Rousseff Says Brazil’s Budget Cuts to Be as Small as Possible Government aims to boost primary surplus to 1.2% of GDP By PAULO TREVISANI/WSJ May 19, 2015 2:05 p.m. ET BRASÍLIA—Brazil’s government, which is trying to improve its financial situation, will avoid excessive reductions to the national budget, President Dilma Rousseff said Tuesday. “We will make the... Continue Reading →
Latin America needs China to help close infrastructure gap
Latin America needs China to help close infrastructure gap Guest writer | May 19 11:45 \Beyondbrics - FT By Kevin P. Gallagher, Boston University’s Pardee School of Global Studies To many South American leaders, Chinese Premier Li Keqiang’s visit this week couldn’t come at a better time, and from a better country. China has been busy with Latin America,... Continue Reading →
Brazil’s Massive Corruption Scandal Is Rocking Its Once-Superstar Economy
Brazil's Massive Corruption Scandal Is Rocking Its Once-Superstar Economy Photographer: Gregg Newton/Bloomberg By David Biller/Bloomberg 11:35 AM BRT May 19, 2015 Some Brazilians worry that the biggest corruption scandal in their nation's history will end in what is known in their country as a pizza party, meaning the accused will find a way to get away... Continue Reading →
China Throws Brazil Multi-Billion Dollar Lifeline for Jets, Oil
China Throws Brazil Multi-Billion Dollar Lifeline for Jets, Oil by Anna Edgerton Raymond Colitt/Bloomberg 3:12 PM BRT May 19, 2015 China extended billions of dollars in loans and investment to Brazil as the South American nation reels from a slowing economy and a corruption scandal engulfing its largest oil producer. China Development Bank and the Asian country’s... Continue Reading →
Brazil prepares new tax hikes to meet fiscal goal -source
Mon May 18, 2015 2:04pm EDT Brazil prepares new tax hikes to meet fiscal goal -source BRASILIA/Reuters May 18 The Brazilian government plans a new round of tax hikes to meet its fiscal goal this year despite recent efforts to limit public expenditures, an official with knowledge of the decision said on Monday. President Dilma... Continue Reading →
Senior Brazilian Official Backs Chevron in Oil Pollution Case
Senior Brazilian Official Backs Chevron in Oil Pollution Case Prosecutor recommends that Brazilian courts reject $9.5 billion Ecuadorian contamination judgment By Paul Barrett/Bloomberg 2:21 PM BRT May 18, 2015 Photographer: David Paul Morris/Bloomberg Seeking to avoid payment of a disputed $9.5 billion pollution judgment in Ecuador, Chevron won a round in Brazil. Last week, a... Continue Reading →
UPDATE 2-Brazil’s Petrobras beats forecasts with $1.8 bln first-qtr profit
Fri May 15, 2015 8:22pm EDT UPDATE 2-Brazil's Petrobras beats forecasts with $1.8 bln first-qtr profit * End of fuel subsidy, corruption slowdown drive results * Total investments fall 13 pct, operating costs cut 22 pct * Refining unit makes 6.18 bln-real profit * Fuel subsidy removal offsets drop in crude price (Rewrites throughout to... Continue Reading →
Petrobras bonds rally on solid results
Mon May 18, 2015 10:01am EDT Petrobras bonds rally on solid results BY PAUL KILBY/Reuters NEW YORK, May 18 (IFR) - Bonds issued by Petrobras were rallying Monday morning on better-than-expected first-quarter results and the approval of an up to US$1bn equivalent bond sale in the local markets. "The results are much better than expected... Continue Reading →
Goldman Sees Oil at $50 at the End of the Decade
Goldman Sees Oil at $50 at the End of the Decade Bank forecasts a "New Oil Order" By Julie Verhage/Bloomberg 10:38 AM BRT May 18, 2015 Oil - lower for longer? Photographer: Akos Stiller/Bloomberg As oil prices fell from more than $100 a barrel to a low of $43.46 over the past year, analysts and economists constantly tried to... Continue Reading →
Rolls-Royce to Cut Jobs at Marine Unit Amid Slowing Business
Rolls-Royce to Cut Jobs at Marine Unit Amid Slowing Business By Kari Lundgren/Bloomberg 8:12 AM BRT May 18, 2015 Sales remain strong for the Rolls-Royce Trent 900 aircraft engine division Balint Porneczi/Bloomberg Rolls-Royce Group Plc, which is already eliminating about 2,600 positions globally, said it will cut an additional 600 jobs at its marine unit... Continue Reading →
Brazil Energy Insight 