cloudy
Monday July 16th, 2018 2:38PM

Petrobras agrees to pay $2.95B to settle case in the US

By The Associated Press
Related Articles
  Contact Editor

RIO DE JANEIRO (AP) — Brazil's state-run oil giant Petrobras has agreed to pay $2.95 billion to settle lawsuits in the United States over the sprawling corruption scandal that has ensnared dozens of officials and business executives across Latin America.

The company said in a statement on Wednesday that the deal ends a legal battle with investors who allegedly suffered losses after a corruption probe exposed mushrooming corruption in the company.

Petrobras also says it was a victim of the corruption scheme and that the "the agreement does not constitute any admission of wrongdoing or misconduct" by the company.

The decision still needs to be approved by an U.S. judge.

The Brazilian company says it proposes to pay for the settlement in three installments.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Business - Industries, AP Business - Utilities
© Copyright 2018 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Trump warns Palestinian Authority it may lose US aid money
President Donald Trump is threatening to cut off U.S. aid money to the Palestinian Authority and acknowledging that the Middle East peace process appears to be stalled.
9:00AM ( 20 minutes ago )
Kentucky lawmakers to attend anti-harassment training
Kentucky lawmakers must attend anti-harassment training one day after the House speaker temporarily stepped aside while investigators probe a secret sexual harassment settlement signed by four Republicans
8:59AM ( 20 minutes ago )
Trump boasts of 'nuclear button' but doesn't really have one
President Donald Trump is boasting that he has a bigger and more powerful "nuclear button" than North Korean leader Kim Jong Un _ but the president doesn't actually have a physical button
8:58AM ( 22 minutes ago )
Associated Press (AP)
Pro-government rallies in Iran after days of protest, unrest
Iranian state media airing footage of pro-government demonstrations after week of protests, unrest over poor economy
8:21AM ( 58 minutes ago )
New Year rally pushes global shares higher
Global shares gain as Europe tracks China-led advance in Asia
8:20AM ( 1 hour ago )
Winter storm threatens to dump ice, snow across South
Brutal winter weather that's brought subzero temperatures to parts of the U.S. is now threatening to dump snow and ice across areas of the South from Florida to the Carolinas that rarely see frozen flurries, much less accumulation
8:13AM ( 1 hour ago )
AP Business
US bars $1.2B Chinese acquisition of MoneyGram
Chinese billionaire Jack Ma has dropped his bid to buy U.S. money transfer company MoneyGram after Washington rejected the $1.2 billion deal in a fresh example of heightened American scrutiny of Chinese investment
12:35AM ( 8 hours ago )
'Wild Thoughts' for Weight Watchers
Weight Watchers has hired hit-maker DJ Khaled to promote its weight loss plan on social media
4:29PM ( 16 hours ago )
GOP Rep. Shuster, transportation panel chairman, to retire
Pennsylvania Rep. Bill Shuster, the powerful GOP chairman of the House Transportation and Infrastructure Committee, says he won't run for re-election
4:02PM ( 17 hours ago )
AP Business - Corporate News
Strong factory data, Wall St gains boost Asian share prices
Strong manufacturing data and overnight gains on Wall Street are giving Asian markets a boost
12:20AM ( 9 hours ago )
US stocks ring in 2018 with gains as technology leads again
After strong gains in 2017, stocks get off to a positive start and set more records as technology and health care companies rise in the first day of trading in the new year
5:42PM ( 15 hours ago )
McDonald's tests fresh beef in another burger
McDonald's is testing fresh beef in another burger, the latest move by the chain to improve its image as more people shun processed foods
2:52PM ( 18 hours ago )
AP Business - Industries
AP Business - Utilities
Trump warns Palestinian Authority it may lose US aid money
President Donald Trump is threatening to cut off U.S. aid money to the Palestinian Authority and acknowledging that the Middle East peace process appears to be stalled.
9:00AM ( 20 minutes ago )
Kentucky lawmakers to attend anti-harassment training
Kentucky lawmakers must attend anti-harassment training one day after the House speaker temporarily stepped aside while investigators probe a secret sexual harassment settlement signed by four Republicans
8:59AM ( 20 minutes ago )
Trump boasts of 'nuclear button' but doesn't really have one
President Donald Trump is boasting that he has a bigger and more powerful "nuclear button" than North Korean leader Kim Jong Un _ but the president doesn't actually have a physical button
8:58AM ( 22 minutes ago )
Study: Young male migrants fuel rise in violence in Germany
A study funded by the German government finds that the influx of mostly young, male migrants led to an increase in violent crime
8:57AM ( 22 minutes ago )
Trump roots on Iran's protesters, declares 'time for change'
The Trump administration is throwing the full weight of the United States government behind the protesters taking to the streets of Iran
8:57AM ( 23 minutes ago )