Former Petroleos Mexicanos Chief Executive Officer Emilio Lozoya denied participating in an alleged bribery scheme involving Brazilian construction company Odebrecht SA in Mexico, after Veja magazine reported the executive was mentioned in connection with an ongoing corruption probe. "I haven’t requested nor have I received illegal money," Lozoya said in an emailed response to questions... Continue Reading →

Brazil slashed interest rates to their lowest in over two years on Wednesday, accelerating the pace of its rate-cutting cycle to revive an economy still reeling from its deepest recession ever. In a unanimous vote, the central bank's 9-member monetary policy committee, known as Copom, decided to lower its benchmark Selic rate by 100 basis... Continue Reading →

Brazil's President Michel Temer urged lawmakers on Wednesday to push ahead with business as usual, a day after a Supreme Court justice ordered corruption probes into 98 politicians, including leading legislators and a third of his cabinet. Temer avoided commenting on the unprecedented wave of investigations triggered by plea bargain testimony from executives at engineering... Continue Reading →

Bonds issued by Venezuela’s state oil company rallied after the country made $2.2 billion in payments on notes that matured Wednesday. The $1.1 billion of notes from Petroleos de Venezuela that come due in seven months gained 2.1 cents to 87.3 cents on the dollar as of 3:17 p.m. in New York. The payment, which... Continue Reading →

Brazil's central bank is widely expected to speed up monetary easing on Wednesday, taking advantage of slowing inflation to try to revive an economy still struggling with its deepest recession on record. All but one of the 47 economists polled by Reuters expected the bank to cut its benchmark Selic rate BRCBMP=ECI by 100 basis... Continue Reading →

A Supreme Court justice dealt President Michel Temer and Brazil's political elite a heavy blow on Tuesday by ordering investigations into eight cabinet ministers and dozens of lawmakers allegedly linked to the country's biggest corruption scandal. The list of names under investigation released by Justice Edson Fachin read like a Who's Who of Brazilian politics,... Continue Reading →

/js/libs/html5shiv-printshiv.js SYDNEY--(BUSINESS WIRE)--Speedcast International Limited (ASX: SDA), the world’s most trusted provider of highly reliable, fully managed, remote communication and IT solutions, today announced it has won two new systems integration projects with a leading fabricator for the oil and gas industry. In both contracts, Speedcast has been named telecoms systems integrator, responsible for all... Continue Reading →

Dutch offshore shipbuilder Damen has agreed to buy the Keppel Verolme shipyard from Singapore’s largest rig builder, Keppel Offshore & Marine. Keppel said the proposed sale comes after a strategic review and as part of the company’s efforts to optimize its operations and rationalise its global network of yards. “Keppel O&M continues to see opportunities in... Continue Reading →