On Thursday, Shares of Petroleo Brasileiro SA - Petrobras (ADR) (NYSE:PBR), lost -3.91% to $4.18.
The group behind Brazil’s biggest-ever corruption probe has tracked the $1.5 billion bribery scheme that started with Petroleo Brasileiro SA across four continents. Now, the team of prosecutors, police and one dogged judge may be facing their biggest challenge yet: hanging on to the investigation, according to Bloomberg.
Defense attorneys are trying to chip away at the judge’s jurisdiction, arguing that the sprawling case that has crippled Brazil’s economy and paralyzed its government should be spread across courts. While some members of the group themselves acknowledge that it’s become too big for one unit after more than 300 raids, 100 arrests and 30 convictions, they are in no mood to give up a single piece of it.
“If this case gets broken up,” warns federal prosecutor Carlos Lima, whatever gets sent to other states “will be buried in a mass grave.”
If Lima sounds like a doomsayer, he’s got good reason. There’s a long history of corruption in Latin America’s biggest economy, but it wasn’t until the group of 11 prosecutors — they call themselves the Workforce — together with Judge Sergio Moro and federal police, began uncovering and punishing wrongdoers that it became apparent just how widespread graft is. Scatter the investigation across cities and states, Lima said, and it will be all too easy to sweep under the rug. Bloomberg Reports
Petroleo Brasileiro SA - Petrobras is a Brazil-based integrated energy company. The Company operates in the Exploration and Production (E&P); Refining, Transportation and Marketing (RTM); Gas and Power; Biofuels; Distribution, and International segments.
Shares of Regions Financial Corp (NYSE:RF), inclined 0.22% to $9.03, during its last trading session.
Regions Bank, on Tuesday declared the launch of a new web channel dedicated exclusively to sharing information on the company’s culture.
Optimized for both desktop and mobile viewing, Regions.com/culture serves as a central location for articles, videos and personal stories describing how Regions conducts business and the company’s approach to community involvement and support.
Further, the site shares how Regions is committed to achieving results for its shareholders while recognizing that how those results are achieved is just as important as the results themselves.
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. The Company carries out its business in three segments: Corporate Bank, Consumer Bank and Wealth Administration. The Corporate Bank segment represents the Company’s commercial banking functions, counting commercial and industrial, commercial real estate and investor real estate lending.
Shares of NRG Energy Inc (NYSE:NRG), declined -0.74% to $14.74, during its last trading session.
NRG Energy declared the next phase of the 2015 Capital Allocation Plan with authorization to repurchase $251 million of its common stock, comprised of $51 million remaining from the formerly declared share repurchase program and an additional $200 million. The authorization will be implemented through a 10b5-1 trading plan right away.
The purchase of common stock will be made using cash on hand and may be made from time to time as market conditions warrant and subject to regulatory considerations. This action does not foreclose the possibility of further or different capital allocation actions in the future.
NRG Energy, Inc. (NRG) is a power company that produces, sells and delivers energy, and energy products and services in power markets in the United States. NRG’s business segments are NRG Business, NRG Home, NRG Renew, NRG Yield and corporate activities.
Finally, Groupon Inc (NASDAQ:GRPN), ended its last trade with -0.31% loss, and closed at $3.25.
OrderUp (www.orderup.com)––an on-demand food delivery and takeout marketplace recently attained by Groupon––declared several new iPhone app updates that expand the number of ways people can pay for and track their orders. Through a completely revamped user interface, the update will give OrderUp customers the ability to pay with Apple Pay and enable friends and family to track the status of a group order.
In addition to expanding the number of ways people can pay for and track their orders, OrderUp recently launched in four new markets — Cincinnati, Orlando, College Station, Texas and Champaign, Ill. The company will continue to expand Groupon’s delivery and takeout presence in midsize markets.
“OrderUp” and “Groupon” are registered trademarks of Groupon, Inc. or its associates. All other names used may be trademarks owned by their respective holders.
Headquartered in Baltimore, OrderUp is the most complete on-demand food delivery marketplace for local markets outside of the top metros. With feet on the street in markets nationwide, OrderUp provides easy access to great food from locals’ favorite restaurants.
Groupon, Inc. operates online local commerce marketplaces world over that connect merchants to consumers by offering goods and services at a discount. The Company operates through three segments: North America, which represents the United States and Canada; EMEA, which comprises of Europe, the Middle East and Africa, and international operations (Rest of World).
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.