Keppel Corp., which has already eliminated more than a quarter of its workforce this year, said "painful measures" and job cuts will continue as profit at the world’s biggest oil-rig builder drops. Senior managers at the Singapore-based company have taken a cut in their monthly pay and directors will propose lower fees, Keppel said in... Continue Reading →

Brazil’s central bank cut its benchmark interest rate on Wednesday for the first time in four years, giving a significant boost to President Michel Temer’s efforts to kickstart the country’s economy. The central bank’s board led by President Ilan Goldfajn voted unanimously to cut the so-called Selic rate by a quarter-point to 14 percent, in... Continue Reading →

Big Oil to Start Spending Again After Two-Year Slump Major oil companies are beginning to invest in projects as oil prices show signs of recovery By SARAH KENT and KEVIN BAXTER/WSJ Updated Oct. 18, 2016 1:04 p.m. ET LONDON—The prospect of rising oil prices has the global energy industry considering a strategy that has been unthinkable for... Continue Reading →

Brazil’s ‘Frank Underwood’ arrested on corruption charges by: Samantha Pearson Brazilian police have arrested Eduardo Cunha, the powerful former speaker of the lower house and one of the country’s most hated figures, over corruption at state oil company Petrobras. Mr Cunha, who masterminded the impeachment of former president Dilma Rousseff, was detained at his apartment... Continue Reading →

The world’s largest publicly listed oil company says ample production from U.S. shale regions will keep prices subdued for years to come, disagreeing with others in the industry who have warned about a looming shortage. Rex Tillerson, chief executive officer at Exxon Mobil Corp., presented an upbeat view of how technology will allow companies to... Continue Reading →

Halliburton Co. eked out a surprise profit in the third quarter as the world’s second-largest oil services company gained business from oil producers that are beginning to ramp up operations following the worst crude-market crash in a generation. After calling the bottom of the oil cycle three months ago, Halliburton reported its first North American... Continue Reading →

For six years, Brazil’s central bank failed to achieve its mandate of ensuring price stability, damaging its credibility and eroding Brazilians’ purchasing power. Even as the nation’s economy nose-dived into the worst recession on record, policy makers had little choice but to stick with one of the highest interest rates among G-20 nations. But now, with central-bank... Continue Reading →