Stories for May 9th 2016

Monday, May 9th 2016 - 11:29 UTC
Fitch downgrades Brazil's sovereign debt into junk territory, as political crisis deepens

Fitch Ratings downgraded Brazil's sovereign debt further into junk territory on Thursday, citing a deeper-than-expected economic contraction and changing fiscal targets that have undermined credibility. The agency downgraded Brazil to BB from BB+ with a negative outlook a week before a Senate vote that is expected to lead to the suspension of unpopular leftist President Dilma Rousseff.
Monday, May 9th 2016 - 11:20 UTC
JBS denies making illegal payments for Rousseff's campaign in 2014

JBS SA, the world's largest beef producer, denied a Saturday newspaper report that it had made illegal payments for President Dilma Rousseff's 2014 reelection campaign. O Globo newspaper, citing leaked testimony given to federal investigators by Monica Moura, the wife of Rousseff's campaign chief Joao Santana, earlier reported that JBS paid the Rousseff campaign's debt to Focal, a Sao Paulo-based visual communications firm.
Monday, May 9th 2016 - 11:13 UTC
Brazilian deputy asks the Supreme Court to block Rousseff's impeachment

The deputy from the ruling Workers’ Party has appealed to Brazil’s Supreme Court in an effort to block the impeachment of President Dilma Rousseff ahead of Wednesday’s Senate vote.
Monday, May 9th 2016 - 11:04 UTC
Former first lady of East Germany, nicknamed the Purple Witch, dies in Chile

A small funeral was held in Chile Saturday for Margot Honecker, the widow of former East German leader Erich Honecker. A steely politician in her own right, the 89-year-old died of cancer in the capital Santiago on Friday.
Monday, May 9th 2016 - 09:17 UTC
S&P raises Argentina's credit rating, but warns about the 40% inflation

Argentina’s credit rating was raised to B- from selective default by S&P Global Ratings, which cited the country’s payment last Thursday of $2.7 billion of past-due interest on bonds in default since July 2014.
Monday, May 9th 2016 - 09:04 UTC
Brazilian prosecutors after another can of worms: the huge development bank

A former Brazilian finance minister and the current head of the nation's state economic and social development bank allegedly pressured big construction firms into making campaign donations for President Dilma Rousseff, a newspaper reported on Sunday. If it proves correct it would be the first concrete lead linking the Petrobras corruption with BNDES, long suspected by Brazilian prosecution.
Monday, May 9th 2016 - 07:33 UTC
Massive protest in Comodoro Rivadavia against the oil industry weak activity

More than 50,000 workers blocked the centre of Comodoro Rivadavia, in Argentina's Patagonia main oil-producing region in a protest against layoffs. Striking oil workers were joined by teachers, truck drivers, builders and other sectors in the demonstration.
Monday, May 9th 2016 - 07:14 UTC
Jobs, layoffs and severance payment at the heart of Argentina's public debate

Unemployment and jobs are in the heart of public debate in Argentina. A public opinion poll released last week revealed that 48.3% of Argentines fear he/she or a relative might lose their jobs in the next six months.