MercoPress. South Atlantic News Agency
Petrobras losses in 4Q climb to US$ 10bn; more staff cuts expected
Brazil's state-run oil company, Petrobras, reported a record quarterly loss of $10.2 billion on Monday due to a large reduction in the value of some assets amid lower oil prices. Petrobras has been at the center of a sprawling corruption scandal that has ensnared some of Brazil's most powerful lawmakers and business executives. Read full article
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Disclaimer & comment rulesREF: “Petrobras' image lost its luster amid Mismanagement AND Corruption”: Which State-Owned Company is NOT infested with these two and Many Other Problems?
Mar 22nd, 2016 - 09:08 am - Link - Report abuse 0http://www.bloomberg.com/news/articles/2016-03-21/brazil-real-declines-as-reverse-swaps-offset-impeachment-hopes
Mar 22nd, 2016 - 10:57 am - Link - Report abuse 0The West is every day more bankrupt! The crisis in Brazil and yet their currency (euro / dollar) continues to depreciate.
Brazil is forced to drive real of our economy to sell to speculators in exchange for dollars that fill our market. With the inauguration in May/2016 of the BRICS Bank this will not happen anymore.
It will be the end of the dollar as convertible currency!
Huh?
Mar 22nd, 2016 - 11:29 am - Link - Report abuse 0Why will this change anything for Brazil?
It is Russian, Chinese and Brazilian government debt that is climbing. Government debt in the west has mostly stabilised and even started dropping.
No one is forcing Brazil to do anything. You are too busy stealing from each other for us to care about your economy.
“Investors will test the central bank until knowing what it actually intends to do, and understand it if is intended to tackle it either the exaggerated appreciation of the real or to purchase back outstanding contracts,” said Italo Abucater, the head of currency trading at ICAP Brasil Ctvm in Sao Paulo.
Mar 22nd, 2016 - 11:45 am - Link - Report abuse 0There's only so much currency manipulation they can do before the maket dings them for it.
They're doing a lot of damage to their markets screwing around like this.
The truth is that the QE-4 has begun! As the exaggerated increase in liquidity in the euro area.
Mar 22nd, 2016 - 11:58 am - Link - Report abuse 0The Currency War is declared!
And this time, unlike 2011, we did not stay neutral.
Brazil is fighting alongside the BRICS!
https://www.youtube.com/watch?v=MvxkULQhMPE&index=9&list=FLmXPTu1f8AdGlizWNiASx2A
If there's a currency war Brazil will lose.
Mar 22nd, 2016 - 01:20 pm - Link - Report abuse 0Your very meahger reserves are all tied up with crazy cross swaps and future contracts already.
If a group of hedge funds want to bring the currency down there's little to stop them.
Hyper-Super-Mega Inflation is likely to return to Brazil. The Current Currency Rate & the accompanying Share-Prices is a mere speculation and in a couple of weeks, the investors are very likely to get disillusioned.
Mar 22nd, 2016 - 01:38 pm - Link - Report abuse 0A very old saying is: “BUY the rumor, SELL the news”
@2 Brasshole
Mar 25th, 2016 - 05:53 pm - Link - Report abuse 0do you really think that by attacking the rest of the world will solve Brazil's problems ? but tell me, from which hole are you spaeking, the one in your face or the one you sit on ?
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