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Petrobras Said to Pick Citi and Bradesco for Asset Sales By Cristiane Lucchesi Sabrina Valle 1:40 PM BRT March 19, 2015 Petrobras Chief Financial Officer Ivan Monteiro. Photographer: Paulo Fridman/Bloomberg (Bloomberg) -- Petroleo Brasileiro SA is working with Citigroup Inc., Banco Bradesco SA and Banco Santander Brasil SA to sell stakes in three units... Continue Reading →
Banks Struggle to Unload Oil Loans Citigroup, Goldman, UBS and others face losses as investors balk at riskiness of energy sector Citigroup faces energy-loan losses. PHOTO: GETTY IMAGES By MATT WIRZ and GILLIAN TAN Wall Street Journal March 18, 2015 9:29 p.m. ET Citigroup Inc.,Goldman Sachs Group Inc.,UBS AG and other large banks face tens of millions of dollars in losses on... Continue Reading →
Brazil’s Real Declines to 12-Year Low as Rousseff Faces Dissent By Paula Sambo 10:11 AM BRT March 19, 2015 (Bloomberg) -- Brazil’s real fell to a 12-year low on concern that disagreements with lawmakers will make it harder for President Dilma Rousseff’s government to rein in deficits and preserve the nation’s investment-grade status. The... Continue Reading →
Brazil Builders Said to Seek Government Accord in Petrobras Case By Christiana Sciaudone Anna Edgerton Jessica Brice 12:00 AM BRT March 19, 2015 (Bloomberg) -- Cash-strapped Brazilian builders, accused of paying kickbacks to win public contracts, are in talks to reach leniency deals to regain access to credit markets, people with knowledge of the matter... Continue Reading →
Brazil Opposition Urges Probe of Rousseff Mass protests embolden a push to investigate president’s role in graft scandal Brazilian President Dilma Rousseff hasn’t been implicated in a widening corruption scandal, but the country;s opposiotion is calling for a probe. ILLUSTRATION: AFP/GETTY IMAGES By PAULO TREVISANI March 18, 2015 4:42 p.m. ET BRASÍLIA—Political opponents of Brazil’s President Dilma Rousseff are... Continue Reading →
Brazil’s Rousseff Pushes Anti-Graft Bills as Her Approval Sinks by Raymond Colitt Arnaldo Galvao 8:11 AM BRT March 18, 2015 Demonstrators Carry a Mask of President Dilma Roussef Demonstrators carry a mask with the face of Brazilian President Dilma Roussef during a protest near Copacabana Beach in Rio de Janeiro, on Sunday, March 15. Rousseff’s... Continue Reading →
DEBT AND THE OIL COMPANIES Oil Firms’ Rising Debts Add Downward Price Pressure in BIS View By Grant Smith 8:00 AM BRT March 18, 2015 (Bloomberg) -- The oil and gas industry’s $2.5 trillion of debt may compound the drop in crude prices, as companies maximize output to meet their financial obligations, according to... Continue Reading →
Mar 18 2015 at 10:50 AM Petrobras: cashing out Protests across Brazil were held this week against President Dilma Rousseff's government with many protesters calling for her impeachment. A massive corruption scandal at Brazil's state-owned oil company Petrobras has rocked the government and Dilma's approval ratings are now around 23 per cent. Getty Images by Lex Petrobras,... Continue Reading →
Rousseff Approval Rating Sinks as Brazil Economy Faces Slump By Raymond Colitt Katerina Petroff 8:11 AM BRT March 18, 2015 Demonstrators carry a mask with the face of Brazilian President Dilma Roussef during a protest near Copacabana Beach in Rio de Janeiro, on Sunday, March 15. Rousseff’s administration faces growing opposition in the streets and... Continue Reading →
Wall Street Traders Run for Cover as Brazilians Take the Streets By David Biller 9:42 PM BRT March 17, 2015 (Bloomberg) -- Finance Minister Joaquim Levy’s attempt to restore investor confidence in Brazil is being undermined by deepening political turmoil and public dissatisfaction. Traders pushed up the cost to insure the nation’s debt to an... Continue Reading →
