Brazilian police have launched a major operation to dismantle a tax evasion and money-laundering scheme in the fuel sector.

Brazil has unveiled long-awaited details about a plan to pay countries to preserve their tropical forests and announced it had already drawn $5.5 billion in financial pledges.

Brazil’s real has fallen to its weakest level against the dollar since the currency was introduced in 1994, undercut by investors’ frustration with President Luiz Inácio Lula da Silva's efforts to rein in government spending.

Finance ministers from leading rich and developing nations are meeting in Rio de Janeiro to discuss a global tax on the super-rich.

Magda Chambriard has been sworn in as the head of Brazil’s state-run oil giant Petrobras as market concerns of increased government intervention in the company mount.

Brazil’s finance minister told his peers during a G20 meeting in Sao Paulo that countries should implement a global tax on the super-rich in an effort to tackle rampant tax evasion.

Brazil’s President-elect Luiz Inácio Lula da Silva is unveiling some of the faces that will comprise his incoming administration, including his much-awaited pick for finance minister: former Sao Paulo mayor Fernando Haddad.