President Barack Obama and visiting Brazilian President Dilma Rousseff sought Tuesday to cast their nations as natural partners collaborating closely on critical issues like climate and regional diplomacy, glossing over recent tensions over spying that have strained relations between the first and seventh world economies.
U.S. Department of Agriculture's Animal and Plant Health Inspection Service announced Monday that it is amending its regulations to allow imports of fresh (chilled or frozen) beef from (Argentina) and 14 states in Brazil. It's the first step in a process for these regions to gain access to the U.S. market for beef, the APHIS said in a statement.
State-controlled oil giant Petrobras, which is mired in a corruption scandal that has rocked Brazil, said Monday it was cutting investment by 37% during the 2015-2019 period. Investment during the period will now total $130.3 billion, down from the $220.6 billion originally planned, Petrobras said in a filing with the Sao Paulo Stock Exchange.
Brazil's President Dilma Rousseff met Sunday with investors in New York on the first day of a long-delayed US visit aimed at overcoming strains caused by the NSA spying scandal. Revelations two years ago that the US National Security Agency electronically eavesdropped on Rousseff's email and other communications prompted her to angrily call off an official visit to Washington that had been set for October 2013.
Brazil's state-run oil company Petrobras urged a U.S. judge on Thursday to throw out an investors' class action lawsuit claiming a multibillion-dollar bribery scandal overvalued it for years. Speaking at a hearing in federal court in New York, Petrobras lawyer Roger Cooper said the company itself was a victim of the fraud, which he said was orchestrated by a handful of individuals.
The Brazilian Central Bank on Wednesday raised its inflation estimate for 2015 to 9%, or almost double the midpoint in the official range and well above the 6.5% top end target, and said the economy may contract by 1.1% this year, marking the worst performance since 1990.
One of Brazil's leading weekly magazines, Epoca, has revealed that former president Lula da Silva could be investigated over corruption allegations following on the imprisonment of the Odebrecht Group CEO, (Marcelo Odebrecht) which is one of the country's largest private corporations and employers, and for which Lula did much lobbying and sponsoring for public works projects in Dominican Republic, Cuba, Venezuela and Ghana.
Former President Lula da Silva again blasted Brazil's governing Workers Party, an organization he founded, as old and out of touch. We have to define whether we want to save our skins and our jobs or if we want to save our project, Lula da Silva said in Sao Paulo during a seminar on democracy, which he attended along with former Spanish Prime Minister Felipe Gonzalez.
Public support for Brazilian President Dilma Rousseff has slipped to a record low, with her disapproval ratings rising to 65%, according to pollsters Datafolha and published on Sunday. Support for the embattled leader caught by a sliding economy and embroiled in a major graft scandal involving state-owned corporation Petrobras, slumped to 10%.
Economic activity in Brazil fell sharply in April from March, worse than already negative market estimates and showing still more evidence the once-booming economy is heading toward a recession.