Petrobras to pay nearly $3bn to settle US lawsuit

Brazil's state-run oil company has said it will pay $2.95bn to settle a class action brought by investors in the United States.

Petroleo Brasilerio SA, commonly known as Petrobras, said in a statement on Wednesday that the settlement would bring to an end a legal battle with investors claiming to have suffered losses as a result of a region-wide corruption scandal involving the oil giant.  Read more.