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OGX, the crude oil arm of the group EBX owned by billionaire Eike Batista, is experiencing a decline in oil production at the Campos Bay. Now, the forecast is that OGX will produce 5,000 barrels a day - a third of the first prediction. As a result, the company's papers had a fall of 41 percent, an equivalent to nearly US$ 5 billion. The losses, according to ranking, made the billionaire lose his post at the eighth richest man in the world to below twenties.

Timizzer.com HSBC to negotiate four operations in Latin America Pemex gets US$ 9 billion trading with the US Telefônica Brasil profits fall by 15.2% América Movil looks to expand business in the US Batista's LLX has US$ 4.5 billion in losses Scandal drops in 19% Walmart's value in Mexico Argentinian industry slows down Continue: Timizzer.com

Corporate Bond ETFs Roaring Ahead Spain to lift power prices 5% to 7% in April: aide RIM under the gun as pressures mount Soy hits 6-month high on Brazil; corn retreats More…