Brazil’s top labor court on Thursday ruled in favor of workers at Petrobras in a wage dispute that could cost the world’s most indebted oil company up to 17 billion Reais (US$ 4.5 billion). Petrobras may still appeal the Superior Labor Court’s ruling in the case, brought by oil workers seeking more pay.
Brazilian federal judge Sergio Moro has summoned ex president Lula da Silva for questioning next 11 September in a case related to reforms made in a camp house, Sitio Santa Barbara, in Atibaia, Sao Paulo state and which was frequently used by the Lula da Silva family.
Brazil’s move to ease rules forcing oil producers to buy from domestic suppliers means Latin America’s top producer will be able to sustain output of 5 million barrels per day (pbd) by the mid-2020s, compared to just 3.7 million bpd under prior rules, consultancy Wood Mackenzie said in a report on Wednesday.
Brazil’s central bank has unveiled details of a newly-developed block-chain platform that will be used to facilitate information exchange between the country’s financial regulators. Dubbed ‘Pier’, the block-chain was developed by the Banco Central do Brasil (BCB)’s own IT department and will be used to share data securely between the central bank and other domestic regulators, BSB, said in an announcement.
Brazil’s central bank kept interest rates unchanged on Wednesday, as expected, refraining from hiking even after a sharp currency slide as policymakers highlighted the unclear impact of a nationwide protest by truckers in late May.
Ex president Lula da Silva is serving a 12-year sentence for corruption in Curitiba, but as all Brazilians loves football, the national sport, and has been contracted as a commentator for the World's Cup in Russia.
Uruguay will be handed the rotating chair of Mercosur this Monday in a brief summit ceremony to take place in Paraguay. Attending will be Brazil's Michel Temer, Uruguay's Tabare Vázquez, the host Paraguay Horacio Cartes and in representation of Argentina, vice president Gabriela Michetti. President Mauricio Macri is in the midst of a cabinet reshuffle and waiting for market reaction this Monday following the naming of a new Central Bank chairman.
Brazilian President Michel Temer has denied charges that he instigated the payment of hush money to former Chamber of Deputies Speaker Eduardo Cunha, a Planalto statement said. The statement was made after the Federal Police delivered the final report of the investigations into a fraud scheme in credit released by state-owned bank Caixa from 2011 to 2013.
Ex Brazilian president Lula da Silva might be in prison, but that has not stopped a Brazilian TV station from hiring him as a World Cup commentator. “This is not a joke,” said Jose Trajano, who hosts the daily program at the Sao Paulo-based VTV network on which Lula, who was in office from 2003 to 2010, is talking about the competition.
A Datafolha survey shows that the all-time high unpopularity of Brazilian President Michel Temer (MDB) is due essentially to dissatisfaction with the overall performance of his administration, particularly regarding the economy. It also shows that the president's personal image and the loss of status caused by corruption scandals that involve him are secondary issues.