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  • SAO PAULO— Federal prosecutors on Friday filed corruption, racketeering and money laundering charges against Jose Dirceu, Brazil's former presidential chief of staff, for his alleged involvement in the massive corruption scheme at state-owned oil company Petrobras. Sixteen other people were also charged, including Joao Vaccari Neto, the former treasurer...

  • BRASILIA, Sept 3- The Brazilian government dismissed market rumors on Thursday that Finance Minister Joaquim Levy was quitting because of disagreements over his austerity plan. Brazil's currency rebounded from 12- year lows on news that Levy was staying in the job and attending a budget meeting with President Dilma Rousseff. The budget bill, sent to Congress...

  • Brazil's currency rebounded from 12- year lows on news that Levy was staying in the job and attending a budget meeting with President Dilma Rousseff. The budget bill, sent to Congress on Monday, was Brazil's first-ever to forecast a primary deficit, highlighting Levy's failure to shore up federal accounts to save the country's investment-grade rating.

  • SAO PAULO— A federal judge Thursday accepted the charges filed by prosecutors against the former head of Eletronuclear, the state-owned company that operates Brazil's two nuclear power plants, for his suspected role in a bribery scandal. Judge Sergio Fernando Moro said in a statement that he also accepted the charges filed against 14 others, including Flavio...

  • BRASILIA, Sept 3- Brazilian Finance Minister Joaquim Levy on Thursday canceled his trip to the G20 summit in Turkey to meet with President Dilma Rousseff about a 2016 budget bill later in the day, two government officials told Reuters. Brazil's currency rebounded from 12- year lows on the news, firming 0.6 percent in afternoon trading. Planning Minister Nelson...

  • BRASILIA, Sept 2- Brazil's central bank halted one of the world's boldest rate-hiking cycles on Wednesday, taking pressure off an economy struggling with recession even amid concerns that a looming budget crisis could stoke inflation. "What happened in the last 10 days is that there was an increase in uncertainty, but apparently they thought best to wait and see...

  • BRASILIA, Sept 2- Brazil's President Dilma Rousseff criticized ride-sharing software Uber on Wednesday for increasing unemployment, adding to a chorus of labor concerns about the world's most valuable venture-backed start-up. Rousseff said local authorities must regulate the service, which has led conventional taxi drivers to stage protests and lobby...

  • BRASILIA, Sept 2- Brazilian President Dilma Rousseff criticized ride-sharing app Uber on Wednesday for adding to unemployment, but she said each city had to decide how to deal with the service that has riled conventional taxi drivers. Brazil's three major cities Sao Paulo, Rio de Janeiro and Brasilia have all moved to ban the mobile app developed by Uber...

  • SAO PAULO— Odebrecht, Brazil's biggest construction company, has been convicted of submitting workers to slave-like conditions at a sugar and ethanol plant being built in Angola, prosecutors said Wednesday. The statement said that Odebrecht lured Brazilian workers to Angola where subsidiaries based in the African country forced them to work without...

  • BRASILIA, Sept 2- Brazil is likely to halt one of the world's most aggressive rate-hiking cycles on Wednesday, sparing more suffering to a contracting economy despite fears a deepening fiscal crisis could keep inflation high. Still, President Dilma Rousseff's inability to plug a widening fiscal deficit that threatens Brazil's investment-grade rating is...

  • UPDATE 1-Brazil's factory output tumbles in July Wednesday, 2 Sep 2015 | 9:00 AM ET

    BRASILIA, Sept 2- Brazilian industrial output sank at a much steeper pace than expected in July, portraying a deeper recession after a string of interest rate increases, tax hikes and spending cuts by President Dilma Rousseff's government. Industrial production in Brazil fell 1.5 percent in July from June, the sharpest rate of decline since the beginning of the...

  • Brazil poised to end rate hikes as economy sinks Wednesday, 2 Sep 2015 | 1:00 AM ET

    BRASILIA, Sept 2- Brazil is likely to halt one of the world's most aggressive rate-hiking cycles on Wednesday, sparing more suffering to a contracting economy despite fears a deepening fiscal crisis could keep inflation high. Still, President Dilma Rousseff's inability to plug a widening fiscal deficit that threatens Brazil's investment-grade rating is...

  • SAO PAULO— Police on Tuesday asked prosecutors to file charges against Brazil's former presidential chief of staff, Jose Dirceu, for alleged involvement in the massive corruption scheme at state-owned oil company Petrobras. Dirceu is the most senior member of the ruling Workers' Party to be taken into custody in connection with the scheme.

  • SAO PAULO, Sept 1- The former chief executive of Brazil's nuclear power company was formally charged on Tuesday with accepting bribes in a corruption scheme to loot federal utility Eletrobras by the same kind of overbilling and bribery that occurred at state-run oil company Petrobras. The investigation first focused on price-fixing, bribery and...

  • SAO PAULO— Brazil's federal prosecutor's office filed formal corruption charges on Tuesday against the former head of Eletronuclear, the state-owned company that operates Brazil's two nuclear power plants, for his suspected role in a bribery scandal. The prosecutor's office said in a statement that it charged Othon Luiz Pinheiro da Silva with money...

  • BRASILIA, Aug 31- The Brazilian government on Monday revised its primary budget forecast for next year from a surplus to deficit, increasing pressure on a rebellious Congress to help shore up finances that threaten the country's investment-grade rating. Planning Minister Nelson Barbosa said the country can reverse a deficit "with measures that need to be...

  • SAO PAULO, Aug 31- Brazilian Vice President Michel Temer on Monday expressed profound concern over the government's budget forecast of a primary budget deficit next year, warning that such a shortfall could cost Brazil its s investment-grade credit rating. President Dilma Rousseff's government is to unveil the 2016 budget before Congress later on Monday.

  • These are the bright spots in EMs: Mobius Sunday, 30 Aug 2015 | 11:14 PM ET
    These are the bright spots in EMs: Mobius

    Despite China's slowdown, there are glimmers of opportunities in emerging markets like India, says Mark Mobius, executive chairman at Templeton Emerging Markets Group.

  • BRASILIA, Aug 30- Renan Calheiros took an Air Force jet to get hair implants and was accused of letting a lobbyist pay child support to a journalist he had an affair and a child with. Either episode would have derailed many politicians but corruption allegations have not kept Calheiros, the 59- year-old president of Brazil's Senate, from making himself a go-to...

  • CAMPOS DO JORDÃO, Brazil, Aug 29- Finance Minister Joaquim said on Saturday he now favors reviving an old tax on financial transactions to cope with Brazil's fiscal crunch in a slumping economy, and warned that without new taxation the country could face a crisis like Greece's. Many economists believe Brazil will not see signs of a recovery until well into 2016..