Fundamental failures in awarding a £6.2 billion deal to decommission the UK’s ageing fleet of Magnox nuclear power stations cost the taxpayer £122 million, an official report has found.
Brazil's state-controlled oil company Petrobras has posted its biggest-ever quarterly loss after booking a large writedown for oil fields and other assets as oil prices slumped and refinery projects faltered.
Petrobras’s stock is worthless and a growing group of investors believe Brazil’s state-controlled oil company will convert debt into equity in a move that will benefit bondholders over shareholders, BTG Pactual said in a research report.
