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Brazilian Economy Struggles to Take Off Business faces fraught time amid drought, a sluggish economy and a corruption scandal Economists expect Brazil’s gross domestic product to contract 1.18% this year and growth of just 1% in 2016. PHOTO: PAULO WHITAKER/REUTERS By LORETTA CHAO and ROGERIO JELMAYER/WSJ May 4, 2015 10:45 p.m. ET SAO PAULO, Brazil—With Brazil dogged by... Continue Reading →
Anadarko Posts Weaker-Than-Expected Results The oil-and-gas exploration and production company says production was strong An Anadarko Petroleum Corp. fracking site north of Dacono, Colo. PHOTO: BLOOMBERG NEWS By JOSH BECKERMAN/WSJ May 4, 2015 4:50 p.m. ET Anadarko Petroleum Corp. posted weaker-than-expected results for its first quarter but said production was strong. The oil-and-gas exploration and production company,... Continue Reading →
Brazil Austerity Can Minimize Budget Cuts, Temer Tells Congress by Mario Sergio Lima 7:14 PM BRT May 4, 2015 Brazil’s government will have to make significant reductions to the spending budget if lawmakers block its austerity program, Vice President Michel Temer said. “The budget cuts would be very radical,” Temer, a member of the ruling... Continue Reading →
Mon May 4, 2015 3:53pm EDT Brazil's industrial output likely fell in March: Reuters poll BRASILIA | BY SILVIO CASCIONE (Reuters) - Industrial output in Brazil probably fell in March for a second straight month on falling auto and steel production, increasing expectations that Latin America's largest economy will tumble into a recession. Output from Brazilian factories and... Continue Reading →
http://www.ft.com/cms/s/0/bff9828e-ef28-11e4-87dc-00144feab7de.html#ixzz3ZCNaZgaN May 4, 2015 4:56 pm Brazil is suffering from recession and scandal President Rousseff’s new economic pragmatism faces a gruelling test FT View ©Reuters Brazilian President Dilma Rousseff is coming under increasing pressure In a world of near-zero interest rates, how about this? Last week, Brazil’s central bank increased its main interest rate to 13.25 per... Continue Reading →
5:31 pm ET May 3, 2015 Russia, Brazil Mistakes Show How Inflation Can Still Arise By MICHAEL J. CASEY/MoneyBeat Reuters Years of economic delusion have placed Brazil and Russia on track for a reckoning with a familiar old foe: inflation. In 2001, both countries were named along with India and China as part of the... Continue Reading →
Shale Oil Drillers Plunge After Einhorn Slams Fracking Costs by Joe CarrollKelly Gilblom/Bloomberg 1:45 PM BRT May 4, 2015 Money manager David Einhorn slammed the shale drilling industry that ushered in a new era of U.S. oil production as wasteful, expensive and a terrible investment. Shale explorers including Pioneer Natural Resources Co. and EOG Resources... Continue Reading →
Mon May 4, 2015 8:57am EDT Related: CURRENCIES, BONDS, MARKETS EMERGING MARKETS-Brazil real drops 2 pct on sign of less swap rollover By Walter Brandimarte RIO DE JANEIRO, May 4 (Reuters) - The Brazilian real lost 2 percent early on Monday after the central bank signaled it will reduce the roll over pace of currency... Continue Reading →
Venezuela’s Allies Break Oil Habit As Caracas cuts back on subsidies to Caribbean nations, recipients are turning to renewable energy The Amaya wind farm, Nicaragua's largest, harnesses steady, strong winds that sweep across Lake Nicaragua. PHOTO: JOHN OTIS/THE WALL STREET JOURNAL By JOHN OTIS and KEJAL VYAS/WSJ May 1, 2015 11:21 p.m. ET RIVAS, Nicaragua—The steady breeze that... Continue Reading →
China Oil Industry, Experts Resist Proposal to Merge Companies China’s leadership instructed a team of advisers to explore ways to revamp the energy sector The Sinopec logo is illuminated at night at one of the company's gas stations in Hong Kong, China, March 19, 2015. PHOTO: BILLY H.C. KWOK/BLOOMBERG NEWS By LINGLING WEI And BRIAN SPEGELE/WSJ Updated May... Continue Reading →
