Three executives of Brazil's Camargo Correa group were convicted of money laundering, corruption and other charges, the first construction-industry executives to be sentenced in a giant price fixing and bribery scandal involving state-run oil company Petrobras.
Brazilian President Dilma Rousseff told regional peers on Friday there is no room for anti-democratic adventures in South America, a day after the speaker of Brazil's lower house said he was weighing legal arguments for her impeachment. Speaking to the heads of state of Mercosur, Rousseff said political leaders should strive for dialogue to resolve ideological differences.
Brazil's oil-exploration and local-content policies harm Petrobras and the country as a whole, a government-appointed member of the state-run company's board said on Tuesday. The comments were made by Roberto Castello Branco, who was named earlier this year by President Dilma Rousseff's administration to be one of the government's seven representatives on Petrobras board.
Brazilian police have carried out search operations across seven states amid an ongoing investigation into a major corruption scandal involving state-run company Petrobras. The police said in a statement on Tuesday that the 53 search and seizure operations took place in residences, offices, company headquarters, law firms, and public institutions and were aimed at saving evidence from destruction.
Concerns that Brazil may lose its coveted investment grade credit rating are again on the rise among government officials and investors who worry that President Dilma Rousseff’s austerity push won’t fully offset plunging government revenues.
Brazil's state-run oil producer Petrobras, said in a securities filing on Friday that its motion to dismiss a class-action lawsuit in the United States had been denied by the court. Petrobras said part of the complaint against the company relating to bonds issued in the United States in 2012 was denied.
Investigators with Brazil’s Finance Ministry say they have identified as much as US$16 billion worth of suspicious activity that may be part of a kickback scandal engulfing the state-owned oil company Petrobras.
A raft of Brazilian organizations issued a statement on Monday denouncing what they described as the 'right's' attempts to topple President Dilma Rousseff. The statement was signed by 28 groups including the MST Landless Movement and the Catholic Church's Pastoral Land Commission.
Brazil's leading political commentator and O Globo columnist, Ricardo Noblat is forecasting that president Dilma Rousseff will not conclude her four-year mandate and could very well be out of office by next October.
Brazilian police on Thursday arrested Jorge Zelada, former director of Petrobras' international division, as part of an ongoing investigation into bribery and corruption at the state-run oil producer, prosecutors have said. Zelada is suspected of money-laundering, appropriating public funds, corruption, tax evasion and contract fraud.