Odebrecht SA's former chief executive Marcelo Bahia Odebrecht has told prosecutors that Brazilian President Michel Temer asked for a 10 million-real ($3 million) political contribution from the company, Folha de S. Paulo reported on Wednesday. The newspaper report did not say whether the alleged donation, which it said was requested by Temer and his Chief... Continue Reading →

Brazil's President Michel Temer called U.S. President-elect Donald Trump on Tuesday, agreeing to work together to improve business relations between the two largest economies in the Americas, a statement from Temer's office said. Brazil is keen to explore business opportunities that could open up if Trump follows through on campaign promises to rewrite a trade... Continue Reading →

  The end of the year was accompanied by good news for the naval sector. The Merchant Marine Fund approved the priority order of R $ 1 billion for the construction of six PSV’s (Platform Support Vessels)  with Bram Offshore. The MMF board also approved R $ 27.17 million for Navigation Alliance, which will build... Continue Reading →

The man poised to replace Rex Tillerson as the leader of America’s most influential energy giant helped transform Exxon Mobil Corp.’s refining business from a poor cousin of oil production to the primary profit generator. Darren Woods, the company’s refining boss since 2012, may be named the next chief executive officer after Tillerson was picked as secretary... Continue Reading →

Brazilian senators on Tuesday passed the main text of a 20-year public spending cap proposed by President Michel Temer to control a ballooning budget deficit, a crucial step in his plan to rescue Brazil's stalled economy. The Senate approved the spending ceiling by a 53-16 margin, though leftist opponents of the austerity measure sought to... Continue Reading →

Brazilian prosecutors and legal advisers of OAS SA are resuming talks for a plea bargain deal linked to the engineering group's participation in a massive corruption scandal, a person briefed on the matter said Tuesday. The talks that could lead to formal negotiations for a plea deal for OAS and several company executives may take... Continue Reading →

  President Michel Temer, fighting for survival over corruption allegations against him and his government, is planning new measures to jump start Brazil's stalled economy, improve his dismal approval ratings and stifle calls for his resignation. The stimulus measures, to be unveiled this week, include steps to relieve indebted consumers and also force credit card... Continue Reading →

The Switzerland attorney general’s office is shifting its focus to banks operating in the country as it continues to investigate Brazil’s bribery scandal, after plea deals with individual executives provided fresh insights into how the illicit funds flowed through the financial system. Attorney General Michael Lauber said in an interview that he’s reviewing how Swiss banks... Continue Reading →