It's not looking good. Here's an update from Mongabay:
(01/19/2012) The combination of deforestation, forest degradation, and the effects of climate change are weakening the resilience of the Amazon rainforest ecosystem, potentially leading to loss of carbon storage and changes in rainfall patterns and river discharge, finds a comprehensive review published in the journal Nature.
Peruvian smugglers traffic illegal rainforest timber from Brazil to America
(01/11/2012) An investigation by Brazil's Federal Police has detailed a significant trade of illegally logged rainforest wood by Peruvian nationals making its way from northern Brazil to the U.S. and Mexico, reports O Globo.
Colonization program remains important driver of deforestation in Brazil
(01/10/2012) Government-subsidized colonization of the Amazon rainforest remains an important driver of forest loss in Brazil, but has mixed economic value, argues a paper published in Biological Conservation.