Brazil

Friday, February 5th 2016 - 08:27 UTC
Recession biting in Brazil: record net savings withdrawals in January

Net savings withdrawals in Brazil rose to a record high in January, with deposit outflows exceeding inflows by 12.03 billion Reais (some $3.09 billion), the Central Bank said Thursday.
Friday, February 5th 2016 - 07:46 UTC
Brazil's 'corrupt' government hurting business and agriculture, says Agco CEO

Brazil's “corrupt” government is hurting the country's business sector, including in agriculture, the head of one of the world's biggest tractor-makers said. Martin Richenhagen, chairman and CEO of Agco, manufacturer of Fendt, Massey Ferguson and Valtra machinery, claimed he tried, and failed, to persuade Brazil's government to speed up the payment of agriculture support programs used by farmers for funding equipment purchases.
Friday, February 5th 2016 - 07:41 UTC
Brazil: health workers can enter private properties to crush Zika breeding grounds

Brazilian president Dilma Rousseff implemented a nationwide mandate this week allowing government health workers to enter private properties to crush Zika breeding grounds. Exterminators now have the right to inspect and disinfect households, even without the presence of its owners.
Friday, February 5th 2016 - 07:17 UTC
Lula da Silva included in criminal investigation involving bribes

Brazil's federal police have included former President Luiz Inácio Lula da Silva in an investigation into the possible use of bribes to influence the passage of legislation benefiting the auto sector, a court document showed on Thursday.
Wednesday, February 3rd 2016 - 07:10 UTC
Chilean football fans vandalize Malvinas memorial in Rosario: 46 arrests

Two of the 46 Chileans arrested on Monday for vandalism against a Malvinas Fallen Monument in Argentina's second largest city, Rosario, were still waiting on Tuesday for the prosecutors' charges before going before a federal judge. During the first hearing, advised by a government supplied lawyer, the Chileans abstained from making any statement while demanding to be set free.
Wednesday, February 3rd 2016 - 07:04 UTC
Harsh time for Rousseff in Congress: booing and threats of more difficulties

Brazilian Congress gave on Tuesday a harsh welcome to President Dilma Rousseff at its yearly inaugural session, booing her and threatening new “difficulties” added to the turbulent relations that prevail between the executive and legislative branches.
Wednesday, February 3rd 2016 - 06:55 UTC
Brazil factories and mine production plunges 8.3% in 2015, with little prospects of change in the short term

Industrial output in Brazil fell for a seventh straight month in December, capping the worst year for manufacturers in more than a decade as they struggle with inflation, high interest rates and political uncertainty.
Wednesday, February 3rd 2016 - 06:15 UTC
Brazil airline shares soar as regulator admits opening to foreign capital

Brazilian airline shares soared nearly 30% on Monday after a newspaper report said the government may scrap limits on foreign ownership of domestic airlines to attract investment to the struggling sector. President Dilma Rousseff may propose legislation giving her discretion to let foreign groups own as much as 100% of local airlines, up from 20%, Valor Econômico reported.
Monday, February 1st 2016 - 05:34 UTC
Lula and wife summoned to testify as suspects into money-laundering scheme

Brazil's Attorney General’s Office of Sao Paulo summoned former socialist president Luiz Inácio Lula da Silva to testify as a suspect in a investigation into money-laundering in the latest phase of the ongoing Petrobras corruption scandal.
Saturday, January 30th 2016 - 13:11 UTC
Petrobras plans to slash 30% of management jobs in non-operating areas

As Brazil struggles with a corruption scandal in which executives and politicians face investigations of alleged bribery, Brazil’s state-run oil company Petrobras announced it will slash management jobs as part of an efficiency drive approved by its board of directors.