The Switzerland attorney general’s office is shifting its focus to banks operating in the country as it continues to investigate Brazil’s bribery scandal, after plea deals with individual executives provided fresh insights into how the illicit funds flowed through the financial system. Attorney General Michael Lauber said in an interview that he’s reviewing how Swiss banks... Continue Reading →

Brazil's top prosecutor brought new charges against Senate President Renan Calheiros on Monday, accusing him of taking part in corruption at state oil company Petrobras a week after he was nearly removed in an earlier embezzlement case. Prosecutor General Rodrigo Janot said Calheiros had received part of a donation of 800,000 reais ($240,000) in 2010... Continue Reading →

    The P-68 platform, which is part of the replicating FPSOs, had another construction phase completed. With the completion of the hull at the Rio Grande Shipyard, it now sails towards the Jurong shipyard, in Espírito Santo, where it will go through the process integration and installation of modules. When fully completed, the platform... Continue Reading →

Oil prices surged to their highest since mid 2015 and U.S. Treasury yields hit a more than two-year peak on Monday after the world's top crude producers agreed to cut output. Coming at the start of a week when the United States is expected to raise interest rates for the only the second time since... Continue Reading →

Brazilian federal prosecutors on Friday formally accused former president Luiz Inacio Lula da Silva of having interfered in a government tender to buy new fighter jets in favor of Swedish plane maker Saab AB. Lula, who was no longer in the presidency when the suspected illegal practices happened, was accused of having used its influence... Continue Reading →

Brazilian President Michel Temer’s disapproval rating surged in an opinion poll as the nation’s economy remains mired in its worst recession on record. About 51 percent of respondents rated Temer’s government as bad or terrible, up from 31 percent in July, according to a Datafolha poll published in Folha de S. Paulo newspaper Sunday. Forty... Continue Reading →

A former director of Brazilian engineering firm Odebrecht SA told prosecutors that the company made several illegal contributions to politicians from the ruling PMDB party including President Michel Temer, according to a report aired Friday night by Globo TV. If prosecutors prove the accusations, Temer could face an impeachment trial that could destabilize his six-month-old... Continue Reading →

  The Merchant Marine Fund has granted priority for financial support to the South American Tanker Company Navigação S.A. (Satco) for the acquisition of eight tanker vessels. The Atlântico Sul Shipyard (EAS), in Suape (PE), has a memorandum of understanding with Satco for the construction of the vessels, totaling more than R $ 2.2 billion.... Continue Reading →