Brazil's central bank announced on Tuesday it will not extend its currency intervention program past March 31 as a combination of political problems at home and fears of higher U.S. interest rates push the Real near its lowest levels in a decade. The bank will, however, roll over all swaps expiring after May 1.
Swiss prosecutors have uncovered over 300 accounts at more than 30 Swiss banks that they suspect are linked to the massive corruption and money-laundering scandal at Brazil's state-run oil company Petrobras.
Fifteen banks will join Petrobras next week, April 3, in a New York court to explain how they did nothing wrong when selling 98 billion dollars worth of the Brazilian state oil company’s bonds to American investors. Of the 15, lawyers representing the investment banking divisions of Itau and Bradesco will appear before New York judge Jed Rakoff in hopes to escape the scandal.
Prosecutors who uncovered Brazil's biggest corruption case called for tougher prison sentences and more legal powers to crack down on rampant graft that costs taxpayers more than the annual budget for education and health.
A Brazilian museum received 139 works of art, including a painting by Joan Miro, seized from individuals involved in the corruption scandal rocking state oil giant Petrobras. Works by Brazilian artists Djanira and Heitor dos Prazeres were among the trove that police delivered to the Oscar Niemeyer Museum in the city of Curitiba.
No end to Brazil's economic woes: the Brazilian currency depreciated 2.7% on Thursday, at 3.30 Reales to the US dollar, its worst performance since April 2003. With this loss of ground the Real cut short a three day recovery, because since last Monday it had been climbing against the greenback.
Brazil's opposition has announced that it will ask the Supreme Federal Court to investigate President Dilma Rousseff for the Petrobras corruption scandal in which her party's treasurer Joao Vacari is also implicated.
Brazil's Dilma Rousseff tried to get ahead of the storm of scandal bearing down on her presidency on Wednesday, unveiling a raft of anti-corruption measures she hopes will appease her critics.
Brazilian President Dilma Rousseff pledged to hold talks with her growing number of critics and said her embattled government needed to show humility, after the Sunday massive protests erupted across the country.
Brazilian prosecutors have formally charged the treasurer of the ruling Workers' Party and 26 others with corruption linked to state-run Petrobras, in the latest blow to President Dilma Rousseff from the widening scandal.