Petrobras Jitters… March 2, 2015 The Petrobras corruption investigation will enter a new phase this week as the Attorney General of the republic will bring forth charges against politicians mentioned as being on the take during the investigation up to now. The list of politicians is vast, the list apparently reaches 39 including a former... Continue Reading →
As Brazil Tightens Belt, Other Woes Follow
As Brazil Tightens Belt, Other Woes Follow President Dilma Rousseff’s austerity measures are angering supporters and exacerbating an economic slowdown Brazilian Finance Minister Joaquim Levy, left, consults with President Dilma Rousseff this past week in Brasília, the country’s capital.PHOTO: ASSOCIATED PRESS By PAULO TREVISANI And ROGERIO JELMAYER Wall Street Journal Feb. 27, 2015 6:11 p.m. ET ... Continue Reading →
Petrobras Likely to Get Government Support If Needed, Fitch Says
Petrobras Likely to Get Government Support If Needed, Fitch Says By Filipe Pacheco Paula Sambo 5:09 PM BRT February 27, 2015 (Bloomberg) -- Brazil will probably provide funding to Petroleo Brasileiro SA if the state-controlled oil producer remains unable to borrow from banks or sell bonds amid an ongoing corruption scandal, according to Fitch... Continue Reading →
Petrobras Credit Traders Signal Brazil Support Not Enough
Petrobras Credit Traders Signal Brazil Support Not Enough By Peter Millard Filipe Pacheco 9:35 PM BRT February 26, 2015 (Bloomberg) -- As the fallout from a widening bribery probe plunges Petroleo Brasileiro SA into junk, derivatives traders are signaling that government support alone may not be enough to stave off more ratings cuts. Compared with... Continue Reading →
BRAZIL Latin America’s erstwhile star is in its worst mess since the early 1990s
Brazil In a quagmire Latin America’s erstwhile star is in its worst mess since the early 1990s Feb 28th 2015 | From the print edition The Economist Brazil’s economy is in a mess, with far bigger problems than the government will admit or investors seem to register. The torpid stagnation into which it fell in 2013 is... Continue Reading →
Brazil State Bank Petrobras Rescue Seen as Blow to Credibility
Brazil State Bank Petrobras Rescue Seen as Blow to Credibility By David Biller 3:41 PM BRT February 26, 2015 (Bloomberg) -- State bank loans for Brazil’s beleaguered state-run oil producer would be a blow to the Finance Ministry’s efforts to shore up market confidence and avoid a sovereign downgrade, say analysts interviewed by Bloomberg. Brazil’s... Continue Reading →
Petrobras Seeks Funds as BofA Sees Need for Asset Sales
Petrobras Seeks Funds as BofA Sees Need for Asset Sales By Peter Millard 10:08 AM BRT February 26, 2015 (Bloomberg) -- Petroleo Brasileiro SA, the world’s most-indebted publicly traded oil company, said it’s seeking financing options and studying cost cuts following a downgrade to junk by Moody’s Investors Service. Petrobras, as Brazil’s state-run oil... Continue Reading →
Downgrade of Brazil Oil Giant Stirs Wider Concern
Downgrade of Brazil Oil Giant Stirs Wider Concern Moody’s move to lower Petrobras’s debt to junk status sparks worries for broader economy WALL STREET JOURNAL By WILL CONNORS and PAULO TREVISANI Updated Feb. 25, 2015 9:35 p.m. ET SÃO PAULO—A decision by a major credit-rating firm to downgrade to junk status the debt of Petróleo Brasileiro SA is... Continue Reading →
Petrobras Rig Bust Threatens Rolls-Royce Deal: Corporate Brazil
Petrobras Rig Bust Threatens Rolls-Royce Deal: Corporate Brazil By Christiana Sciaudone Peter Millard 12:00 AM BRT February 26, 2015 (Bloomberg) -- Rolls-Royce Plc and General Electric Co. are among oil-industry suppliers whose contracts in Brazil may be casualties of the spreading corruption scandal involving Petroleo Brasileiro SA. The two companies were set to make parts... Continue Reading →
Brazil: 10 good reasons to think the two-month-old government will go
Brazil: 10 good reasons to think the two-month-old government will go Jonathan Wheatley Financial Times So much is going wrong in Brazil that it is hard to keep up. For years, critics have accused the government of incompetence. Now its actions are looking catastrophic – so much so that there are good reasons to think... Continue Reading →
