Brazil

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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 - 20:36 - 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 - 02/22/2015 - 23:28 - 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 - 22:20 - 0 comments

A Corruption Scandal at Petrobras Threatens Brazil’s Bond Market and Economy

engineering and oil services firms. The drop in the company’s spending will probably shave 0.75 percent off ...

Daily Headline - global.abi.org - 02/11/2015 - 22:45 - 0 comments

Brazil Police Seize Luxury Cars, Cash From Fallen Tycoon Batista

Brazilian police said they seized seven cars, including a white Lamborghini, and $32,490 in cash, computers, watches and other items on Friday from embattled oil and mining tycoon Eike Batista, who is on trial for insider trading in Rio de Janeiro, Reute ...

Daily Headline - global.abi.org - 02/08/2015 - 23:27 - 0 comments

Brazilian Judge Expands Freeze to All of Eike Batista’s Assets

A judge in Rio de Janeiro has ordered the freezing of all of embattled businessman Eike Batista ’s financial assets and ordered the seizure of up to 1.5 billion reais ($547 million) of his physical assets, including real estate, The Wall Street Journal ...

Daily Headline - global.abi.org - 02/04/2015 - 21:48 - 0 comments

Brazil Court Seizes Some Of Builder OAS's Shares In Invepar

A court in Brazil's São Paulo state seized on Friday 8.9 percent of the shares that construction group OAS SA has in infrastructure company Investimentos e Participações em Infraestrutura SA, alleging that the debt-ridden group is in imminent risk o ...

Daily Headline - global.abi.org - 02/01/2015 - 22:38 - 0 comments

Petrobras Draws A Blank On Cost Of Fraud Scandal

Brazil's Petrobras has admitted it is so far unable to calculate how much money was stolen from the company in a vast corruption scandal that has shaken confidence in the world’s second-largest emerging market, the Financial Times reported. Afte ...

Daily Headline - global.abi.org - 01/28/2015 - 21:35 - 0 comments

Latin American Default Wave Just Getting Started: Credit Markets

Latin America is turning into the world leader in corporate-bond defaults, Bloomberg News reported. Four companies in the region have skipped dollar-denominated debt payments this month, more than any other area and almost half the total in all of 2014. ...

Daily Headline - global.abi.org - 01/22/2015 - 22:35 - 0 comments

Brazil Raises Taxes On Fuel And Loans To Plug Budget Deficit

Brazil will next month increase taxes on fuel and loans to individuals and adjust other duties to help plug the government’s yawning budget deficit, the Financial Times reported. New finance minister Joaquim Levy announced the measures on the eve of ...

Daily Headline - global.abi.org - 01/19/2015 - 23:41 - 0 comments

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