Multi-point price drops in bonds issued by Odebrecht dominated LatAm credit markets' attention on Friday following news that the Brazilian construction firm's CEO had been arrested. Read More
Odebrecht Bonds Hit by Arrest
Update and New Implications – Odebrecht CEO Arrested by Brazilian Federal Police
The arrest of 46-year-old Odebrecht, who has personal ties to former President Luiz Inacio Lula de Silva, could bring the scandal closer to the political heart of the ruling Worker's Party, already weakened by Brazil's largest ever corruption investigation known as "Operation Car Wash."
Brazil’s Real Falls on Poor Economic Performance
The real fell the most among major currencies as Brazil braced for its worst recession in 25 years after the central bank reported that the economy contracted more than forecast in April. Read More
Brazil Economic Activity in April Points to Recession
Economic activity in Brazil fell sharply in April from March, worse than already negative market estimates and showing still more evidence the once-booming economy is heading toward a recession. The Brazilian central bank's IBC-Br economic activity index , a gauge of farming, industry and services activity, fell 0.84 percent, more than double market expectations for... Continue Reading →
The New Hero at Petrobras – Mr. Fix-It Bendine
For Petrobras investors battered by years of mismanagement, a new chief executive officer went from villain to hero in a matter of weeks. The critical question now: Can he keep his reformist streak going -- and with it a strong rally in Petrobras shares? Read More
CEO’s of Odebrecht and Andrade Guitierrez are detained by Federal Police
The heads of two of Brazil’s largest construction companies were detained by police on Thursday as part of a broader probe into corruption at Petrobras, according to local media. Marcelo Odebrecht and Otavio Azevedo, heads of Construtora Norberto Odebrecht and Andrade Gutierrez construction companies, respectively, were among the 12 people judges had issued detainment and... Continue Reading →
Petrobras Divestment Rumors – Pre Salt Blocks
Petroleo Brasileiro SA is accelerating a divestment program for offshore exploration blocks and intends to complete the first group of sales in the coming months in a bidding process, said three people with knowledge of the plan. Read More
Rise of Debt Collection Companies – Another Sign of Brazil’s Downturn
Investors know times are tough in Brazil when debt-collection companies are among the best investments. It’s not hard to see why it might be a good time to invest in debt collection. Economists say Latin America’s largest economy is heading for its deepest recession in 25 years, and households are more indebted than ever before.... Continue Reading →
More Petrobras Divestment Rumors – Now is Sale of Biofuel Plants
As the press and market tries to guess the Petrobras Divestment Plan, various rumors are being published from "sources close to the company". Read More
Petrobras- Clarification on News about Gaspetro Divestment
Clarification on News: Divestments 06/17/2015 Rio de Janeiro, June 17th, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with OFFICIAL LETTER n.º 184/2015/CVM/SEP/GEA-1, which requests clarifications as follows: OFFICIAL LETTER n.º 184/2015/CVM/SEP/GEA-1 “We refer to the article released on this date in the newspaper “O Estado de São Paulo”, entitled: “Petrobrás negotiates selling part of... Continue Reading →
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