Brazil

• Wednesday, July 12th 2017 - 06:38 UTC

  Boost for Temer: Congress approves overhaul of Brazil's labor laws

  

  The Brazilian Senate gave final congressional approval to an unpopular overhaul of the country's labor laws on Tuesday night, providing crucial political support to embattled President Michel Temer as he fights a damaging corruption accusation.

• Tuesday, July 11th 2017 - 07:53 UTC

  “Sufficient evidence” of involvement in corruption to try president Temer

  

  A key Brazilian lawmaker argued Monday that President Michel Temer should be suspended from office and put on trial in the country's highest court on a corruption charge.

• Tuesday, July 11th 2017 - 07:47 UTC

  Meirelles confident Brazil is climbing out of worst recession in history

  

  Speaking during the G20 summit in Hamburg, Germany, Henrique Meirelles gave more details about Brazil's economic recovery trajectory.

• Monday, July 10th 2017 - 06:54 UTC

  Brazilian political system admits “hollowed out” president Temer could soon be removed

  

  Congressional support for Brazilian President Michel Temer is weakening, lawmakers said, days before the lower house is expected to vote on whether he should stand trial on a corruption charge. Temer, whose conservative government’s approval rating is languishing in single digits, is clinging to power after being charged with arranging to take millions of dollars in bribes, the first sitting Brazilian president to face such criminal proceedings.

• Saturday, July 8th 2017 - 23:32 UTC

  Brazil plans to overhaul power market to eliminate money losing subsidiaries

  

  Brazil has announced plans to overhaul the power market which could lead to higher rates and rid the state controlled Electrobras utility of money losing subsidiaries.

• Saturday, July 8th 2017 - 10:12 UTC

  Canning House to host round table with UK ambassadors from Southern Cone

  

  British Ambassadors to the Southern Cone countries, Argentina, Brazil, Uruguay and Chile will be attending Canning House to give round-table briefings on their experiences since their recent appointments to their respective posts. They will present the latest political, economic and business updates from those countries and answer any questions during the closed round-table session.

• Saturday, July 8th 2017 - 09:41 UTC

  Brazilian government prunes the corruption investigation “Operation Car Wash”

  

  Brazil's federal police announced late Thursday that they are shutting down the primary task force assigned to a jumbo corruption investigation, drawing criticism from prosecutors who said it would undermine the probe. The investigation, known as “Operation Car Wash,” is Brazil's largest-ever corruption probe. It has jailed top politicians and business executives and led to allegations against President Michel Temer.

• Friday, July 7th 2017 - 07:01 UTC

  Temer's defense and allies working for a quick end to political uncertainty

  

  Embattled Brazilian President Michel Temer quickly presented his legal defense against corruption allegations to lawmakers, a move seen as a bid to reduce the likelihood of being suspended from office and tried at the Supreme Court. Temer's lawyer submitted the defense on the second day of Chamber of Deputies commission proceedings to consider the matter, eight days ahead of deadline.

• Thursday, July 6th 2017 - 19:16 UTC

  Chinese company will exploit energy resources in Brazil

  

  Petrobras announced that it signed a memorandum of understanding with the China National Petroleum Corporation (CNPC) to exploit energy resources in Brazil and abroad. In the statement, Petrobras said that the deal will allow the two state oil companies to benefit from each other's capacity and experience in oil and gas production.

• Thursday, July 6th 2017 - 10:17 UTC

  Soybeans and corn record crops challenge Brazil's storage capacity

  

  Brazilian farmers are discovering a serious obstacle to becoming one of the world’s top producers of soybeans: they’re running out of room to store all the unsold supply. The biggest harvest in the country’s history is poised to leave domestic inventories at a record, data from the processors’ group Abiove show.