Brazil

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.
Thursday, February 5th 2015 - 09:30 UTC
Petrobras new management to be elected on Friday

The chief executive and other senior management at Brazil's Petrobras officially resigned on Wednesday amid a festering corruption scandal, sending shares higher as the government scrambled to find replacements capable of restoring investor confidence in the state-run oil company.
Thursday, February 5th 2015 - 03:26 UTC
Uruguay with Pope's blessing to try new approach to human rights and disappeared persons issues

Uruguay will be attempting a new approach to the human rights and disappeared persons issues, a still unfinished legacy from the military dictatorship, (1973/1984) and the decade of armed sedition which preceded the collapse of the country's democracy. The announcement is expected later this month and basically means replacing “truth and justice” for “truth and memory”, following to a certain extent the South African experience.
Wednesday, February 4th 2015 - 09:17 UTC
Brazil's industrial production contracted sharply in 2014, worst year since 2009

Brazil’s industrial production contracted sharply in December and finished last year with its steepest decline since 2009, as rising interest rates, weak demand and waning confidence from consumers and businesses weighed on output.
Wednesday, February 4th 2015 - 09:09 UTC
Petrobras shares soar 15% ahead of CEO's and senior managers removal

Brazilian President Dilma Rousseff will replace the chief executive and other senior managers at state-run oil company Petrobras later this month in an effort to turn the page on the widening corruption scandal. Petrobras shares jumped more than 15%, their biggest one-day gain in 16 years, after Folha do Sao Paulo first reported that Rousseff intended to replace CEO Maria das Graças Foster.
Tuesday, February 3rd 2015 - 06:49 UTC
Brazil's nominal budget deficit far worse than expected, 6.7% of GDP

Brazil's federal, state and local governments ended 2014 with a cumulative primary budget deficit equivalent to 12.51 billion dollars putting public finances in the red for the first time since the current reporting methodology was adopted in 2001, the Central Bank announced.
Tuesday, February 3rd 2015 - 06:35 UTC
Brazil's Lower House elects as speaker a critic of President Rousseff's policies

Brazil's Congress elected a conservative as speaker of the Chamber of Deputies on Sunday in a setback for the ruling Workers' Party that split President Dilma Rousseff's coalition and will complicate her legislative agenda.
Saturday, January 31st 2015 - 10:44 UTC
Moody's downgrades Petrobras credit rating because of corruption scandal

Moody's Investors Service has downgraded the credit rating of Brazil's state-owned oil company Petrobras because of the widening kickback-corruption scandal affecting the country's largest corporation.The credit rating agency announced its decision late Thursday in a statement posted on its website.
Friday, January 30th 2015 - 08:03 UTC
Petrobras former CEO has assets frozen under court investigation

A Brazilian state court froze the assets of former Petrobras Chief Executive Officer Jose Sergio Gabrielli amid an investigation of graft and money-laundering in the government-run oil producer's contracts with construction companies.