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Brazil

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  • BRASILIA, March 6- Brazil's annual inflation rate rose more than expected in February to the highest in nearly 10 years, drifting further away from the central bank's goal despite aggressive interest rate hikes and sputtering economic growth. The result, which topped even the most pessimistic of 28 forecasts in a Reuters poll, shows the unpopular shock therapy...

  • BRASILIA/ SAO PAULO, March 5- A corruption scandal at state-run oil company Petrobras has entered a volatile new phase that could lead to jail for some of Brazil's best-known politicians and business leaders while making a likely recession even worse. A prosecutor's motion on Tuesday to open investigations against 54 individuals, reportedly including the...

  • RIO DE JANEIRO, March 5- The opening of a Brazilian congressional probe into alleged corruption at state-run oil company Petroleo Brasileiro SA erupted into a shouting match on Thursday when lawmakers rushed the dais and accused the probe's leader of seeking to manipulate the outcome. The dispute highlights the rising tension in Congress two days after a...

  • Rousseff met with legislative leaders from her coalition after they unexpectedly threw out a presidential decree that would have raised payroll taxes and helped close a gaping hole in Brazil's budget. If Congress blocks them, the government will have to make deeper spending cuts elsewhere to meet its fiscal savings target of 1.2 percent of gross domestic...

  • RIO DE JANEIRO— The inquiry into the biggest corruption scandal yet uncovered in Brazil entered an expansive new phase, as the attorney general formally requested the Supreme Court's permission to open investigations against 54 people, most expected to be top political figures. Rousseff hasn't been directly implicated in the scandal, denies wrongdoing and...

  • BRASILIA, March 3- Brazil's top prosecutor asked the Federal Supreme Court on Tuesday to open investigations into politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petroleo Brasileiro SA, a court official said on Tuesday. Janot's office did not release the names of the politicians to be investigated,...

  • RIO DE JANEIRO— Brazil's attorney general on Tuesday asked the nation's Supreme Court for permission to investigate 54 people, the majority top political figures, for alleged involvement in what prosecutors say is the country's largest corruption scandal yet uncovered. Attorney General Rodrigo Janot's request to the top court opens an expansive new phase...

  • SAO PAULO, March 3- Only a handful of roads remained blocked in Brazil on Tuesday as truck drivers focused their grievances on Brasilia and a key highway in top soy state Mato Grosso opened after two weeks of protests. By mid-afternoon 500 trucks had arrive at Brazil's No. 2 soy exporting port of Paranagua where recent roadblocks depleted soy stocks.

  • SAO PAULO, March 3- Some truck drivers in Brazil continued blocking roads on Tuesday, slowing grains deliveries to southern ports, even as adherence to the strike diminished and a key highway in top soy state Mato Grosso opened. Nationwide, there were 18 roadblocks over rising freight costs by the end of the day on Monday, well below peaks of more than 100 a week ago,...

  • SAO PAULO, March 2- Petróleo Brasileiro SA plans to dispose of as much as $13.7 billion in assets this year and next as part of efforts by Brazil's largest state-controlled company to reduce debt and protect cash. In a securities filing on Monday, the oil company commonly known as Petrobras raised the target for assets sales from the $5 billion to $11 billion...

  • MEXICO CITY/ BRASILIA, March 2- Mexico is willing to extend an auto export quota pact with Brazil for up to two more years, provided restrictions are eased when the current agreement ends at midnight on March 18, an official familiar with the talks said on Monday. The accord, signed in 2012, limits the automotive trade between Mexico and Brazil under an annual quota...

  • SAO PAULO, Feb 27- The leader of a truth commission investigating abuses during Brazil's 1964-85 military dictatorship lambasted German automaker Volkswagen AG at a hearing on Friday for providing what he called "unsatisfactory" testimony regarding its alleged ties with the regime. In a contentious, nearly three hour-long session, Sao Paulo state...

  • SAO PAULO, Feb 27- Striking truckers lifted their blockade of dozens of highways in Brazil after police began fining and arresting protesters, though strike organizers said they had no plans to end their stoppage now in its 10th day. Brazil is the world's No. 2 soy producer and a top global supplier. Silos at Paranagua, Brazil's second-largest soy export port, now...

  • RIO DE JANEIRO, Feb 27- Brazil's embattled state-run oil company Petroleo Brasileiro SA said on Friday that the director of its corporate-services division will take a 90- day leave of absence for health reasons. Dutra, a former Brazilian Senator, served as Petrobras' chief executive officer for two and a half years from 2002 to 2005 and president of Brazil's...

  • SAO PAULO, Feb 27- Striking truckers lifted their blockade of dozens of highways in Brazil on Friday after police began fining and arresting protesters who have slowed grain deliveries in the commodities powerhouse. But silos at Paranagua, Brazil's second-largest port for soy exports, now have enough soybeans to keep filling ships until March 3, rather than...

  • BRASILIA, Feb 27- Brazilian Finance Minister Joaquim Levy unveiled changes to payroll and export tax benefits on Friday that should help bolster fiscal savings, the latest measures in an austerity push aimed at improving public finances. Levy said in a news conference in Brasilia that a reduction in payroll tax breaks for certain companies would generate...

  • The last hot 'BRIC' has a big weekend coming up Friday, 27 Feb 2015 | 1:24 PM ET
    U.S. President Barack Obama laughs as he talks with India's Prime Minister Narendra Modi at the Rashtrapati Bhavan presidential palace in New Delhi, Jan. 26, 2015.

    This Saturday, investors will tune in to see if India's Narendra Modi delivers on the reforms he's promised as he unveils the country's annual budget.

  • Private equity tops a list of potential investors in a sector that represents 10 percent of Brazil's gross domestic product and shows promise of growth but is hobbled by aging infrastructure, a dearth of qualified staff and rising costs. Two of those sources said a proposal by Carlyle Group LP to pay as much as 2 billion reais for a 30 percent stake in Rede D'Or...

  • BUSINESS-NEWS-SCHEDULE AT 1600 GMT / 11:00 a.m. ET Friday, 27 Feb 2015 | 11:37 AM ET

    WASHINGTON- U.S. economic growth brakes more sharply than initially thought in the fourth quarter as businesses slow their pace of stock accumulation and the trade deficit widens, but the underlying fundamentals remain solid. CHICAGO- Moody's Investors Service cuts Chicago's already-weak credit rating one notch to Baa2, citing the city's growing costs...

  • SAO PAULO, Feb 27- Striking truckers lifted their blockade of dozens of highways in Brazil after police began fining and arresting protesters, though strike organizers said they had no plans to end their stoppage now in its 10th day. Brazil is the world's No. 2 soy producer and a top global supplier. Silos at Paranagua, the second-largest soy export port in Brazil,...