Brazil Senate may vote on Petrobras subsalt obligations Wednesday BRASILIA, July 7- Brazil's Senate may vote on Wednesday on a bill ending state-run oil company Petrobras' leadership and mandatory minimum stake in a giant offshore oil district known as the subsalt, a key leader in the Brazilian upper house of Congress said on Tuesday. The Senate will likely put the bill up for a vote in the morning, said Delcídio Amaral, the leader...
Futures Now, July 7, 2015 The commodities selloff. Greece drives bonds. And a technical take on the markets, with CNBC's Jackie DeAngelis and the Futures Now Traders.
Court upholds ban on contractor political contributions Writing for a unanimous 11- judge panel, Judge Merrick Garland said recent corruption scandals involving members of Congress point to the continuing danger of "quid pro quo" corruption- a direct exchange of money for political favors. Congress outlawed political contributions by federal contractors largely in response to a New Deal-era scandal involving...
Source: The Associated Press
| By: By SAM HANANEL, Associated Press
UPDATE 1-Malaysian authorities freeze bank accounts linked to PM graft scandal KUALA LUMPUR, July 7- A task force investigating Malaysia's troubled state investment fund 1 MDB said on Tuesday it had frozen half a dozen bank accounts following a report that hundreds of millions of dollars had been transferred to an account of Prime Minister Najib Razak. The Wall Street Journal reported last week that investigators probing the debt-laden...
| By: Al-Zaquan Amer Hamzah and Trinna Leong
COLUMN-As China suspends reality, sit tight: James Saft July 7- Only an excessively brave investor would bet that China's increasingly desperate moves to prop up its stock market won't work; only a fool would bet that they will. The proper place for anyone with any choice in the matter is on the sidelines, watching with concern as China, faced with a rapid implosion in its stock market, attempts to overawe would-be...
| By: James Saft
Greece's contagion factor Discussing whether a "Grexit" would be a key factor for the Fed and monetary policy, with Michelle Meyer, BofA Merrill Lynch, and Jurrien Timmer, Fidelity Investments.
Oil crushed as correction gains momentum Oil is expected to continue its spiral lower as concerns about global growth collide with record production and the potential for more supply from Iran.
| By: Patti Domm