Brazil

• Saturday, March 7th 2015 - 07:41 UTC

  Petrobras corruption: Supreme Court approves investigation of 54 politicians

  

  Brazil's Supreme Court late Friday approved an investigation of dozens of top politicians, including a former president and leaders of congress, for alleged connections to what they call the biggest graft scheme ever uncovered in the country which has the largest economy in Latin America.

• Saturday, March 7th 2015 - 07:37 UTC

  February inflation in Brazil at 7.7% is at its highest level since May 2005

  

  Inflation jumped in Brazil on February with price increases hitting an annual rate of 7.7%, the highest in nearly nine years, officials said on Friday. The national statistics institute IBGE said prices rose 1.22% in February, pushing inflation well above the government's target ceiling of 6.5%.

• Friday, March 6th 2015 - 08:44 UTC

  The Brazilian currency slides past three to the dollar, fist time since 2004

  

  Brazil's currency, the Real slid past three to the dollar (3.01) for the first time in 10 years on Thursday, in the latest sign of weakness of Latin America's largest economy.

• Friday, March 6th 2015 - 07:22 UTC

  Argentina denies any devaluation to compensate for the plunge of Brazil's Real

  

  Despite Brazil's 'violent devaluation' of its currency, Argentina will not pursue the same path because the country needs “to give certainty” and “avoid instability” said Economy minister Axel Kicillof. This week the Real plunged to its lowest level in over a decade burdened by economic and political uncertainty

• Thursday, March 5th 2015 - 08:23 UTC

  US Judge names lead plaintiff in class-action lawsuit against Petrobras

  

  A U.S. federal judge on Wednesday named a trustee of a British pension fund as the lead plaintiff in a class-action lawsuit against Brazil's state-run oil company Petrobras and its top executives.

• Thursday, March 5th 2015 - 08:17 UTC

  Brazil raises benchmark interest to 12.75%, highest level since 2009

  

  Brazil’s central bank raised its benchmark interest rate to 12.75% Wednesday, the highest level since 2009, as it struggles to get price increases under control amid sluggish economic growth and deepening political turmoil.

• Thursday, March 5th 2015 - 07:11 UTC

  Rousseff faces a revolt in Congress from her ruling coalition main ally

  

  Brazilian President Dilma Rousseff, (and her political mentor Lula da Silva), raced on Wednesday to defuse a rebellion by legislators upset about her budget austerity plans and her handling of a corruption scandal at state-run oil company Petrobras, which now threatens political stability.

• Wednesday, March 4th 2015 - 06:14 UTC

  Brazil's currency at its weakest since September 2004...and sliding

  

  The Brazilian Real reached on Tuesday its weakest level against the dollar in more than 10 years, amid concern the country’s political and economic situation is growing worse.

• Wednesday, March 4th 2015 - 05:38 UTC

  Petrobras corruption: top prosecutor hands the Supreme Court names of 54 politicians

  

  Brazil's top prosecutor Rodrigo Janot asked the Supreme Court on Tuesday to open an investigation into 54 politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petrobras a Supreme Court spokesperson said on Tuesday.

• Tuesday, March 3rd 2015 - 06:17 UTC

  Truckers strike in Brazil still disrupting traffic in several states; soy harvest delayed

  

  Striking truck drivers resumed some roadblocks in Brazil on Monday even as the government cracked down on protesters and promised to implement a law to lower toll costs and give other benefits to the transport sector.