18 phone call, when the two leaders discussed deepening commercial and business ties between the Western Hemisphere's largest economies, the sources said.
Worldwide markets have been slamming their doors on Brazilian meat since revelations that rotten product was being sold with faked certificates, but the agriculture minister said Thursday “the worst of the process is over.”
Brazilian President Michel Temer since taking office, in May 2016, has faced one crisis after the other, and now the man who rose to power thanks to an impeachment process of Dilma Rousseff, faces himself the threat of removal from office.
Bigger interest rate cuts are an option for Brazil's central bank, Governor Ilan Goldfajn anticipated, signaling an emphasis on supporting the economy as inflation falls faster than expected. The central bank has lowered its benchmark rate in each of monetary policymakers' four meetings since last October, when it made the first cut in four years. The bank reduced the rate by 25 basis points in each of the first two cuts, followed by two drops of 75 basis points apiece. The rate now stands at 12.25%.
Brazil's planned auction of the rights to expand and operate the North-South railway between Tocantins and Sao Paulo states has drawn the interest of major operators from countries including Russia, China and Spain, a government official said.
Brazil's state-run oil company says it posted a US$4.8 billion loss in 2016 mainly because of a reduction in the value of assets it needs to sell to lower a debt estimated at more than US$100 billion.
Brazil won a major victory as it battles to restore credibility amid a tainted meat scandal, with China, Egypt and Chile lifting their bans on its products. The three countries, which had totally closed their markets to Brazilian meat at the start of last week, said they would open them to all but the 21 Brazilian processing plants under investigation.
Brazilians furious at corruption demonstrated on Sunday in support of a politically explosive probe into high-level embezzlement and bribery, but turnout was lower than at previous protests. The long-planned day of nationwide demonstrations kicked off in the capital Brasilia and Rio de Janeiro, before shifting to the nation's biggest city Sao Paulo.
Jurist Alexandre de Moraes was sworn into office as a Justice in Brazil's Supreme Court on Wednesday. Moraes will fill the seat left by Justice Teori Zavascki, who died in a plane crash in January. Moraes headed the Ministry of Justice when was appointed to the Supreme Court by President Michel Temer. His nomination to the top court was confirmed by the Senate last month. He is expected to take charge of 7,500 cases as he joins the court.