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Petrobras shares fall after Bolsonaro fires its boss

AFP

The price of shares in Brazil’s state oil giant Petrobras fell Tuesday in reaction to President Jair Bolsonaro firing its boss after only 40 days on the job.

Bolsonaro dismissed Petrobras CEO Jose Mauro Coelho on Monday in a tug-of-war over rising fuel prices, which are set by Petrobras but tied to international market movement.

Petrobras shares lost more than four percent in afternoon trade on the Sao Paulo Stock Exchange, before recovering somewhat to 2.85 percent lower than Monday’s worth.

The movement reflects investor concerns of a possible intervention by the State, the main shareholder in Petrobras, in its autonomous pricing decisions.

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Coelho took over last month for what should have been a one-year term. He became the company’s third CEO in just over a year after Bolsonaro also fired his predecessors. 

Fuel prices in Brazil have risen more than 33 percent in the past year, according to official figures, driving annual inflation of more than 12 percent and hurting Brazilians’ wallets in an election year.

The far-right Bolsonaro trails leftist ex-president Luiz Inacio Lula da Silva in opinion polls ahead of elections in October.

Brazil’s Ministry of Mines and Energy announced Coelho’s dismissal, saying the country was “experiencing a challenging moment, due to the effects of the extreme volatility of hydrocarbons in international markets.”

The government has proposed for Coelho to be replaced by Caio Mario Paes de Andrade, an official in the Economy Ministry.

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He must be confirmed by the company’s board of directors.

Earlier this month, Bolsonaro also replaced his longtime energy minister, Bento Albuquerque, days after Petrobras reported record quarterly profits.

Bolsonaro said those profits amounted to “rape,” and called on Albuquerque and Coelho to stop Petrobras from raising prices.

Petrobras went on to hike diesel prices by an additional 8.9 percent.

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International

Archbishop Wenski criticizes Trump’s deportation policies, calls for stronger push for reform

The Archbishop of Miami, Thomas Wenski, has called for increased pressure on the U.S. Congress to advance comprehensive immigration reform and criticized President Donald Trump’s mass deportation policies, arguing that they “do nothing to help.”

“We need to apply more pressure on Congress so lawmakers can make the necessary changes. It is also important for the Administration to listen to our voice. We do not want to be anyone’s enemy—we are Americans,” Wenski said in an interview with EFE.

The religious leader, who heads one of the dioceses with the largest Latino and Haitian populations in the United States, issued a call to defend the rights of migrants. He also emphasized that the U.S. Conference of Catholic Bishops (USCCB) has maintained a strong and public stance in favor of migrants for decades.

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International

Trump relaunches diplomatic push to finalize U.S.-Backed peace plan for Ukraine War

U.S. President Donald Trump announced on Tuesday that his diplomatic team will resume meetings with delegations from Russia and Ukraine in an effort to pressure both sides to accept the peace plan proposed by Washington to end the war in Ukraine.

As part of this new round of talks, U.S. Special Envoy Steve Witkoff will travel to Moscow to meet with Russian President Vladimir Putin. Meanwhile, Army Secretary Dan Driscoll will hold discussions with Ukrainian representatives to narrow differences on the remaining points of the agreement.

Trump also confirmed his intention to meet personally with Ukrainian President Volodymyr Zelensky and with Putin, though he emphasized that such meetings will only take place “when the agreement is fully finalized or in its final stage.”

The president claimed that his administration has made “tremendous progress” toward resolving the conflict and reiterated that the war “never would have started” if he had been in the White House at the onset of the crisis.

The U.S.-backed peace plan consists of 28 points and has been revised following feedback from both sides. According to Trump, only “a few points of disagreement” remain under active discussion.

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One of the most controversial aspects of the proposal is the suggestion that Ukraine cede parts of the Donbas region to Russia and limit the size of its armed forces. Kyiv is working closely with Washington to soften these clauses in search of an arrangement that does not compromise its sovereignty or security.

With this diplomatic push, Trump aims to solidify his role as the main mediator in the conflict and steer the war toward a political resolution after years of devastation, humanitarian crisis, and rising global geopolitical tensions.

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International

Man pleads not guilty in Liverpool parade incident that injured more than 130

Paul Doyle, who has been held in provisional detention since the incident, is accused of intentionally injuring 12 people, attempting to injure another 17, and committing acts of violence and dangerous driving.

According to prosecutors, eight of the victims were minors at the time, including a six-month-old baby.

Wearing a black suit, the 54-year-old defendant broke into tears as the jury entered Liverpool Crown Court, in northwest England. Doyle, a father of three and former member of the Royal Navy, had pleaded not guilty in September to the 31 charges against him.

On Tuesday, he reaffirmed his not-guilty plea when asked to respond again to four of the charges, which had been slightly amended. The jury was sworn in the same day, and the trial—expected to last three to four weeks—will begin on Wednesday.

The incident occurred on May 26, when thousands of Liverpool FC supporters were gathered for a parade celebrating the club’s Premier League victory. According to the investigation, Doyle’s car entered a street that had just been reopened to allow an ambulance through.

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His vehicle was then surrounded by a crowd of Liverpool supporters, some of whom acted aggressively. Doyle first reversed, then accelerated forward, swerving and striking people on both sides of the street. According to an initial report from Merseyside Police, 134 people were injured.

Firefighters reported that one man was thrown onto the hood of the vehicle and four people, including a child, were trapped underneath the car.

Doyle was arrested at the scene. Police quickly ruled out any terrorist motive, stating instead that it was an isolated incident.

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