Bloomberg Brazil’s state-controlled oil company Petrobras is advancing asset sales to reduce the biggest debt load in the oil industry after three quarters of straight losses. Brazil’s deepest recession in a century is curbing lucrative fuel imports and eroding profit at Rio de Janeiro-based Petroleo Brasileiro SA. The company’s net loss was 1.25 billion reais ($360 million), or 10 …

  Bloomberg Safra Catz emerged as the highest-paid U.S. female executive in fiscal 2015 when she became co-chief executive officer of Oracle Corp. Catz was awarded a $56.9 million pay package last year, placing her first among women on the Bloomberg Pay Index, a ranking of the 200 best-paid executives at companies that trade on U.S. exchanges. Her pay included …

  Foreign governments can’t be sued in U.S. courts. Foreign companies can. What happens when China’s state-owned companies claim to be part of the government? Nobody knows because the law is confusing, but some U.S. courts are taking the Chinese claim seriously. The Foreign Sovereign Immunities Act isn’t well drawn to address the complex situation of Chinese companies and their …