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Dilma Rousseff

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  • RIO DE JANEIRO, April 22- Brazilian state-run oil company Petrobras reported its biggest-ever loss on Wednesday, the result of a 50.8- billion-real write-down in the wake of a massive corruption scandal. A widening international probe of contract fixing, bribery and political kickbacks at the company, formally called Petroleo Brasileiro SA, led to lengthy...

  • BRASILIA, April 22- Brazil is considering freezing more than 80 billion reais in government spending this year, but some in the administration fear such aggressive belt-tightening could leave the economy in disarray, a senior official told Reuters on Wednesday. Faced with a stagnant economy, the government of left-leaning President Dilma Rousseff is...

  • Judge Sergio Moro also convicted black-market money dealer Alberto Youssef for laundering bribe money and sentenced him to nine years and two months in prison. It was initially the arrest of Youssef and then of Costa in March last year that set off the multibillion-dollar political kickback scandal, Brazil's biggest ever. Since the arrests of Youssef and...

  • ITABORAÍ, Brazil, April 20- For the 20 men hanging on at the Pousada do Trabalhador, a 600- bed boarding house on the dusty outskirts of this boom town northeast of Rio de Janeiro, the dream that Brazil's oil wealth would bring a better life was over. The men are the latest victims of Brazil's biggest-ever corruption scandal, a multi-billion dollar graft scheme...

  • President Dilma Rousseff's austerity measures to bring government finances under control have also gained traction in Brazil's divided Congress. Five-year local rates have dropped 64 basis points to 12.57 percent over the same period, part of a broad rally in Brazil's local currency-denominated debt. "Some things should do better now, particularly if you...

  • CURITIBA, Brazil, April 15- Brazilian police on Wednesday arrested the treasurer of the ruling Workers' Party Joao Vaccari, moving an investigation of rampant corruption at state-run oil company Petrobras closer to President Dilma Rousseff's inner circle. Vaccari's arrest could bring the investigation closer to the president if the money allegedly...

  • CURITIBA, Brazil, April 15- Brazilian police on Wednesday arrested the treasurer of the ruling Workers' Party Joao Vaccari, moving an investigation of graft and political kickbacks at state-run oil company Petrobras closer to President Dilma Rousseff's inner circle. He said all campaign donations to the Workers' Party from the construction and engineering...

  • SAO PAULO, April 14- A corruption probe at Brazil's state-run oil company Petrobras is likely to promote less government intervention and more transparency, economists and analysts said on Tuesday. The investigation could, however, also stir more political infighting, extend the scandal to other state companies and even put the brakes on an expected economic...

  • SAO PAULO, April 13- Petrobras hopes to release third-quarter and full-year 2014 financial results after a board meeting on April 22, after more than five months of delays in the wake of a corruption scandal that has spread to the highest levels of government. The excess funds might have been funneled to political parties, including President Dilma Rousseff's...

  • ITU, Brazil, April 13- The Brazilian iPhone was meant to mark a new era. Foxconn has created only a small fraction of the 100,000 jobs that the government projected, and most of the work is in low-skill assembly. That Brazil has so little to show for the Foxconn investment underscores the shortcomings of its industrial policy, defined by costly tax incentives that...

  • PANAMA CITY, April 12- Cuba and the United States just made history. At a time of multiple risks to his foreign policy record- from Iran's nuclear program and the war in Syria to Russian involvement in Ukraine and the violence of Islamic State- getting on well with Cuba looks relatively easy. "I think there is a strong majority both in the United States and in Cuba that...

  • GOIANIA, Brazil April 10- The Brazilian economy will likely shrink this year, but the South American country could return to growth in 2016 if it succeeds in boosting investor confidence with its austerity drive, the International Monetary Fund said on Friday. The IMF lowered its 2015 forecast for Brazil's economic performance to a 1 percent contraction from...

  • GOIANIA, Brazil, April 10- Brazilian Finance Minister Joaquim Levy on Friday failed to convince all of the country's states to unify an inter-state tax that he said is crucial to reduce legal uncertainties and bolster investment. Speaking after a meeting with the heads of finance of Brazil's 27 states in the central city of Goiania, Levy said all but four states...

  • By embracing power-sharing deals and budget cuts that she shunned during her first term in office, President Dilma Rousseff has begun to ease the economic and political crisis plaguing Brazil, congressional leaders and economists say. Rousseff's decision this week to hand formal responsibility for negotiating with Congress to Vice President Michel...

  • GE sees Latin American growth despite turbulence Thursday, 9 Apr 2015 | 8:18 PM ET

    PANAMA CITY, April 9- General Electric Co projects revenue growth in the high single digits for Latin American in 2015 despite difficulties in major markets such as Brazil and Venezuela, the company's chief executive for the region said on Thursday. "We probably will grow single digits this year in Brazil, which is a good performance considering this is probably...

  • BRASILIA, April 9- State-run oil company Petrobras has purged corrupt managers and put a graft scandal behind it, while hitting record output levels from off-shore deposits, Brazil's President Dilma Rousseff said on Thursday. The indictment of former senior executives of Petroleo Brasileiro SA and the investigation of dozens of political allies of...

  • Brazil rating outlook cut by Fitch on rising debt Thursday, 9 Apr 2015 | 11:53 AM ET
    Rio's iconic Maracana Stadium lit at dusk behind a shanytown.

    Fitch Ratings lowered its outlook for Brazil's long-term foreign and local currency issuer default ratings to "negative" from "stable."

  • Temer chairs the PMDB party, which controls both houses of Brazil's Congress. After the letter was distributed to journalists in Congress, Brazil's currency, the real, firmed to a one-month high of 3.05 per dollar. The endorsement of Rousseff's fiscal austerity push follows months of successive defeats in Congress since her re-election in October.

  • BRASILIA/ RIO DE JANEIRO, April 8- Brazilian lender Caixa Econômica Federal plans to list its insurance unit this year on the São Paulo Stock Exchange, Finance Minister Joaquim Levy said on Wednesday, in a bet that growing demand for insurance products will attract investors. Levy did not give an estimate of how much the unit, majority-owned by France's CNP...

  • Shell gambles on rocky Brazil, Petrobras with BG bid Wednesday, 8 Apr 2015 | 9:49 AM ET
    A Petrobas platform at the Brasfels shipyard in Angra dos Reis, about 115 miles west of Rio de Janeiro.

    Shell’s $69 billion bid for BG Group could increase its exposure to Brazil at a time when the country appears to be destabilizing and stagnating.