International
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.
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.
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.
Central America
Guatemala’s Attorney General Consuelo Porras Loses Bid for Constitutional Court Seat
Guatemala’s attorney general, Consuelo Porras, who has been sanctioned by the United States over corruption allegations, lost a key vote on Monday in which a public university selected two of the 10 magistrates for the country’s highest constitutional court. However, she could still seek a seat through another nominating body.
The election of five full magistrates and five alternates to the Corte de Constitucionalidad (CC) is taking place gradually over more than two months and is considered crucial in the ongoing struggle for control of Guatemala’s judiciary, which critics say has long been influenced by a political and economic elite accused of corruption.
According to results announced at a press conference, the governing council of the Universidad de San Carlos de Guatemala (USAC) rejected Porras, who had applied as either a full or alternate magistrate, and instead chose two candidates aligned with the university rector. The vote was held at a hotel in Antigua, about 35 kilometers from the capital.
Despite the setback, Porras — whose term as attorney general ends on May 16 — could still be nominated to the Constitutional Court by the Corte Suprema de Justicia, which appoints two magistrates. The remaining six are selected by the president, the bar association and Congress.
“It’s always a possibility,” the 72-year-old lawyer said days earlier when asked by reporters whether she would seek nomination through another institution if she lost the USAC vote.
Porras has been sanctioned by Washington and the European Union for allegedly attempting two years ago to block the inauguration of President Bernardo Arévalo and for pursuing legal actions against anti-corruption prosecutors, judges, journalists and social leaders since taking office in 2018.
The USAC vote was controversial because most members of the university’s governing council are serving beyond the expiration of their terms. Students, academics and social activists staged protests against Porras’ candidacy.
International
Florida judge sets 2027 trial in Trump’s $10 billion lawsuit against BBC
A federal judge in Florida has scheduled February 2027 for the trial in the lawsuit filed by U.S. President Donald Trump against the BBC, in which he is seeking $10 billion in damages for defamation.
Trump accuses the British broadcaster of airing a misleading edit of a speech he delivered on January 6, 2021, which, he says, made it appear that he explicitly urged his supporters to attack the U.S. Capitol in Washington.
The president filed the suit in December in federal court in Florida, alleging defamation and violations of a law governing business practices when the program was broadcast ahead of the 2024 election.
Trump is seeking $5 billion in damages for each of the two claims.
Lawyers for the BBC unsuccessfully asked the court to dismiss the case, arguing that Trump had not suffered a “legally recognizable harm,” since the investigative program Panorama, which included the edited footage, aired outside the United States.
International
Head-of-state diplomacy key to guiding China–U.S. ties, Beijing says
Head-of-state diplomacy plays an irreplaceable strategic guiding role in China–United States relations, Chinese Foreign Ministry spokesperson Lin Jian said on Thursday during a regular press briefing, when asked about high-level exchanges between the two sides.
Lin added that in a recent phone call, U.S. President Donald Trump once again expressed his intention to visit China in April, while Chinese President Xi Jinping reiterated his invitation.
Both sides remain in communication regarding the matter, the spokesperson said.
Lin noted that the essence of China–U.S. economic and trade ties lies in mutual benefit and win-win outcomes.
“Both parties should work together to implement the important consensus reached by the two heads of state, injecting greater certainty and stability into China–U.S. economic and trade cooperation, as well as into the global economy,” he said.
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Central America4 hours agoGuatemala’s Attorney General Consuelo Porras Loses Bid for Constitutional Court Seat