Petroleo Brasileiro SA (Petrobras): the state-controlled oil producer was at the centre of a corruption investigation. Photograph: Dado Galdieri/Bloomberg

Petrobras chairman Murilo Ferreira is taking a leave of absence less than five months after he was appointed to help the Brazilian government-con(...)

It was one of the remarkable features of Brazil’s road to “socialism” under the once-revolutionary Workers’ Party (PT) that it mitigated the class ten(...)

Brazil’s president Dilma Rousseff  with China’s president Xi Jinping at the sixth Brics summit in Fortaleza. Photograph: Nacho Doce/Reuters

Brazil’s President Dilma Rousseff had some reason to be pleased with herself this week.Not only did she host on Monday a successful meeting of the lea(...)

Indian prime minister Manmohan Singh, Chinese president Xi Jinping, South African president Jacob Zuma, Brazilian president Dilma Rousseff and Russian president Vladimir Putin pose during the fifth Brics Summit in Durban. Photograph Rogan Ward/Reuters

China and Brazil have agreed to establish a currency swap line worth around $30 billion (€23.5bn) in their respective currencies, which they sa(...)