Brazil's Batista steps down as chairman of MPX

SAO PAULO (AP) -- Eike Batista, not long ago Brazil's richest man, has resigned as chairman of energy company MPX Energia after it was forced to call off a planned IPO, the company said Thursday.

Petrobras Sells $1.8 Billion in Assets to Esteves’ BTG, Cemig

Petroleo Brasileiro SA, the world’s most indebted oil company, sold $1.83 billion in assets to billionaire Andre Esteves’ Banco BTG Pactual SA (BPAC3) and to Cia. Energetica de Minas Gerais as it seeks to raise cash.

Argentine leader grants vast powers to adviser

BUENOS AIRES, Argentina (AP) — Argentina's president granted vast new power over the nation's economy Friday to a young firebrand who was the brains behind the takeover of YPF from Spain's Repsol oil company.

Argentina to expropriate Repsol oil subsidiary YPF

The Argentine government will seize a controlling interest in oil company YPF owned by Spanish firm Repsol.