“OI” IS a cheerful, informal greeting in Brazilian Portuguese. But after the telecoms operator of the same name made the largest bankruptcy-protection filing in Brazilian history on June 20th, the country may finally be saying goodbye to its hopes of creating a strong, state-backed national champion. Brazil’s interim government says it will not bail out […]
Read MoreIn the saga of Brazil’s oil industry, QGEP Participacoes has always flown mostly under investors’ radar. It’s no heavyweight like state-run Petrobras, nor has it ever been as flashy as OGX, ex-billionaire Eike Batista’s startup. But among producers that sold more than $77 billion in stock after Brazil discovered massive offshore crude deposits in 2007, QGEP […]
Read MoreThe new chief executive officer of Petroleo Brasileiro SA looks like he’s going to be making fans in the ethanol industry. Pedro Parente, who was sworn in as the head of Brazil’s state-owned oil producer this month, has made clear that the era of government-subsidized domestic gasoline is over. That’s likely to raise prices and […]
Read MoreWITH bearded baristas and furniture cobbled together from wooden crates, Curto Café in Rio de Janeiro is a typical outpost of Brazil’s nascent hipster scene. Aficionados of its organic coffee do not pay set prices; instead they pay what they think reasonable—or what they can afford. This, says Gabriel Magalhães, one of Curto’s founders, is […]
Read MoreBrazilian renewable energy company Renova Energia SA, which is seeking fresh capital following a failed asset sale last year, could see a new partner joining its controlling bloc within three months, three sources with direct knowledge of the matter said on Thursday. Renova, controlled by Cia Energetica de Minas Gerais SA and subsidiary Light Energia […]
Read MoreWhy are we so rich? An American earns, on average, $130 a day, which puts the U.S. in the highest rank of the league table. China sits at $20 a day (in real, purchasing-power adjusted income) and India at $10, even after their emergence in recent decades from a crippling socialism of $1 a day. […]
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