UPSC Announces Engineering Services Exam Results, 458 Candidates Recommended for Appointment

Five Brazilian banks (Itaú, Bradesco, Santander, Banco do Brasil, and BNDES) agreed to write off R$20 billion in loans to Novonor (formerly Odebrecht) as part of the largest Brazilian judicial recovery plan. In exchange, they will receive derivatives with uncertain recovery prospects. The banks will sell these credits to an IG4 Capital fund, which will use Braskem's shares as collateral. If Braskem's shares increase in value, the banks may recover some of their losses.