Brazil

Friday, February 13th 2015 - 09:13 UTC
Snail growth in Brazil's 2014 retail sales anticipate a very tough 2015

Retail sales in Brazil increased 2.2% in 2014 over the previous year, the smallest expansion in 11 years, the Brazilian Institute for Geography and Statistics, or IBGE, reported this week. The sector suffered its worst year since 2003 when sales tumbled 3.7%. In 2013, retail sales grew 4.3%.
Friday, February 13th 2015 - 04:13 UTC
Brazilian congress ignores Rousseff's call for spending cuts

Brazil's Congress passed legislation on Tuesday that limits the president's ability to reduce pork-barrel spending passed by lawmakers, a setback for President Dilma Rousseff's efforts to fight a fiscal deficit.
Thursday, February 12th 2015 - 20:57 UTC
Argentina and Brazil admit trade disagreements between Mercosur main partners

Argentina and Brazil failed to reach an agreement to help unlock the ongoing tension between the two key Mercosur allies over bilateral trade. Argentina's Hector Timerman and his counterpart Mauro Vieira met in Buenos Aires to try and ease Brazil’s growing concerns about restrictions on the flow of goods, but any decisions were pushed forward to an undetermined date.
Thursday, February 12th 2015 - 05:55 UTC
Petrobras CEO says he has 'full autonomy' in fuel-price policy and cash flow

The new chief executive officer of Brazil's Petrobras said that he has full autonomy to dictate its own fuel-pricing policy and protect cash, even as he questioned the size of losses stemming from a giant corruption scandal.
Thursday, February 12th 2015 - 05:45 UTC
Petrobras has trouble finding an independent chairman of the board

Petrobras plans to publish its delayed audited fourth-quarter results by the end of March, something it needs to do to avoid possible early repayment of its bonds, the Globo newspaper said on Wednesday. Globo also published that the Brazilian government was considering appointing Planning minister Nelson Barbosa as chairman of the oil giant.
Thursday, February 12th 2015 - 05:23 UTC
Explosion in Petrobras floating oil rig kills at least three; six missing

At least three oil workers were killed and others were injured in an explosion at an offshore oil and natural gas platform in Brazil operated by state-run energy company Petroleo Brasileiro SA , union officials have said.
Monday, February 9th 2015 - 17:34 UTC
Food, housing and transportation prices accelerate January inflation in Brazil

Brazil's consumer price inflation accelerated in January, putting the 12-month rate well above the central bank's tolerance band and at the highest level since September 2011, underscoring one of the main challenges facing Latin America's largest economy in the year ahead.
Monday, February 9th 2015 - 12:43 UTC
Dengue cases 'explode' by 57% in Brazil during January

Dengue cases in Brazil rose by 57% in January, an increase that the Brazilian government partially attributed to the water crisis in the country's southeastern region. In the first four weeks of the year, Brazil registered 40,196 cases of dengue, compared with 26,017 in the same period of 2014, the Brazilian Health Ministry said.
Friday, February 6th 2015 - 23:27 UTC
Market reacts negatively to Petrobras new CEO: too political and too close to Rousseff

Shares in Brazil's oil giant Petrobras plunged Friday as banking executive Aldemir Bendine, who is seen as too close to President Dilma Rousseff's party, was named the scandal-hit firm's new chief executive.
Friday, February 6th 2015 - 06:57 UTC
Brazil ruling party's treasurer questioned on the Petrobras corruption probe

Brazilian federal police said on Thursday they had started questioning João Vaccari Neto, the treasurer of the country's ruling Workers' Party, as a corruption probe focused on state-run oil company Petrobras widened to include political figures.