Brazil’s stocks fell the most among major global benchmarks on concern the country may be cut to junk by a second credit-rating company because of government plans to loosen its fiscal policy. Finance Minister Joaquim Levy and President Dilma Rousseff have already agreed that he will leave the government after the president decided to reduce... Continue Reading →

Wilson Sons Ultratug Offshore, a subsidiary of Brazil Wilson Sons, has renewed lease contract with Petrobras for 2 years for 3 Platform Supply Vessels (PSV's). The PSV's , Gaivota, Albatross and Fragata, had been operating on the spot market since October last, when their contracts expired. All PSV's, 3 thousand tons, operate under Brazilian flag... Continue Reading →

Breaking news - Valor Economico reports that Min. Joaquim Levy and Pres. Dilma Rouseff have agreed to his resignation and that Rouseff has asked to make the transition smooth and discreet as to not upsets the markets. As consequence, the currency devalued almost 2% at the start of business, interest rates are up and the... Continue Reading →

Brazil’s real led declines among the world’s most-traded currencies ahead of an expected announcement that the government will lower next year’s budget target, underscoring its inability to shore up the country’s finances. President Dilma Rousseff’s supporters on the congressional budget committee will introduce an amendment to the 2016 budget bill that would allow the administration to... Continue Reading →

Halliburton Co. and Baker Hughes Inc. will extend the time period to April 30 for closing their pending $26 billion merger as they work to satisfy Justice Department concerns. The U.S. Justice Department told the world’s No. 2 and No. 3 oil service companies that officials aren’t satisfied with Halliburton’s proposals for clearing its purchase... Continue Reading →

Brazil's President Dilma Rousseff will cut a key fiscal savings goal for next year to safeguard a landmark welfare program, a government source with direct knowledge of the matter said on Tuesday, a move that could raise tensions in her economic team. The 2016 primary surplus target, which excludes debt servicing payments, will be cut... Continue Reading →

U.S. antitrust officials aren’t satisfied with Halliburton Co.’s proposals for clearing its purchase of oil services rival Baker Hughes Inc. and don’t expect to make a decision until next year, according to a person familiar with the situation. The companies previously agreed to an extension until Tuesday with the Justice Department over the proposed $26... Continue Reading →