Tag: Brazil

• Tuesday, October 13th 2015 - 07:13 UTC

  Pacific Alliance members outstand in Latin American performance, says IMF

  

  Brazil is still by far the largest economy in Latin America despite its recession and the impact of the devaluation of the Real, according to the latest report from the International Monetary Fund (IMF), which said Venezuela dropped to the position of the region’s seventh-largest economy with a GDP that’s now half the size of Colombia’s.

• Tuesday, October 13th 2015 - 07:00 UTC

  Brazilian recession begins to hit US companies profits and shares

  

  Agricultural giant FMC is the latest company to warn about operations in Brazil and now the stock is crashing. On Monday the $5 billion agricultural company announced that it would lay off 800-850 people — saving the company about $150 million a year by 2017 — while also cutting its profit outlook for the third quarter and all of 2015.

• Saturday, October 10th 2015 - 07:24 UTC

  Rousseff fears “Paraguay-style democratic coup” to remove her from office

  

  President Dilma Rousseff said in a closed-door meeting that Brazil is experiencing a “Paraguayan-style democratic coup,” alluding to the 2012 removal of Paraguay's then-head of state, the Folha de Sao Paulo newspaper reported Friday.

• Saturday, October 10th 2015 - 07:11 UTC

  Opposition will push for impeachment proceedings against Rousseff next week

  

  Brazil opposition lawmakers will push for impeachment proceedings to begin next week against embattled President Dilma Rousseff, local media reported Friday. It comes after the country’s top audit court, the TCU, ruled that the government’s 2014 accounts had been manipulated in the run-up to last year’s presidential elections to give a better impression of the economy and sustain spending on social programs.

• Thursday, October 8th 2015 - 18:51 UTC

  Brazilian congress again exposes President Rousseff's political weakness

  

  Brazil's Congress on Wednesday postponed for a fourth time voting on whether to overrule President Dilma Rousseff's vetoes of two spending bills in a defeat for her government as it scrambles for support to rebalance overdrawn public accounts.

• Thursday, October 8th 2015 - 12:14 UTC

  Rousseff closer to impeachment: government accounting practices 'illegal' says Accounts Court

  

  Brazil's President Dilma Rousseff suffered a major new setback Wednesday when a court ruled that her government's accounting practices were illegal, handing ammunition to opponents threatening impeachment proceedings. The decision by the Federal Accounts Court or TCU was the latest blow to Rousseff, less than a year into her second term.

• Thursday, October 8th 2015 - 12:08 UTC

  Brazil's inflation eases in September but still too close to two digits

  

  Inflation in Brazil has eased for second consecutive month, which takes some pressure of the central bank to hike rates further. The Real has also gained pace last month after the central bank promised to do whatever it takes to stem the Brazilian currency's slide. The Real has strengthened to 3.84 per dollar after touching new all-time high of 4.247 per dollar only a couple of weeks ago.

• Wednesday, October 7th 2015 - 10:28 UTC

  Brazil's top electoral court will investigate Rousseff's reelection campaign for alleged 'irregularities'

  

  Brazil's top electoral authority ruled on Tuesday there are grounds to investigate irregularities in President Dilma Rousseff's re-election campaign last year. The TSE electoral court voted 5-2 on the decision. It is seeking to determine whether Rousseff and Vice President Michel Temer abused their power while in office to run the campaign, and whether illegal money was used as funding.

• Wednesday, October 7th 2015 - 10:21 UTC

  Brazil's September auto production down 42.1% compared to a year ago

  

  Brazil’s auto industry produced 174,200 units last month, down 19.5% from August and a whopping 42.1% from September 2014, the national Association of Car Manufacturers, or Anfavea, said on Tuesday.

• Tuesday, October 6th 2015 - 13:02 UTC

  Debt-overwhelmed Petrobras cuts further capital spending plans for this year and 2016

  

  Petrobras struggling with the biggest debt load among global oil firms, on Monday cut $11 billion from capital spending plans for this year and next as Brazil's currency and oil prices slump. Petrobras plans to cut 2015 investment by 11% to $25 billion from the previous $28 billion, according to a statement.