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  • RIO DE JANEIRO, Dec 17- Petroleo Brasileiro SA's Chief Executive Officer Maria das Graças Foster said on Wednesday that she had offered to resign because of a widening alleged bribery scandal but that Brazil's President Dilma Rousseff had turned her down. "I need to be investigated, we all need to be investigated, that takes time," Foster told journalists at...

  • BRASILIA, Dec 17- Brazilian President Dilma Rousseff's approval rating has not suffered from a widening corruption scandal involving state-run oil company Petroleo Brasileiro SA and many Brazilians continue to trust her, a poll showed on Wednesday. Prosecutors have indicted nearly 40 people, including two former Petrobras directors and executives of...

  • RIO DE JANEIRO, Dec 17- Senior management at Petroleo Brasileiro SA may have to resign to avoid further delays of the Brazilian state-run oil company's audited third-quarter earnings report, Chief Executive Officer Maria das Graças Foster said on Wednesday. Foster said she had spoken to President Dilma Rousseff about the potential resignations, including...

  • Rio prosecutors file new case against Petrobras Tuesday, 16 Dec 2014 | 4:30 PM ET

    RIO DE JANEIRO— Officials from Rio de Janeiro public prosecutors' office said Tuesday that they've filed legal action against Brazil's scandal-mired oil company, Petrobras, as well as top builder Andrade Gutierrez. Authorities there allege top officials from Petrobras operated a kickback scheme on contracts worth upward of $4 billion, with money from the...

  • RIO DE JANEIRO, Dec 16- Prosecutors in Rio de Janeiro said on Tuesday that they were seeking to indict the former chief executive officer of Brazilian state-run oil company Petroleo Brasileiro SA and a leading local construction and engineering firm for fraud. This list includes Jose Sergio Gabrielli, CEO from July 2005 to January 2012 and Renato Duque, the...

  • Julio Camargo, a consultant for contractor Toyo Setal, and lobbyist Fernando Soares were charged along with Cervero with allegedly paying out $40 million in kickbacks to political parties, executives and contractors and accepting $13 million in bribes from Korean shipbuilder Samsung Heavy Industries, the prosecutors said in a statement.

  • Brazil: Google fined in Petrobras probe Monday, 15 Dec 2014 | 1:34 PM ET

    SAO PAULO— A Brazilian court says it has fined Google around $200,000 for refusing to intercept emails needed in a corruption investigation at state-run oil company Petrobras. The federal court in the southern state of Parana said in a statement Monday that Google eventually did share the emails with Brazilian police several months ago but had to pay the fine...

  • Vinicius and Tom named 2016 Olympics mascots Monday, 15 Dec 2014 | 11:26 AM ET

    RIO DE JANEIRO— The mascot for the 2016 Olympics in Rio de Janeiro has been named Vinicius, and the Paralympics mascot will go by the name of Tom. The names honor Brazilian musicians and partners Vinicius de Moraes and Tom Jobim. Vinicius is a yellow cat-like creature that represents Brazil's fauna, and Tom is a bushy-headed figure reminiscent of the country's...

  • The prosecutors said Nestor Cervero, the former head of Petrobras' distribution subsidiary, as well as lobbyist Fernando Soares and Julio Camargo of local contractor Toyo Setal funneled $40 million of kickbacks and accepted $13 million in bribes from Korean shipbuilder Samsung Heavy Industries. Toyo Setal and Samsung Heavy Industries were not...

  • Newspaper: Petrobras told of corruption in 2009 Friday, 12 Dec 2014 | 5:11 PM ET

    SAO PAULO— Brazil's state-run oil company was warned five years ago of the kickback scheme that has plunged Petrobras into one of the country's worst corruption scandals, a newspaper reported Friday. The paper, Valor Economico, said it obtained documents showing that in 2009, former Petrobras executive Venina Velosa da Fonseca warned chief executive Maria...

  • SAO PAULO, Dec 12- Brazil's securities industry watchdog opened eight investigations into executives at state-controlled oil producer Petróleo Brasileiro SA related to a vast graft and money-laundering scheme inside the company, three sources with direct knowledge of the situation said. Rio de Janeiro- based CVM is also extending the inquiries to the...

  • Chef Jamie Oliver eyes empire expansion: Sources Friday, 12 Dec 2014 | 12:53 PM ET
    Celebrity Chef Jamie Oliver, restaurateur and media personality.

    British celebrity chef Jamie Oliver is looking to outside investors to help expand his restaurants and fund an online TV project, sources said.

  • Bigger the mess, bigger the opportunities: Pro  Friday, 12 Dec 2014 | 12:49 PM ET

    Amid an oil selloff, Andres Garcia-Amaya, JPMorgan Asset Management, finds emerging opportunities.

  • Brazil charges 35 in Petrobras scandal Thursday, 11 Dec 2014 | 2:11 PM ET

    SAO PAULO— Prosecutors investigating a sprawling kickback scheme at Brazil's state-run oil company Petrobras filed charges Thursday against 35 people, including executives from some of the nation's biggest construction firms. The formal charges cap a months-long investigation dubbed "Operation Car Wash," which is proving to be one of Brazil's biggest...

  • BRASILIA/ SAO PAULO, Dec 11- The Brazilian government is working on a plan to help embattled state-controlled oil producer Petrobras borrow money through an offering of asset-backed securities before year end, Mines and Energy Minister Edison Lobão said on Thursday. The plan, under which the National Treasury and state-run power holding company Eletrobras...

  • SAO PAULO, Dec 11- Brazilian retailers are expecting their worst Christmas season in a decade and signs are pointing to an unhappy New Year ahead. But most consumer companies, such as cosmetics maker Natura SA and apparel chain Cia Hering, are likely to continue to struggle with weak demand. Brazil's National Confederation of Commerce estimated Christmas sales...

  • Petrobras funding options run slim as scandal deepens Wednesday, 10 Dec 2014 | 9:55 AM ET

    SAO PAULO, Dec 10- Brazil's state-controlled oil firm Petrobras may have to hike fuel prices, cut spending or seek a capital injection from the government next year as a widening corruption probe threatens to temporarily leave it out of capital markets. If auditors fail to approve its annual results by April, that could trigger early repayment of as much as $11...

  • After protests, Brazil cities try again to hike bus fares Wednesday, 10 Dec 2014 | 9:55 AM ET

    SAO PAULO, Dec 10- Brazilian cities are pressing ahead with plans to raise bus fares, despite threats of a repeat of street protests that shook President Dilma's Rousseff's government last year. The fare hikes are seen as an important test case for Rousseff's plan to roll out several unpopular measures, including higher taxes and budget cuts, in an effort to...

  • Brazil seek charges for 13 in Petrobras case Wednesday, 10 Dec 2014 | 9:11 AM ET

    SAO PAULO— Brazil's Federal Police agency has asked prosecutors to file charges against 13 people suspected of involvement in the corruption scandal engulfing the state-owned oil company Petrobras. Youssef, who has been talking to police in exchange for a lighter sentence, recently claimed that re-elected President Dilma Rousseff and former President...

  • *Bankruptcy protection petition will preserve cash- Eneva. SAO PAULO/ FRANKFURT, Dec 10- Eneva SA, the Brazilian power producer controlled by Germany's E.ON SE and Eike Batista, filed for creditor protection late on Tuesday, becoming the latest company founded by the tycoon to seek bankruptcy protection. E.ON gained control of Eneva, formerly MPX Energia SA, last...