O Globo

O Globo News

  • Petrobras Spending Eclipsing World Cup Snares Finance Minister

    Brazil’s top finance official is being roped into a growing scandal over Petroleo Brasileiro SA’s $1.19 billion purchase of a Texan plant, the latest in a string of troubles plaguing the company’s money-losing refining unit.

  • Campos Says Brazil Needs Long-Term Fiscal Strategy After S&P Cut

    Brazilian presidential hopeful Eduardo Campos said the country needs to reassess the political role of the Mercosur trade group, devise a long-term strategy for fiscal policy and avoid fighting inflation with measures he described as a “handbrake.”

  • World Cup Fans Face Flight Turmoil Amid Airspace Restrictions

    Air travelers face canceled or rerouted flights in Brazil during the World Cup because game-day airspace restrictions in the 12 host cities.

  • Rio Police Seize Favela as Crime Rises Ahead of World Cup

    Rio de Janeiro state’s security forces occupied another slum today following a surge in crime in the favelas where it has expanded policing.

  • Brazil’s IMF Director Urges Lender Not to Bend Rules for Ukraine

    Brazil’s representative at the International Monetary Fund cautioned the lender against easing its standards to enable a large loan to Ukraine under pressure from the U.S. and Europe.

  • MORE: Odebrecht Denies Wrongdoing in Petrobras Contract

    Co. “vehemently denies any irregularity in the contracts signed with Petrobras, which were won legitimately,” according to e-mailed response today to questions from Bloomberg News. * Odebrecht was not notified of any questions stemming from an internal Petrobras audit of contract, company says * The reduction in the scope of the contract was due to Petrobras’ disinvestment abroad, Odebrecht says in e-mail * NOTE: Petrobras internal audit reveals irregularities in contract with Odebrecht, O Globo reports today * Link to article: http://glo.bo/1jOxJFP * Petrobras renegotiated contract signed in Oct. 2010 to reflect updated portfolio of assets and need for services at subsidiaries outside Brazil, Petrobras said in an e-mailed response today to questions from Bloomberg News. * Contract renegotiation in Jan. 2013 considered internal audit, Petrobras said via e-mail * Original contract allowed co. to request services in 9 countries up to maximum limit of $825.7m, according to Petrobra

  • Crazy Prices Spawn ‘Surreal’ Currency as Rio Residents Flip

    Making its rounds on social media is a mock change to Brazil’s real: Salvador Dali’s face emblazoned on the currency and renamed the “surreal.”

  • Petrobras CEO Says Gasoline Prices Lag Expectations, Globo Says

    Maria das Gracas Foster, chief executive officer of Petroleo Brasileiro SA, said Brazil’s gasoline price increases are about 6 percent lower than forecast, O Globo reported.

  • Brazil Government Considers Permanent Tax Cuts, O Globo Says

    Brazil’s government is considering making permanent certain tax cuts that were implemented to spur the economy, local newspaper O Globo reported.

  • Rousseff, Serra Tied in Run for Brazilian Presidency, O Globo Poll Shows

    Brazil’s former Cabinet Chief Dilma Rousseff has pulled into a tie with former Sao Paulo opposition governor Jose Serra ahead of October’s presidential election, according to an O Globo and Estado de S. Paulo survey released today.

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