Aldemir Bendine, chief executive officer of Banco do Brasil SA. Photographer: Paulo Fridman/Bloomberg
Petroleo Brasileiro SA, the state-run oil producer battered by months of bad publicity from a corruption probe and asset writeoffs, reported some surprising good news.
The company posted $7.2 billion in one measure of first-quarter earnings, beating analysts’ expectations by 23 percent, after a fuel price increase allowed its refining and supply unit to turn a profit for the first time since late 2010...Read more
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