U.S. oil producers are drilling again. Rigs capped their first three-week gain since August, according to Baker Hughes Inc. data on June 17. Behind the build: a more than 80 percent gain in crude prices from a 12-year low in February and disruptions that saw West Texas Intermediate touch a 10-month high of $51.67 a... Continue Reading →

The last place you’d expect to find one of Credit Suisse Group AG’s highest-paid executives in 2015 is Brazil, given all the political and economic challenges facing the country. But Sergio Machado’s 48.4 million reais ($14 million) paycheck ranks above that of every member of Credit Suisse’s executive board listed in the lender’s annual report.... Continue Reading →

Economists are more in agreement than they have been since 2014 about where Brazil's currency is heading after a political crisis unseated President Dilma Rousseff. The newfound stability has reduced the cost of protection from one of the world's most volatile exchange rates in recent years, offering relief for companies struggling in a recession and... Continue Reading →

In the saga of Brazil’s oil industry, QGEP Participacoes SA has always flown mostly under investors’ radar. It’s no heavyweight like state-run Petrobras, nor has it ever been as flashy as OGX, ex-billionaire Eike Batista’s startup. But among producers that sold more than $77 billion in stock after Brazil discovered massive offshore crude deposits in... Continue Reading →

Credit Suisse Group AG said an internal investigation found no evidence that a former employee, Sérgio Firmeza Machado, used his position at the bank to help his father funnel illicit campaign donations to Brazilian politicians as part of a sweeping corruption scandal. Firmeza Machado's father Sérgio, a former senior executive at state oil firm Petróleo... Continue Reading →

Jun 16, 2016 4:07pm EDT Reuters Brazilian Minister of Tourism Henrique Eduardo Alves talks on his mobile phone after a meeting with Brazil's then Vice President Michel Temer (not pictured) in Brasilia, Brazil, December 14, 2015. REUTERS/UESLEI MARCELINO Brazil's tourism minister, Henrique Eduardo Alves, resigned on Thursday, according to the president's office, making him the... Continue Reading →

Brazil’s Acting President Michel Temer denied allegations he sought inappropriate campaign donations for his party and pledged to remain undeterred in his efforts to pull the country out of crisis. In a plea bargain published by the Supreme Court on Wednesday, a former executive from state-run oil company Petrobras claimed that Temer in 2012 asked... Continue Reading →

Brazil’s real tumbled Thursday after an economic report showed the economy shrank more than forecast, magnifying the effects of a global sell-off in emerging markets. The real was the biggest dud among Latin American peers after the central bank said economic activity, often seen as a proxy for gross domestic product, declined 4.99 percent in... Continue Reading →