Argentine Cabinet Chief Jorge Capitanich said an agreement to pay Repsol SA $5 billion in compensation for the expropriation of its controlling stake in YPF SA will open the door for increased energy investment.
Petroleo Brasileiro SA’s Argentine unit will invest at least $50 million as part of an agreement with Neuquen province to extend a shale oilfield license for 10 years, three people with knowledge of the plan said.
Royal Philips NV said the strength of the euro will make 2014 a “challenging” year after the world’s biggest lighting manufacturer reported first-quarter earnings that missed analyst estimates. The stock declined the most since June 2011.
Argentina got a skeptical reception at the U.S. Supreme Court as the justices considered whether two banks must turn over details about the country’s assets as part of a multibillion-dollar fight over defaulted government bonds.
Talks to merge the world’s biggest gold-mining companies, Barrick Gold Corp. and Newmont Mining Corp., broke down three days ago amid minor disagreements that leave open the possibility that a deal could be revived, two people with knowledge of the matter said.