Re-Loaded Petrobras Board and Audited Results Coming, Levy Says By David Biller/Bloomberg 3:04 PM BRT April 20, 2015 Brazil’s state-run oil producer Petroleo Brasileiro SA has improved its management and should soon have a board “loaded” with people from the private sector, said Finance Minister Joaquim Levy. The expectation is for the company to release... Continue Reading →
As Petrobras scandal spreads, economic toll mounts for Brazil
Mon Apr 20, 2015 10:58am EDT As Petrobras scandal spreads, economic toll mounts for Brazil BY JEB BLOUNT A tower with a Brazilian flag representing an oil rig is pictured during a protest in front of the Petrobras headquarters in Rio de Janeiro March 4, 2015. REUTERS/SERGIO MORAES ITABORAÍ, Brazil (Reuters) - For the 20 men hanging... Continue Reading →
Halliburton Beats Estimates, Boosts Job Cuts After Oil Crash
Halliburton Beats Estimates, Boosts Job Cuts After Oil Crash By David Wethe/Bloomberg 8:05 AM BRT April 20, 2015 Halliburton Co. beat analysts’ estimates and accelerated the pace of job cuts ahead of a planned $34.6 billion takeover of Baker Hughes Inc. Excluding certain items, the world’s second-biggest provider of oilfield services earned 49 cents a... Continue Reading →
Investors Grow Wary of Emerging-Market Debt
Investors Grow Wary of Emerging-Market Debt Fear of defaults grows as developing economies slow and dollar has climbed As the U.S. Federal Reserve prepares to increase interest rates, the dollar has surged, raising concerns about the debt of some emerging-market companies that borrowed in dollars. PHOTO: ANDREW HARRER/BLOOMBERG NEWS By CAROLYN CUI/WSJ April 19, 2015 3:58 p.m. ET... Continue Reading →
Petrobras and improving policy outlook help Brazil’s markets
http://www.ft.com/cms/s/0/214aec34-e72d-11e4-a01c-00144feab7de.html#ixzz3XqKpxCY8 April 20, 2015 9:09 am Petrobras and improving policy outlook help Brazil’s markets Joe Leahy in São Paulo ©Getty At the construction site of a wing of the prestigious Sirio-Libanes Hospital in São Paulo, a security guard recalls how workers from the Schahin industrial group suddenly left the project 15 days ago. The Brazilian... Continue Reading →
Petrobras shares rise as company prepares to end results delay
http://www.ft.com/cms/s/0/ac956eba-e56e-11e4-a02d-00144feab7de.html#ixzz3XmmUP5O7 April 19, 2015 3:04 pm Petrobras shares rise as company prepares to end results delay Joe Leahy and Samantha Pearson in São Paulo ©Getty Investor optimism is rising that Brazil’s embattled state-owned oil company Petrobras will emerge from a crippling corruption scandal without defaulting on its $137bn in debt. Shares of the state-owned oil company company... Continue Reading →
Halliburton’s Dimming Expectations
Halliburton’s Dimming Expectations Although the Halliburton-Baker Hughes deal looks different months later, it still makes sense. Baker Hughes, which Halliburton is buying, recently said it would stop publishing its closely watched North American well-count report in a cost-cutting measure. Baker Hughes, which Halliburton is buying, recently said it would stop publishing its closely watched North... Continue Reading →
Fitch warns of rising litigation risks at Brazilian banks
Fri Apr 17, 2015 6:21pm EDT Fitch warns of rising litigation risks at Brazilian banks SAO PAULO, APRIL 17 (Reuters) - Brazilian banks face rising risks of litigation due to an anti-corruption investigation of the country's tax appeal board CARF, adding to a wave of legal cases that could threaten lenders' bottom lines, Fitch Ratings... Continue Reading →
UPDATE 1-Petrobras says covers 2015 financial needs with loans, sale
Fri Apr 17, 2015 7:02pm EDT UPDATE 1-Petrobras says covers 2015 financial needs with loans, sale (Recast with details of the operation, Petrobras comment and context) (Reuters) - Brazil's Petrobras said on Friday it approved 18.6 billion reais ($6.12 billion) in credit and sale operations to meet its financing needs as the state-run oil giant... Continue Reading →
Petrobras – Material Fact – Loan Contracts and Divestment Plan
Petrobras - Material Fact - Loan Contracts and Divestment Plan Rio de Janeiro, April 17, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that concluded negotiations on the following loan contracts: · R$ 4.5 billion export note with Banco do Brasil through its subsidiary BR Distribuidora for a 6-year period. · R$ 2 billion standby... Continue Reading →