Thu Apr 30, 2015 2:18 pm EDT EMERGING MARKETS-Brazil's real drops to 3 per dollar on fiscal data, U.S. outlook SAO PAULO, April 30 (Reuters) - The Brazilian real weakened sharply on Thursday following disappointing government fiscal results and strong labor market data in the United States. Other Latin American currencies followed suit, but more... Continue Reading →
OPEC Oil Output Near 2 1/2-Year High as Saudis Show No Letup
OPEC Oil Output Near 2 1/2-Year High as Saudis Show No Letup By Mark Shenk / Bloomberg 10:47 AM BRT April 30, 2015 OPEC oil production was little changed in April near the highest level since November 2012, as Saudi Arabia pumped 10 million barrels a day. Production by the Organization of Petroleum Exporting Countries slipped... Continue Reading →
Brazil Senate Chief Says Rousseff Austerity Plan Threatens Jobs
Brazil Senate Chief Says Rousseff Austerity Plan Threatens Jobs By Mario Sergio Lima Arnaldo Galvao / Bloomberg 1:59 PM BRT April 30, 2015 President Dilma Rousseff’s fiscal-austerity program threatens jobs, Brazil’s Senate leader said, underscoring the challenge her government faces in pushing the measures through Congress. “This can’t even be called a fiscal adjustment,” Senate... Continue Reading →
Brazil posts smaller-than-expected primary surplus in March
Thu Apr 30, 2015 9:42 am EDT Brazil posts smaller-than-expected primary surplus in March BRASILIA, APRIL 30 (Reuters) - Brazil posted a primary budget surplus of 239 million reais ($80.13 million) in March, central bank data showed on Thursday, missing market expectations by a long shot and highlighting the difficulties the government faces to meet... Continue Reading →
BofA Joins Itau in Defying Swap Trade on Brazilian Rate Outlook
BofA Joins Itau in Defying Swap Trade on Brazilian Rate Outlook By Filipe Pacheco/Bloomberg 10:22 AM BRT April 30, 2015 Bank of America Corp. and Itau Unibanco Holding SA disagree with the consensus of swap traders that Brazil will raise interest rates two more times this year after Wednesday’s increase. Rising unemployment and a drop... Continue Reading →
IMF – Growth in Latin America Weakens for Fifth Year in a Row
Growth in Latin America Weakens for Fifth Year in a Row IMF Survey April 29, 2015 Growth in Latin America and Caribbean to drop below 1 percent in 2015, modest recovery expected in 2016 South America’s growth weighed down by lower commodity prices; better outlook for Mexico, Central America, Caribbean Region needs to tackle long-standing... Continue Reading →
Exxon Posts Sharply Lower Results But Tops Estimates
Exxon Posts Sharply Lower Results But Tops Estimates Exxon boosted its quarterly dividend this week. PHOTO: ANDREY RUDAKOV/BLOOMBERG NEWS By CHELSEY DULANEY/WSJ April 30, 2015 8:06 a.m. ET Exxon Mobil Corp., the biggest and richest U.S. oil company, posted a 46% drop in first-quarter profit, hurt by the sharp slump in oil prices, though results still topped expectations. Exxon... Continue Reading →
Majors’ Quandary: Why Drill for Oil When They Can Buy Somebody Else’s?
Majors’ Quandary: Why Drill for Oil When They Can Buy Somebody Else’s? Rising oil-exploration costs and shrinking valuations of smaller players make takeovers likely The rising costs of finding and producing oil were eating into profits even before global crude prices began to slide last summer from over $100 a barrel to about $66. PHOTO: REUTERS By DANIEL... Continue Reading →
Shell Profit Beats Analyst Estimates After Gains From Refining
Shell Profit Beats Analyst Estimates After Gains From Refining By Rakteem Katakey 3:07 AM BRT April 30, 2015 Royal Dutch Shell Plc, the oil producer buying BG Group Plc for $70 billion, reported first-quarter profit that beat analysts’ estimates as refining and trading earnings countered part of the drop in crude prices. Profit adjusted for... Continue Reading →
G-20’s Only Rate Boost to Go On as Prices Rise Amid Brazil Slump
G-20’s Only Rate Boost to Go On as Prices Rise Amid Brazil Slump By Mario Sergio Lima Raymond Colitt / Bloomberg 11:22 PM BRT April 29, 2015 Brazil’s central bank signaled it will raise interest rates for a sixth time in June as Latin America’s largest economy attempts to tame runaway inflation. The bank’s board... Continue Reading →
