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  • Petrobras' production woes     Monday, 17 Nov 2014 | 1:25 PM ET

    Petrobras says it is not going to meet its 2014 production targets, and will delay its earnings report indefinitely. CNBC's Michelle Caruso-Cabrera has all the details.

  • RIO DE JANEIRO, Nov 17- Brazil's state-run oil company Petroleo Brasileiro SA vowed on Monday to fully investigate a graft scandal that has knocked its shares lower and saddled President Dilma Rousseff's government with its biggest political crisis. That raises the prospect of a long period of uncertainty for a company that was once the crown jewel of...

  • Petrobras to create department to fight corruption Monday, 17 Nov 2014 | 11:35 AM ET

    SAO PAULO— The head of Brazil's Petrobras vowed Monday to use a widening corruption scheme to improve governance at the state-run oil giant, in part through creation of a compliance department aimed at stamping out corruption. In her first public remarks since the arrests of around two dozen people including a top company executive late last week, Graca Foster...

  • BRASILIA, Nov 17- Brazil's President Dilma Rousseff, who canceled a White House trip last year in anger over U.S. spying revelations, now wants to improve ties and reschedule the state visit- but some U.S. officials warn it might not be that easy. A debate in Washington over whether and when to re-extend the invitation to Rousseff reflects persistent diplomatic...

  • BUSINESS-NEWS-SCHEDULE AT 2200 GMT / 5 PM ET Sunday, 16 Nov 2014 | 4:46 PM ET

    WASHINGTON- President Barack Obama defends the transparency of his signature healthcare law after a White House adviser on the reform said the law passed, in part, because of the "stupidity" of American voters. ALLERGAN, ACTAVIS NEAR DEAL, ANNOUNCEMENT AS EARLY AS MONDAY. NEW YORK- Allergan nears a deal to merge with Actavis Plc, with an announcement coming as soon as...

  • President: oil firm probe could change Brazil Sunday, 16 Nov 2014 | 2:04 PM ET

    SAO PAULO— The investigation into kickbacks at Brazil's state oil company could forever change the relationship among society and the country's state and private companies, President Dilma Rousseff said Sunday. Rousseff spoke to mostly Brazilian reporters at a news conference in Brisbane, Australia, where a two-day summit with world leaders was ending.

  • RIO DE JANEIRO/ SAO PAULO, Nov 14- Brazilian police arrested a former Petróleo Brasileiro SA executive on Friday, sending the state-run oil company's shares and bonds down after a widening corruption scandal forced it to delay the release of its financial results. Former engineering director Renato Duque was the second senior executive arrested at...

  • RIO DE JANEIRO, Nov 14- Brazilian police arrested a former Petrobras executive on Friday and the state-run oil giant's shares sank 5 percent after it was forced by a widening corruption scandal to delay the release of its financial results. Former engineering director Renato Duque was the second senior Petrobras executive arrested in the investigation into...

  • RIO DE JANEIRO, Nov 14- Shares of Brazil's Petrobras plummeted 5 percent on Friday after the state-run oil firm delayed releasing its results amid a police investigation into corruption that has already ensnared a former senior executive. Petrobras shares opened over an hour and a half after the rest of the Bovespa index, with the chief executive of the bourse,...

  • Brazil execs arrested as Petrobras scandal grows Friday, 14 Nov 2014 | 8:24 AM ET

    RIO DE JANEIRO— Federal police on Friday sharply expanded what is becoming Brazil's biggest political kickback scandal, arresting top construction company executives and detaining another former director of the state-run energy company. Petrobras is Brazil's biggest company and is in charge of tapping big offshore oil fields and creating wealth that...

  • There could be "damaging political implications" for Brazil's President Dilma Rousseff in the fallout from the Petrobras scandal, which could also affect investors directly says Jimena Blanco, senior analyst for Latin America at Maplecroft.

  • Roberto Jaguaribe, Brazilian ambassador to the UK, says the investigation into corruption allegations at Petrobras will not stop investment in the country's energy sector.

  • Should you worry about the Petrobras scandal?     Thursday, 13 Nov 2014 | 12:00 PM ET

    A prolonged decline in oil prices should not hurt investment in Brazil's energy sector, and neither should the Petrobras scandal, says Roberto Jaguaribe, the Brazilian ambassador to the UK.

  • ‘Double trouble’ for Russia; outlook 'darkens' Thursday, 13 Nov 2014 | 11:55 AM ET

    Major countries’ credit ratings are under threat from falling oil prices and weaker global economic growth and Russia may be the most vulnerable.

  • SAO PAULO, Nov 12- Brazilian homebuilder MRV Engenharia e Participacoes SA beat profit expectations for the third quarter as strong demand for low-income housing helped offset a rise in cancellations. Belo Horizonte, Brazil- based MRV said on Wednesday that net income rose 3.3 percent to 135 million reais in the quarter from a year earlier, beating estimates of...

  • Small Brazilian iron ore miners soldier on amid low prices Wednesday, 12 Nov 2014 | 10:24 AM ET

    Interviews with five iron ore "juniors" operating in Brazil showed players in this section of the industry, helped by cheap development bank loans and the flexibility to sell locally or abroad, are not being forced out of business at the pace larger rivals hope. The "big three" in iron ore, Brazil's Vale, Australia's BHP Billiton and Rio Tinto, argue the...

  • SAO PAULO, Nov 11- A Brazilian minister resigned on Tuesday and urged leftist President Dilma Rousseff to appoint an "independent" new economic team to "restore confidence and credibility" among investors, in an unusual public critique from an ally. Culture Minister Marta Suplicy, a former mayor of Sao Paulo and a senior figure in the ruling Workers' Party, had been...

  • TORONTO, Nov 10- Global mining companies stung by slumping commodity prices are looking forward to a modest consolation prize- weaker local currencies and falling oil prices that will help trim their costs. "It's definitely a silver lining," said Chris Mancini, analyst at Gabelli Gold Fund. Agnico Eagle Mines Ltd, which produces two-thirds of its gold in Canada,...

  • SAO PAULO, Nov 10- Brazil's Embraer SA, the world's third-largest commercial planemaker, said on Monday that operations were returning to normal at its main factory in the state of Sao Paulo after workers ended a strike that lasted nearly five days. Embraer stood firm on its final offer of a 7.4 percent raise. Representatives for Embraer said operations at the...

  • MOSCOW, Nov 10- Russia launched on Monday a state-of-the-art media organization with hundreds of journalists abroad intended to wean the world off what it called aggressive Western propaganda- dubbing it with echoes of the Cold War, Sputnik. In a hi-tech presentation in a media center once used to host Cold War-era press conferences, one of President Vladimir...