Share prices for Brazilian state-owned oil giant Petrobras soared after it announced it had signed an agreement to obtain $3.5 billion in funding from the China Development Bank (CDB). A huge kickbacks scandal which broke last year and implicated dozens of Brazilian politicians and executives has wiped tens of billions off Petrobras' share price, with Brazil's biggest state-owned corporation losing around two thirds of its value. The scandal has seen Petrobras' unsecured debt rating drop into junk territory amid downward spiraling profits and a delayed external audit of last year's results. As a result the company, once considered Brazil's most prestigious, is looking further afield to aid its cash flow as debts pile up.
INDIANAPOLIS (AP) — As pressure builds for the repeal or revision of Indiana's new religious objection law, the NCAA faces a decision about whether to look for a new venue for next year's women's Final Four.