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Maersk Profit Misses Estimates as Container Line Loses Share By Christian Wienberg/Bloomberg 3:06 AM BRT May 13, 2015 European Stocks Slide as G-20 Rebuffs Boosting IMF Brendon O'Hagan/Bloomberg A.P. Moeller-Maersk A/S, Denmark’s biggest company, reported first-quarter profit that missed analyst estimates after its shipping line lost market share. Maersk Line, the world’s largest container shipper,... Continue Reading →
Oil's Not Coming Back. Here's Why By Moming Zhou/Bloomberg 8:01 PM BRT May 12, 2015 Oil bulls who’ve cheered a rebound of 40 percent from a six-year low should take heed: Unless demand accelerates, the rally is in danger. The omens aren’t good. The U.S. government expects global consumption to grow next year at less than half... Continue Reading →
Brazil Selic to Stay High Until Inflation Nears Target, IMF Says by David Biller/Bloomberg 6:31 PM BRT May 12, 2015 Brazil’s monetary policy will remain tight until inflation approaches the mid-point of the central bank’s target range, the International Monetary Fund said in a report Tuesday. While inflation is expected to converge to the 4.5... Continue Reading →
Brazil’s Currency Volatility Rises as Levy Faces Fiscal Concern By Paula Sambo/Bloomberg 10:38 AM BRT May 12, 2015 Brazil’s currency volatility climbed for a second straight day amid speculation Finance Minister Joaquim Levy will face obstacles in his attempt to reduce budget deficits and preserve the nation’s investment-grade status. One-month implied volatility on options for... Continue Reading →
Goldman Sachs throws a wet cloth on the oil rally FT Goldman Sachs thinks the oil rally should be burning out. The bank's influential oil analyst team, led by Jeffrey Currie and Damian Courvalin in New York, say that while the 40 per cent rally since January has been impressive, markets are still oversupplied and... Continue Reading →
Levy Faces Biggest Test With Time Running Out in Brazil Congress By Raymond Colitt Arnaldo Galvao / Bloomberg 12:01 AM BRT May 12, 2015 Government spending on unemployment insurance in Brazil has more than tripled since 2003, contributing to widening public debt. Brazil’s Finance Minister Joaquim Levy is up against a ticking clock to convince... Continue Reading →
Big Oil Remains Interested in Colombia Shale, Minister Says By Andrew Willis Andrea Jaramillo/Bloomberg 5:21 PM BRT May 11, 2015 Colombia sees at least two shale projects starting development this year, with Royal Dutch Shell Plc and Exxon Mobil Corp. maintaining their interest despite a slump in prices. “What we’re seeing in the shale area is that... Continue Reading →
U.S. Conditionally Approves Shell Arctic Drilling Plan Company aims to begin drilling in Arctic Ocean this summer Royal Dutch Shell hopes to use this oil rig for exploratory drilling in the Chukchi Sea, off the West Coast of Alaska. PHOTO: DANIELLA BECCARIA/ASSOCIATED PRESS By AMY HARDER And CASSANDRA SWEET/WSJ Updated May 11, 2015 4:14 p.m. ET The U.S. government... Continue Reading →
Noble’s Rosetta Deal Is OPEC’s Problem Deals and financing are putting off a shakeout in the U.S. oil sector Work at a drilling rig in Texas is seen here. Noble Energy’s announced acquisition of Rosetta Resources does little to support oil prices in the near term. PHOTO: BRITTANY SOWACKE/BLOOMBERG NEWS By LIAM DENNING/WSJ May 11,... Continue Reading →
Levy Said to Seek Bigger Spending Freeze Than Brazil Budget Head By Mario Sergio Lima Carla Simoes/Bloomberg 3:25 PM BRT May 11, 2015 Brazil’s Finance Minister Joaquim Levy is seeking to freeze as much as 17 billion reais ($5.6 billion) more from this year’s budget than Budget Minister Nelson Barbosa, according to a government official... Continue Reading →
