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Updated: 3 min 18 sec ago

Brazil in recession as Q2 GDP slides

1 hour 38 min ago
Brasília (AFP) - Brazil is in recession after Latin America's largest economy contracted during two successive quarters, the National Statistical Institute (IGBE) reported Friday. The IGBE said the GDP shrank 0.6 percent in the second quarter, and 0.2 percent in the first quarter, which it revised down from 0.2 percent growth. Declining GDP in two consecutive quarters is the technical definition ...

Brazil posts primary deficit of $2.1 bln in July

2 hours 1 min ago
Brazil posted its third straight primary budget deficit in July, reaffirming market expectations that President Dilma Rousseff will miss a key fiscal goal for the third straight year. Brazil posted a primary budget deficit of 4.715 billion reais ($2.11 billion) in July, versus market expectations for a slight surplus, central bank data showed on Friday. The country's overall budget deficit ...

Brazil enters recession in pre-election blow to Rousseff

2 hours 48 min ago
Brazil suffered a recession in the first half of the year as investment plunged and the country's hosting of the World Cup suffocated economic activity, a major blow to President Dilma Rousseff's already diminishing hopes for reelection in October. Latin America's largest economy has suffered stagnant growth for more than three years under Rousseff's left-leaning policies, which have dented ...

Risk On for Some Brazil ETFs

4 hours 32 min ago
The story for exchange traded funds tracking Brazil, Latin America’s largest economy, has been easy to interpret this year. It goes something like this: ETFs, such as the iShares MSCI Brazil Capped ETF ...

Brazil dismantles large deforestation gang

4 hours 47 min ago
The "largest deforestation gang" active in Brazil's Amazon rain forest has been dismantled, authorities said Thursday. The federal prosecutor's office in the jungle state of Para said eight suspected ...

Brazil GDP Probably Shrank Most in 5 Years as Vote Nears

Thu, 08/28/2014 - 5:37pm
Brazil’s economy probably contracted in the second quarter by the most since the global financial crisis as President Dilma Rousseff struggles to revive growth before October’s national elections.

Brazil dismantles large deforestation gang active in Amazon rain forest

Thu, 08/28/2014 - 11:08am
The "largest deforestation gang" active in Brazil's Amazon rain forest has been dismantled, authorities said Thursday.

Brazil dismantles large deforestation gang

Thu, 08/28/2014 - 10:45am
SAO PAULO (AP) — The "largest deforestation gang" active in Brazil's Amazon rain forest has been dismantled, authorities said Thursday.

Brazil's Mantega says opposition win could wreck economy

Thu, 08/28/2014 - 10:25am
By Alonso Soto BRASILIA (Reuters) - Brazil's finance minister waded into the country's presidential campaign on Thursday, warning that an opposition victory in the October election could push the economy into recession and undo a decade of social gains under the ruling Workers' Party. The comments by Guido Mantega, which the opposition and some analysts criticized as unbecoming of a sitting ...

Brazil assessing capabilities of Russian air defense system

Thu, 08/28/2014 - 8:31am
Richard Tomkins BRASILIA, Brazil, Aug. 28 (UPI) -- Brazil's military is further assessing Russia's Pantsir-S1 air defense system.

Brazil GDP Probably Shrank Most in 5 Years as Vote Nears

Thu, 08/28/2014 - 7:37am
Brazil’s economy probably contracted in the second quarter by the most since the global financial crisis as policy makers struggle to revive growth before October’s presidential election.

Brazil 2015 Primary Surplus Target Wider Than 2014, Budget Shows

Thu, 08/28/2014 - 4:53am
Brazil’s government will aim for a primary surplus next year of at least 114.7 billion reais ($50.9 billion), up from 99 billion reais this year.

Deforestation: Brazil is a success story for conservation

Thu, 08/28/2014 - 12:00am
Climate scientists link about 10 percent of annual global carbon increase to the effects of deforestation. In the 1990s, tropical deforestation claimed 40 million acres each year, according to a report released in June by the Union of Concerned Scientists (UCS). Trees grow by absorbing carbon dioxide, locking it away in their roots, trunks, branches, and leaves, and emitting oxygen in return ...

Telecom rivals battle for Vivendi's Brazil broadband unit

Wed, 08/27/2014 - 11:07pm
By Leila Abboud and Lisa Jucca PARIS/MILAN (Reuters) - The battle over Brazil's telecoms market intensified on Thursday as European competitors Telecom Italia and Telefonica made rival offers for Vivendi's Brazilian broadband business GVT. Vivendi, which will examine the bids at a Thursday board meeting, must now choose whether to exit its last remaining telecom business after selling off its ...

Brazil telecom battle heats up as Oi tries to buy, split TIM

Wed, 08/27/2014 - 1:54pm
RIO DE JANEIRO/PARIS, Aug 27 (Reuters) - Brazil's Grupo Oi SA unveiled plans on Wednesday to take over Telecom Italia's local mobile unit, in a move sources said was aimed at breaking up the country's second-biggest wireless carrier and upstaging merger bids by foreign rivals. Oi said it hired Brazilian investment bank Grupo BTG Pactual SA to explore alternatives to acquire Telecom Italia SpA's ...

Brazil pursues Amazon 'destroyers'

Wed, 08/27/2014 - 11:52am
Brazilian police say they have dismantled a criminal organisation they believe was the "biggest destroyer" of the Amazon rainforest.

Surprise-package Silva shakes up Brazil vote

Wed, 08/27/2014 - 11:45am
Popular environmentalist Marina Silva has shaken up Brazil's presidential election since her sudden entry into the race, surging to a surprise lead in opinion polls and impressing in her first debate. Silva, who says she wants to be Brazil's first "poor, black" president, has emerged as a serious threat since taking over the top spot on the Socialist ticket following her late running mate ...

New Brazil poll shows Silva beating Rousseff in runoff

Wed, 08/27/2014 - 11:14am
By Anthony Boadle BRASILIA (Reuters) - Environmentalist Marina Silva would handily beat President Dilma Rousseff if Brazil's October election goes to a runoff, a poll showed on Wednesday, an outcome that seemed unimaginable just a few weeks ago and one that would put an end to 12 years of Workers' Party rule. Silva would win 43.7 percent of the votes to 37.8 percent for Rousseff in a runoff ...

Factbox: Brazil presidential candidates' policy proposals

Wed, 08/27/2014 - 10:41am
With Brazil on the brink of a recession, President Dilma Rousseff's two main challengers in the October election are promising a return to orthodox economic policies and greater transparency to restore business confidence and investment. Following are the policy proposals of the three main candidates running in Brazil's Oct. 5 presidential election: PRESIDENT DILMA ROUSSEFF - PT * Social Policy ...

Brazil telecoms battle heats up as Oi steps in

Wed, 08/27/2014 - 9:37am
MADRID/PARIS (Reuters) - The battle over Brazil's telecoms market is heating up, with the country's biggest fixed-line firm Oi signalling it may make an offer for Telecom Italia's local mobile business. The move throws a potential wrench into the bidding war for Vivendi's Brazilian broadband unit GVT, which both Telecom Italia and Spain's Telefonica are pursuing to bolster their mobile ...