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Brazil's central bank faces growing concern on rate hikes

BRASILIA/ RIO DE JANEIRO, May 28- Brazil's central bank risks causing unnecessary damage to a struggling economy if it raises interest rates even more in coming weeks, a growing number of economists and business leaders warn. Brazil's rate hike cycle, the most rigorous among major economies in 2015, is an effort to tamp down inflation, currently running at above 8...
Source: Reuters | By: Silvio Cascione and Walter Brandimarte
Big business of golf: Tim Finchem  

Tim Finchem, PGA Tour commissioner, talks about attracting younger golfers to the game and expanding global awareness.
Source: CNBC.com
China stocks plunge 6.5%, worst selloff in 4 months

Mainland markets were the biggest losers in the region on Thursday, as fears over tighter requirements on margin financing ignited risk-off sentiment.
Source: CNBC.com | By: See Kit Tang
Petrobras pays 2014 bonus despite record loss, canceled dividend

RIO DE JANEIRO, May 27- Brazil's state-run oil company, Petroleo Brasileiro SA, will pay employees 1.04 billion reais in bonuses for 2014 despite recording its largest-ever loss and rejecting investor dividends, a company union said on Wednesday. While Brazil's government owns a majority of voting common shares, non-government investors, primarily holders...
Source: Reuters | By: Jeb Blount
Brazil sees expanded private role in nuclear power - minister

SAO PAULO, May 27- Brazil is considering an expanded role for private companies in nuclear power generation, as it looks to meet rising electricity demand and provide backup for a hydro system pushed to its limits, Energy Minister Eduardo Braga said on Wednesday. Braga, who calls nuclear power "a necessity but not a priority," wants up to four new reactors to provide...
Source: Reuters
Shanghai Comp, Nikkei outperform lackluster Asia

Shanghai and Japan markets eked out marginal gains to touch fresh multi-year highs on Wednesday, while other bourses in the region stumbled following an unimpressive lead from Wall Street.
Source: CNBC.com | By: See Kit Tang
UPDATE 1-Former Petrobras executive sentenced to five years in jail

SAO PAULO, May 26- A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe. Federal Judge Sergio Moro said there was ample evidence that the former director, Nestor Cervero, set up a...
Source: Reuters
Former Petrobras executive sentenced to five years jail

SAO PAULO, May 26- A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe. Federal Judge Sergio Moro said there was ample evidence to support charges by prosecutors that the former...
Source: Reuters
UPDATE 1-El Nino seen bringing drought to Brazil's north, heavy rains to south

SAO PAULO, May 26- Brazil will likely experience a moderate El Nino by the end of the year, bringing steady rain to the country's main grain producing regions and sustained drought in the arid north, the national meteorological institute, Inmet, said. El Nino can lead to scorching weather across Asia and east Africa, but heavy rains and floods in parts of South...
Source: Reuters | By: Caroline Stauffer
SFX CEO Sillerman taking dance music promoter private

NEW YORK- Electronic dance music promoter SFX Entertainment said Tuesday that it plans to go private, as Chairman and CEO Robert Sillerman will buy the company in a deal valuing SFX at around $490 million. Sillerman offered to buy the New York company for $4.75 per share, valuing SFX at about $390 million, in February. Shares of SFX Entertainment Inc. rose 88 cents,...
Source: The Associated Press