REUTERS/UESLEI MARCELINO/FILE PHOTO Brazil police on Thursday said they arrested former Minister Paulo Bernardo, who was indicted earlier this year, and raided Workers Party offices in the latest stage of a massive corruption probe. Bernardo was planning minister and communications minister during Workers Party administrations for about 10 years. Police searched 40 places in five... Continue Reading →
Never Ending Saga…Prosecutors tackle Brazil’s ‘other’ corruption probe/FT
Prosecutor Hebert Mesquita believes scores of companies took part in Zelotes bribery scheme by: Samantha Pearson in Brasília/FT There is barely room to move in the office of Hebert Mesquita, a federal public prosecutor in Brasília. Bulging police files teeter precariously on top of hundreds of legal documents spread out over the cramped first-floor cubicle, each... Continue Reading →
Brazil probe likely to hamper Eletrobras asset sales
Several graft and bribes probes into Centrais Elétricas Brasileiras SA could delay asset sale plans at Brazil's state-controlled power holding company, analysts and lawyers said on Wednesday, underscoring mounting caution among potential buyers. The course of federal and internal probes into accusations that government and company officials received bribes or help facilitate contracts and funnel... Continue Reading →
Brazil Real Advances as Temer Scores Victory in Senate Debate
Brazil’s real followed a rally in emerging markets and commodities after the government scored another win in the Senate, increasing confidence the new administration has enough support to shore up the country’s finances following last year’s credit-rating downgrade to junk. The currency rose 0.7 percent to a two-week high of 3.3883 per dollar at 11:17... Continue Reading →
Oil Explorers Embrace the Sharing Economy to Drill Cheaper Wells
The biggest oil-industry downturn in a generation has companies collaborating in ways they never thought possible. In this global effort, one of the world’s most expensive oil regions intends to lead the way. Last month companies operating in the North Sea started pooling spare parts and tools, and they are even sharing plans on how... Continue Reading →
A Real Francis Underwood -Brazil speaker refuses to quit, denies corruption charges
Suspended House Speaker Eduardo Cunha attends a news conference, in Brasilia, Brazil, June 21, 2016. REUTERS/ADRIANO MACHADO Brazil's suspended House speaker, Eduardo Cunha, denied any criminal wrongdoing on Tuesday and said he will not resign, even though he has already been indicted for corruption and faces the risk of imminent arrest. The Supreme Court indefinitely... Continue Reading →
Back at the House of Cards – Brazil’s Rousseff warned about illegal campaign donations
Marcelo Odebrecht, the former chief executive of Latin America's largest construction company, will admit in plea bargain testimony that he personally oversaw illegal campaign donations for suspended President Dilma Rousseff in 2010 and 2014, newspaper Folha de S. Paulo said on Tuesday. The newspaper said Odebrecht will acknowledge having warned Rousseff on May 26, 2015... Continue Reading →
Petrobras – Clarification on News: Sale of NTS
Rio de Janeiro, June 17, 2016 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter 266/2016-CVM/SEP/GEA-1 which requests clarifications as transcribed below: Official Letter 266/2016-CVM/SEP/GEA-1 “Dear Executive Officer, “We refer to the news item published today on the O Globo newspaper, Economy Section, under the title: “Petrobras is about to sell a gas pipeline... Continue Reading →
U.S. Oil Rig Increase Shows Producers Are Drilling Again: Chart
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 Riddle of the Ex-Credit Suisse Banker’s $14 Million Paycheck
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 →
