Brazil's President Dilma Rousseff will cut a key fiscal savings goal for next year to safeguard a landmark welfare program, a government source with direct knowledge of the matter said on Tuesday, a move that could raise tensions in her economic team. The 2016 primary surplus target, which excludes debt servicing payments, will be cut... Continue Reading →

U.S. antitrust officials aren’t satisfied with Halliburton Co.’s proposals for clearing its purchase of oil services rival Baker Hughes Inc. and don’t expect to make a decision until next year, according to a person familiar with the situation. The companies previously agreed to an extension until Tuesday with the Justice Department over the proposed $26... Continue Reading →

Colombia’s state-controlled Ecopetrol SA is targeting reduced production next year as the company slashes its investment budget amid falling oil prices. The combined business group is targeting output of 755,000 barrels of oil equivalent per day next year, down from a 2015 target of 760,000 barrels, Ecopetrol said in a statement Monday. The board approved an investment... Continue Reading →

To the Editor: Re article entitled, “Brazil’s Debt King: The Professor Who Oversaw a Boom Gone Wrong” (Dec. 10): Placing a group of facts together, even when they are true, doesn’t necessarily lead to a truthful or balanced understanding. That’s what Bloomberg did in its reporting. The story presents a distorted and biased view of... Continue Reading →

Dec 10,2015/Reuters Marcelo Odebrecht, the former chief executive of Grupo Odebrecht, has formalized his departure from Latin America's largest engineering group after six months in prison on corruption charges, the Brazilian company said on Thursday. He also stepped down as chairman of petrochemical producer Braskem SA, Odebrecht Oleo e Gas, Odebrecht Realizações Imobiliarias and Odebrecht... Continue Reading →