Brazil's Vale, the world’s largest iron ore and nickel miner said on Monday it will sell most of its fertilizer business to US-based Mosaic Co., the No.1 producer of phosphate fertilizer, in a deal worth about US$2.5 billion.
Another major clash between Brazil's Supreme Court and Congress in the making. Justice Luiz Fux ruled to return the anti-corruption bill back to its initial stages in the Lower House, despite the fact the fill had already reached Senate and was preparing to put the bill to a vote.
Brazil's oil company Petrobras has agreed to sell its 49% stake in the sugar and ethanol joint venture Nova Fronteira Bioenergia SA to partner São Martinho SA, both companies said in securities filings on Thursday. Petrobras will receive 24 million new São Martinho shares as payment for the stake. Petrobras said in the filing that it will attribute a US$133 million value to the deal.
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.
Brazilian President Michel Temer on Thursday unveiled a raft of stimulus measures to reduce the debt burden of businesses and consumers struggling with the country's worst recession on record amid growing popular discontent. Although limited in scope, the measures aim to appease Brazilians angry at the deepening recession in Latin America's biggest economy and allegations of corruption against Temer and his closest allies.
Brazil's President Michel Temer called U.S. President-elect Donald Trump agreeing to work together to improve business relations between the two largest economies in the Americas, a statement from Temer's office said. Brazil is keen to explore business opportunities that could open up if Trump follows through on campaign promises to rewrite a trade deal with Mexico.
One of Brazilian President Michel Temer's closest aides resigned on Wednesday following allegations he had received graft money from engineering conglomerate Odebrecht in a widening corruption scandal that is besieging the government.
The government of President Nicolas Maduro government closed the border with Brazil for 72 hours for the same reason it had taken the same measure with Colombia: money smuggling, Brazilian local authorities and residents of southern Venezuela who routinely cross to Brazil where they can make transactions in bolivars confirmed.
The Brazilian government authorized airlines operating in the country to charge for passengers luggage, among other rules that are scheduled to become effective on 14 March 2017. The new rules were approved unanimously and made public on Tuesday by the country's air transport regulator National Civil Aviation Agency, ANAC.
President Michel Temer, fighting for survival over corruption allegations against him and his government, is planning new measures to jump start Brazil's stalled economy, improve his dismal approval ratings and stifle calls for his resignation.