Tag: Workers' Party (Brazil)

• Wednesday, January 13th 2016 - 07:59 UTC

  Former Petrobras manager states in plea-bargain that Lula was aware of the corruption scheme

  

  Former head of Petrobras' international sector Nestor Cervero has made a statement as part of his plea bargain, in which he says that Brazilian former president Lula a Silva gave him a job in 2008 as “recognition” for his help in repaying a R$12 million (US$3 million) loan considered fraudulent by police.

• Monday, January 4th 2016 - 07:09 UTC

  Brazil's Rousseff faces Olympic political and financial challenges this year

  

  Brazilian President Dilma Rousseff began the new year on the offensive declaring the impeachment proceedings she faces as “unfair” and overruling by veto more than 50 amendments made by lawmakers to the nation’s budget, including reductions to her flagship Bolsa Familia social program.

• Saturday, December 19th 2015 - 02:40 UTC

  Close friend of Lula da Silva formally charged in the Petrobras corruption case

  

  The sprawling Petrobras corruption scandal web is again close to former president Lula da Silva, this landowner Jose Carlos Bumlai, arrested during Operation Lava Jato, was charged with corruption, money laundering and fraud.

• Thursday, December 3rd 2015 - 08:41 UTC

  Brazil political crisis escalates: Congress initiates impeachment proceedings against president Rousseff

  

  The speaker of Brazil's lower house of Congress, Eduardo Cunha has announced plans to open impeachment proceedings against President Dilma Rousseff, allegedly on violation of fiscal legislation. In practical terms this means further political upheaval in the months ahead in a country that has been rocked by the steepest recession in 25 years, job losses, and a corruption scheme of planetary proportions in oil giant Petrobras.

• Thursday, November 26th 2015 - 08:23 UTC

  Brazil in shock: a leading senator and billionaire fund manager arrested for obstructing justice

  

  Brazil is in shock following the arrest by police on Wednesday of a senior ruling-party senator and a billionaire investment banker in the intensifying probe of a huge corruption network centered on state oil giant Petrobras.

• Tuesday, November 17th 2015 - 09:19 UTC

  Rousseff again confirms Levy as (austerity) minister despite complaints from the ruling party

  

  Brazilian President Dilma Rousseff jumped to the defense of her embattled finance minister saying she would not be pressured into sacking him. Rousseff, fighting to save her second term presidency from threatened impeachment proceedings, said she was ignoring suggestions by the head of her own Workers' Party (PT) that Joaquim Levy should be dismissed.

• Thursday, November 12th 2015 - 08:16 UTC

  Brazilian ex-central bank orthodox president is back on stage called by Lula da Silva

  

  Brazil's former central bank chief Henrique Meirelles said on Wednesday he was not invited to take over the finance ministry and insisted the government needs to push ahead with unpopular austerity measures to pull the economy out of recession.

• Wednesday, November 4th 2015 - 23:02 UTC

  Brazil's industrial output falls for a fourth straight month in September; 10.9% in twelve months

  

  Brazil's industrial output fell for a fourth straight month in September as automakers, metal producers and other manufacturers were hit by a worsening recession, government data showed on Wednesday. This follows the Brazilian central bank's announcement on Tuesday that the economy in 2015 would shrink over 3% with inflation almost at 10%.

• Wednesday, November 4th 2015 - 08:07 UTC

  Brazilian construction tycoon sentenced to 19 years in prison for Petrobras corruption scandal

  

  The federal judge handling the Petrobras corruption cases sentenced the former vice president of Brazilian engineering firm Mendes Junior to 19 years and four months in prison for his role in the massive kickback scheme.

• Monday, November 2nd 2015 - 08:26 UTC

  Lula urges ruling party to support austerity measures and minister Levy

  

  Former Brazilian president Lula da Silva urged the ruling Workers' Party to back fiscal austerity measures in Congress, endorsing the efforts of Finance Minister Joaquim Levy to plug a gaping deficit. Members of Lula's party have opposed moves by Lula's protégée, President Dilma Rousseff, to cut public spending and social benefits as she strives to balance overdrawn accounts and restore investor confidence in Brazil.