Minas Gerais News
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Abengoa SA’s net income jumped last year, exceeding analysts’ estimates by 22 percent as sales from its engineering and construction division surged.
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Techint Group, through its Confab Industrial SA and Ternium SA units, is trying to obtain two syndicated loans totaling as much as $1.05 billion to finance the acquisition of a stake in Usinas Siderurgicas de Minas Gerais SA, according to two people familiar with the talks.
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Ternium SA, Latin America’s second- largest steelmaker, declined after fourth-quarter profit missed analysts’ estimates and it forecast lower operating income for this quarter.
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Cia. Energetica de Minas Gerais’s drive to expand through mergers and acquisitions and boost dividends is making the power company the top stock pick for 2012 at Banco do Brasil SA’s 20-percent-return energy fund.
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Harbinger Capital Partners LLC, the New York-based hedge fund run by billionaire Phil Falcone, is seeking to sell shares in Brazilian iron-ore producer Ferrous Resources Ltd. to raise cash for loan repayments.
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Cia Energetica de Minas Gerais, Brazil’s third-largest electricity company by market value, agreed to buy 40 percent of a gas distributor from Petroleo Brasileiro SA.
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Bovespa futures gained, a sign the stock gauge may rebound from yesterday’s drop, after inflation slowed more than forecast in Sao Paulo, Brazil’s biggest city, spurring speculation policy makers will have more room to lower borrowing costs to shore up growth.
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Ferrous Resources Ltd., the iron-ore miner backed by billionaire Philip Falcone’s Harbinger Capital partners LLC, appointed Jayme Nicolato Correa as chief executive officer, a person familiar with the situation said.
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Brazil’s southeastern state of Minas Gerais created a mining tax on the exploration of iron ore and other minerals that are not processed in the state, Valor Economico Reported, citing Minas’s finance secretary, Leonardo Colombini.
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Eike Batista, who became Brazil’s richest person by selling shares in commodities and logistic startups, is considering entering the coffee market after setting up catering and sports management ventures last year.
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