did brazil? or did brazil take sides in the war? professor clabough: it is interesting. throughout the war brazil was essentially pro-southern. largely the reason for that, you would think it might have to do with the issue of slavery. as near as i could discover, it had mostly to do with the brazilian emperor they were still an empire at that time. the emperor's name was dom pedro ii. essentially, the u.s. ambassador to brazil at the time, from washington d.c. had personally insulted dom pedro ii at some social occasion. and so that was the main reason that there was not a closer association between the brazilian government and washington, d.c. it had less to do with politics and more with the whim of the emperor. so again that's where governmental and cultural differences come into play. the ambassador, the u.s. ambassador was kind of a pushy person. that did not go over well with someone who is titled as emperor. yes, sir? >> in connection with the settlement of some ex- confederates in other latin american countries was there in the case of the brazilian ex-confedera

at the end of the war and went to brazil. i remember from 30 or 40 years ago reading an article about that. bill maybe wrote that and i have never heard of it and i got interested. i'm looking for to hearing his top. -- his talk. his talk today is entitled " confederados. casey clabough. [applause] professor clabough: thank you dr. coles. thank you all for being here and for inviting me. to extend the last speaker's eloquent comment about the end of the war being a time of uncertainty, i'd like to begin with that. that is essentially the reason for the strange story of these people called, who came to be called in brazil, confederados. that is, former confederates former families, civilians soldiers administrators, who somehow ended up in brazil. it's such a dark slate in terms of history. there is only one boat in existence, it came out in the 1990's, university of alabama press, on the subject. i would encourage students, graduate students watching and scholars watching who are interested in pan-american history as well as

did brazil? or did brazil take sides in the war? professor clabough: it is interesting. throughout the war, brazil was essentially pro-southern. largely the reason for that, you would think it might have to do with the issue of slavery. as near as i could discover, it had mostly to do with the brazilian emperor, they were still an empire at that time. the emperor's name was dom pedro ii. essentially, the u.s. ambassador to brazil at the time, from washington d.c. had personally insulted dom pedro ii at some social occasion. and so that was the main reason that there was not a closer association between the brazilian government and washington, d.c. it had less to do with politics and more with the whim of the emperor. so, again, that's where governmental and cultural differences come into play. the ambassador, the u.s. ambassador was kind of a pushy person. that did not go over well with someone who is titled as emperor. yes, sir? >> in connection with the settlement of some ex-confederates in other latin american countries, was there, in the case of the brazilian ex-conf

we are in the northeast of brazil, in the pau brazil national park. there's a rich variety of nature here, vastly different ecosystems thriving side-by-side. one is the mussununga forest. >> mussununga is a knee -- is a unique habitat here in southern bahia. it's characterized by sandy soils. the ground is very loose and the trees have to adapt to that. the trees aren't that close together. more light enters the forest, as do other plant species, like millions or orchids -- bromel iads or orchids. >> the part director says vanilla can also be found here. its fruit is the precious vanilla pod. many plants and trees have adapted to their environment in very special ways. >> this is the paraju, a tree quite common to this region. in mussununga it had to adapt to the sandy soils. to keep stable, it has developed wide roots which supported on the surface. -- support it on the surface. >> the name of the national park, pau brazil, comes from a tree species, also known as brazilwood. centuries ago, the portuguese chopped down the trees to extract its red adm

but first, let's start in brazil. because, you know what not long ago, it was one of the world's rising economic stars. the "b," of course in the group of brics fast-growing economy along with russia india, and china. these are tough times for all on that list but especially for brazil. because later today, this friday, official figures are expected to confirm the economy is in its worst state in a quarter of a century. government stimulus measures dragged it out of recession last year, but not for long quite possibly. today's figures may show that brazil's economy went into reverse again in the final quarter of 2014. the final three months of that year contracting a fifth of a percent. the current quarter is also expected to be negative meaning, yep, brillazil is probably back in recession, which is two quarters of negative growth. that's how we get a recession. a slumping commodity prices has certainly hit brazil very hard. and of course, you may remember this a huge corruption scandal has dented foreign investor co

china has suffered as well as brazil. everybody knows the value and pet roh bras have been two of the worst investments you could make over five years. now the scandal. people think it could draw in dilma the president of the brazil. this weekend or the past couple days we've started to learn some major governors, the governor of the rio state some other major people that are part of the ruling party. so what happens here? first of all, there's going to be a protest this weekend where a lot of people think it will lead to headlines that will be ugly. i think you could walk in on monday and see a lot more pressure on the real. if you look at the real we're basically at all-time lows. it's been the worst performing in a very difficult class of emerging market currencies. what do i do here? first of all i look at petrobras and i think there's two things this company has to do. they have to cut capex down to probably $20 billion, they have to start selling off significant assets, and then you hope that there's been an arrest

to northern brazil than it is to move from southern brazil to northern brazil. these dynamics are changing a few things. no grandiose changes, but some impact on the periphery. jonathan: the price dynamics for the rest of the year. we are telling our audience breakfast is getting cheaper. aren shoes coffee, which one is going to rebound the most? >> from the sugar side of things, as long as the weather holds out, we've got some stability. from a coffee standpoint, that's where maybe some of the risks could lie. we have come off a very poor crop. conditions have improved. anything could outperform. it could be coffee. jonathan: fascinating stuff. bearish on breakfast. thank you for joining us this morning. coming up, bill ackman. one of the best-performing hedge funds last year. he is said to be under investigation. we will break down that and the fbi probe into bill ackman's funds after the break. ♪ jonathan: good morning. a quick check in on the market. equities ready flat across much of europe. the ftse 100 in negative territory. the dax stays higher. nine s

did brazil? or did brazil take sides in the war? professor clabough: it is interesting. throughout the war brazil was essentially pro-southern. largely the reason for that, you would think it might have to do with the issue of slavery. as near as i could discover, it had mostly to do with the brazilian emperor they were still an empire at that time. the emperor's name was dom pedro ii. essentially, the u.s. ambassador to brazil at the time, from washington d.c. had personally insulted dom pedro ii at some social occasion. and so that was the main reason that there was not a closer association between the brazilian government and washington, d.c. it had less to do with politics and more with the whim of the emperor. so again that's where governmental and cultural differences come into play. the ambassador, the u.s. ambassador was kind of a pushy person. that did not go over well with someone who is titled as emperor. yes, sir? >> in connection with the settlement of some ex- confederates in other latin american countries was there in the case of the brazilian ex-confedera

key allies of president dilma rousseff. >> this list of names was released by brazil's court. taking bribes from all but one from president dilma rousseff's governing coalition. paying bribes to get lucrative contracts for petrobras. much of the corruption is believed to have taken place the president has been cleared of any involvement in the scheme. speaking before the list of names was released, she says her focus is on restoring brazil's flag economy. >> a new trajectory so we can grow. >> but the scandal has shaken the brazilian stability. >> this is an enormous scandal involving the largest company in brazil petrobras which happens to be a state company. >> law make rs held accountable even before the investigation is completed. >> you wouldn't necessarily have to wait for the end of the investigation or for sentencing process. if there was evidence against that member of parliament, it would go to the ethics board and then to the floor for an open vote by the chamber of deputies. >> under brazilian law elected officials can only be tried by the supreme court which must

andrew thomas al jazeera >>> brazil has recleared a state of disaster in the rio grande region after a wave of prison riots. there were riots in 14 of the state's 33 prisons with inmates complaining about overcrowded conditions. >>> the president of brazil is on the offensive after sunday's nationwide protest against corruption. >> responding to a wave of antigovernment protests, the president of brazil announced a series of anticorruption measures on wednesday. if passed it would bar those with a criminal record for running for isil criminalize slush funds to use for campaigns and the capture of those accuse of corruption. >> it's time for brazil to put an end to these crimes or practices that continue to corode our insides. the time is now. >>reporter: the announcement comes on the same day that new polls showed his popularity falling to a new low. 62% of respondents said his government was bad or terrible. that's the worst ranking score since 1992 when fernando color was impeached for corruption. also thursday there were fresh protests against him in several cities. >> he's a mani

it's important this moves forward, because people are aware that brazil, that is celebrating this year, 30 years of democracy is taking the rule of law seriously. politicians, the president, are under enormous public pressure from public opinion to take this seriously. this is an enormous corruption scandal, involving the largest company in brazil, petrobras that happens to be a state company. >> yes, and it was mentioned in our report earlier that president rousef, she's been completely cleared of involvement in this particular scheme but she did chair the board of petrobras for seven years when that corruption is alleged to have taken place. so is there a potential that further investigation could focus on her somewhere down the line? >> yes, because investigations are now starting, are going to conduct under the supervision of the supreme court. the president has a reputation of personal integrity and she's not accused of anything, but as you mentioned she was at the helm of this arrest for the whole eight years of president lula's administration, and obviously she is vulnerable. th

indeed across brazil, turn out was lower than expected. their reports that the president has instructed her cabinet to stay in the capital over the weekend and see just how large anti-government protests on sunday turn out to be. and to register any impact it could have on the government. adam raney, al jazerra, sao paulo. >>> a forest five in chile has forced more than 4,000 people from their homes. a state of emergency has been declared in the port cities. valparaiso and delmar. warm temperatures and strong winds fan the flames and the blaze spread quickly destroying about 500-hectares of land. >>> the u.s. investigators say they have leads in the hunt for whoever shot and wounded two police officers in ferguson, missouri during a protest rally this week. protesters condemning the shooting held a candle-lit vigil for patriots, ferguson is the folk thefocal point since the killing of an unarmed black teenagers by eye white police officer. >>> stopped asking to use its base. russia has been using it as a support site for bomber flights ove

brazil's currency is at it's lowest point in 12 years. prices are going up, inflation 7.5% behavioral and everything seems more expensive to people living here who owe quite a lot of them a lot to this party the workers party some 30 million brazilians estimated to have come out of poverty under her and her predecessor president desilva. you have building anxiety fear happening at the same time that this corruption scandal is swirling around the political leaders, as well. >> briefly tell us about this protest today. >> there were thousands of protestors in several cities cruise brazil but each protest was from what we can tell quite small. we were about a half kilometer from where i am now. we saw half a -- people and military police. the numbers were small than what they were hoping to get out on the streets. >> adam in sue haul low, thank you. >> the country began membership negotiations in 2010 seek to go move closer to the e.u. after a catastrophic banking collapse sent the economy into free-fall. >> the european union urged greece t

victoria gatenby reports. >> this list of names was released by brazil's supreme court. among the 54 people accused of taking bribes, there are former president and the speakers of both chambers of congress and all but one are from president del marusa's coalition. it's alleged they paid officials to get lucrative contracts with the state-owned oil firm. president russef chaired the board for seven years which much of the corruption is believed to have been taken place. she has been cleared of any involvement in the scheme. speaking before the list of names was released she said her focus is on fixing brazil's struggling economy. >> we are now entering a new phase in confronting the crisis in which a number of different measures will be needed a new trajectory so that we can grow. >> but the scandal has shaken the brazilian political establishment and undermined support for rousseff who was narrowly re-elected last year and is struggling to stave off a recession. >> politicians the president are under an enormous public pressure pressure from public opinion to take this

have there is the judiciary system in brazil? >> the corruption allegation -- a prosecutor that is not linked to the state. olivia: is the court system clean in brazil? >> mainly, yes. he was ousted after this was revealed. olivia: will we be having this conversation if the price of oil had not collapsed? >> maybe not. brendan: a lot of economists look to latin americans have chile did all the right things in the last 10 years. why has brazil found that so difficult to make those changes? >> one thing brazil did was -- it improved quite a bit but did not invest enough. you need to do it. now, it's a difficult moment to do it. brendan: thank you so much. olivia: our twitter question of the day saudi arabia is leading airstrikes in yemen. what you think, should the u.s. get involved in yemen? ♪ tom: you did not own kraft. a look at kellogg's going back 30 years. dividends can really work for you. your total return, 10.9% per year. you bought it at $53 a share. he turned $10,000 into $200,000. brendan: he is looking at the middle

brazil's president responds to a wave of anti-government protests vowing to stamp out corruption plus a bear cub available toll eat or perhaps you want a tiger skin and we report on the wildlife trade. ♪ tunisia president has a war on terrorism and made comments after a deadly attack on one of the capitol popular tourist sites, this is a scene live right now, that is the entrance to the compound that is home to the national museum. as you can see a couple of armed guards are stationed outside and let's take a look at what happened there on wednesday. two gunmen wearing military uniforms stormed the museum killing 19 people and 17 of them tourists and hours later they stormed next door to tunisia parliament and killed both gunmen and unclear what the motivation was and people gathered to pay respects to people killed in attack and held banners and flags. we will go to jackie who is in the capitol of tunis and security forces outside the scene of the attack, is this what we have seen being rolled out in other parts of the country? >> certainly the focus very much on the moment at the

brazil the bricks. you got brazil, india, china, and russia. three of those bricks china, russia, and brazil, seem to be struggling. >> in reference to russia and brazil we see, broadly speaking that where financial markets don't trust the government to be doing the business-friendly thing, they see further depreciations against the dollar than other places where the government is more stable. china's slowdown is a structured slowdown which we still see as being in pace for now, but certainly, where we see governmental or political issues russia and brazil as you mentioned. some of the other markets that our clients tend to watch like nigeria, for example, we do see struggling. >> we mentioned about u.s. companies being impacted by the u.s. dollar. but what about companies that have a lot of exposure to some of those emerging markets? >> sure. the, when it comes to u.s. companies exposure companies that are exporting to the emerging markets for sale will have a harder time in this environment. those that are able to produce locally and already

. >> supporting brazil's state oil company petrobras oil workers we're not corrupt protests across brazil. corruption scandal swirling around petrobras could lead for calls for its privatization. >> translator: look, there's always been corruption in petrobras. the guilty parties need to go to jail. they need to be removed. >> critical of the government's austerity measures are against any efforts to imfeature president. in brazil's largest city, protesters occupied a block on one of sao paulo's biggest avenues. dating back to rousseff's predecessor, luis de silva. >> especially for the working class. >> she was elect end democratically so because of that we have to defend president dilma, definitely so that's why we protest in the streets. >> reporter: hundred of riot police were called out but the demonstration remained peaceful. bolstering rousseff's popularity at a historic low. shrinking economy high inflation and a weaking currency. never attracted the tens of thousands of people that organizers were hoping for across brazil being turnout was lower than expelled. president rousseff

. >>> brazil's president respond to his a wave of anti-government protests vowing to stamp out corruption. plus. >> it cool just a few hours to cut down century old trees. find out what villagers here in southern den zen gal are doing to fight back against illegal timber smuggling. ♪ ♪ >>> tunisia's president is vowing to, quote wage a merciless war against terrorism. he made the comments after a deadly attack on one of the capital's most popular tourist sites. two gunmen wearing military uniforms stormed tunisia's national museum on wednesday killing at least 19 people. 17 of them were tourists. hours later, security forces stormed the museum, which is next door to tunisia's parliament. and killed both gunmen. it's unclear what their motivation was. overnight dozens of people gathered to pay that are respects to people killed in the attack. they held flags and banners renouncing terrorism. let's go live to now. the president has been it'sing visiting the victim, but what is he doing to make sure the people are safe and this will not happen again jackie? >> reporter: as we heard he's

brazil was playing in a second consecutive world cup final. it is the sort of thing that will always stay in ahead of the players, the full state of the facilities of the match, the adrenaline of the game. we were playing against a great team as well. when you lose, you want to speak about the errors, and that happens, but we also have to underline that they are a great french team, and they won that. reporter: unforgettable night got it the quarterfinals last year brazil. >> he was a very influential player. we both played in the same position in those days, so i respect him a lot. since then, he has become a coach as well, beginning with brazil for the 2010 world cup. it was with great pleasure that we were both against the barcelona match. he was sitting right behind me and he speaks italian, it was easy to talk to him as i do not actually's beak portuguese myself -- i do not actually speak portuguese myself. reporter: the five-time world cup winners have since one six matches, 14 goals conceding only one. wednesday, champions germany conti

and ironically, it's the 30th anniversary of the return of democracy in brazil. when after a 20-year military rule there were finally free elections the people marching say they are pro-democracy but their opponents say this is an attack on that very democracy. there were conservative strains visible. signs calling for military intervention and rejections of communism. an analogy that they have accused the president and the party of following. while the protests carry on, the president's justice minister announced that the president is listening to their demands and will act on them. it's a response by a president from whom it seems many no longer want to hear. adam raney, al jazerra, sao paulo. >>> in venezuela lawmakers have agreed to give president nicholas maduro new powers which allow him to make unilateral decrease. decrees. the u.s. president barack obama had called him a threat to u.s. national security. virginia lopez reports. >> reporter: venezuela's government rula decemberbly has given president nicholas maduro swing powers, the right to pass hows wit

speaking before the list of names was released she said her focus was on fixing brazil's struggling economy. >> translator: we are now entering a new phrase in confronting the crisis in which a number of different measures will be needed, a new trajectory so we can grow. >> reporter: but the scandal has shaken the brazilian establishment, and rousseff who was just reelected last year and trying to stave off the opposition. >> under enormous public pressure pressure from public opinion to take this seriously this is an enormous corruption scandal involving the largest company in brazil, petrobras that happens to be state company. >> reporter: the petrobras scandal has been developing for months. >> translator: you wouldn't necessarily have to wait for the end of the investigation or for the sentencing process. if there was evidence against that member of parliament, it would go to the ethics board and then to the floor for an open vote for the chamber of deputies. >> under brazilian law elected officials can only be tried by the supreme court and that body has to decide whether there's enoug

take a look at this video coming out of brazil. more than a million people took to the streets to protest corruption calling for the ouster of the president. brazil is not the only south american country with rising discontent. venezuela is conducting mlt exercises and the venezuelan president is blaming its goes on the united states. what's going on in these south american countries, could it impact oil price. >> one would think it would. both countries have problems. in brazil you have just endemic almost nigerian like corruption. in venezuela you have endemic almost nigerian-like corruption and economic stupidity. you have two countries in very dire straits. it's getting worse. in brazil the corruption is unbelievable. every day something new. you always see more cockroaches. not just one. a million people take to the streets. i have never trusted the president. she was a marxist guerilla to begin with. venezuela is about to go into -- if not revolution certainly go into continued discord. the president there is, let's be blunt,

. >> a crackdown on corruption in brazil. >> today on "the stream". >> the annual south by southwest festival has been a breeding ground for some of the biggest tech innovations in the world. we'll take you there, giving you a glimpse into the future. >> "the stream". today, 1:30 eastern. only on al jazeera america. >> tunisia's president vowed to fight a war against terrorism in his country making the comments after a deadly attack on one of the capitol's most popular tourist sites. nighttime vigils were held for 14 killed on wednesday. >> an international coalition fighting boko haram has driven the armed group out of northeast nigeria town. the town was retaken from the group over the weekend. >> negotiations of iran's uranium enrichment program of underway in switzerland diplomatics trying to meet a deal by a self imposed deadline this month. >> tunisia naming the two people behind the attack at a national museum. politicians were in the middle of a debate on no anti terrorism laws when the attack happened. a bill was presented in january last year that contained a broad definiti

we are looking at the impact on the economy of brazil. lay offs the shares lost and we are seeing a strong impact on the economy. >> this is a time when dilma rousseff is staving off the country falling into recession. >> the country has lost 2%. the insprayings way faster. 6% 7 trz. you have the population faster. there was a situation that had to be improved. >> thank i. >> pleasure. now, the u.s. president cama defended the decision not to charge a ferguson police officer with the killing a black teenager. his dead left to protests over the treatment of african-americans. >> we may never know exactly what happened, butt darren wilson charged with a crime, benefits from due process and a reasonable doubt standard. if there is uncertainty about what happened. you can't charge him because what happened was tragic. that was the decision made, and i have confidence and stand fully behind the decision that was made by the justice department on that issue >>> thous anth of people are parliamentary secretary in the southern u.s. city of sell p

but these days there are fewer people in brazil with cash to spend burning in their pockets. adam raney al jazeera. >> still to come on the show, australia's cricket captain makes a big announcement ahead of world cup final. details later in sport. >> the driver in pole position after qualifyings session. hamilton is the reigning world champion, and he'll be looking for his second straight win this season. hamilton's teammate will start in third. >> it's always difficult and none of us have driven this weekend in the wet. the first lap is always--just the unknown. and it's, you don't want to take too much risks so you don't get the lap. but you need the atmosphere. it was pretty good. i was pushing. the next one was up at one stage. and just lost a little bit on the lap. and they did a fantastic job. >> michael clarke has announced he'll retire from one-day internationals after sunday's australia's match. he has had a string of hamstring injuries. he has struggled and he'll continue as test captain. he'll lead his country to its fifth world cup title. >> i think it's the righ

i'm going to take you first toward the north into brazil. where the acre river as we take a look at the video, is just overflowing. we've been talking about this area for the past couple of weeks, in fact and into the rio branco region of brazil we are seeing the moisture just overflowing because of all that rain that's pushing through. schools have to be closed electricity is getting cut off. this is really a big, major problem. now way down toward the south into argentina, the southern portion of argentina where we're seeing wildfires spreading very quickly because there is no rain taking place. on average, on a daily basis, 1,000 hectares of forest is being burned on a daily basis. so it's not a good situation. and unfortunately, both areas looking at the extremes continuing as we go throughout tuesday. look at this plenty of moisture into brazil down toward the south. no rain at all. and so we are looking at these flooding conditions continuing for brazil, some areas looking at close to 70 to 80 millimeters of rainfall. and down toward t

expensive to do business in brazil. bill rhodes, you are now of william r rhodes global advisors, you have been in brazil since the cardoza government in the 1990's. after that debt restructuring, brazil had a chance to make changes, what has it failed to do in the last 15 years? bill: they have made a lot of progress. from the agreement in 1994, running for two terms of president. the next leader build a basis for the economy. he was lucky because he had a great policy. watching levy -- joaquin levy was his deputy. in the last four or five years they ignored a lot of structural reforms. so they did not reform the tax system, they did not refund the pension system. they did not have a fiscal reform. that is coming home to hit them now. brendan: is it fair to say they had been tackling government by government problems? they created the real as a credible currency. they tackle poverty. it is the last step no one has been willing to get into corruption. bill: obviously the petrobras corruption is probably the biggest corr

and then he ran toward brazil. the final decision on his future has yet to be reached, with his lawyers planning to fight the expulsion. molly: in five days, israel will head to the polls. benjamin netanyahu is losing steam. the centrist opposition parties are picking up the pace. netanyahu has been giving a series of last-minute tv interviews and has warned that israel would take a hit if he lost to the centerleft challengers. more on the prime minister's media blitz. >> any israeli election is a very difficult one to predict and this one is no exception. it is true that we have seen a reversal whereby netanyahu's right-wing party has been outdone by its main rival, the centerleft zionist cap. the zionist camp maintains the lead will have to see benjamin netanyahu engaging in a last-minute blitz. it is a clear indication that his days in office may come to an end. because the way the israeli electoral system works, that may not be the case. nonetheless, netanyahu, in the series of tv interviews he granted to israe

she says her focus is on fixing brazil's struggling economy. >> translator: we are now entering a new phase in confronting the crisis, in which a number of new methods will be needed. >> but the scandal has been damaging to rousseff who was just reelected last year. >> politicians are under enormous public pressure, pressure from public opinion to take this seriously -- this is an enormous public scandal involving the largest public company in brazil, petrobras that happens to be a government company. >> accountable even before the investigation is completed. >> you wouldn't necessarily have to wait for the end of the investigation. or for the sentencing process. if there was evidence against that member of parliament, it would go to the ethics board and then to the floor for an open vote by the chamber of deputies. >> reporter: under brazilian law elected officials can be only tried by the supreme court which must now decide with the help of prosecutors whether there is enough proof to put them on trial. victoria gatenby, al jazeera. >>> police investigating the reports of a suspicio

it deals with confederates who left the united states at the end of the war and went to brazil. i remember reading an article in civil war times that illustrated that. i am looking forward to hearing his talk. this talk is entitled "the confederados." >> thank you all for being here will stop to extend the last speaker's comment about the end of the war being a time of uncertainty, i would like to begin with that. that is essentially the reason for this strange story of people being called confederados, these former confederates who ended up in brazil. it is such a dark slate in terms of history. there is only one book in existence it came out in the 90's i would encourage anyone watching who is in -- who is interested in pan-american history as well as the civil war . this is a great history but there is a lot of work to be done. i did a lot of historical research for my book. for my fictional title," confederado." how does an english professor from appomattox, virginia, come to have an interest in confederados? and the answer is, marriage. [laughter] i married a local gal from

the party won 30 seats in parliament. >>> brazil's president is trying to clear the cloud of kickback allegations bead against her party. dilma rousseff has cited a new routine. >> reporter: responding to a waive of antigovernment protets, dilma rousseff announced a series of anticorruption pressures on business. it would bar those with a criminal record for running from office, criminalize slush funds used to finance campaigns and allow for the seizure of assets of those guilty of corruption. >> we have to open our eyes wide and say the time for brazil to put an end to this process to these crimes or these practices but continue to corrode our insides the time is now! >> reporter: the announcement comes on the same day that new polls showed rousseff's popularity falling to a new low. according to the data poll, 62% of respondents said rousseff's government was bad or terrible. that's the worst ranking for a president since 1992 when president fernando collard was indicted for corruption. there were devil -- there were several pro tests. >> the party can't continue in power. >> report

we begin in brazil with the scandal which has been brewing for some time. this week it moved up a notch. petro's accusations were explosive. the party had received huge kickbacks. among the 54 people who stand accused, a former president and speakers of both chambers of congress. >> the oil giant is the egg is company and is in the grips of the largest scandal brazil has ever seen. on tuesday a former executive said that the president was directly involved scandal. >> i received a share and the workers party another share. maybe $200 million. >> what exactly do the accusations come down to? the scandal affects the oil company and major construction groups. all parties work together. engineering firms are expected of sharing contract and billing them. the ruling workers party with bribes, all said to of happened since the party came to power. >> from 2004 onwards, there was almost an automatic payment of bribes over the contract. reporter: bribes which were allegedly used and could find their way into the pockets of politicians in the senate and the assembly

translator: we have to treat protests in brazil with complete calm. everyone has the right to protest and criticize whoever it may be. there is just one thing that we cannot accept that this turns into violence against other people or anyone's property. be it public or private. >> reporter: government supporters held their own marches on friday. translator: i think the president was elected draekly. the country is suffering problems at the moment. >> reporter: impeachment is unlikely but it's in this climate the president will have to shore up the economy and put it back on the path to boom times. shasta darlington cnn, new york. >> her opponents are expected to take to the streets in protest tomorrow. >>> the fraternity disbanded by the university of oklahoma after video surfaced showing its members chanting racial slurs is now fighting back. the sigma alpha epsilon chapter has hired a high profile attorney who says he's there to protect the first amendment rights of the fraternity members. >> i'm not ruling out a lawsuit. i'm saying that our prefere

in brazil, all the kids would love to be in my shoes. on top of that, we are playing against france, who are great opponents. there is a special rivalry between us. we have only played against them once and we lost 1-0 in 2011. reporter: remembering the 3-0 defeat in the 1998 world cup final in the same stadium, even though he was just a young boy at the time. >> all i can remember was being very sad. i was seven years old. i followed the games played by brazil. the french team was a great one. they deserved to win on that day. times have changed. we are about to play a great game and get the win this time around. reporter: he will be just behind the brazilian forwards. one of the strikers will be name are -- be neymar, who recently took over as team captain. >> it is logical that the leader -- i am now the leader of the team. i am lucky to have the opportunity to play alongside him. he always had that winning mentality. reporter: brazil and france have met on 15 previous occasions. today, they will be looking to restore the win on thurs

there was concern about rainfall in argentina and brazil this year. a little more rainfall seems to be helping their harvest driving down prices of soybeans. but you saw the u.s. department of agriculture cut their forecast for south african production because of a drought going on over there. they are a big supplier to the middle east. it pushed corn prices up a bit. mark: bloomberg's alan bjerga. joining us from washington, alan, thank you so much. the streets smarts alex steel has been following the investment appeal. is that eroding? >> yes. across the board this is all about the fed. gold and the dollar tend to movin' versely. if you have a rising environment that many tends to produce gold. i do want to point out part of this could also include investors. on the flip side demand for gold coins is actually holding up relatively well. the u.s. mint sold more gold coins in march than in february. so it's really in the financial markets where gold is getting fairly destroyed. mark: what's this doing to investors? alex: well it's hurting. at the end

brazil, canada, philippines. also upping their sales by 28%. breathing a sigh of relief across the board. jonathan: caroline hyde, thank you very much. bloomberg confirming what you were thinking. holcim-lafarge, the largest euro m&a deal. we will be speaking to the lafarge ceo. you do not want to miss that. another deal in focus this morning, it is from spain to hear in the u.k. sabadell agreeing to buy tsb banking group for 340 pence a share. let's get out the charles over in madrid. first question i guess, why does sabadell want a piece of tsb? what is in it for them? charles: good morning. what is in it for sabadell is the big issue for spanish banks going forward, diversification. if you are a local spanish bank in spain over the last six or seven years, it has been a tough ride. spanish economy has had a terrible time. the banks have struggled to make money. this is about that not happening again. they are seeking to diversify seeking to make this first big step outside the spanish market. jonathan: you say it is diversification. can we b

jonathan: from brazil to turkey. it is not just a dollar strength story. it is a president that wants to be the central bank governor. what is your take on turkey right now? what does it mean for the lira? guest: the lira has been recovering. the central bank was looking at lower inflation, improved domestic fundamentals. and a narrow current-account deficit. the problem is, we've got elections in june. the president has some interest in getting lower interest rates ahead of the election. some comments he made last week about who the central bank was answering to, i think a nerve investors. they had a meeting yesterday. we probably should expect some more conciliatory remarks. what will the ecb due next thursday? we've got a fed meeting on wednesday. if they cut the rate if they seem to be forced into a rate cut next week, that suggests they are letting the lira go. jonathan: turkish politics something to think about. british politics another thing to think about. looking at sterling against the euro policymakers will be happy to see the pound go through 1

brendan: i had four children with me, what a minivan in brazil is not what a minivan here is in brazil. a what hear is drought, in the area around the airport, they're out of water. tom: out of water. brendan: one day a week there's no water whatsoever where i was two hours outside. water is the only thing they talk about. olivia: although the helps opened when you arrived conveniently for the greeley family and happy to have you back. coming up, the iran nuclear talks resume today and we'll head to tehran to our reporter to see if a deal will be reached. this is "bloomberg surveillance" streaming on your tablet and phone and bloomberg.com. be back in two. tom: good morning. it bloomberg "surveillance." we will have much on the federal reserve throughout the week. olivia: talks between the u.s. and iran are underway in switzerland over the nuclear program. john kerry meeting with the iranian foreign minister. important gaps remain. he is warning that the clock is ticking for a deadline. john kerry had a shop words for that letter of the letter. >> i am not going to apologize for an act

give us more about the demonstrations in brazil, adam? >> reporter: yes, doreen we're holdings here the main newspaper this morning, and you can see the main impact this march across the country has had everywhere. on one of them, it says the it is the biggest protest since 1984, that led to the end of the military regime. now that's not verifiable this time, but that's what they're saying. if you go to every paper they're showing the same thing. an overwhelming people power in the street and they're comparing it to 1984-5, and the strongest comparison was in a rejoe de janeiro paper, one of the biggest papers, and what they say is that march 15th has a new democracy. what that means is that march march 15th was previously known as the end the anniversary of democracy coming back to brazil, and now they're linking that to this new commitment to democracy with a single march impeachment of one president. many in the government would be offended by that saying that the end of military rule was much more important than the end of one preside

and we have created a joint venture, not only in brazil, but the bigger in brazil. we have been doing with them. but also eventually other emerging markets. typically, more muscle. jonathan: i want to talk about portuguese politics. the politics fascinated me. you look at friends, italy, spain a you see the merges of extreme political parties. i look at portugal and i do not see that. antonio mexia: portugal since the revolution, clearly, showing political maturity. we are -- we have experienced these kind of parties a bow for the other was. the traditional parties, social democrats and socialists and people tend to believe the solution will be participation in european union, rebalancing the budgets and all of the situations. also believing in creating new opportunities. a rather common sense approach i believe, quite a wise -- quite wise and positive. jonathan: the final question for you. everybody is so bearish on your. -- on europe the equities, follow the qe plan and you make money. what are you excited about this year? antonio mexia: what i am excited is clear

. >> brazil's supreme court has approved an investigation into some of the country's top politicians, who are accused of taking bribes in exchange for petrobra. >> among the 54 people accused of taking bribes, the former president and speaker of both chambers of congress, and all but one of the governing coalition. investigators alleged private firms pay corrupt officials in order to get lucrative contracts at petrobras the state-owned firm. the president has been cleared of any involvement in the scheme. speaking before the list of names was released, she said her focus is on fixing brazil's struggling economy. >> we're now entering a new phase in confronting the crisis in which a number of different measures will be needed a new trajectory so we can grow. >> but the scandal has shaken the political of establishment and undermineed the president who has just-newly re-elected last year. >> the pressures, the president is under enormous pressure, pressure of public opinion to take this seriously. this is an enormous corruption scandal involving the largest company in brazil that happen

let's kick things off in brazil. gdp numbers released this morning about three hours ago show the country grew and expect early fourth quarter of 2014. -- unexpectedly in the fourth quarter of 2014. big surprise because brazil's president is at struggling with above target inflation at 7% seeking currency at a record budget deficit -- petrobras has agreed to sell oil and natural gas fields in southern argentina the company controlled by -- it's the first divestment sensince management overhaul at petrobras. the fields are in the southern patagonia region of argentina. here in mexico, the world's biggest money manager is buying a 45% stake into pipelines -- industrial pipelines. the investment of hundred million dollars -- in two pipelines. the investment of $900 million. these are the top stories in latin america. mark: thank you so much. that is your latin america report for this friday. up next, encore, your guide to the biggest members of the week -- biggest newsmakers of the week. ♪ mark: welcome back. let's ge

this one in brazil on motorcycles. this video getting a lot of attention. recently posted to the facebook page of a police support group. the guy we're riding with is ace police officer on the road right in front of him another police officer that's tailing behind two suspects who are getting away on their motorcycle. for a very long time they chase them. they're not giving up easily. when you think they're closing in and they make it these guys find a way to speed away. and this goes on for a while longer. >> wonder what are they running from? we see videos from brazil they're stealing bikes, it happens all the time. >> it's our understanding the cops are part of a drug unit. and watch this. right about here you finally get to see the police officers get them to slow down. one of the guys on the motorcycles falls off. he takes off running and trying to get into a residence. on the other side of the street this police officer draws his gun, points it at the rider left on the motorcycle. he is then arrested on the spot. and you see another police officer. >>

what is brazil? jerry: brazil is the country of the future and always will be. brazil is not finding a sustainable way of producing growth. some wonderful companies in brazil but they have not found a way of sustaining national level growth beyond the commodity boom. brendan: hard to draw conclusions about brazil, it is like greece, it is its own special problem. jerry: the most important growth cases china. we can talk for the next week about china. they're probably doing some prudent things, which in the short term does not stimulate global growth. brendan: do you agree with the larry summers these is that chinese growth has no choice but to eventually refer to the main? jerry: they're all it is the obvious. it is not going to become the world economy. the economist arthur lewis' view of what happens to a poor country when it starts running out of cheap labor and saturates rich countries' market is what is occurring in china. the response is appropriate. brendan: this is what they referred to as the middle income trap. jerry: the lewis turning point. brendan:

it falls this march in sao paulo and around brazil on the 30th anniversary, in which brazil ushered in democracy after two decades of military rule. and the irony is that dilma rousseff was tortured by the regime. people are calling for her impeachment. she and her cabinet and others in the workers party were attacked on that very democracy. >> there's hundreds of thousands of people. it is impressive and colourful. there are divisions that may be reflected by the people on the streets. how influential can the people be. it's not long ago that the country voted her back in by democratic process. are the people making their feelings known or is there a possibility of a movement that sees her unseated in some way? >> well they are motivated by two things by the fact that this petrogas scandal in which dozens of politicians in dilma rousseff's coalition has been investigated. they have a chance and she was the chairman of a company during the years in which the scandal takes place. there's no links to her, but they know that she's close to that scandal and are motivated by the fact that t

. >>> hundreds of thousands of protesters have marched in cities across brazil many demanding impeachment of the president and they have anger over the economy, budget cuts and corruption scandal of the state oil giant and adam reports from south palo. >> reporter: a sea of people all squeezed on south palo main avenue at the heart of brazil's financial sector. one of their demands, the impeachment of democratically elected in the second term and sooets of a corruption scandal at the oil company and worried about company that seems weaker everyday. >> brazilian people are taking our money and we don't have anything back only we pay taxes and taxes and taxes and we don't have anything back. >> everything else like rising taxes, you know equal rights to everyone. >> reporter: tens of thousands marched in other cities too along rio de janeiro the calls were the same they want the president out. hundreds of thousands of people have come out to march here on sunday and ironically it's the 30th anniversary of the return of democracy in brazil when after a 20-year military rule they were free of