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Politics Dilma Rousseff

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  • 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...

  • BRASILIA/ SAO PAULO, July 30- Brazil announced another cut to education spending on Thursday, the latest step back from President Dilma Rousseff's pledge to turn the Latin American giant into an "education nation" in her second term. Brazil will reduce the amount it spends on education by 1 billion reais this year as part of a round of budget cuts announced last week,...

  • BRASILIA, July 29- Brazil raised interest rates to a nine-year high on Wednesday, but signaled it was ending one of the world's most aggressive tightening cycles despite fears that a weakening local currency could stoke already high inflation. Standard& Poor's threat on Tuesday to strip Brazil of its investment-grade rating also raised pressure on the bank to...

  • BRASILIA, July 29- Brazil raised interest rates to a nine-year high on Wednesday, but signaled one of the world's boldest tightening cycles is over despite fears a weaker local currency could boost already high inflation. Before the meeting the central bank came under pressure to press ahead with the aggressive rate-hiking cycle started in October as...

  • 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- 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...

  • 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.

  • The statement, which sent Brazil's currency tumbling, is a setback to Finance Minister Joaquim Levy's efforts to win back investor confidence in the country's economy, Latin America's largest, now in recession. S&P affirmed Brazil's credit rating of BBB-minus, the agency's lowest investment grade rating, and revised the outlook on that rating to negative...

  • S&P cuts Brazil's outlook to negative from stable Tuesday, 28 Jul 2015 | 12:31 PM ET

    July 28- Standard& Poor's cut its ratings outlook on Brazil to' negative' from' stable', saying the country is still facing political and economic challenges despite a significant policy correction during President Dilma Rousseff's second term.

  • The arrests come as federal police follow allegations that a price-fixing, bribery and political kickback scheme they discovered at Petrobras extends to other state-led firms, including Eletrobras, Brazil's largest utility. Federal prosecutor Athayde Ribeiro Costa told journalists that police also had arrested Andrade Gutierrez executive Flavio...

  • CURITIBA, Brazil, July 28- Brazilian police on Tuesday arrested two people involved in building a nuclear power plant for Brazil's Eletrobras, pulling the state-led utility holding company into a giant corruption scandal surrounding state-run oil company Petrobras. The arrests come as Brazil's Federal Police and federal prosecutors follow allegations...

  • BRASILIA, July 27- Brazil's largest party is standing by deeply unpopular President Dilma Rousseff for now despite the defection of one of its own leaders, but that could change if an expected recession stirs up social unrest, party leaders say. Eduardo Cunha, speaker of the lower house of Congress, broke off ties with Rousseff and wants his Brazilian Democratic...

  • Marcelo Odebrecht, the third-generation chief executive of the family-run Brazilian conglomerate Odebrecht SA, was charged with corruption, money laundering and criminal conspiracy. They will seek 6.7 billion reais in damages from Odebrecht SA, Dallagnol said. Marcelo Odebrecht's personal ties to former Brazilian President Luiz Inácio Lula da Silva...

  • July 24- Prosecutors and federal police in Brazil unearthed the country's largest-ever corruption scandal by tying a ring of black-market money changers to a price-fixing and political kickback scheme at state-run oil firm Petrobras. Executives from two dozen engineering firms are accused of inflating the value of service contracts and funneling the...

  • CURITIBA, Brazil, July 24- Brazilian prosecutors will present formal charges on Friday against the chief executive of Latin America's largest engineering firm and other senior executives detained last month in a landmark investigation meant to show the country's elite are not above the law. Marcelo Odebrecht, the third-generation chief executive of the...

  • CURITIBA, Brazil, July 24- Brazilian prosecutors will present formal charges Friday against the chief executive of Latin America's largest engineering firm and other senior executives detained last month in a landmark investigation meant to show the country's elite are not above the law. Top executives of Brazil's second-largest engineering firm...

  • BRASILIA, July 22- Brazil dramatically lowered its fiscal savings goals for 2015 and 2016 on Wednesday, due to plunging tax revenues, and announced new spending cuts to underscore its commitment to austerity amid a steep economic downturn. The agencies have warned they may further downgrade Brazil, a move which could undermine investor confidence and raise...

  • GENEVA, July 22- The Swiss Attorney General's office said on Wednesday it has widened a corruption investigation into Brazilian oil firm Petrobras to include Latin America's largest engineering and construction company, Odebrecht SA, and its subsidiaries. Marcelo Odebrecht, chief executive of Brazil- based Odebrecht SA, was arrested in Sao Paulo last month...