The resignations come after more than two weeks of protests rocked Ecuador, leading to at least eight deaths and severely impacting the country's oil industry, its main source of income. Mexico president presents bill to eliminate daylight saving time Mexico's president said he has sent a bill to Congress to eliminate daylight saving time, with the government saying the time change was unpopular and did not generate many benefits for the country. Lopez Obrador has long spoken out against daylight saving time, which was adopted nationwide in 1996 to closely follow the time change in the United States.
Bolsonaro, who faces an uphill re-election bid in October amid high inflation and elevated fuel prices, also said he and Lira had discussed opening a congressional investigation into Petrobras' board of directors. Matheus Spiess, an economist at Empiricus, said the move was "clearly negative." "We've already had these shocks during Bolsonaro's government, but lately they have been quite stressful," Spiess said. But Ilan Arbetman, an analyst at Ativa Investimentos, said the move may support Petrobras' shares by decreasing political pressure on the firm and alleviating ongoing uncertainty.
Brazil s state oil major Petrobras has warned the government that the country could slip into a diesel shortage this year unless the company is allowed to sell the fuel at market prices
Brazil's Petrobras posted a first-quarter net income that beat forecasts on Thursday, just minutes after Brazilian President Jair Bolsonaro railed against the state-run oil company's profitability, saying its executives had no sympathy for ordinary people.