Albioma, the French biomass-energy producer, plans to spend 1.2 billion reais ($521.2 million) buying and upgrading sugar-cane power plants in Brazil, Valor Economico SA reported, citing Frederic Moyne, president of the company’s local unit.
Brazilian President Dilma Rousseff is mobilizing her cabinet to persuade the nation’s highest court to delay ruling on a case that could cost banks $65 billion and shrink credit, according to two government officials briefed on the matter.
OGX Petroleo & Gas Participacoes SA’s bankruptcy protection filing in Latin America’s largest corporate default is dimming the prospect holders of the world’s worst-performing bonds will recoup their ill-fated investment in Eike Batista’s oil ambitions.
OGX Petroleo & Gas Participacoes SA, Eike Batista’s oil company, surged a third day amid speculation it will get a capital injection from investors as its negotiates to restructure debt after firing its chief executive officer.
Brazilian President Luiz Inacio Lula da Silva requested a group of ministers and aides prepare a bill to toughen laws on foreign ownership of land, Valor Economico reported, citing Agrarian Development Minister Guilherme Cassel .
Emerging-market stocks fell, capping the biggest weekly drop since August, as China’s money-market rates jumped and concern grew that earnings will falter. Indonesia’s rupiah posted its best week since June 2009.