Brazilian ex-billionaire Batista sentenced to 30 years in jail for bribery
Eike Batista, who was once one of the richest men in the world, was found guilty of bribing former Rio de Janeiro governor Sergio Cabral in exchange for contracts.
Brian Bagnell of Macquarie Capital Markets has two caveats for investors in junior oil and gas companies: Expect extreme volatility, and don't expect oil prices above $70/barrel anytime soon.
Chinese Novel Sunrise Investments has agreed to buy 48.7 million shares in SouthGobi —which was once worth over US$2.4 billion —for 35 cents per share in cash.