Brazil

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Brazil Banks Fall on Odebrecht Concern, Despite Company Denial

Shares in Brazil's largest listed banks posted their biggest decline in a month on Thursday on concerns about the financial health of Odebrecht SA, the engineering group that is embroiled in a large corruption scandal, despite a denial by the compan ...

Daily Headline - abi_admin - 07/22/2016 - 12:18 - 0 comments

Brazil Recommends Four Firms for Oi In-Court Administrator Role

Brazil's telecommunications industry watchdog Anatel yesterday proposed a list of four candidates to become the in-court administrator of phone carrier Oi SA, which last month filed for the nation's biggest-ever reorganization, Reuters reported ...

Daily Headline - abi_admin - 07/20/2016 - 13:39 - 0 comments

Brazil's Odebrecht Puts Braskem Stake as Collateral for Loans

Braskem SA said yesterday controlling shareholder Odebrecht Serviços e Participações SA has placed the entire stake it has in the firm as collateral for outstanding bank loans, in a sign of Odebrecht's challenging debt refinancing outlook, Reuters r ...

Daily Headline - abi_admin - 07/20/2016 - 13:41 - 0 comments

In Brazil, Another Shipyard Goes Bust as Work Goes to Asia

The Inhauma shipyard in Brazil is the latest to succumb to a crisis that has wiped out nearly half of the country’s naval industry jobs in the past two years, leaving companies bankrupt and creditors unpaid, Bloomberg News reported today. State-controlle ...

Daily Headline - abi_admin - 07/18/2016 - 12:08 - 0 comments

Oi CEO Aims to Triple Customers in Key Category Amid Bankruptcy

Oi SA is sticking to its year-end goals of tripling subscribers who use multiple services and boosting investments by 25 percent even as the phone carrier works through Brazil’s biggest-ever bankruptcy, Chief Executive Officer Marco Schroeder said, Bloom ...

Daily Headline - global.abi.org - 07/14/2016 - 22:36 - 0 comments

Carlyle In Talks To Sell Brazil's Scalina After Debt Restructuring

Carlyle Group LP, the world's No. 2 private-equity manager, is in talks to sell its stake in Brazilian lingerie maker Scalina SA, following a series of setbacks that led to a debt restructuring, three sources with direct knowledge of the situation s ...

Daily Headline - global.abi.org - 07/13/2016 - 23:02 - 0 comments

Oi Investor Urges New Board After Record Brazil Bankruptcy Filing

A minority investor in Oi SA, Brazil's largest fixed-line phone carrier, has called for the replacement of most of its board after the company filed for the country's biggest-ever bankruptcy protection, Reuters reported. Nelson Tanure, a Brazil ...

Daily Headline - global.abi.org - 07/10/2016 - 21:02 - 0 comments

Brazil's Oleo e Gas Restarts Tubarão Martelo Oil Field

Brazil's Óleo e Gás Participações SA, which has been under bankruptcy protection for nearly three years, said on Monday it has restarted output from its Tubarão Martelo offshore oil field near Rio de Janeiro after a four-month outage, Reuters report ...

Daily Headline - global.abi.org - 07/04/2016 - 22:49 - 0 comments

Brazil's Oi To Begin Talks With Creditors Next Week, Says CEO

Oi SA, Brazil's largest fixed-line telephone carrier, plans to start meetings with bondholders and banks next week as part of the country's biggest-ever bankruptcy protection process, Chief Executive Marco Schroeder said on Thursday, Reuters re ...

Daily Headline - global.abi.org - 06/30/2016 - 20:55 - 0 comments

Brazil’s Unemployment Rises to 11.2% in March-May Period

Brazil’s unemployment rate increased between March and May, while wages continued to decline, as Latin America’s largest economy faces a deep and prolonged recession, the Financial Times reported. Joblessness rose to 11.2% from 10.2% in the previous ...

Daily Headline - global.abi.org - 06/29/2016 - 20:15 - 0 comments

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