Brazil's economy sank further into recession in the first quarter, contracting 5.4% relative to the same three-month period of last year, the government said Wednesday. Compared with the final quarter of 2015, the economy shrank by 0.3%, according to the state-run Brazilian Institute for Geography and Statistics, or IBGE.
Brazilians have become increasingly disappointed with politics and their elected politicians, according to an Ibope Intelligence opinion poll collecting reactions to the current political situations, which has a suspended president, Dilma Rousseff; an interim leader Michel Temer, and a divided Congress.
The Brazilian government posted a primary budget surplus in April well above market expectations due to a seasonal increase in tax revenues and a drop in subsidies, a senior official said on Monday. The government, which is struggling to lift the economy out of a deep recession, posted a primary budget surplus of 9.751 billion reais (US$2.72 billion) in April.
Little Michel, the 7-year-old son of Brazil’s Acting President Michel Temer, has already proven he is far more mature than his years might suggest. A few weeks ago, he was responsible for choosing the new government's logo – when he saw it, he said “pretty.” Now, we know that the wunderkind has a few investments of his own.
Brazilian interim president Michel Temer's government has suffered a new blow when his anti-corruption minster resigned on Monday after leaked recordings showed him trying to squash a massive corruption scandal that has ensnarled the country's political and business elite.
Suspended President Dilma Rousseff said in an interview published Sunday that leaked audio recordings of men backing her impeachment show the effort to oust her is meant to stop a wide-ranging corruption probe that has implicated numerous leading Brazilian politicians and businessmen.
Ex Brazilian president Lula da Silva regrets having handpicked suspended president Dilma Rousseff as his political heiress, according to a taped conversation leaked to the media. In the audio between former president Jose Sarney and Sergio Machado, a former head of Transpetro, a state-run natural gas company, who is believed to have entered a plea bargain with the prosecution, the two men comment on Lula's confession.
Petrobras will finally get its day in a U.S. court on Sept. 19 in a trial that pits 18 former executives and 13 investment banks, including J.P. Morgan Securities, against U.S. and U.K. investors. Claimants are seeking “tens of billions of dollars” in losses from the Brazilian oil and gas giant.
More than 100 health experts have called for the Rio Olympic Games to be postponed or moved because of fears that the event could speed up the spread of the Zika virus around the world, according to a public letter published online.
Former Argentine dictator Reynaldo Bignone and 14 other ex-military officials were found guilty by an Argentine court on Friday of conspiring to kidnap and assassinate leftist dissidents as part of the Operation Condor program. Bignone, 88, the highest ranking figure on trial, was sentenced to 20 years in jail. Fourteen of the remaining 16 defendants got eight to 25 years behind bars. Two were found not guilty.