Brazil Central Bank Indicates Tightening Cycle Might Be Nearing an End Scenario for inflation to converge with official target in 2016 has strengthened, bank’s minutes say By PAULO TREVISANI And ROGERIO JELMAYER Updated March 12, 2015 12:52 p.m. ET Wall Street Journal BRASÍLIA—Brazil’s central bank said on Thursday that it expects inflation pressures to ease next year,... Continue Reading →
Petrobras Bond Plan Said Quashed as Brazil Fights Rating Cut
Petrobras Bond Plan Said Quashed as Brazil Fights Rating Cut by Anna Edgerton 1:39 PM BRT March 12, 2015 (Bloomberg) -- Brazil withdrew backing for a proposed Petroleo Brasileiro SA local bond as the country fights to avoid following the oil driller into junk credit-rating status, said a government official with direct knowledge of the... Continue Reading →
Andrade Gutierrez Drops as Brazil Watchdog Widens Carwash Probe
Andrade Gutierrez Drops as Brazil Watchdog Widens Carwash Probe by Julia Leite 1:05 PM BRT March 12, 2015 (Bloomberg) -- Bonds of Andrade Gutierrez SA slipped the most in two weeks as the builder was included in a list of companies being investigated in Brazil’s largest-ever corruption probe. Andrade’s $500 million of notes due 2018... Continue Reading →
Protests Grow Against Brazilian President Dilma Rousseff
Protests Grow Against Brazilian President Dilma Rousseff Nationwide marches planned for Sunday as public anger grows over faltering economy and alleged corruption Brazilians heckle the president at a São Paulo event on Wednesday. PHOTO: SEBASTIÃO MOREIRA/EUROPEAN PRESSPHOTO AGENCY By REED JOHNSON and ROGERIO JELMAYER March 11, 2015 6:16 p.m. ET Wall Street Journal SÃO PAULO—Tens of thousands of... Continue Reading →
Former Petrobras Executive Paying Back Millions in Graft Funds
Former Petrobras Executive Paying Back Millions in Graft Funds Pedro Barusco already has handed over 182 million Brazilian reais to federal prosecutors By PAUL KIERNAN March 11, 2015 7:36 p.m. ET Wall Street Journal RIO DE JANEIRO—A former executive of Petróleo Brasileiro SA has begun to pay back the nearly $100 million he said he amassed through bribery... Continue Reading →
OIL RIGS/Rising Brazil Job Losses Turn Rousseff Bedrock to Quicksand
OIL RIGS The woes of the Paraguacu shipyard, where Luciano Neri was employed, illustrate Brazil’s broader difficulties. It holds contracts totaling $4.8 billion to build six deep-water oil rigs for state-controlled Petroleo Brasileiro SA’s projects. The yard is owned by Enseada Industria Naval, a consortium of Odebrecht SA, OAS SA, UTC Engenharia SA and Japan’s... Continue Reading →
Petrobras Woes Giving These Bond Speculators a Windfall
Petrobras Woes Giving These Bond Speculators a Windfall by Pablo Rosendo Gonzalez 8:01 PM BRT March 11, 2015 (Bloomberg) -- Petroleo Brasileiro SA’s woes are turning into a windfall for one group of bond investors. Facing billions of dollars in writedowns and all but shut out of overseas debt markets because of a widening kickback... Continue Reading →
Petrobras scandal lays bare Brazil’s political fragilities
http://www.ft.com/cms/s/0/0fdb4796-c6f8-11e4-9e34-00144feab7de.html#ixzz3U51hn2N0 GLOBAL INSIGHT March 11, 2015 8:58 am Petrobras scandal lays bare Brazil’s political fragilities Joe Leahy in São Paulo/FT President Rousseff faces a bruising second term — if she makes it that far ©AP Going by the first two months of her second term, Brazil’s President Dilma Rousseff is in for a brutal four years until... Continue Reading →
Petrobras Bankers Have $30 Billion on the Line
Petrobras Bankers Have $30 Billion on the Line By Paula Sambo 8:07 PM BRT March 10, 2015 The headquarters of Petroleo Brasileiro in Rio de Janeiro .Photographer: Dado Galdieri/Bloomberg (Bloomberg) -- Aldemir Bendine never worked in the oil industry, but he already knew plenty about Petroleo Brasileiro SA before becoming its chief executive officer last... Continue Reading →
Vale CEO Ferreira Said to Be in Talks to Head Petrobras Board
Vale CEO Ferreira Said to Be in Talks to Head Petrobras Board By Anna Edgerton Sabrina Valle 9:20 PM BRT March 10, 2015 (Bloomberg) -- Vale SA Chief Executive Officer Murilo Ferreira is being sounded out to take over as chairman of the board of Brazil's beleaguered oil producer Petroleo Brasileiro SA, people with knowledge... Continue Reading →
