Journalist, Washington D.C.
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Jan 29, 2015

Brazil’s central bank opens door to smaller rate hike in March

BRASILIA (Reuters) – Brazil’s central bank cemented expectations of another interest rate hike in March but suggested it could slow the pace of increases going forward, according to the minutes of its last monetary policy meeting released on Thursday.

The bank said it has not yet made sufficient progress in curbing price increases but noted inflation now looks more likely to ease towards the 4.5 percent target in 2016 after three consecutive interest rate hikes.

Jan 27, 2015

Brazil’s Rousseff urges cabinet to back belt-tightening

BRASILIA (Reuters) – Brazil’s President Dilma Rousseff urged her cabinet on Tuesday to embrace fiscal belt-tightening and other measures aimed at restoring business confidence and growth in her second term.

Rousseff stressed the need to rein in wasteful spending and to do more with less, a change of policy that investors want to see but that has caused frictions within the ruling Workers’ Party.

Jan 2, 2015

Insight – Failure to stop Petrobras scandal could haunt Brazil’s Rousseff

RIO DE JANEIRO/BRASILIA (Reuters) – When federal investigators first identified signs of corruption at Petrobras in 2009, Dilma Rousseff insisted Brazil’s state-run oil company had nothing to hide.

“Petrobras has one of the most accurate accounting standards in the world,” said Rousseff, who was then chairwoman of its board and is now Brazil’s president. “If it wasn’t the case, investors would not be seeking out the company as one of the great investment targets.”

Jan 2, 2015

Failure to stop Petrobras scandal could haunt Brazil’s Rousseff

RIO DE JANEIRO/BRASILIA (Reuters) – When federal investigators first identified signs of corruption at Petrobras in 2009, Dilma Rousseff insisted Brazil’s state-run oil company had nothing to hide.

“Petrobras has one of the most accurate accounting standards in the world,” said Rousseff, who was then chairwoman of its board and is now Brazil’s president. “If it wasn’t the case, investors would not be seeking out the company as one of the great investment targets.”

Dec 17, 2014

Latin America welcomes Obama’s move to restore U.S.-Cuba ties

BRASILIA (Reuters) – Latin American leaders who for years have pressured the United States to drop its economic embargo against Cuba praised President Barack Obama for moving on Wednesday to restore diplomatic relations with its communist-run Cold War foe.

Regional leaders said the move and a U.S.-Cuban prisoner swap would further ease an ideological battle that has divided the Americas for decades, even spurring revolutions and dictatorships.

Dec 10, 2014

Brazil dictatorship probe urges prosecuting military, companies

BRASILIA/SAO PAULO (Reuters) – A “truth commission” investigating abuses during Brazil’s 1964-85 dictatorship called for the prosecution of former military officers and some private companies for their role in human rights atrocities, in a long-awaited report on Wednesday.

The probe’s leaders presented their 2,000-page report to an emotional President Dilma Rousseff, herself a former Marxist militant who was jailed and tortured by the regime in the 1970s.

Dec 10, 2014

Petrobras receives citation in New York class action lawsuit

BRASILIA (Reuters) – Brazil’s state-controlled oil company
Petroleo Brasileiro SA received a citation on Tuesday
in the class-action lawsuit filed in New York over billions of
dollars in investor losses stemming from an alleged kickback and
bribery scheme.

The citation came from an investor who claims the company,
known as Petrobras, made misleading statements to the market,
the company said in a securities filing.

Dec 10, 2014

Brazil top prosecutor says Petrobras management should go

BRASILIA (Reuters) – Brazil’s prosecutor-general Rodrigo Janot on Tuesday called for the replacement of state-controlled oil company Petrobras’ top management and punishment of everyone involved in a scheme to funnel kickbacks from contracts to politicians.

Janot made his strongest comments so far on Brazil’s latest corruption scandal as federal prosecutors prepared to indict 11 executives at six of Brazil’s largest civil construction firms for a multibillion-dollar bribe and money-laundering scandal.

Dec 9, 2014

Brazil top prosecutor sees management change over Petrobras scandal

BRASILIA (Reuters) – Brazil’s top prosecutor called on Tuesday for the punishment of everyone involved in a scheme to funnel kickbacks from contracts with state-run oil firm Petrobras (PETR4.SA: Quote, Profile, Research, Stock Buzz) to politicians, and said he expected the company’s management to be replaced.

Rodrigo Janot’s strongest comments so far on Brazil’s latest corruption scandal were made as federal prosecutors prepare to indict 11 executives at six of Brazil’s largest engineering firms for paying billions of dollars in bribes.

Dec 4, 2014

Brazil’s Congress loosens 2014 fiscal goal in bruising vote

BRASILIA (Reuters) – President Dilma Rousseff won a hard-fought victory in Brazil’s Congress early on Thursday with the passage of legislation that frees her administration from complying with its fiscal savings goal for this year.

The amendment to the budget law, approved in a heated 17-hour joint session of Congress, allows her government to deduct infrastructure investments and tax breaks to lower the primary surplus goal to one tenth of its original level.