Reuters/Dec 4, 2015 Brazil's Supreme Court rejected appeals from President Dilma Rousseff's allies to stop the impeachment process launched against her this week in the Lower House of Congress, the court said on Friday. Justices Celso de Mello and Gilmar Mendes rejected two appeals from lawmakers in the ruling coalition, including one filed by congressmen... Continue Reading →
BRIEF-Brazil’s Petrorio says takes over Maersk’s 40 pct in Polvo field
Fri Dec 4, 2015 /Reuters Petrorio SA * Brazil's Petrorio says the national oil regulator ANP approved the exit of Maersk from Polvo field * Petrorio to take over Maersk's 40 percent stake and hold 100 percent of asset Further company coverage: (Reporting by Reese Ewing. Editing by Jane Merriman)
Rousseff Turns to Brazil Supreme Court to Snuff Out Impeachment
President Dilma Rousseff’s allies took to Brazil’s top court to stop the impeachment process just as opposition leaders made the first steps toward the start of hearings. Legislators from the ruling coalition on Thursday filed several motions before the Supreme Court to quash the impeachment request accepted by lower house president Eduardo Cunha a day earlier.... Continue Reading →
Brazil speaker and government trade barbs, fan impeachment fire
The speaker of Brazil's lower house of Congress and the presidential chief of staff traded accusations on Thursday, as President Dilma Rousseff's government organized its defense for impeachment proceedings against her that started Wednesday. The accusations, with each camp branding the other as liars, added further acrimony to a political crisis in Brazil as the... Continue Reading →
Oil Tanker Rates Jump to Seven-Year High as Ships Forced to Wait
Oil tanker rates soared to the highest in seven years amid an acceleration in the number of bookings and signs that the ships are being delayed when unloading due to a lack of space in on-land storage tanks. Day rates for 2 million-barrel carrying ships sailing to Japan from Saudi Arabia, the industry’s benchmark route,... Continue Reading →
PETROBRAS PLANS TO AUDIT PRACTICALLY ALL SUPPLIERS
03/12/2015 RIO - Petrobras plans to conduct an audit in virtually all suppliers to determine whether companies are acting in accordance with the new compliance requirements of the company , said the Director of Governance, Risk and Compliance , João Elek. "All companies will go through it. Ninety percent of the contracts will go through... Continue Reading →
Brazil Assets Surge as Impeachment Move Brings Resolution Closer
Brazilian stocks led global gains and the currency jumped after lower house chief Eduardo Cunha started a process to oust President Dilma Rousseff, boosting speculation the political crisis that has paralyzed the country is closer to an end. All except eight of the 63 shares in the Ibovespa rose, with state-run Petroleo Brasileiro SA and Banco... Continue Reading →
Brazil Goes From Crisis to Crisis as Impeachment Bid Begins
Even in Brazil, a country that is no stranger to crisis, the recent, rapid-fire succession of financial, economic and political blows has been breathtaking. After a week in which the nation’s top young financier was thrown in jail alongside a senator -- pushing his bank into a struggle for survival -- and Goldman Sachs Group... Continue Reading →
Brazil Signals Rate Rise on the Radar as Impeachment Starts
Brazil’s central bank signaled it’s ready to boost borrowing costs early next year as higher political and economic uncertainties threaten to keep inflation above its target for longer than initially expected. The monetary committee will adopt the necessary measures to ensure inflation "will be as close as possible to 4.5 percent in 2016” and “converges... Continue Reading →
Petrobras Graft Losses as High as $7.6 Billion, Audit Court Says
Petroleo Brasileiro SA lost as much as 29 billion reais ($7.6 billion) from a cartel of suppliers who bribed officials at the state-controlled producer to win contracts at inflated prices, Brazil’s audit court, known as TCU, said in a document Wednesday. The audit court’s figure surpasses Petrobras’s internal estimate of 6.2 billion reais. The audit... Continue Reading →
