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Senior Brazilian Official Backs Chevron in Oil Pollution Case Prosecutor recommends that Brazilian courts reject $9.5 billion Ecuadorian contamination judgment By Paul Barrett/Bloomberg 2:21 PM BRT May 18, 2015 Photographer: David Paul Morris/Bloomberg Seeking to avoid payment of a disputed $9.5 billion pollution judgment in Ecuador, Chevron won a round in Brazil. Last week, a... Continue Reading →
Fri May 15, 2015 8:22pm EDT UPDATE 2-Brazil's Petrobras beats forecasts with $1.8 bln first-qtr profit * End of fuel subsidy, corruption slowdown drive results * Total investments fall 13 pct, operating costs cut 22 pct * Refining unit makes 6.18 bln-real profit * Fuel subsidy removal offsets drop in crude price (Rewrites throughout to... Continue Reading →
Mon May 18, 2015 10:01am EDT Petrobras bonds rally on solid results BY PAUL KILBY/Reuters NEW YORK, May 18 (IFR) - Bonds issued by Petrobras were rallying Monday morning on better-than-expected first-quarter results and the approval of an up to US$1bn equivalent bond sale in the local markets. "The results are much better than expected... Continue Reading →
Mon May 18, 2015 11:53am EDT Brazil hogs limelight as Itau brings dollar trade BY PAUL KILBY/Reuters NEW YORK, May 18 (IFR) - Brazil was leading LatAm credit markets higher Monday following a rally in state-controlled Petrobras and a new issue from Itau-Unibanco - the country's first dollar bond of the year. While a reversal... Continue Reading →
Goldman Sees Oil at $50 at the End of the Decade Bank forecasts a "New Oil Order" By Julie Verhage/Bloomberg 10:38 AM BRT May 18, 2015 Oil - lower for longer? Photographer: Akos Stiller/Bloomberg As oil prices fell from more than $100 a barrel to a low of $43.46 over the past year, analysts and economists constantly tried to... Continue Reading →
Petrobras $7.2 Billion Profit Lifts Stock as Ibovespa Fluctuates by Denyse Godoy/Bloomberg 9:49 AM BRT May 18, 2015 Surprising earnings at Petroleo Brasileiro SA, the oil producer at the center of Brazil’s largest corruption probe, sent its shares to a six-month high. The Ibovespa fluctuated. The company posted $7.2 billion in a measure of earnings,... Continue Reading →
Rolls-Royce to Cut Jobs at Marine Unit Amid Slowing Business By Kari Lundgren/Bloomberg 8:12 AM BRT May 18, 2015 Sales remain strong for the Rolls-Royce Trent 900 aircraft engine division Balint Porneczi/Bloomberg Rolls-Royce Group Plc, which is already eliminating about 2,600 positions globally, said it will cut an additional 600 jobs at its marine unit... Continue Reading →
http://www.ft.com/cms/s/0/b5c97688-fa6e-11e4-aa42-00144feab7de.html#ixzz3aUYRuF9Q May 18, 2015 12:41 pm Brazil’s political system broken, says former president Joe Leahy in New York/FT ©AP Brazil’s political system is broken and reforms are needed to restore its credibility in the eyes of voters, according to Fernando Henrique Cardoso, a former president of Latin America’s largest country. A vast corruption scandal at Petrobras, the state-owned... Continue Reading →
Fri May 15, 2015 8:11pm EDT Brazil seizes $327 million in contractor assets in Petrobras scandal BRASILIA A person walks past the Petrobras logo in front of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER Brazilian prosecutors said on Friday they have obtained court orders for the seizure of 980 million reais... Continue Reading →
Beijing to Unveil South America Investments China Premier Li Keqiang to discuss Brazil railway, other infrastructure projects on visit this week China’s premier is expected to sign agreements for joint research into the feasibility of building a cross-Andes rail link across Brazil’s agricultural belt to Peru’s Pacific coast. Shown, ron ore is transported by rail... Continue Reading →
