BRASILIA/SAO PAULO, March 5 (Reuters) – 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
A prosecutor’s motion on Tuesday to open investigations
against 54 individuals, reportedly including the leaders of both
chambers of Congress, means a swathe of Brazil’s political elite
now feels threatened.
BRASILIA, March 4 (Reuters) – Brazil President Dilma
Rousseff on Wednesday raced to defuse a rebellion by legislators
upset about her budget austerity plans and her handling of a
corruption scandal at state-run oil company Petrobras.
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.
SAO PAULO/BRASILIA (Reuters) – Brazil’s President Dilma Rousseff raced on Wednesday to defuse a rebellion in Congress by legislators upset over her budget austerity plans and her handling of a corruption scandal at state-run oil company Petrobras.
Rousseff was set to meet with legislative leaders from her coalition, her office said, after they unexpectedly threw out a presidential decree that would have raised payroll taxes and helped close a gaping hole in Brazil’s budget.
BRASILIA (Reuters) – 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 Petrobras (PETR4.SA: Quote, Profile, Research, Stock Buzz), a court official said on Tuesday.
The request for authorization to probe elected officials expands the country’s biggest corruption scandal to the political realm, further rattling President Dilma Rousseff’s administration at a time when it is already struggling to contain the economic fallout from the case.
BRASILIA, Feb 25 (Reuters) – Brazil’s top prosecutor is
expected to file charges in coming days against politicians
implicated in the Petrobras corruption scandal, a political
bombshell that could involve members of Congress and President
Dilma Rousseff’s government.
Under Brazilian law, lawmakers and cabinet members can only
be tried by the Supreme Court. Prosecutor Rodrigo Janot has said
he plans to file cases with the court by the end of the month
against politicians involved in the graft scheme at Petrobras.
BRASILIA, Feb 13 (Reuters) – President Dilma Rousseff’s
austerity push has run into stiff opposition from her own allies
in Congress that could derail her efforts to restore Brazil’s
fiscal credibility and avoid a damaging credit rating downgrade.
The leftist leader’s allies, including members of her own
Workers’ Party, are seeking to water down a first batch of
unpopular bills that trim unemployment and pension benefits and
save some 18 billion reais ($6.32 billion).
BRASILIA (Reuters) – For the first time since a corruption scandal erupted at Brazil’s state-run oil company Petrobras last year, senior opposition politicians are publicly floating the possibility of impeaching President Dilma Rousseff.
She does not face an immediate risk of impeachment, leading opponents told Reuters, but that could change if prosecutors find evidence that Rousseff knew of or benefited from the massive graft scheme.
BRASILIA/SAO PAULO, Feb 3 (Reuters) – A severe drought is
accelerating Brazil’s expected descent into recession, adding to
President Dilma Rousseff’s woes as she takes unpopular austerity
measures and faces economic fallout from a corruption scandal at
state-run oil company Petrobras.
Sao Paulo, Brazil’s largest city, has nearly run out of
water and the whole country faces power rationing as the worst
drought in more than 80 years dries up hydroelectric reservoirs.
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.
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.