State-controlled Petróleo Brasileiro SA has entered exclusive talks with Brookfield Asset Management Inc (BAMa.TO) over the sale of natural gas pipeline unit Nova Transportadora do Sudeste SA, as part of a plan to dispose of $15 billion of non-essential assets by year-end. In a Thursday securities filing, Petrobras (PETR4.SA), as Brazil's state oil producer is... Continue Reading →
Brazil’s Meirelles Promises Less Spending, Realistic Goals
Brazil must rein in on public spending, bring down debt levels and propose realistic fiscal targets to win back investor trust, Finance Minister Henrique Meirelles said Friday. Meirelles, who on Thursday took over as finance minister in Acting President Michel Temer’s new cabinet with the task of reviving Latin America’s largest economy, said he would... Continue Reading →
Brazil Real Joins Global Rout as Meirelles Skips Plan Details
Brazil’s real joined a selloff in global currencies against the dollar as newly appointed Finance Minister Henrique Meirelles refrained from giving details on how to tackle the nation’s ballooning fiscal deficit. The real almost erased its gain for the week as the U.S. currency climbed after retail data re-ignited speculation the Federal Reserve may raise... Continue Reading →
Brazil’s Newest Club Is All Boys and They’re Running the Country
Brazil’s new leader, Michel Temer, seeking to unite a splintered nation, has selected a cabinet of ministers from across this sprawling country -- young, old, northerners, southerners. But of some two dozen named so far, all are men and none are black. That has drawn instant and intense criticism. "After the governments of the Workers’... Continue Reading →
Petrobras Corruption Investigation Said to Ramp Up in U.S.
U.S. authorities are investigating more than a dozen companies as part of an international bribery probe that has already led to more than 150 arrests in Brazil, according to people familiar with the matter. Prosecutors in the U.S. and Brazil are effectively dividing the investigation to suit their respective strengths as they pursue suspected graft... Continue Reading →
Lula’s Central Banker Returns to Take on Hardest Job of His Life
Henrique Meirelles is one of Brazil’s most accomplished financial officials, a former president of BankBoston Corp. and President of the Central Bank during the country’s acclaimed period of growth and stability. But he will have to deliver fast to pull the nation out of its worst recession in a century and win back investor confidence.... Continue Reading →
Brazil’s Mega-Scandal Hits Its Biggest Lender
Brazilians rarely do things small. They boast Latin America's biggest economy but also own its worst recession, a seemingly bottomless corruption scandal and a government allegedly so practiced at disguising budget shortfalls that President Dilma Rousseff was ordered to step aside early Thursday morning. She'll now face an impeachment trial in the Senate; few analysts expect she'll... Continue Reading →
Brazil’s Rousseff vows to fight on after Senate vote to suspend her
Suspended Brazilian President Dilma Rousseff vowed on Thursday she would fight to prove her innocence after the Senate voted to put her on trial for breaking budget laws, a historic decision fueled by deep recession and a sprawling corruption scandal. Rousseff, a leftist in office since 2011, was replaced by her vice president, centrist Michel... Continue Reading →
Brazil Acting President Temer Names Cabinet on Rousseff Ouster
Brazil’s new acting President Michel Temer moved swiftly to form his cabinet, appointing a successful inflation-fighter as finance minister only moments after Dilma Rousseff stepped aside, ousted by a Senate vote in favor of her impeachment. Temer, a 75 year-old constitutional lawyer appointed Henrique Meirelles, a former central bank chief and Wall Street banker, to... Continue Reading →
Buy on the rumor and sell on the fact…
Brazilian real shrugs as Senate votes for Dilma Rousseff impeachment Muted early FX reaction suggest market had already priced in the vote Brazil's Senate voted early on Thursday to impeach President Dilma Rousseff © EPA by: Roger Blitz The Brazilian real, the best-performing major currency against the dollar this year, has failed so far to... Continue Reading →
Brazil Energy Insight 