Brazil

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Brazil Says No 'Grand Bargain' With Builders in Petrobras Scandal

President Dilma Rousseff's government denied on Wednesday that it is looking to strike a "grand bargain" with Brazilian construction and engineering firms implicated in the kickback scandal at state-run oil company Petrobras, the Interna ...

Daily Headline - global.abi.org - 03/25/2015 - 22:26 - 0 comments

Deficit-Ridden Pension Said to Be Investigated as Rescue Sought

The deficit-ridden pension fund for Brazilian postal workers is being investigated for alleged reckless management after several years of money-losing bets ranging from investments in Lehman Brothers bonds to Argentine debt, two people with knowledge of ...

Daily Headline - global.abi.org - 03/24/2015 - 20:28 - 0 comments

Brazil Judge Accepts Charges Against 11 Companies

A Brazilian judge has accepted charges filed by state prosecutors against 11 companies accused of forming a cartel to raise prices on the construction and upkeep of subway and train systems in the state of Sao Paulo, The Wall Street Journal reported. ...

Daily Headline - global.abi.org - 03/22/2015 - 22:00 - 0 comments

Brazil’s Eike Batista Fined 1.4 Million Reais by Market Regulator

Former billionaire Eike Batista was fined 1.4 million Brazilian reais ($429,000) Wednesday by Brazil’s market regulator for failing to provide shareholders with timely information while his industrial empire was collapsing in 2013, The Wall Street Jour ...

Daily Headline - global.abi.org - 03/18/2015 - 23:15 - 0 comments

Oleo e Gas Suspends Payment To OSX For Brazil Oil-Production Ship

Oleo e Gas Participações SA, a Brazilian oil company under bankruptcy protection, on Monday said it suspended payments for an oil-production vessel to bankrupt ship-leasing company OSX Brasil SA for six months, Reuters reported. Oleo e Gas, formerly know ...

Daily Headline - global.abi.org - 03/16/2015 - 20:00 - 0 comments

In Nationwide Protests, Angry Brazilians Call for Ouster of President

Hundreds of thousands of protesters took to the streets in cities across Brazil on Sunday to express their ire at President Dilma Rousseff, raising pressure on her as she grapples with an onslaught of challenges including an economy mired in stagnation, ...

Daily Headline - global.abi.org - 03/15/2015 - 21:22 - 0 comments

Petrobras Scandal Threatens To Scupper Brazil Austerity Drive

Brazil’s currency slid to a 10-year low against the dollar on Wednesday as concerns grew that a corruption scandal at state-run oil group Petrobras engulfing the country’s political elite threatens to scupper the government’s austerity drive, the Finan ...

Daily Headline - global.abi.org - 03/05/2015 - 00:11 - 0 comments

As Brazil Tightens Belt, Other Woes Follow

President Dilma Rousseff ’s administration, fearful of a potential loss of Brazil’s investment-grade debt rating, is stepping up austerity measures, angering supporters and exacerbating an already painful economic slowdown, The Wall Street Journal re ...

Daily Headline - global.abi.org - 03/01/2015 - 21:36 - 0 comments

Multinationals Face Scrutiny On Petrobras

As a virtual monopoly in a country with some of the most promising offshore oil reserves in the world, Petrobras has a web of relationships with most of the global leaders in the sector, the Financial Times reported. Those linked to the growing scand ...

Daily Headline - global.abi.org - 02/23/2015 - 00:28 - 0 comments

Brazil's Eneva Proposes Up To 65 Percent Debt Haircut In Bankruptcy Plan

shares at 0.15 reais each. Read more. (Brazil) Creditors of Eneva SA stand to lose as much ...

Daily Headline - global.abi.org - 02/12/2015 - 23:20 - 0 comments

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