Brazil

Wednesday, December 2nd 2015 - 10:45 UTC
Brazilian economy contracts a record 4.5% in the last twelve months

Brazil's economy, in recession since mid-year, contracted 1.7% in the third quarter, compared to the April-June period, and decreased 4.5% relative to the same period in 2014, the Brazilian Institute of Geography and Statistics, or IBGE, said on Tuesday.
Wednesday, December 2nd 2015 - 09:28 UTC
China and Brazil agree on further cooperation and on climate change

Chinese President Xi Jinping and Brazil's Dilma Rousseff met in Paris on the sidelines of the ongoing climate talks, and agreed to strengthen cooperation in a number of areas including a common position regarding global warming.
Tuesday, December 1st 2015 - 07:45 UTC
Brazil on alert on possible link between Zika virus and micro-cephalic babies

Brazilian health authorities, who alerted the nation Monday to the rapid spread of the Zika virus, confirmed that up to now it has caused one death and that another six victims are in critical condition and under medical examination.
Tuesday, December 1st 2015 - 07:35 UTC
Brazil's economy expected to further contract, according to the Central bank

Analysts expect Brazil's economy to contract by 3.19% this year, with inflation hitting 10.38%, the Central Bank said Monday. GDP and inflation estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Tuesday, December 1st 2015 - 07:32 UTC
Petrobras board chairman resigns; apparent disagreements with CEO Bendine

Murilo Ferreira has resigned as chairman of Brazilian state oil company Petrobras, the firm said Monday. Ferreira, the CEO of mining giant Vale, took a leave of absence in September and Luiz Nelson Guedes de Carvalho, who has served as interim chairman since then, will continue in that role for the moment, the company said in a brief statement.
Sunday, November 29th 2015 - 09:51 UTC
Brazil plans to sue mining companies US$ 7.2bn on toxic mud spill

Brazil's federal and state governments plan to sue the owners of the Samarco iron ore-miner for 20 billion Reais ($7.2 billion) in damages caused by the burst of a tailings dam, Environment Minister Izabella Teixeira told reporters on Friday.
Sunday, November 29th 2015 - 09:10 UTC
South American football association revolving door at full steam

The head of Brazilian football, Marco Polo del Nero, has finally bowed to the pressure and agreed to resign from FIFA's Executive Committee after being a no-show for the last six months amid fears he could be caught up in the burgeoning corruption scandal.
Friday, November 27th 2015 - 11:07 UTC
Australia's BHP denies UN report on 'toxic' mine spill from collapsed dam in Brazil

Australian mining giant BHP says mud spilled by the devastating collapse of a dam at a Brazilian mine is not toxic. On Thursday the UN said the dam burst at the Samarco mine unleashed a flood equivalent to “20,000 Olympic swimming pools of toxic mud”.
Friday, November 27th 2015 - 07:55 UTC
Brazilian banks follow closely events in Argentina: Dollar at 12 Pesos

Brazilian banks which follow closely events in Argentina and prospects of the new government under president Mauricio Macri, believe the official exchange rate of 9.67 Pesos to the dollar will inevitably have to be devalued, to 12 Pesos by the end of the year, which means a 24% depreciation.
Thursday, November 26th 2015 - 16:57 UTC
In a split vote, Brazil's central bank leaves Selic rate unchanged; pressure for an increase

Brazil's central bank kept interest rates on hold for the third straight meeting on Wednesday in a split vote that shows policymakers are uneasy about inflation, a worsening recession which might lead to a raise in rates early in 2016.