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Brazil has a “For Sale” sign in its front yard. Saddled with debt and an economic downturn, companies from builders to miners are opening their doors to bargain hunters. The government, aiming to win back investors and stave off a ratings downgrade, may back as much as 20 billion reais ($6.3 billion) in IPOs by... Continue Reading →
| Wed Jul 8, 2015 8:28am EDT Fitch: Europe Credit Investors See EM Risk Contagion via Brazil (The following statement was released by the rating agency) LONDON, July 08 (Fitch) European credit investors see more possibility of contagion from emerging market risks via Brazil than other major emerging markets (EMs), according to Fitch Ratings' latest... Continue Reading →
The economic and political crisis now engulfing Latin America's biggest economy is prompting politicians, economists and ordinary Brazilians to consider what once seemed unthinkable: that President Dilma Rousseff, re-elected less than nine months ago, might not finish her second term, which runs to 2018. Read More
Royal Dutch Shell Plc obtained regulatory approval from Brazil to buy BG Group Plc, clearing another antitrust hurdle to completing the $70 billion acquisition. Read More
Even with the oil market in a funk again, producers are adjusting and Precision Drilling Corp. sees the potential for more spending by customers in the second half. Canada’s largest drilling services company sees some room for the North American rig count to rebound as customers restart wells and upgrade equipment after cutting costs, Chief... Continue Reading →
The real declined to a three-month low as Greece’s economic crisis damped the allure of emerging-market assets and contributed to a drop in prices for Brazil’s commodity exports. The currency dropped for a third straight day, slumping 1.4 percent to 3.1810 per dollar at 11:28 a.m. in Sao Paulo, the weakest level on a closing... Continue Reading →
Brazilian President Dilma Rousseff told newspaper Folha de S. Paulo in an interview published Tuesday that she plans to finish her term and continue with efforts to narrow the budget deficit in spite of growing calls among opponents for her resignation. When asked repeatedly by Folha reporters about heightening pressure for her to step down... Continue Reading →
Cutting 16 percent of its workforce and reducing its fleet to 23 vessels from 36 will help the company reach a cost-savings target of 830 million euros ($915 million), Paris-based Technip said in a statement on Monday. The company will take a one-time charge of 650 million euros for the restructuring, mostly in the second... Continue Reading →
Reliable market sources report that Petrobras is calling on suppliers with existing and renewable contracts to negotiate new terms and conditions. Petrobras is looking for 20% discounts across the board for the renewal of some service contracts.
BP Plc’s $18.7 billion U.S. legal settlement is being cheered by investors and analysts as it ends five years of financial uncertainty. It also makes the British oil producer a more attractive takeover target. Potential buyers, held back by unquantifiable liabilities related to the company’s 2010 Gulf of Mexico spill, may find a slimmed-down BP... Continue Reading →
