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Dealmaking in Brazil is finally mounting a revival. Mergers and acquisitions in the country increased 35 percent to $16.6 billion in the third-quarter, compared with the same period last year, led by a spate of energy deals involving state-controlled Petroleo Brasileiro SA. Even more striking were the $11.1 billion in inbound transactions, according to data... Continue Reading →
September 29, 2016 admin The tentative agreement for Opec to cut its production is the best news the world’s oil producers have had all year. When ministers from the oil cartel announced in Algiers on Wednesday evening that they had agreed a production target lower than their current output, they signalled they were prepared to... Continue Reading →
The real slipped as the U.S. economy advanced more than forecast, bolstering the dollar and dimming appetite for the world’s most-profitable carry trade. In a carry trade, investors borrow money in a low-yielding currency to invest it in a country with higher yields. Brazil’s benchmark interest rate is 14.25 percent -- more than 28 times... Continue Reading →
A bill ending the requirement that Brazil's state-controlled oil company Petrobras lead all new projects in the country's Subsalt Polygon region should become law by the end of the year, the president of oil industry association IBP said on Wednesday. Petroleo Brasileiro SA, as the company is formally known, has repeatedly said its debt and... Continue Reading →
OPEC agreed to cut production for the first time in eight years, according to a delegate briefed on the matter, sending oil prices more than 6 percent higher as Saudi Arabia and Iran wrong-footed traders who expected a continuation of the pump-at-will policy the group adopted in 2014. In two days of round-the-clock talks in Algiers,... Continue Reading →
Analyst says investor confidence is slowly returning A vendor, left, handed a shopper change at a street market in São Paulo in July. Brazil’s expansion could surprise on the positive side in 2017, a Moody’s analyst said Tuesday. PHOTO: BLOOMBERG NEWS By LUCIANA MAGALHAES Sept. 27, 2016 SÃO PAULO—Brazil’s economy has probably started to rebound... Continue Reading →
Brazilian Senator Gleisi Hoffmann and her husband, who both served in the ousted government of former President Dilma Rousseff, were indicted on Tuesday by the Supreme Court on corruption and money laundering charges in the Petrobras graft investigation. Hoffmann, who was chief of staff to Rousseff during her first term, and husband Paulo Bernardo, will... Continue Reading →
| Tue Sep 27, 2016 / Reuters The logo of Brazil's state-run Petrobras oil company is seen on a tank in Cubatao, Brazil, April12, 2016. REUTERS/Paulo Whitaker Mexican company Alpek said on Tuesday it had received a 30-day extension for exclusive talks to purchase petrochemical units of Brazilian state oil firm Petrobras (PETR4.SA). Petrobras in... Continue Reading →
Oil services company Weatherford International LLC [WEATH.UL] (WFT.N) has agreed to a $140 million penalty to settle charges it inflated earnings by using deceptive income tax accounting, the U.S. Securities and Exchange Commission said on Tuesday. Two Weatherford senior accounting executives at the time also agreed to settle charges that they were behind the scheme,... Continue Reading →
Brazil’s real declined as speculation that economic reforms may be harder to push through congress as a corruption investigation ensnares top politicians outweighed a rally in commodities. The real lost 0.1 percent to 3.2478 per dollar at 4:21 p.m. in Sao Paulo after strengthening as much as 0.7 percent. In a new phase of the... Continue Reading →
