Brazil's suspended House speaker, Eduardo Cunha, defended himself before an ethics committee on Thursday, a day after the appointment of his ally as leader of the government coalition in the chamber showed the veteran lawmaker's enduring political sway. The Supreme Court indefinitely suspended Eduardo Cunha this month on charges of obstructing a corruption investigation, just... Continue Reading →

Technip SA and FMC Technologies Inc. agreed to merge in an all-stock deal, creating a $13 billion oil-services company following the worst crude-market collapse in a generation. The combination will give Technip investors two shares in the new business for every Technip share held, while FMC investors will get one, the companies said Thursday. They... Continue Reading →

General Electric Co.’s top executive sees power generation and renewable energy buoying profits as the industrial giant struggles with persistent challenges in the oil and gas market. The non-petroleum energy units could boost sales by at least 10 percent this year as the company sees “strong” order prospects for equipment and services, Chief Executive Officer... Continue Reading →

Apache Corp. jumped as much as 5.6 percent after a website reported Occidental Petroleum Corp. planned to acquire the oil and gas explorer. Occidental said it didn’t know anything about the report. Apache shares rose 3.8 percent to $57.23 at 10:06 a.m. in New York, after earlier reaching $58.21, the highest since July 1. The... Continue Reading →

Brazil’s Acting President Michel Temer is studying the sale of state assets to shore up public accounts, as well as an audit of the country’s largest savings bank, said a government official with direct knowledge of the matter. A government task force will consider selling stakes in companies such as power utility Furnas Centrais Eletricas... Continue Reading →

The New York Stock Exchange suspended trading of Brazil’s state-owned power utility Eletrobras in the U.S. Wednesday and began delisting procedures after the company said it would miss a Wednesday deadline to submit its 2014 financial results. Eletrobras has already delayed the filing to the U.S. Securities and Exchange Commission three times as it conducts internal investigations... Continue Reading →

Brazil’s new central banker Ilan Goldfajn comes to the job with a sober view on Latin America’s largest economy, saying approval for recovery measures will be hard to come by. As chief economist for Brazil’s largest bank Itau Unibanco Holding SA, Goldfajn expected a deeper economic contraction than the 3.7 percent median forecast by 41 economists... Continue Reading →

Brazil's new Minister of Transparency and Oversight said he was suspending negotiations of leniency agreements sought by engineering and construction companies caught up in a massive corruption investigation. The minister, Fabiano Silveira, said in a Globo News television interview aired on Tuesday that interim President Michel Temer's government wants prosecutors and the federal audit court... Continue Reading →