Brazil

Brazil
Saturday, August 15th 2015 - 07:27 UTC

Massive protest turnout on Sunday could decide Brazilian president's future

This will be the year's third mass protest against Rousseff, who is facing growing calls for her impeachment. A strong showing could help support her ouster.

Hundreds of thousands of angry of citizens are expected to take to the streets of more than 114 Brazilian cities on Sunday as allegations of corruption and incompetence swamp the government, and plummeting commodity prices sap its economy, posing a key test for President Dilma Rousseff.

Saturday, August 15th 2015 - 07:08 UTC

Twenty people killed overnight in Sao Paulo, in what seems rogue police vengeance

Alexandre de Moraes, head of the Sao Paulo security department, announced the death tally after media reports of deliberate massacre in the suburbs

A least twenty people were killed and seven injured in a wave of Thursday/Friday overnight shootings in Brazil's biggest city, Sao Paulo, some of them gunned down in cold blood as they sat in a bar.Alexandre de Moraes, head of the Sao Paulo state security department, announced the death tally -- originally placed at 20 -- Friday after media reports of a deliberate massacre in the suburbs, possibly by rogue police.

Friday, August 14th 2015 - 09:23 UTC

Political ally who can save Rousseff from impeachment wants Brazil out of Mercosur

Calheiros, president of the Senate belongs to the largest party in Brazil and main coalition ally of the ruling Workers Party, from president Dilma Rousseff

Renan Calheiros, president of the Brazilian Senate, and the man who could help President Dilma Rousseff avoid impeachment in Congress, has proposed a package of measures to rescue Brazil from its current stagflation, but among his demands is “an end to the customs union of Mercosur”.

Thursday, August 13th 2015 - 07:32 UTC

Rousseff gets an extra 15 days to explain she did not doctor public accounts

The Federal Accounts Court granted extra time and could delay until September whether to reject or approve Rousseff's handling of the budget last year.

President Dilma Rousseff got an extra 15 days on Wednesday to respond to allegations that she doctored public accounts last year, delaying a decision by a court that could pave the way for the populist leader's impeachment.

Thursday, August 13th 2015 - 03:40 UTC

Political accord in Brazil to implement 27 market-friendly measures

The “Brazil Agenda” proposed by Senate President Renan Calheiros was discussed at a key dinner the embattled Rousseff hosted for coalition senators

President Dilma Rousseff and leading Brazilian senators are preparing a joint set of major reforms that seek to introduce an agenda of market-friendly proposals, in a move one senior official says is an effort to counter a revolt by lawmakers in the Lower House.

Wednesday, August 12th 2015 - 08:06 UTC

Brazil's subsalt could hold enough petroleum to supply the world five years

Brazil's Polygon contains at least 176bn barrels of undiscovered, recoverable resources of oil and natural gas, according to an INOG study

Brazil's Subsalt Polygon, the offshore area that has already yielded some of the world's largest recent oil finds, may hold enough undiscovered petroleum and gas to supply the world's current oil needs for more than five years, researchers said.

Wednesday, August 12th 2015 - 07:30 UTC

Moody's tough on Brazil but also confident on a mid term growth rebound

Latin America’s largest economy has the ability to achieve a turn-around in growth and fiscal performance in the second half of Rousseff’s four-year term

Moody’s Investors Service cut Brazil’s credit rating to near-junk status on Tuesday but said the country’s coveted investment grade status is safe for now, proving some relief to investors and the government of President Dilma Rousseff.

Saturday, August 8th 2015 - 10:42 UTC

Petrobras profits plunge 89% in 2Q; underperforming assets dumped

Petrobras' quarterly profit fell to 531 million Real ($150.4 million) from 4.96 billion Real a year ago, the company said in a securities filing on Thursday.

Brazilian state-led oil company Petrobras said its second-quarter net income plunged 89% after a one-time charge for underperforming assets that caught analysts off guard. The 1.28-billion-real charge was taken as Petrobras' new executives and board of directors try to control the company's $132 billion debt, the oil-industry's largest, by preparing up to $15bn of assets for sale by the end of 2016.

Saturday, August 8th 2015 - 09:20 UTC

Brazil's July inflation climbed to 9.56%, powered by electricity bills, up 57.8%

Inflation remains well above the central bank's target of 4.5% despite seven consecutive interest rate hikes -- most recently to 14.25%.

Brazil's annual inflation rate climbed to 9.56% in July, the highest level since 2003, official data showed Friday. Prices are being driven higher by the rising cost of electricity -- up 57.8% in the past 12 months -- as well as increasingly expensive housing, food and beverages, and health care.

Friday, August 7th 2015 - 08:17 UTC

Countdown for Dilma: two thirds of Brazilians support impeachment; 16 August 'D' day

The public opinion poll showed Rousseff is the most unpopular democratically elected president since the end of Brazil's military dictatorship in 1985.

Brazilian President Dilma Rousseff's approval ratings have struck rock bottom with nearly seven out of ten Brazilians in favor of having Congress begin impeachment proceedings against the beleaguered leader of Latin America's largest economy, according to the latest opinion poll release. A nationwide rally calling her for resignation is planned for August 16.

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