Brazil's state-run oil company says it posted a US$4.8 billion loss in 2016 mainly because of a reduction in the value of assets it needs to sell to lower a debt estimated at more than US$100 billion.
Brazil's president Michel Temer and senior lawmakers were unwavering in their support for a major pension reform on Wednesday despite nationwide protests against the proposal and the dramatic expansion of a graft probe threatening the ruling coalition.
Brazil's former president has appeared in court to deny allegations he was part of a plot to obstruct a massive corruption probe by keeping a former Petrobras executive from revealing what he knew. News media websites in Brazil published Tuesday's testimony by Lula da Silva, who told a federal court in Brasilia that he didn't even know Nestor Cervero, a former director of the State oil company.
A multilateral group of officials will jointly investigate the extent of corruption stemming from the Odebrecht bribery case. Following a meeting on February 16, executives from the public prosecution offices of Argentina, Brazil, Chile, Colombia, the Dominican Republic, Ecuador, Mexico, Panama, Peru, Portugal and Venezuela agreed to work together to fully investigate bribes alleged to have been paid to high-ranking officials across Latin America and beyond.
A Brazilian judge reinstated the nomination of a top ally of President Michel Temer to a ministerial post, but ruled he could not receive the legal protections other high-ranking politicians enjoy.
The offices of Mossack Fonseca, the law firm at the centre of the Panama Papers leak, were raided on 9 February as part of an ongoing investigation into Brazil's biggest corruption scandal, the so called Operation Carwash (Lava Jato in Portuguese) involving the state-run oil company Petrobras.
Brazil's Supreme Court named a new justice on Thursday to oversee cases against politicians caught in a giant corruption probe after the previous judicial point man was killed in an airplane crash.
Brazilian prosecutors on Thursday filed corruption charges against Decal do Brasil co-founder Mariano Marcondes Ferraz, accusing him of bribing a former executive at state-run oil company Petrobras to win contracts for Ferraz's own firm.
New corruption charges linked to Brazil's massive embezzlement scheme at Petrobras oil company were filed on Thursday against former president Lula da Silva, prosecutors said. A judge will now have to decide whether Lula, whose spokesman called the charges invented, should face trial.
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.