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April 24, 2015 11:50 am The US shale revolution Ed Crooks/FT How it changed the world (and why nothing will ever be the same again) Last summer, Juan Ramos had four jobs; now he has none. A year ago, feeling frustrated and underpaid working in health insurance in Florida, he was stirred by stories of... Continue Reading →
Economist Learns Politics to Save Brazil’s President Brazil's Finance Minister is working to restore confidence By Raymond Colitt/Bloomberg 12:00 AM BRT April 24, 2015 Joaquim Levy, finance minister of Brazil, speaks at the Bloomberg Americas Monetary Summit in New York, on April 20, 2015. Michael Nagle/Bloomberg Brazilian Finance Minister Joaquim Levy got his economics training at... Continue Reading →
Petrobras Erases Corruption Probe Losses After Audited Results By Julia Leite/Bloomberg 11:45 AM BRT April 24, 2015 Petroleo Brasileiro SA wiped out the stock plunge sparked by Brazil’s largest kickback investigation after releasing long-delayed earnings. The state-controlled oil driller rose as much as 6.7 percent to 13.78 reais on Friday, erasing losses accumulated since Nov.... Continue Reading →
http://www.ft.com/cms/s/0/b1bdbd7c-e918-11e4-b7e8-00144feab7de.html#ixzz3YENesfgm Last updated: April 23, 2015 3:50 pm Foreign borrowers wary of dollar rise Elaine Moore and Roger Blitz ©Bloomberg China offered investors a cautionary tale this week of what can happen when a company borrows heavily in dollars. On Monday, Kaisa Group became the first Chinese property developer to default on its dollar-denominated bonds as a housing... Continue Reading →
Thu Apr 23, 2015 2:04 pm EDT UPDATE 1-Shell's Brazil strategy factors in Petrobras scandal -CEO By Anthony Boadle (Reuters) - Royal Dutch Shell Plc has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger, Shell's... Continue Reading →
Halliburton’s Asset Sales Attracting Caterpillar to GE By Matthew Monks / Bloomberg 5:40 PM BRT April 23, 2015 The largest industrial companies in the world, from Caterpillar Inc. to Honeywell International Inc., are about to get a rare chance to go big on oil. They’re among more than half a dozen manufacturers -- including Siemens... Continue Reading →
Wed Apr 22, 2015 10:09 pm EDT Petrobras takes $17 billion charge in wake of scandal, promises 'normality' RIO DE JANEIRO Petroleo Brasileiro S.A President Aldemir Bendine (C) and his board present the company's 2014 results in Rio de Janeiro April 22, 2015. REUTERS/RICARDO MORAES (Reuters) - Brazilian state-run oil company Petrobras reported its biggest-ever... Continue Reading →
Thu Apr 23, 2015 8:43am EDT CORRECTED-UPDATE 2-Dutch engineer Arcadis collateral victim of Brazil scandals (Corrects name of chief executive to Neil McArthur, not Ian) * Revenues from Brazil down 15 percent * On track for "significant" 2015 profit rise * Shares down 3 percent By Thomas Escritt AMSTERDAM, April 23 (Reuters) - A sharp... Continue Reading →
| Thu Apr 23, 2015 11:20am EDT Petrobras says has no plans to increase capital, convert debt RIO DE JANEIRO (Reuters) - Brazil's state-run oil company Petrobras currently has no plans to increase capital or convert debt to equity after taking a $17 billion write-down in the wake of a massive corruption scandal, a company... Continue Reading →
Brazil’s Real Drops From Seven-Week High After Petrobras Results by Filipe Pacheco/Bloomberg 10:26 AM BRT April 23, 2015 Brazil’s real dropped from a seven-week high after the state-controlled oil producer published audited results for the first time since August, reporting that a corruption scandal cost $2.1 billion. The real declined for the first time in... Continue Reading →
