Brazil

• Thursday, March 26th 2015 - 09:20 UTC

  Argentina considers Citigroup deal with US Judge Griesa could have violated local law

  

  Argentina's Economy Minister Axel Kicillof said on Wednesday a deal between Citigroup Inc and U.S. judge Thomas Griesa allowing the banking giant to process two Argentine debt payments violated the country's laws.

• Thursday, March 26th 2015 - 09:07 UTC

  Brazil central bank will cease forex intervention program as of April

  

  Brazil's central bank announced on Tuesday it will not extend its currency intervention program past March 31 as a combination of political problems at home and fears of higher U.S. interest rates push the Real near its lowest levels in a decade. The bank will, however, roll over all swaps expiring after May 1.

• Thursday, March 26th 2015 - 08:34 UTC

  Majority of Brazilians favor impeaching President Rousseff; opposition leaders resist the move

  

  A majority of Brazilians favor impeaching President Dilma Rousseff due to the economic slump and a snowballing corruption scandal at state-run oil company Petrobras, according to a poll released this week. But despite calls for Rousseff's ouster and recent street demonstrations against her government, opposition leaders have resisted pushing for impeachment and say it is unlikely.

• Wednesday, March 25th 2015 - 07:35 UTC

  Obama and Rousseff look to improved relations with a visit to the White House

  

  The Obama administration has again invited Brazil's President Dilma Rousseff for a state visit to Washington, a diplomatic breakthrough that both sides hope will lead over time to greater trade between the two biggest economies in the Americas.

• Tuesday, March 24th 2015 - 05:08 UTC

  Brazilian economy on path to biggest contraction since 1990, says central bank survey

  

  Financial experts expect Brazil's economy to shrink 0.83% in 2015, its biggest contraction since 1990, and inflation to climb to 8.12%, its highest level since 2003, according to the results of a Central Bank survey released on Monday.

• Monday, March 23rd 2015 - 17:35 UTC

  Swiss prosecutors have uncovered over 300 accounts suspected linked to Petrobras corruption

  

  Swiss prosecutors have uncovered over 300 accounts at more than 30 Swiss banks that they suspect are linked to the massive corruption and money-laundering scandal at Brazil's state-run oil company Petrobras.

• Monday, March 23rd 2015 - 17:13 UTC

  Petrobras corruption scandal reaches New York court: banks will have to explain sale of bonds to US investors

  

  Fifteen banks will join Petrobras next week, April 3, in a New York court to explain how they did nothing wrong when selling 98 billion dollars worth of the Brazilian state oil company’s bonds to American investors. Of the 15, lawyers representing the investment banking divisions of Itau and Bradesco will appear before New York judge Jed Rakoff in hopes to escape the scandal.

• Monday, March 23rd 2015 - 17:05 UTC

  Petrobras suspends operations in major offshore rig for safety reasons

  

  Brazilian state-controlled oil giant Petrobras on Saturday said it has suspended operations at a major offshore platform, citing safety concerns. The P-58 platform, which extracts 106,000 barrels per day, was taken out of service for unscheduled maintenance and to improve its operational efficiency, the company said in a statement Friday.

• Saturday, March 21st 2015 - 06:43 UTC

  Brazilian prosecutors call for tougher prison sentences and legal power to crack down corruption

  

  Prosecutors who uncovered Brazil's biggest corruption case called for tougher prison sentences and more legal powers to crack down on rampant graft that costs taxpayers more than the annual budget for education and health.

• Saturday, March 21st 2015 - 06:36 UTC

  Brazilian museum receives 139 works of art seized from Petrobras corruption scandal

  

  A Brazilian museum received 139 works of art, including a painting by Joan Miro, seized from individuals involved in the corruption scandal rocking state oil giant Petrobras. Works by Brazilian artists Djanira and Heitor dos Prazeres were among the trove that police delivered to the Oscar Niemeyer Museum in the city of Curitiba.