Tag: Brazil

• Thursday, May 12th 2016 - 08:37 UTC

  Senate votes to remove Rousseff, but the target number is 54, two thirds of the upper house

  

  A clear majority of Brazil's Senate indicated on Thursday it will vote to put President Dilma Rousseff on trial for breaking budget laws, signaling the end of 13 years of rule by the populist Workers Party in Latin America's largest nation.

• Wednesday, May 11th 2016 - 09:59 UTC

  Rousseff clears her office; full Senate votes to suspend the president

  

  Brazilian President Dilma Rousseff has packed up personal photos and stripped the shelves in her third-floor office in the Planalto presidential palace, a sign she is accepting the loss of her job in a Senate vote on Wednesday.

• Tuesday, May 10th 2016 - 18:31 UTC

  Apologizes to the Brazilian people, and pledges to return US$ 280 million from a major construction contractor

  

  Andrade Gutierrez, the second largest public works contractor in Brazil is to make public an “apology to the Brazilian people” for the illegal actions in the public construction contracts investigated by the Brazilian Federal Police's Lava Jato operation, reports Folha de Sao Paulo.

• Tuesday, May 10th 2016 - 06:56 UTC

  Brazil's political adrift situation shocks markets but is a plum day for speculators

  

  Brazilian markets weakened on Monday after the acting lower house speaker in Brazil's Congress annulled an impeachment vote, though losses were pared as investors bet the move would delay rather than prevent leftist President Dilma Rousseff's removal from office.

• Tuesday, May 10th 2016 - 06:38 UTC

  Brazil's Byzantine politics: clash between senior lawmakers extends power vacuum

  

  Brazil's Senate forged ahead with impeachment proceedings against President Dilma Rousseff on Monday, rejecting a surprise decision by the acting speaker of the lower house, who tried to annul a key vote just days before the president could be suspended from office.

• Tuesday, May 10th 2016 - 06:03 UTC

  Lawmakers planning to remove House acting speaker who annulled Rousseff's impeachment process

  

  Waldir Maranaho's acting speaker post in Brazil's Lower House and his decision to annul the April 17 impeachment procedure vote against Dilma Rousseff, could be on the fire line, and even the countdown, following on fourteen parties decision to impede him from acting, according to Veja, Brazil's leading magazine.

• Monday, May 9th 2016 - 11:29 UTC

  Fitch downgrades Brazil's sovereign debt into junk territory, as political crisis deepens

  

  Fitch Ratings downgraded Brazil's sovereign debt further into junk territory on Thursday, citing a deeper-than-expected economic contraction and changing fiscal targets that have undermined credibility. The agency downgraded Brazil to BB from BB+ with a negative outlook a week before a Senate vote that is expected to lead to the suspension of unpopular leftist President Dilma Rousseff.

• Monday, May 9th 2016 - 11:20 UTC

  JBS denies making illegal payments for Rousseff's campaign in 2014

  

  JBS SA, the world's largest beef producer, denied a Saturday newspaper report that it had made illegal payments for President Dilma Rousseff's 2014 reelection campaign. O Globo newspaper, citing leaked testimony given to federal investigators by Monica Moura, the wife of Rousseff's campaign chief Joao Santana, earlier reported that JBS paid the Rousseff campaign's debt to Focal, a Sao Paulo-based visual communications firm.

• Monday, May 9th 2016 - 11:13 UTC

  Brazilian deputy asks the Supreme Court to block Rousseff's impeachment

  

  The deputy from the ruling Workers’ Party has appealed to Brazil’s Supreme Court in an effort to block the impeachment of President Dilma Rousseff ahead of Wednesday’s Senate vote.

• Monday, May 9th 2016 - 09:04 UTC

  Brazilian prosecutors after another can of worms: the huge development bank

  

  A former Brazilian finance minister and the current head of the nation's state economic and social development bank allegedly pressured big construction firms into making campaign donations for President Dilma Rousseff, a newspaper reported on Sunday. If it proves correct it would be the first concrete lead linking the Petrobras corruption with BNDES, long suspected by Brazilian prosecution.