5 March 2015 Last updated at 08:56 GMT BBC News Brazil raises interest rates to 12.75% to curb inflation Brazil's central bank has lifted interest rates to a six-year high of 12.75% to restrain inflation. Inflation in Brazil, Latin America's largest economy, was at a 12-year high in February of 7.4%. The government's target is 6.5%. Brazil's... Continue Reading →
Petrobras scandal threatens to scupper Brazil austerity drive
http://www.ft.com/cms/s/0/5753f704-c233-11e4-ad89-00144feab7de.html#ixzz3TRlh2dtz Last updated: March 4, 2015 6:14 pm Petrobras scandal threatens to scupper Brazil austerity drive Joe Leahy in São Paulo Brazil’s currency slid to a 10-year low against the dollar on Wednesday as concerns grew that a corruption scandal at state-run oil group Petrobras engulfing the country’s political elite threatens to scupper the government’s austerity drive. The real fell... Continue Reading →
Brazil’s Real Leads Global Drops as Rousseff Rebuffed on Taxes
Brazil’s Real Leads Global Drops as Rousseff Rebuffed on Taxes By Filipe Pacheco 10:07 AM BRT March 4, 2015 (Bloomberg) -- Brazil’s real led global currency declines as President Dilma Rousseff was rebuffed in the Senate over the unwinding of tax breaks, adding to concern that she will struggle to shore up the budget. The... Continue Reading →
Petrobras scandal set to snare politicians
http://www.ft.com/cms/s/0/5753f704-c233-11e4-ad89-00144feab7de.html#ixzz3TPXRbZXg PETROBRAS SCANDAL SET TO SNARE POLITICIANS March 4, 2015 9:51 am ©Getty Joe Leahy in São Paulo In Brazil’s modernist Congress building this week, the talk among lawmakers has focused on one subject only — who is on “Janot’s list”. Rodrigo Janot, attorney-general, on Tuesday night sought Supreme Court approval to investigate 28 cases... Continue Reading →
Petrobras CEO Lost Job Over a $30 Billion Disagreement
Petrobras CEO Lost Job Over a $30 Billion Disagreement By Sabrina Valle Anna Edgerton 12:00 AM BRT March 4, 2015 Maria das Gracas Foster, former Chief Executive Officer of Petroleo Brasileiro SA (Petrobras). Photographer: Yasuyoshi Chiba/AFP/Getty Images (Bloomberg) -- As the kickback and money-laundering scandal engulfing state-run oil giant Petrobras escalated in late January,... Continue Reading →
Petrobras fall from grace roils wider Lat Am debt markets
http://www.ft.com/cms/s/0/9c00b9f6-c0e8-11e4-9949-00144feab7de.html#ixzz3TKPZthko Last updated: March 3, 2015 11:10 am Petrobras fall from grace roils wider Lat Am debt markets Vivianne Rodrigues in New York and Joe Leahy in São Paulo Moody’s decision last week to strip Brazil’s oil company Petrobras of its investment grade status and send it two notches into junk territory triggered a sharp sell-off in the country’s... Continue Reading →
Petrobras – Divestment Plan U$13.7 billion to 2016
Petrobras - Divestment Plan U$13.7 billion to 2016 Rio de Janeiro, March 2, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its Executive Board, convened on February 26, 2015, has approved the company’s two-year (2015/2016) divestment plan. Divestitures total US$ 13.7 billion, and include Exploration & Production assets in Brazil and abroad (30%), as... Continue Reading →
Petrobras Jitters…
Petrobras Jitters… March 2, 2015 The Petrobras corruption investigation will enter a new phase this week as the Attorney General of the republic will bring forth charges against politicians mentioned as being on the take during the investigation up to now. The list of politicians is vast, the list apparently reaches 39 including a former... Continue Reading →
As Brazil Tightens Belt, Other Woes Follow
As Brazil Tightens Belt, Other Woes Follow President Dilma Rousseff’s austerity measures are angering supporters and exacerbating an economic slowdown Brazilian Finance Minister Joaquim Levy, left, consults with President Dilma Rousseff this past week in Brasília, the country’s capital.PHOTO: ASSOCIATED PRESS By PAULO TREVISANI And ROGERIO JELMAYER Wall Street Journal Feb. 27, 2015 6:11 p.m. ET ... Continue Reading →
Petrobras Likely to Get Government Support If Needed, Fitch Says
Petrobras Likely to Get Government Support If Needed, Fitch Says By Filipe Pacheco Paula Sambo 5:09 PM BRT February 27, 2015 (Bloomberg) -- Brazil will probably provide funding to Petroleo Brasileiro SA if the state-controlled oil producer remains unable to borrow from banks or sell bonds amid an ongoing corruption scandal, according to Fitch... Continue Reading →
Brazil Energy Insight 