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Halliburton’s Dimming Expectations Although the Halliburton-Baker Hughes deal looks different months later, it still makes sense. Baker Hughes, which Halliburton is buying, recently said it would stop publishing its closely watched North American well-count report in a cost-cutting measure. Baker Hughes, which Halliburton is buying, recently said it would stop publishing its closely watched North... Continue Reading →
Fri Apr 17, 2015 6:21pm EDT Fitch warns of rising litigation risks at Brazilian banks SAO PAULO, APRIL 17 (Reuters) - Brazilian banks face rising risks of litigation due to an anti-corruption investigation of the country's tax appeal board CARF, adding to a wave of legal cases that could threaten lenders' bottom lines, Fitch Ratings... Continue Reading →
Hedge Funds Aurelius, Alden Oppose OAS Creditor-Protection Bid By Boris Korby/Bloomberg 3:38 PM BRT April 17, 2015 Share on FacebookShare on Twitter Hedge funds Aurelius Capital Management LP and Alden Global Capital LLC objected to efforts by the bankrupt Brazilian construction company OAS SA to halt lawsuits against it in the U.S. OAS, which filed... Continue Reading →
Fri Apr 17, 2015 12:48pm EDT UPDATE 2-Brazil's Schahin says 28 units file for bankruptcy protection By Guillermo Parra-Bernal (Reuters) - Twenty-eight units of Brazilian engineering firm Grupo Schahin filed forbankruptcy protection on Friday as a corruption scandal at key client Petróleo Brasileiro SA hampered efforts to refinance up to 6.5 billion reais ($2.1 billion) in... Continue Reading →
Oil prices Unconventional but normal The fall in the oil price has not curbed fracking nearly as much as expected Apr 18th 2015 | From the print edition The Economist WHEN the oil price crashed last year, many assumed that the earliest casualties would be the small, nimble American companies that specialise in getting “unconventional” oil out... Continue Reading →
Statoil Chief Say More Oil Deals Likely After Shell-BG Merger By William Kennedy/Bloomberg 1:25 PM BRT April 17, 2015 The chief executive officer of Norway’s largest oil producer said the industry will probably see more deals after Royal Dutch Shell Plc’s $70 billion to BG Plc, especially if crude prices remain depressed. “All player are... Continue Reading →
Shell Said to Hire Barclays to Arrange $15 Billion BG Loan By Stephen Morris/Bloomberg 10:51 AM BRT April 17, 2015 Royal Dutch Shell Plc hired Barclays Plc to help arrange a 10 billion pound ($15 billion) loan to help fund its purchase of BG Group Plc, two people with knowledge of the matter said. The... Continue Reading →
Schlumberger Profit Falls 39%, Capex, Jobs Cut Schlumberger cut 11,000 more jobs, leading to a total reduction of about 15% compared to the peak of the third quarter of 2014 By LISA BEILFUSS/WSJ April 16, 2015 4:58 p.m. ET Schlumberger Ltd. reported a 39% decline in first-quarter earnings and announced further layoffs, as lower oil... Continue Reading →
4/16/2015 @ 3:56PM For the 2018 Brazilian Election, Levy Might Just Be the Man Who Can Change the Game Arthur Pinheiro Machado/Contributor/Forbes For an outside observer, it is very difficult to understand Brazilian politics. There are about 32 parties; 21 currently support the government and 11 are in opposition. It is even more difficult to understand... Continue Reading →
Protests in Brazil Tropical tea party The crowds are smaller, but they are not going away Apr 18th 2015 | SÃO PAULO | From the print edition The Economist BY NEARLY any standard, the protests to denounce the president, Dilma Rousseff, and to rail against corruption in Brazil were huge. Some 660,000 people turned out on April 12th, in... Continue Reading →
