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A measure of its volatility has fallen the most among the world’s major currencies in the past month after reaching a four-year high in September. Price swings are abating as calls for President Dilma Rousseff’s impeachment ebb, lessening concern about political chaos in Brazil. Yet analysts say this optimism is overdone and that the momentary... Continue Reading →
Petrobras's poor third-quarter results, weaker oil prices and reports that the Brazilian finance minister may step down sent the country's bonds on another rollercoaster ride on Friday. Petrobras bonds were off the intra-day low Friday afternoon but still as much as 1.5 points down on the day after the state-owned oil company posted a R$3.76bn... Continue Reading →
Friday 13, 2015 English presentation of the Petrobras Webcast 3Q, 2015 Webcast-3T15-Ingles
Newspaper Valor Economico’s real-time news service reported that Rousseff has not yet decided on a replacement for Levy, and there is no set date for his exit. The new minister would not be totally autonomous, the news report says without disclosing how it got the information. The currency also declined as slowing credit growth in... Continue Reading →
Rio de Janeiro – November 12, 2015 - THIRD QUARTER OF 2015 RESULTS - Reviewed by independent auditors, stated in millions of Reais, prepared in accordance with International Financial Reporting Standards - IFRS issued by the International Accounting Standards Board – IASB (a free translation of the original in Portuguese). . Net income was R$ 2,102... Continue Reading →
Petroleo Brasileiro SA said its net loss narrowed in the third quarter as higher domestic fuel prices softened the blow from a global energy slump. The net loss of 3.8 billion reais compared with a loss of 5.3 billion reais a year earlier, the state-controlled Rio de Janeiro-based oil producer, known as Petrobras, said Thursday. Read... Continue Reading →
The world’s six largest publicly traded oil producers have more than a half-trillion dollars in stock and cash to snap up rival explorers. Exxon Mobil Corp. tops the list with a total of $320 billion for potential acquisitions. Chevron is next with $65 billion in cash and its own shares tucked away, followed by BP Plc... Continue Reading →
In Brazil, the push to oust President Dilma Rousseff has shifted, as often happens in politics, away from the corruption scandal that first landed her government in trouble. Impeachment calls are now focused on her handling of fiscal accounts, and that is perhaps fitting since few problems in Brazil rank higher than its exploding budget... Continue Reading →
Brazil’s real declined to the lowest level this month amid renewed speculation Finance Minister Joaquim Levy may leave his post, while increased bets that the Federal Reserve will raise rates in December is hurting demand for emerging-market assets. The real dropped 0.5 percent to 3.8181 percent at 9:38 a.m. in Sao Paulo, the weakest since... Continue Reading →
Verde Asset Management, Brazil's largest hedge fund, stepped up purchases of state-controlled oil producer Petróleo Brasileiro SA bonds in October to take advantage of high yields, but warned that the company is not acting with sufficient urgency to cut debt. In a monthly letter to investors on Monday, money managers led by Luis Stuhlberger said... Continue Reading →
