Brazil

Thursday, November 26th 2015 - 08:23 UTC
Brazil in shock: a leading senator and billionaire fund manager arrested for obstructing justice

Brazil is in shock following the arrest by police on Wednesday of a senior ruling-party senator and a billionaire investment banker in the intensifying probe of a huge corruption network centered on state oil giant Petrobras.
Thursday, November 26th 2015 - 08:18 UTC
Poor report on Rousseff's performance from Brazil's central bank forecast

Analysts expect Brazil's economy to contract by 3.15% this year and 2.01% in 2016, the Central Bank reported. The gross domestic product (GDP) estimate comes from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Wednesday, November 25th 2015 - 08:41 UTC
A rancher close to Lula da Silva arrested on Petrobras corruption probe

Brazilian authorities working on the country’s huge Petrobras corruption probe arrested Jose Carlos Bumlai, a rancher reportedly close to powerful former president Luiz Inacio Lula da Silva.
Monday, November 23rd 2015 - 08:42 UTC
Brazil job losses accelerated during October; 1.4 million in twelve months

Job losses in Brazil accelerated in October to the fastest pace so far this year as the country's political and economic crisis continues to worsen. Brazil's economy lost a net 169,131 payroll jobs in October, the Labor Ministry reported, up from 95,602 layoffs in September.
Saturday, November 21st 2015 - 08:01 UTC
Petrobras back to normal activity as splinter union ends 20-day strike

Earlier on Friday a key Petrobras workers union voted to end a 20-day strike that disrupted output. Workers at the Sindipetro Norte Fluminense local, who had ignored the largest oil workers' union FUP's call to end the strike that started on November first, will return to work Friday evening at onshore operations, union spokesman Tezeu Bezerra.
Friday, November 20th 2015 - 10:16 UTC
BHP Billiton and Vale face civil lawsuit of US$ 3.69bn over dam collapse in Brazil

A BHP Billiton and Vale joint venture in Brazil is facing its first civil lawsuit over the dam collapse at its iron ore mine on November 5 that buried a town and contaminated the region's main river.
Friday, November 20th 2015 - 09:44 UTC
Brazilian economic activity contracts for the fourth straight quarter

Economic activity in Brazil contracted for the fourth straight quarter, central bank data showed this week as Latin America's biggest economy plunges further into recession. The bank's IBC-Br economic activity index indicates economic activity fell 1.41% in the third quarter from the previous three months.
Friday, November 20th 2015 - 07:36 UTC
Brazil considering plan to bolster Petrobras capital with 'hybrid securities'

Brazil’s government is considering a debt plan to bolster the capital of heavily indebted state-controlled oil Petrobras, Agencia Estado news agency reported on Thursday. Under the plan, the Brazilian Treasury would transfer so-called hybrid securities to Petrobras, which would then book the securities as equity until it sold new stock, Estado reported.
Friday, November 20th 2015 - 05:48 UTC
UK Export Finance extends US$ 500m credit to debt-strapped Petrobras

Brazil's oil company Petrobras has concluded negotiations with international export credit agencies (ECAs) for a total of US$1.84bn. According to a company statement. The financing will contribute towards its fundraising efforts for 2016.
Thursday, November 19th 2015 - 07:49 UTC
Rousseff's just manages to uphold vetoes on spending bills; greater challenge in the pipeline

Brazil's Congress has upheld President Dilma Rousseff's vetoes of two bills to raise public spending, a victory for the embattled leader as she tries to close a gaping fiscal deficit and regain investors' confidence.