Protesters jeered Brazil's new President Michel Temer on Wednesday as he participated in the county's Independence Day parade in Brasilia and the opening ceremonies of the Paralympics in Rio de Janeiro, his first official events since taking office on Aug. 31. Protesters at the events and in nearly a dozen other state capitals across Brazil were shouting "Temer Out" and "Usurper". Despite the early demonstrations, markets have given Temer and his economic team the benefit of the doubt, for now. Brazil's real and main stock index have gained nearly 3% since Rousseff's ouster, even as a new corruption scandal hit the government last week. Investors also expect Temer to push through unpopular and difficult reforms of the country's bloated pension system, burdensome tax code and inflexible labor laws.

Source: dna September 08, 2016 09:33 UTC