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  • SAO PAULO— Police in Brazil have arrested former presidential chief of staff Jose Dirceu, the most senior member of the ruling Workers' Party to be taken into custody in connection with corruption at the state-owned oil company Petrobras. Dirceu served as former president Luiz Inacio Lula da Silva's chief of staff between 2003 and 2005. He was arrested on...

  • CURITIBA, Brazil, Aug 3- Brazilian federal police on Monday arrested former government minister Jose Dirceu, one of the most senior members of the ruling Workers' Party to be detained so far in a corruption scandal engulfing state-run oil company Petrobras. Federal prosecutor Carlos Fernando dos Santos Lima called Dirceu a key instigator of the Petrobras...

  • CURITIBA, Brazil, Aug 3- Brazil's federal police on Monday arrested former government minister Jose Dirceu, one of the most senior members of the ruling Workers' Party to be jailed so far in a probe of alleged corruption at state-run oil company Petrobras. Federal prosecutor Carlos Fernando dos Santos Lima said during a press conference that Dirceu was one of the...

  • BRASILIA, Aug 3- Brazil's federal police on Monday arrested former government minister Jose Dirceu, ensnaring the most senior member of the country's ruling party yet in a massive investigation into alleged corruption at state-run oil company Petroleo Brasileiro SA. Police will hold a press conference at 10 a.m. Brasilia time to provide further details.

  • BRASILIA, July 31- Brazil's antitrust regulator CADE and federal prosecutors signed a leniency deal on Friday with engineering company Camargo Correa aimed at obtaining evidence of alleged price-fixing of contracts to build a nuclear power plant. Camargo Correa was the first of Brazil's construction firms to have its top executives convicted of...

  • Brazil's Petrobras receives more than $20 million Friday, 31 Jul 2015 | 11:44 AM ET

    RIO DE JANEIRO— Brazil's state-owned oil company has received the equivalent of more than $20 million that was recovered as a result of an investigation into a corruption-kickback scandal engulfing Petrobras. The Federal Prosecutor's Office says in a statement that 69 million reals were returned to Petrobras on Friday. The statement says the amount...

  • BRASILIA, July 31- Two senior executives at Brazil's state-run power company Centrais Eletricas Brasileiras SA told Reuters on Friday that they had requested leave as a corruption investigation sweeps the country's largest electric utility. Valter Cardeal, head of generation at the holding company known as Eletrobras, and Adhemar Palocci, head of planning...

  • SAO PAULO, July 30- Brazilian planemaker Embraer SA said on Thursday it will delay development of a military cargo jet and forgo $300 million of revenue this year due to Brazil's weaker currency and defense spending cuts, triggering the biggest drop in its shares in nearly four years. Embraer now plans to deliver its first KC-390 cargo aircraft to the Brazilian...

  • RIO DE JANEIRO, July 30- Vale SA, the world's biggest iron ore producer, returned to profit in the second quarter, bolstered by higher output and cost cuts as it kept up pressure on Australian rivals in its fight for market share. A big part of the improved result was a reduction in cash costs, with Vale lowering its cost of producing a tonne of iron ore to $15.8 per tonne,...

  • RIO DE JANEIRO, July 30- Vale SA, the world's biggest iron ore producer, returned to profit in the second quarter, bolstered by higher output and cost cuts as it kept up pressure on Australian rivals in the fight for market share. A big part of the improved result was a reduction in cash costs, with Vale lowering its cost of producing a tonne of iron ore to $15.8 per tonne,...

  • RIO DE JANEIRO, July 30- Vale SA, the world's biggest iron ore producer, returned to profit in the second quarter, bolstered by higher output and cost cutting and keeping up pressure on Australian rivals in the fight for market share. A big part of the improved result was a reduction in cash costs, with Vale lowering its cost of producing a tonne of iron ore to $15.8 per...

  • BRASILIA, July 29- Finance Minister Joaquim Levy's role as Brazil's dominant economic policymaker is slipping as he tries to push through unpopular austerity measures aimed at saving the country's investment grade rating. To make things worse, Standard& Poor's on Tuesday threatened to strip Brazil of its coveted investment-grade rating, raising pressure...

  • SAO PAULO, July 29- Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S. Paulo reported on Wednesday. Former President Luiz Inacio da Silva's government agreed in 2008 to purchase five submarines, including a...

  • Brazil police arrest 2 for alleged bribery scheme Wednesday, 29 Jul 2015 | 12:46 PM ET

    The Federal Prosecutor's Office says in a statement that police on Tuesday detained Othon Luiz Pinheiro da Silva, president of Eletronuclear, a subsidiary of Brazil's electric utilities company, Eletrobras. According to the prosecutor's office, Silva, who is on leave as Eletronuclear's chief executive officer, received 4.5 million reals in bribes from...

  • BRASILIA, July 29- Finance Minister Joaquim Levy's role as Brazil's dominant economic policymaker is slipping as he tries to push through unpopular austerity measures aimed at saving the country's investment grade rating. To make things worse, Standard& Poor's on Tuesday threatened to strip Brazil of its coveted investment-grade rating, raising pressure...

  • SAO PAULO, July 29- Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S. Paulo reported on Wednesday. Former President Luiz Inacio da Silva's government agreed in 2008 to purchase five submarines, including a...

  • BRASILIA, July 29- Brazil's central bank was poised to maintain its aggressive pace of interest rate hikes on Wednesday after a steep cut in fiscal savings targets weakened the real currency and stirred doubts about the government's commitment to help contain price increases. The Brazilian real has slid nearly 4 percent against the U.S. dollar to its weakest...

  • BRASILIA, July 29- Brazil's central bank is widely expected to raise its policy interest rate on Wednesday after a steep cut in fiscal savings targets weakened the real currency and stirred doubts about the government's commitment to help contain price increases. Standard& Poor's threat on Tuesday to strip Brazil of its coveted investment-grade rating in...

  • *Protesters block Codelco mine access roads across Chile. SANTIAGO, July 28- A week-long strike by Codelco contract workers in Chile briefly stopped work at its second-largest copper mine on Tuesday, as Codelco Chief Executive Officer Nelson Pizarro negotiated with companies that employ the striking workers. Its small Salvador mine, which produced 54,000...

  • S&P revises Brazil's outlook to negative Tuesday, 28 Jul 2015 | 2:14 PM ET

    SAO PAULO— Standard& Poor's Ratings Services said on Tuesday it has revised the outlook for Brazil's foreign-currency debt from stable to negative. The ratings agency said in an emailed statement that it has kept Brazil's BBB- long-term foreign-currency sovereign credit rating and the country's BBB+ long-term local-currency sovereign credit rating.