Brazil

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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

Brazil’s OAS Said to Seek $760 Million Loan After Payment Missed

OAS SA, the Brazilian builder that skipped bond payments this month as it tries to restructure debt, is seeking a 2 billion-real ($760 million) loan that would be repaid with proceeds from asset sales, three people with knowledge of the matter said, Bloo ...

Daily Headline - global.abi.org - 01/11/2015 - 19:55 - 0 comments

Brazil Orders Spending Cuts Until Budget Bill for 2015 Approved

Brazil’s Planning and Budget Ministry ordered the federal government to cut some spending until the country’s congress approves a budget law for 2015, The Wall Street Journal reported. The measure, which is more restrictive than existing rules, is an ...

Daily Headline - global.abi.org - 01/08/2015 - 22:38 - 0 comments

Rousseff Vows Brazil Economic Adjustment With Minimum Pain

President Dilma Rousseff said she will tighten Brazil’s budget, increase investment and productivity in an effort to restart economic growth, while minimizing “sacrifices” by the population, Bloomberg News reported. “We will prove that economic adjustmen ...

Daily Headline - global.abi.org - 01/01/2015 - 20:40 - 0 comments

Petrobras Finds Itself In Deep Water

There are not many executives who have asked their boss three times whether they should be fired and survived. Maria das Graças Foster, chief executive of Petrobras, Brazil’s crisis-stricken state-owned oil company, says she’s one, the Financial Times ...

Daily Headline - global.abi.org - 12/29/2014 - 22:30 - 0 comments

Creditors Approve Brazil Shipbuilder OSX's Bankruptcy Plan

Creditors approved Brazilian shipbuilder OSX Brasil SA's revamped plan to emerge from bankruptcy late on Wednesday, giving a boost to efforts by controlling shareholder Eike Batista to keep the company afloat while refinancing over $2.6 billion in d ...

Daily Headline - global.abi.org - 12/17/2014 - 21:50 - 0 comments

Brazil Ailing Power Producer Eneva Files For Creditor Protection

Eneva SA, the ailing Brazilian producer controlled by Germany's E.ON SE, filed late on Tuesday for credit protection in a Rio de Janeiro court after failing to refinance part of its 2.33 billion reais ($900 million) in outstanding debt, Reuters repo ...

Daily Headline - global.abi.org - 12/09/2014 - 22:21 - 0 comments

Brazil to Revise Economic Plan

administration has also cut to 0.8% from 3% Brazil’s 2015 growth forecast. The central bank, meanwhile, has ...

Daily Headline - global.abi.org - 12/09/2014 - 22:24 - 0 comments

Brazil’s Middle Class Finds a Lifeline at the Pawnshop

Interest rates in Brazil would make an American loan shark blush. Credit cards charge more than 240 percent a year. Bank loans top 100 percent, the International New York Times DealBook blog reported. For a rising number of consumers in need of cash, ...

Daily Headline - global.abi.org - 12/03/2014 - 22:29 - 0 comments

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