Chris Swann is a Reuters Breakingviews columnist, based in New York. He writes about hedge funds, commodities and asset management. He joined from Bloomberg News, where he covered global poverty issues and the International Monetary Fund. From 1997 to 2006 Chris was a reporter at the Financial Times in a variety of roles including currency correspondent, economics reporter and columnist on Lex. He has a first-class degree in History from Oxford University, and has also studied piano performance at the University of Michigan and International Relations at Cambridge.
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The state-run energy giant paid too much in buying a U.S. refinery for $1.2 bln in 2006, when President Rousseff chaired the board. But at $20 bln, a plant in Brazil is costing far more than similar facilities abroad. It’s a cash drain Petrobras and its investors can ill afford.
The U.S. oil giant says Rex Tillerson takes home less than peers – and far less than shown in SEC filings. Yet including stock he knows he’ll get later, he’s in the top spot. While delaying pay by up to 10 years is shareholder-friendly, claiming the CEO doesn’t receive it is not.
Finance ministers meeting in DC blasted Congress’ refusal to back more lending power for the fund and a bigger voice for the likes of China and Brazil. Harsh words alone won’t do much. But votes against Ukraine loans and other plans would inflict a high price on foot-dragging.
- World Bank's foreign aid target is barbarous relic
- Africa's growth spurt challenged by twin deficits
- Bad headlines are good news for Petrobras
- U.S. oil majors demand export satisfaction
- Oi's botched offering besmirches Brazilian markets
- Ukraine needs gas efficiency more than imports
- U.S. LNG exports set for boost from Ukraine