Monthly Archives: March 2016

Petrobras to Dismiss 12 thousand Employees

As you all know, Brazil is currently at the peak of a dangerous political crisis. Yesterday Lula was appointed Chief of Staff, then it wasn’t anymore. People were out in the streets and there were news of localized violence. The impeachment committee’s member were chosen and it looks like it will proceed full-on to knock down […]

Vale to Seek Growth Through Acquistion

Vale, the world’s largest iron ore mining company, announced today Tuesday that it plans to acquire as much as 25 percent, worth USD 965 million, in its erstwhile Australian rival Fortescue Metals Group as both companies seek to carve out more market share in China. The agreement between Vale and Fortescue comes as iron ore prices are on a recovery […]

Federal Police Quiz Former President Lula

This morning the country woke up to the news of former president Lula being ‘coercively’ brought by the Federal Police for questioning regarding the ongoing expansive corruption investigation in Brazil.  Prosecutors say Lula may have profited from a payments from construction companies investigated in connection to the Petrobras graft scandal. Specifically, Lula may have benefited from renovations […]

The Unbearable Lightness of Petrobras

Following a very (or not….) controversial vote from the Congress last week, we need to understand why the Petrobras collapse and the pre-salt is so important for Brazil. For those who read Portuguese, here is a highly recommended reading from today’s Estadão: http://economia.estadao.com.br/noticias/geral,a-insustentavel-leveza-da-petrobras,10000018942 PS: Sorry for skipping the Moody’s downgrade last week. I was out for a […]

Emerging Markets Insights

a blog by Frontier Strategy Group

longandvariable

A blog on macroeconomics and public policy by Tony Yates.