Sete Brasil confirms that Standard Chatered Bank has called in loan. Sete has notified that one of their international creditors, Standard Chartered Bank, has called on the guarantor FGCN (Fundo Garantidor da Construção Naval) for payment of outstanding loan. Sete Brasil finds itself in a real jam since it has not been able to obtain the... Continue Reading →
Brazil’s Rousseff Tries Again to Trim Tax Incentives
Brazil’s Rousseff Tries Again to Trim Tax Incentives President tussles with lawmakers reluctant to pass unpopular belt-tightening measures Brazil's President Dilma Rousseff tried again on Friday to push tax measures through Congress to help reverse a widening budget deficit.PHOTO: REUTERS By PAULO TREVISANI AND ROGERIO JELMAYER – Wall Street Journal March 20, 2015 5:40 p.m. ET... Continue Reading →
Brazil: At breaking point
http://www.ft.com/cms/s/0/391623f2-ceea-11e4-893d-00144feab7de.html#ixzz3UxmYLZl6 March 20, 2015 6:52 pm Brazil: At breaking point Samantha Pearson With Petrobras mired in a corruption scandal, President Rousseff hopes an economic boost will lift flagging ratings ©AFP Brazilians on Copacabana beach in Rio de Janeiro protest over the government of President Dilma Rousseff, below, and a corruption scandal involving state energy company... Continue Reading →
Brazil’s Real Climbs Most in 2015 After Sign of Budget Progress
Brazil’s Real Climbs Most in 2015 After Sign of Budget Progress By Paula Sambo 10:45 AM BRT March 20, 2015 (Bloomberg) -- Brazil’s real rose the most this year on speculation the government is starting to make progress in curbing deficits that threaten the nation’s investment grade. The real climbed 2.3 percent to 3.2173 per... Continue Reading →
Brazilian Bonds Shunned by Structured-Note Buyers as Real Slumps
Brazilian Bonds Shunned by Structured-Note Buyers as Real Slumps By Yakob Peterseil 12:05 PM BRT March 20, 2015 (Bloomberg) -- Sales of notes tied to Brazil’s sovereign bonds are off to their worst start in 13 years as investors turn their backs on deteriorating conditions in Latin America’s biggest economy. Banks sold $11.8 million... Continue Reading →
Halliburton and Baker Hughes Said to Plan Asset Sales in April
Halliburton and Baker Hughes Said to Plan Asset Sales in April By David Wethe Matthew Monks 11:02 PM BRT March 19, 2015 (Bloomberg) -- Halliburton Co. and Baker Hughes Inc. plan to begin seeking buyers next month for as much as $10 billion in assets that the oil-services companies need to sell in order to... Continue Reading →
Protests in Brazil/The wisdom of crowds
Protests in Brazil The wisdom of crowds After massive demonstrations against her, Dilma Rousseff will struggle to relaunch her presidency Mar 21st 2015 | SÃO PAULO, The Economist DILMA ROUSSEFF, Brazil’s president, expected the anti-government protests on March 15th to be big. She convened a meeting of a crisis group at her official residence to monitor them.... Continue Reading →
Former Executive Goes Silent on Petrobras Corruption Scandal
Former Executive Goes Silent on Petrobras Corruption Scandal Jailed Renato Duque declines to answer questions at Brazilian congressional hearing Former Petrobras service director Renato Duque, pictured above, has refused to answer questions at a Brazilian congressional hearing.PHOTO: AGENCE FRANCE-PRESSE/GETTY IMAGES By WILL CONNORS/WSJ March 19, 2015 12:06 p.m. ET RIO DE JANEIRO—A recently jailed former executive... Continue Reading →
Brazil’s Esteves Wealth Sinks Most Among Banker Billionaires
Brazil’s Esteves Wealth Sinks Most Among Banker Billionaires By Blake Schmidt 2:37 PM BRT March 19, 2015 Andre Esteves, billionaire and founder of Grupo BTG Pactual, speaks during a session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 21, 2015. World leaders, influential executives, bankers and policy... Continue Reading →
Switzerland Freezes $400 Million Amid Petrobras Laundering Probe
Switzerland Freezes $400 Million Amid Petrobras Laundering Probe by Giles Broom 1:55 PM BRT March 18, 2015 Petroleo Brasileiro SA (Petrobras) is mired in a corruption scandal in which company executives allegedly directed hundreds of millions of dollars from overpriced contracts to politicians. Photographer: Dado Galdieri/Bloomberg (Bloomberg) -- Switzerland has frozen $400 million of assets... Continue Reading →
