- Bloomberg
Former Brazil Finance Head Says Lula’s Government Contacted Him for Braskem Job
(Bloomberg) -- Former Brazil Finance Minister Guido Mantega said President Luiz Inacio Lula da Silva’s government sought him for a spot on the board of Braskem SA, and he will accept the job if shareholders approve.Most Read from BloombergKey Engines of US Consumer Spending Are Losing Steam All at OnceMnuchin Chases Wall Street Glory With His War Chest of Foreign MoneyHomebuyers Are Starting to Revolt Over Steep Prices Across USAMLO Protege Sheinbaum Becomes First Female President in MexicoKrugm
- Bloomberg
Petrobras Doesn’t Rule Out Buying Braskem Stake to Save Company
(Bloomberg) -- Petrobras isn’t ruling out buying a majority stake in Braskem if the petrochemicals producer is at risk of deterioration.Most Read from BloombergFlood of China Used Cooking Oil Spurs Call to Hike US LeviesHow One of the World's Oldest Hedge Funds Went BankruptBiden Accuses China of ‘Cheating’ on Trade, Imposes New TariffsChina Considers Government Buying of Unsold Homes to Save Property MarketTrump Vows ‘Day One’ Executive Order Targeting Offshore WindBrazil’s state-controlled oil
- Reuters
UPDATE 2-S&P cuts Brazil's petrochemical firm Braskem to junk
S&P on Monday downgraded Brazilian petrochemical producer Braskem's global rating to "BB+" from "BBB-", removing the last investment-grade rating the firm held with the big-three ratings agencies. "After difficult petrochemical industry conditions in 2023, we believe that the rebound in petrochemical spreads will take longer than previously expected", S&P said in a report. The rating agency added that as a result of this outlook, it expects weaker profitability, and consequently, higher leverage for Braskem until 2025.
