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Economist Learns Politics to Save Brazil’s President Brazil's Finance Minister is working to restore confidence By Raymond Colitt/Bloomberg 12:00 AM BRT April 24, 2015 Joaquim Levy, finance minister of Brazil, speaks at the Bloomberg Americas Monetary Summit in New York, on April 20, 2015. Michael Nagle/Bloomberg Brazilian Finance Minister Joaquim Levy got his economics training at... Continue Reading →
Petrobras Erases Corruption Probe Losses After Audited Results By Julia Leite/Bloomberg 11:45 AM BRT April 24, 2015 Petroleo Brasileiro SA wiped out the stock plunge sparked by Brazil’s largest kickback investigation after releasing long-delayed earnings. The state-controlled oil driller rose as much as 6.7 percent to 13.78 reais on Friday, erasing losses accumulated since Nov.... Continue Reading →
Petrobras Hunts ‘Hidden Values’ for Potential Stock Sales By Sabrina Valle / Bloomberg 11:31 AM BRT April 24, 2015 Petrobras, the world’s most indebted oil producer, may sell stakes in some assets via initial public offerings as part of a wider effort to boost cash levels and improve its financial health. “Our role here is... Continue Reading →
http://www.ft.com/cms/s/0/7324c094-e975-11e4-b863-00144feab7de.html#ixzz3YEdwiwE4 Last updated: April 23, 2015 5:57 pm Petrobras struggles with losses as probe drags on Joe Leahy and Samantha Pearson in São Paulo/FT ©Reuters Aldemir Bendin says Petrobras is not going to take the corruption scandal lying down For a tense period on Wednesday evening, those gathered for the press conference of Brazil’s corruption-plagued Petrobras began to... Continue Reading →
Fri Apr 24, 2015 8:04 am EDT Brazil's Petrobras board to review 1st-qtr results on May 15 SAO PAULO The Petrobras logo is seen in front of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER (Reuters) - Brazil's state-run oil producer Petroleo Brasileiro SA (PETR4.SA), known as Petrobras, said in a securities... Continue Reading →
http://www.ft.com/cms/s/0/b1bdbd7c-e918-11e4-b7e8-00144feab7de.html#ixzz3YENesfgm Last updated: April 23, 2015 3:50 pm Foreign borrowers wary of dollar rise Elaine Moore and Roger Blitz ©Bloomberg China offered investors a cautionary tale this week of what can happen when a company borrows heavily in dollars. On Monday, Kaisa Group became the first Chinese property developer to default on its dollar-denominated bonds as a housing... Continue Reading →
Petrobras Bondholders’ Doomsday Scenario Averted With Earnings By Julia Leite Paula Sambo / Bloomberg 8:07 PM BRT April 23, 2015 For bond investors, the release of Petroleo Brasileiro SA’s audited earnings means a potential disaster was averted: a default with the potential to put billions of dollars of debt repayments in limbo. That still doesn’t... Continue Reading →
What’s Next for Petrobras May Be Tougher Than $17 Billion Loss By Anna Edgerton / Bloomberg 12:00 AM BRT April 24, 2015 Petrobras’s massive writedowns this week answer the question about the cost of its corruption and pose a much bigger one: whether the state-run driller can restore its role as Brazil’s economic anchor and... Continue Reading →
Thu Apr 23, 2015 2:04 pm EDT UPDATE 1-Shell's Brazil strategy factors in Petrobras scandal -CEO By Anthony Boadle (Reuters) - Royal Dutch Shell Plc has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger, Shell's... Continue Reading →
Halliburton’s Asset Sales Attracting Caterpillar to GE By Matthew Monks / Bloomberg 5:40 PM BRT April 23, 2015 The largest industrial companies in the world, from Caterpillar Inc. to Honeywell International Inc., are about to get a rare chance to go big on oil. They’re among more than half a dozen manufacturers -- including Siemens... Continue Reading →
