Business News Rio de Janeiro

  • SAO PAULO, March 22- The arrest of a former Brazilian president on corruption charges is raising questions about how a Swedish consulting company won a contract to help build a nuclear power plant at the center of what prosecutors say was a massive bribery and kickback scheme. The company, now known as AF Poyry, on Thursday became the latest in a series of...

  • YOKOHAMA, Japan, March 20- In September 2007, despite weighty responsibilities at the helm of Nissan Motor Co and alliance partner Renault SA, Carlos Ghosn found time to get involved in a seemingly straightforward business decision. Two days before Nissan's executive committee was due to formalise the choice of a company called TVS as a partner for sales and...

  • SAO PAULO, March 19- Brazilian miner Vale SA said on Tuesday that a local court had cleared the way for it to resume operations at its Brucutu mine, its largest iron ore complex in the state of Minas Gerais, the country's longtime mining heartland. Laranjeiras receives waste material from Brucutu, which has an installed capacity of 30 million tonnes of iron ore, or...

  • RIO DE JANEIRO, March 15- Roberto Castello Branco, the chief executive of Brazil's Petroleo Brasileiro SA, said on Friday he believes the company will divest some $10 billion in assets in the first four months of 2019, aided by the sale of a major pipeline unit. At the same event in Rio de Janeiro, Brazilian Economy Minister Paulo Guedes said Petrobras, as the firm is...

  • SAO PAULO, March 11- The town of Mangaratiba, in Brazil's Rio de Janeiro state, fined miner Vale SA and closed its iron ore port terminal on Monday, citing pollution problems and the alleged lack of an operating license. In a statement, Mayor Alan Costa said Vale needs to "comply with environment laws." Around 40 million tonnes of iron ore go through Vale's Ilha da Guaiba...

  • SAO PAULO/ RIO DE JANEIRO, March 8- Five years after Brazilian prosecutors exposed a long-running bribes-for-contracts racket at state-run oil firm Petrobras, the company is proclaiming it has cleaned up its act. It has run TV spots touting its whistleblower hotline as well as a compliance department created in the wake of Brazil's epic "Car Wash" corruption...

  • RIO DE JANEIRO/ SAO PAULO, March 3- Investors were skeptical on Sunday about the surprise decision by Brazil's Vale SA to remove its high-profile chief executive in the wake of a deadly January accident at one of the world's largest iron ore miner's facilities. Vale's board dismissed CEO Fabio Schvartsman, as well as three other executives including chief of...

  • RIO DE JANEIRO/ BRASILIA, March 2- Brazilian authorities investigating the fatal January collapse of a dam owned by miner Vale SA have recommended the removal of the firm's chief executive and several other high-ranking employees, national media reported on Saturday. State and federal prosecutors have recommended the "immediate removal" of CEO Fabio...

  • SAO PAULO/ RIO DE JANEIRO, Feb 15- Brazilian police arrested eight employees of mining company Vale SA as part of a criminal investigation into the causes of a deadly dam disaster, prosecutors said on Friday. The tailings dam in the town of Brumadinho burst on Jan. 25, killing at least 166 people. Among those arrested was Vale's Alexandre de Paula Campanha, who was...

  • SAO PAULO, Feb 15- Brazilian police arrested eight employees of mining company Vale SA as part of a criminal investigation into the causes of the deadly dam disaster in the town of Brumadinho, state prosecutors said on Friday. Authorities in the state of Sao Paulo, Minas Gerais and Rio de Janeiro are involved in the operation, state prosecutors said.

  • RIO DE JANEIRO, Feb 12- Senior management at Brazilian miner Vale were never shown internal security documents indicating that its dam at Brumadinho was at risk of collapse, the company's chief financial officer said on Tuesday. The CFO, Luciano Siani, was asked about management's knowledge of the internal documents at a news conference a day after Reuters...

  • RIO DE JANEIRO, Feb 12- Senior management at Brazilian miner Vale were never shown internal security documents indicating that its dam at Brumadinho was at risk of collapse, the company's chief financial officer said on Tuesday. The CFO, Luciano Siani, was asked about management's knowledge of the internal documents at a news conference a day after Reuters...

  • BRUMADINHO, Brazil, Jan 31- Residents devastated by a mining dam burst in Brazil that may have killed more than 300 people reacted on Thursday with indifference and in many cases anger to miner Vale SA's pledges to pay victims' families and improve safety. With 110 people confirmed dead and another 238 missing, according to firefighters' count on Thursday evening,...

  • BRASILIA/ BRUMADINHO, Brazil, Jan 29- Vale SA, the world's largest iron ore miner, on Tuesday vowed to take as much as 10 percent of its ore output offline in order to decommission 10 more dams like the one that burst last week, killing scores of workers and nearby residents. Chief Executive Fabio Schvartsman said it would temporarily paralyze operations using those...

  • RIO DE JANEIRO/ BRUMADINHO, Brazil, Jan 29- Three employees of Brazilian miner Vale SA and two contractors were arrested on Tuesday, prosecutors said, as a criminal investigation began after a devastating dam rupture expected to leave a death toll of more than 300 people. Two other engineers, who worked for Germany's TUEV SUED on a contract where they attested to...

  • RIO DE JANEIRO/ BRUMADINHO, Brazil, Jan 29- Three employees of Brazilian miner Vale SA and two contractors were arrested on Tuesday, prosecutors said, as a criminal investigation began after a devastating dam rupture expected to leave a death toll of more than 300 people. Two other engineers, who worked on behalf of Vale and are accused of attesting to the safety of...

  • BRUMADINHO, Brazil/ RIO DE JANEIRO, Jan 29- Three employees of Brazilian miner Vale SA and two other engineers working on behalf of the company were arrested on Tuesday, state prosecutors said, deepening a crisis for the company after another deadly disaster at one of its mines. The tragedy has enraged many in Brazil, and raised fresh questions about Vale's...

  • HOUSTON, Jan 28- Chevron Corp has agreed to buy a Texas oil refinery with a troubled past and space to handle a coming flow of shale from its West Texas operations, two sources familiar with negotiations said on Monday. The plant is operated by Pasadena Refining System Inc, a Texas- based unit of Brazil's state-run oil firm Petroleo Brasileiro SA.

  • HOUSTON, Jan 28- Chevron Corp has agreed to buy a Texas oil refinery with a troubled past and space to handle a coming flow of shale from its West Texas operations, two sources familiar with negotiations said on Monday. The plant is operated by Pasadena Refining System Inc, a Texas- based unit of Brazil's state-run oil firm Petroleo Brasileiro SA.

  • BRASILIA/ RIO DE JANEIRO, Jan 25- Brazilian rescuers were searching for some 200 missing people after a tailings dam burst on Friday at an iron ore mine owned by Vale SA, the second major dam disaster involving the company in just over three years. Minas Gerais is still recovering from the collapse in November 2015 of a larger dam that killed 19 people in Brazil's...