Brazil Regulators OK Sinochem Purchase of 10% Stake in Offshore Blocks

Brazil's National Petroleum Agency, or ANP, approved Chinese oil company Sinochem's purchase of a 10% stake in five offshore blocks as the state-run company continues its expansion into Latin America's hottest oil frontier.

Itau to spend $6.81 billion to take Redecard private

(Reuters) - Itau Unibanco (ITUB4.SA) (ITUB.N), Brazil's largest private-sector lender, plans to spend as much as 11.77 billion reais ($6.81 billion) to buy out Redecard (RDCD3.SA), protecting the card payment processor's position in an increasingly competitive industry.