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Weatherford International Plc shareholders are asking the company for one thing this quarter: Please, just be a little more boring. Over the last decade, the oilfield-services provider has missed analyst estimates 20 times, settled a corruption probe and spent more than $150 million in professional fees to fix errors in its accounting. And last month, it... Continue Reading →
Brazil’s real fell the most in the region on speculation the government will change this year’s budget target to a deficit from a surplus, highlighting its inability to shore up the country’s finances. All four of Brazil’s largest newspapers now report that the government will revise this year’s budget target for a third time, forecasting... Continue Reading →
For the second time in Brazil’s 30-year-old democracy, the country finds itself lurching toward the impeachment of its president. A group of high-profile lawyers plans to file a request Wednesday to begin the proceedings, nudging President Dilma Rousseff closer to being ousted after months of will-she or won’t-she-be-impeached speculation that has paralyzed Congress, rattled financial... Continue Reading →
Brazil's government is considering slashing its key fiscal goal to a deficit of around 50 billion reais ($12.9 billion) this year as revenues plummet due to the ongoing recession, three sources with direct knowledge of the talks said on Tuesday. That primary budget deficit would be equal to 0.85 percent of the country's gross domestic... Continue Reading →
Eduardo Cunha on Oct. 19 Photographer: Evaristo Sa/AFP/Getty Images A group of high-profile lawyers, including a former member of the ruling Workers’ Party, will file a request on Wednesday to begin impeachment proceedings against Brazilian President Dilma Rousseff, alleging she continued to doctor fiscal accounts this year. The petition, which was originally expected Tuesday, is... Continue Reading →
Brazil’s real rose as volatility increased to the highest level in almost three weeks amid optimism that Finance Minister Joaquim Levy will stay in his post, offsetting concerns about the outlook for Latin America’s largest economy amid political strife. The real advanced 0.9 percent to 3.8529 per dollar at 9:40 a.m. in Sao Paulo. The currency is... Continue Reading →
Oct 19 (Reuters) - Brazilian construction group Andrade Gutierrez said on Monday that it has no intention of selling its stake in Brazil's CCR SA, an operator of toll roads, as reported earlier by Estado de S.Paulo newspaper. "The company denies that it has made any type of offer to market agents in relation to... Continue Reading →
Halliburton Co., the world’s largest fracking services provider, said it had a third-quarter loss as the volatile North American oil market continued to tumble. The company reported a loss of $54 million, or 6 cents a share, compared with net income of $1.2 billion, or $1.41, a year earlier, the Houston-based company said in a... Continue Reading →
Brazil's federal police have opened a preliminary investigation into alleged irregularities in President Dilma Rousseff's re-election campaign last year. According to the media office of the federal police, the probe was opened on Oct. 7, following a decision by Justice Gilmar Mendes of the Superior Electoral Court to look into allegations of wrongdoing by the... Continue Reading →
Brazil’s Finance Minister Joaquim Levy complained to President Dilma Rousseff about his treatment among political allies, but fell short of stepping down. He said during a meeting with his boss that attacks from her supporters are making his job difficult, according to a government official with direct knowledge of the discussion, who asked not to be... Continue Reading →
Brazil Energy Insight 