Brazil

Brazil
Monday, August 4th 2014 - 07:41 UTC

Trying to gauge the impact of Argentina's situation in Mercosur partners

Hotels and other tourist attractions in Punta del Este are bracing for a slow summer season after Argentina’s refusal to pay holdout bondholders.

Argentina’s debt problems threatens to worsen trade tensions in Mercosur, adding to the economic woes of Brazil in a tense election year and causing headaches in Uruguay as the Argentine economy looks likely to plunge deeper into recession.

Monday, August 4th 2014 - 07:16 UTC

Brazilian auto industry drops 36% in June and drags industrial output

The official excuse is that June/July were the months of the World Cup when many industries gave additional holidays

Brazil's industrial output fell 6.9% in June compared to the same month last year, mostly due to a contraction of the automobile industry, reported the official stats office last Friday.

Saturday, August 2nd 2014 - 08:46 UTC

Brazilian media call Cristina Fernandez, “inept, arrogant and incompetent”

No mercy for Cristina Fernandez and the Marxist professor of populist heterodox economic policies

The leading Brazilian newspapers blasted Argentine president Cristina Fernandez as the sole responsible for the 'default event' which followed the failure of negotiations with holdouts in New York. This despite the fact Brazilian economy minister Guido Mantega denied Argentina was in default and strongly supported the Argentine government.

Saturday, August 2nd 2014 - 08:29 UTC

Brazil's ruling party expels representative for alleged ties with organized crime

Moura was elected representative for the PT in 2010 with 104,705 votes and is running for reelection in the upcoming October elections

Brazil's ruling Workers Party in Sao Pablo decided to expel representative Luiz Moura following his alleged ties to organized crime exposed by a police investigation. Criminal gangs in Brazil are powerful and are known to have connections with the political system.

Saturday, August 2nd 2014 - 08:18 UTC

Rousseff defends industrial policy and economy performance before the sector's lobby

The president pledged tax reform as a priority but admitted it must pass through Congress first

Brazilian President Dilma Rousseff, who hopes to be re-elected for a second term in October’s elections, has defended her government’s industrial policy in front of the sector’s business leaders, the National Confederation of Industry (CNI).

Friday, August 1st 2014 - 14:40 UTC

World Cup helped a higher than expected surge in beer sales in Brazil

AB InBev, which sold more than one in five beers drunk worldwide last year, also took advantage of Brazil's hosting of the soccer tournament

The maker of Budweiser, Stella Artois and Corona beers experienced a sharp surge in sales in Brazil during the World Cup with the month-long contest leading to consumption of an extra 140 million liters or 2 million barrels.

Wednesday, July 30th 2014 - 15:18 UTC

Sao Paulo faces water rationing; in 100 days the system could run dry

The key Cantareira water system, which provides water to some 9 million of the 20 million people metropolitan Sao Paulo city, has less than 16% of its capacity

Federal prosecutors have asked the government of Sao Paulo to present water rationing plans for Brazil's most populous state to prevent the collapse of its main reservoir. If such plans are not presented in 10 days, the prosecutor's office said on its website it may ask courts to force rationing.

Monday, July 28th 2014 - 07:43 UTC

Brazilian Jewish community apologizes to President Rousseff's administration

Israel's Foreign ministry Yigal Palmor called Brazil a 'diplomatic dwarf” and politically irrelevant

Brazil’s Jewish community apologized to the administration of Brazilian President Dilma Rousseff for statements by the spokesman of Israel’s foreign ministry after Brazil recalled its envoy over the Gaza conflict.

Saturday, July 26th 2014 - 06:24 UTC

Santander apologizes to President Rousseff for leaking 'political bias' comments

The report said that ”the (Brazil) economy would worsen if President Rousseff’s chances of being re-elected stabilized or improved”

Banco Santander Brasil SA, apologized for a note sent to some of its high-income clients in Brazil saying the economy would worsen if President Dilma Rousseff’s chances of being re-elected stabilized or improved.

Saturday, July 26th 2014 - 06:18 UTC

Brazilian auto industry putting workers on paid leave as production plummets 10%

General Motors put 940 workers at the same factory on paid leave in 2012, and the union said 598 of them were later fired

General Motors Co wants to put nearly a fifth of its workers at a factory in Brazil on paid leave, an auto workers union said this week, amid falling output in Latin America's largest economy.

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