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Dilma Rousseff

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  • SAO PAULO, June 8- Brazil's auto industry is expecting this year's downturn to be its worst since 1998, according to estimates on Monday by national automakers association Anfavea, which slashed its 2015 outlook for the second time in two months. President Dilma Rousseff has also withdrawn subsidies in a recent austerity push, deepening the industry's crisis...

  • RIO DE JANEIRO, June 7- Renowned Brazilian fund manager Luis Stuhlberger warned Brazil's economy is at risk of suffering a new lost decade, saying recent efforts to balance its finances are not enough and that growth will remain lackluster until at least 2018.. Brazil is in the process of trying to cut back spending in a bid to convince investors that President...

  • SAO PAULO, June 3- Moody's Investors Service expects to decide whether to downgrade Brazil's credit rating only after its analysts meet with the country's policymakers in the third quarter, said senior analyst Mauro Leos at the rating agency on Wednesday. The agency assigned a negative outlook to Brazil's Baa2 credit rating last September, warning it could...

  • RIO DE JANEIRO/ BRASILIA, May 29- The Brazilian government is looking beyond fiscal austerity to avoid a recession, Finance Minister Joaquim Levy said on Friday, signaling what could be a new phase in the administration's strategy to pull the economy out of its lull. Picked by President Dilma Rousseff to undo many of the policy missteps threatening Brazil's...

  • BRASILIA, May 29- Brazil's economy shrank 0.2 percent in the first quarter, setting the stage for a likely recession this year as companies slash investments and leftist President Dilma Rousseff tries to atone for policy missteps from her first term in office. Brazil's short-term interest rate futures rose early Friday as traders bet the economy's relative...

  • BRASILIA/ RIO DE JANEIRO, May 28- Brazil's central bank risks causing unnecessary damage to a struggling economy if it raises interest rates even more in coming weeks, a growing number of economists and business leaders warn. Brazil's rate hike cycle, the most rigorous among major economies in 2015, is an effort to tamp down inflation, currently running at above 8...

  • RIO DE JANEIRO, May 27- Brazil's state-run oil company, Petroleo Brasileiro SA, will pay employees 1.04 billion reais in bonuses for 2014 despite recording its largest-ever loss and rejecting investor dividends, a company union said on Wednesday. While Brazil's government owns a majority of voting common shares, non-government investors, primarily holders...

  • BRASILIA, May 27- Brazil's Senate on Wednesday approved an austerity measure that cuts pension benefits as part of President Dilma Rousseff's drive to reduce a widening fiscal deficit and regain investors' confidence in the once-booming economy. On Tuesday, the Senate approved a similarly watered-down version of another measure curbing unemployment...

  • SAO PAULO, May 26- A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe. Federal Judge Sergio Moro said there was ample evidence that the former director, Nestor Cervero, set up a...

  • SAO PAULO, May 26- A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe. Federal Judge Sergio Moro said there was ample evidence to support charges by prosecutors that the former...

  • BRASILIA/ RIO DE JANEIRO, May 22- Brazil will freeze 69.9 billion reais worth of spending on investment, education and health programs this year, limiting outlays in a bid to convince investors that President Dilma Rousseff is committed to saving the nation's investment-grade rating. Still, most analysts believe the freeze will not be enough to meet Brazil's...

  • BRASILIA RIO DE JANEIRO, May 22- Brazil unveiled a spending freeze on Friday, limiting outlays to about 70 billion reais in a bid to convince investors that President Dilma Rousseff is committed to saving the nation's investment-grade rating. Still, most analysts believe it will not be enough to meet Brazil's fiscal surplus goal of 1.2 percent of gross domestic...

  • RIO DE JANEIRO, May 22- Brazil will unveil a spending freeze of 70 billion reais on Friday, a government official told Reuters, limiting outlays to convince investors that President Dilma Rousseff is committed to saving the nation's investment-grade rating. Still, most analysts believe it won't be enough to meet Brazil's fiscal surplus goal of 1.2 percent of...

  • RIO DE JANEIRO, May 22- Brazil's government will disclose a major spending freeze on Friday aimed at convincing investors that President Dilma Rousseff is committed to saving the nation's investment-grade debt rating. A freeze of that size would be in line with market expectations and the biggest since Rousseff took office in 2011. Most analysts believe it...

  • BRASILIA, May 21- President Dilma Rousseff on Thursday rejected calls from some lawmakers in her Workers' Party for Finance Minister Joaquim Levy to quit, saying he would remain in the job. The lawmakers disagree with Levy's push for government austerity, which they think will sink Brazil's economy further towards recession. Rousseff told reporters she will...

  • SAO PAULO/ BRASILIA, May 21- Economic activity in Brazil tumbled in the first quarter and unemployment climbed to a near four-year high, adding to signs of a painful recession that could worsen as President Dilma Rousseff clamps down on spending. In a separate report, statistics agency IBGE said Brazil's unemployment rate climbed to 6.4 percent last month, the...

  • RIO DE JANEIRO, May 21- Brazil's jobless rate rose in April to the highest in nearly four years, adding to signs of a painful recession in Latin America's largest economy. Brazil's non-seasonally adjusted unemployment rate climbed to 6.4 percent last month, the highest since May 2011, statistics agency IBGE said on Thursday. Economists expect Brazil's economy...

  • Mercedes-Benz fires 500 workers at Brazil truck plant Tuesday, 19 May 2015 | 7:09 PM ET

    SAO PAULO, May 19- The Mercedes-Benz truck unit of Germany's Daimler AG said on Tuesday it had dismissed 500 workers at a Brazilian truck plant and is putting about 7,000 others on paid leave as it suspends production in the face of plunging sales. Truck sales in Brazil tumbled about 40 percent in the first four months of this year compared with the same period of...

  • BRASILIA, May 19- Brazil's government is confident that greater coordination between monetary and fiscal policies will help bring inflation back on target by late 2016, despite market skepticism, a senior official told Reuters on Tuesday. It has also left the door open for more rate hikes, despite concerns that Brazil's economy is headed for its worst...

  • BRASILIA, May 19- China has ended an embargo on Brazilian beef imports, Brazil's agriculture ministry said on Tuesday, lifting a three-year old ban and opening the door to half a billion dollars of new sales. Eight Brazilian beef processing plants and one poultry plant were approved to ship to China, the ministry said in a statement after Brazilian President...