Petrobras shares slump as Brazil’s Bolsonaro doubles down on intervention

© Reuters. FILE PHOTO: A logo of Brazil’s state-run Petrobras oil company is seen at its headquarters in Rio de Janeiro By Sabrina Valle and Gram Slattery RIO DE JANEIRO (Reuters) – Petrobras shares plunged 22% on Monday, wiping out 71 billion reais ($ 13 billion) in market value, as Brazilian President Jair Bolsonaro again […]

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Brazil’s Petrobras executive management in talks on possible mass resignation – sources

By Sabrina Valle RIO DE JANEIRO (Reuters) – Petroleo Brasileiro SA’s executive management is considering resigning en masse after the Brazilian government decided to replace Chief Executive Roberto Castello Branco, three people close to the management said, asking not to be named as information is private. President Jair Bolsonaro earlier said he had decided to […]

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Brazil’s Petrobras to spend $6 billion through 2024 to dismantle platforms, pipelines and wells

© Reuters. People walk in front of the headquarters of Petroleo Brasileiro S.A. (Petrobas) in Rio de Janeiro RIO DE JANEIRO (Reuters) – Brazil’s state-controlled oil producer Petroleo Brasileiro SA (SA:) plans to spend $ 6 billion through 2024 to decommission 18 offshore platforms, underwater gas pipelines and offshore wells, the company said in a […]

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Brazil’s government backs new basic income payments to poor

2/2 © Reuters. Outbreak of the coronavirus disease (COVID-19), in Rio de Janeiro 2/2 By Ricardo Brito and Marcela Ayres BRASILIA (Reuters) – Brazil’s government on Monday detailed how it would pay for a new minimum income program called Renda Cidada, with President Jair Bolsonaro and Economy Minister Paulo Guedes still pledging to honor the […]

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Brazil’s economy in Nike ‘swoosh’ shape recovery: economy minister

© Reuters. Brazil’s Economy Minister Paulo Guedes look on during a press statement in Brasilia BRASILIA (Reuters) – Brazil’s economy is recovering in the shape of a Nike (NYSE:) “swoosh,” Economy Minister Paulo Guedes said on Wednesday, adding that a program to help finance company payrolls will more than double its reach in the coming […]

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Brazil’s privatization czar resigns amid economic slowdown

© Reuters. BRASILIA (Reuters) – Brazil’s privatization secretary Salim Mattar resigned on Tuesday, economy minister Paulo Guedes said, suggesting he was leaving the government because of the slow pace of privatizations so far, which has been affected by the coronavirus pandemic. Guedes, who wants to privatize many state-run companies, said he still hopes to privatize […]

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Brazil’s offshore oil workers chilled by coronavirus outbreaks

2/2 © Reuters. FILE PHOTO: A worker walks on the heliport at the Brazil’s Petrobras P-66 oil rig in the offshore Santos basin in Rio de Janeiro 2/2 By Gram Slattery RIO DE JANEIRO (Reuters) – On Friday, May 1, two workers on the PXA-1 offshore platform owned by Brazil’s state-run oil company Petrobras checked […]

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Brazil’s Guedes says tax reform proposal ready, needs political agreements to move forward

© Reuters. BRASILIA (Reuters) – Brazil’s economy minister, Paulo Guedes, said on Friday that the tax reform proposed by President Jair Bolsonaro’s government is ready and now requires political agreements to move forward. “It is absolutely ready to be dispatched, and now we have to make the political arrangements to see how we are going […]

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Brazil’s Guedes says government to make two more payments of 600 reais to informal workers

© Reuters. Brazil’s Economy Minister Paulo Guedes adjusts his protective face mask before the inauguration ceremony of the new Communications Minister Fabio Faria (not pictured) at the Planalto Palace, in Brasilia BRASILIA (Reuters) – Brazil’s economy minister Paulo Guedes said on Tuesday that the government will officially extend a 600-real per month emergency aid to […]

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Brazil’s real surges through 5.00 per dollar, chalks up best week since 2008

© Reuters. By Jamie McGeever BRASILIA (Reuters) – Brazil’s real surged on Friday through 5.00 per dollar for the first time since March, sealing its biggest weekly rise in nearly 12 years after surprisingly strong U.S. employment data sparked a buying spree in riskier, beaten down assets. The real, long the pariah on international foreign […]

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