Brazil's federal police have opened a preliminary investigation into alleged irregularities in President Dilma Rousseff's re-election campaign last year. According to the media office of the federal police, the probe was opened on 7 October, following a decision by Justice Gilmar Mendes from the Superior Electoral Court to look into allegations of wrongdoing by the Rousseff campaign.
President Dilma Rousseff has broken the law and must step down so that Brazil can recover its legal bearings, the author of a key impeachment petition said. Helio Bicudo, a 93-year-old lawyer who was a high-ranking member of Rousseff's ruling Workers' Party, said in an interview that Brazil must return to “the rule of law.”
Brazilian ex-President Lula da Silva, who allegedly used his influence to aid a leading domestic engineering group after leaving office, voluntarily testified on Thursday before federal prosecutors during an hour and a half, his foundation said.
Finance Minister Joaquim Levy has not resigned and will stay in his post, Brazil's government said on Friday, denying a media report that he planned to step down in a dispute over austerity measures. A finance ministry spokeswoman told reporters that Levy continues to work and is committed to improve the country's future.
Fitch Ratings cut Brazil's credit rating to the brink of junk, warning the country could soon lose its coveted investment grade rating as government finances deteriorate amid a prolonged recession and persistent political uncertainty.
Petrobras announced a further hydrocarbon discovery at the giant pre-salt Libra field in the Santos basin, offshore Brazil. The company said that well 3-BRSA-1310-RJS, in the central portion of the block, identified the presence of hydrocarbons in a low-porosity reservoir. This is the fourth well drilled in the Libra area since exploratory drilling began last August.
Brazilian President Dilma Rousseff has accused her opponents of trying to overthrow a democratically elected government by seeking to oust her without any material facts while spreading hatred and intolerance across the country.
Brazil's state-run oil firm Petroleo Brasileiro SA will raise $2 billion through a 10-year leasing contract with China's Industrial and Commercial Bank of China Leasing, the Brazilian company said in a statement on Tuesday.
Brazilian President Dilma Rousseff won a temporary reprieve on Tuesday from threatened impeachment thanks to a Supreme Court intervention and her principal opponent's decision to hold off for now on opening proceedings.
Brazil is still by far the largest economy in Latin America despite its recession and the impact of the devaluation of the Real, according to the latest report from the International Monetary Fund (IMF), which said Venezuela dropped to the position of the region’s seventh-largest economy with a GDP that’s now half the size of Colombia’s.