New Petrobras CEO must walk political, accounting mine field

By picking a banker instead of an oil executive to run Petrobras, Brazilian President Dilma Rousseff appears to have recognized that the state-run company's biggest priority is to clean up its books and acknowledge how many billions of dollars it lost to a corruption scheme in recent years.


Russians write open letter to Putin over foreign-currency mortgages

Russians with foreign-currency mortgages have written an open letter to President Vladimir Putin seeking help with repayments that have soared because of the ruble's plunge, saying they were misled by banks.

Commodity-dependent currencies hold gains, eyes on Greece

Commodity price-dependent currencies such as the Australian dollar and Norwegian crown were the main movers on major foreign exchange markets on Tuesday, gaining up to a third of a percent on talk of more economic stimulus in China.

Canon to buy Sweden's Axis for $2.8 billion, expands in surveillance

Japan's Canon Inc said it plans to buy security camera maker Axis AB for about 23.6 billion Swedish crowns ($2.83 billion) to expand into the surveillance products market amid weak sales of its cameras.


Latest News

Asian equities slipped on Tuesday as nervousness over Greece potentially withdrawing from the euro and escalating conflict in Ukraine sapped risk appetite, while the dollar lost steam after its payrolls-inspired rally.
XPO Logistics Inc (XPO.N) has bought home delivery company UX Specialized Logistics for $59 million in cash to tap into the booming e-commerce market in North America.
As Samsung Electronics Co Ltd sells fewer of its own smartphones, the South Korean group's components businesses are under pressure to pick up the slack and secure external customers for chips and display panels, including putting these in rival mobile devices.
Group of 20 finance officials look likely to reject a proposal to set countries specific investment targets to spur a global economy which appears increasingly reliant on the United States for growth.
Hopes of an orderly resolution to Puerto Rico's debt crisis suffered a heavy blow after a court voided the island's restructuring law, raising fears it may be heading for a longer, messier debt overhaul.
General Motors Co (GM.N) received another 57 claims for compensation for ignition switch defects in its cars in the past week, bringing the total to 4,237, according to the administrator of the company's compensation program.
Oil jumped for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought and projected less supply from countries outside the producer group.
U.S. stocks fell on Monday as investors worried about Greek debt negotiations and disappointing Chinese economic data on top of uncertainty about U.S. interest rates.
Audi (VOWG_p.DE) outsold German rival Mercedes-Benz in January, boosting deliveries by 10 percent to a record 137,700 cars on strong demand from China, the United States and Germany.
Five Czech banks have expressed interest in bidding for Citigroup's retail operations in the Czech Republic, newspaper E15 reported on Monday, without citing its sources.
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