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The price of crude sold by OPEC members slid below $30 a barrel, the lowest level in almost 12 years, as turmoil in Chinese markets deepened the global commodities rout. The daily basket price of crudes produced by the 13 members of the Organization of Petroleum Exporting Countries fell to $29.71 a barrel on Wednesday,... Continue Reading →
Latin America’s economy will stagnate in 2016 as commodity-dependent countries such as Brazil and Venezuela drag down the entire region, offsetting a positive performance in Mexico, the World Bank forecast. Output in Latin America and the Caribbean will be flat this year, down from a 2.1 percent growth forecast last June, according to the World... Continue Reading →
Wed Jan 6, 2016 Reuters Jan 6 Brazilian engineering firm UTC Engenharia S.A. has renegotiated 1.2 billion reais ($300 million) of debt with banks, the first engineering firm caught in a massive construction scandal to do so, newspaper Folha de S. Paulo reported on Wednesday. After a year of negotiations, four banks agreed to extend... Continue Reading →
Mon Jan 4, 2016 Brazil's Lula summoned to testify in bribery case Reuters Brazil's former President Luiz Inacio Lula da Silva reacts during a meeting with Rio de Janeiro's Governor Luiz Fernando Pezao in Rio de Janeiro, Brazil December 3, 2015. REUTERS/RICARDO MORAES Former Brazilian President Luiz Inacio Lula da Silva was summoned to testify... Continue Reading →
Jan 4 Brazil returned to a trade surplus in 2015 as the worst recession in 25 years and a slump in the real currency damped demand for imports in Latin America's largest economy, data showed on Monday. Brazil posted a trade surplus of $19.681 billion for last year, rebounding from a deficit of $4 billion... Continue Reading →
With crude prices at 11-year lows, the world's biggest oil and gas producers are facing their longest period of investment cuts in decades, but are expected to borrow more to preserve the dividends demanded by investors. At around $37 a barrel, crude prices are well below the $60 firms such as Total (TOTF.PA), Statoil... Continue Reading →
Brazil’s real led global declines as data showing weakness in the nation’s top trading partner added to concern a recession in Latin America’s largest economy will drag on. The real slid 2.3 percent to 4.0431 per dollar at 9:51 a.m. in Sao Paulo, on course for the weakest close in three months. The decline was the... Continue Reading →
Brazil analysts expect a deeper recession this year than previously forecast, as economic activity and confidence sink amid a political crisis. Latin America’s largest economy will shrink 2.95 percent this year, according to the weekly central bank survey of about 100 economists, versus a prior estimate of a 2.81 percent contraction. It was the 13th straight... Continue Reading →
Country’s best-known political figure fights to preserve his legacy and rally his party amid a welter of corruption allegations Mr. da Silva spoke earlier this month at a conference in Berlin. PHOTO: MARKUS HEINE/NURPHOTO/ZUMA PRESS By REED JOHNSON and ROGERIO JELMAYER/WSJ Updated Dec. 29, 2015 5:29 p.m. ET SÃO PAULO—Brazilians are hearing Luiz Inácio Lula da Silva do something he rarely... Continue Reading →
Disaster looms for Latin America’s biggest economy Jan 2nd 2016 | From the print edition AT THE start of 2016 Brazil should be in an exuberant mood. Rio de Janeiro is to host South America’s first Olympic games in August, giving Brazilians a chance to embark on what they do best: throwing a really spectacular party. Instead,... Continue Reading →
