Fears of a slower economic recovery in Brazil could pave the way for heftier rate cuts, the central bank said clearly signaling more aggressive monetary easing ahead as the country's worst recession in memory worsens.
Brazil's federal auditing court (TCU) asked state-controlled oil company Petrobras to temporarily suspend its divestiture program while the court reviews asset sales procedures. The decision could delay Petrobras efforts to raise US$15.1 billion from asset sales by the end of 2016 as a way to reduce its huge debt -- the largest in the global oil industry.
The United States accounting watchdog hit Deloitte's Brazil division with a record US$8 million fine for issuing false audits of a US-traded Brazilian airline and then doctoring papers to thwart an investigation, the agency said.
Brazil’s antitrust body has slapped five banks with fines worth a combined 183.5 million reais (US$ 54 million) for creating a cartel to manipulate exchange rates, official sources announced. CADE, an office in charge of preventing economic abuse, announced that it had hit Barclays, Citicorp, Deutsche Bank, HSBC and JPMorgan Chase with the fines for participating in anti-competitive activities.
Recalculating his route did not become an option for the Italian national Roberto Bardella who was shot and killed by drug dealers, who mistook him for a policeman, after his navigation system led him into the Morro dos Prazeres favela in Rio de Janeiro.
Former Argentine President Cristina Fernandez Kirchner met with former Brazilian president Luiz Inacio Lula da Silva for an hour and a half at the Lula Institute in the São Paulo district of Ipiranga. Both political leaders discussed the situation of their countries and the region, according to a statement from the LI.
Federal prosecutors on Friday filed new criminal charges against Brazil’s former President Lula da Silva for allegedly using his influence for financial gain after he left office. Lula was charged with influence peddling, money laundering and conspiracy.
Brazil and Argentina foreign ministers agreed on Thursday in Brasilia that Mercosur must open to the world and expand its trade horizons, but it will have to be done without Venezuela which has been currently ceased from the block. Jose Serra and Susana Malcorra coincided that Mercosur must speed the trade agreement with the European Union taking advantage of the fact US elected-president Donald Trump has pledged to limit such treaties.
British Secretary of State for International Trade, Dr Liam Fox, and the Brazilian Minister for Industry, Foreign Trade and Services, Marcos Pereira, emphasized the importance of current bilateral cooperation and agreed initiatives on strategic areas to support mutual economic development, during the 9th UK-Brazil Joint Economic and Trade Committee (JETCO) meeting held in Brasília this week.
Brazil's President Michel Temer submitted a crucial bill to Congress that would raise the retirement age to 65. The draft bill, part of a pension reform plan, would apply to all men under 50 and women under 45, following 25 years of contributing to social security.