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BRASILIA: Brazilian President Michel Temer scrapped plans to run for re-election on Tuesday and said he supported his former finance minister, Henrique Meirelles, to stand as the presidential candidate of the ruling Brazilian Democratic Movement (MDB). Temer, whose approval rating is stuck in single digits as Latin America's largest economy slowly emerges from a historic recession, announced his decision at an MDB event. Temer, 77, and Meirelles, 72, have both been polling in the low single digits ahead of the October election. The president's decision was the first of many moves expected to consolidate the presidential race in Brazil, where years of corruption scandals and recession have hurt the chances of traditional parties in a wide-open race. (Reuters)
