Petrobras expects tighter rules

Petrobras, the world leader in deepwater oil exploration, said yesterday that Brazilian regulators could tighten offshore drilling standards in its home country following BP’s oil spill in the Gulf of Mexico. BP's Gulf of Mexico spill, which specialists call the worst such oil industry disaster in US history, would probably force regulators in Brazil to reassess safety standards, Petrobras chief executive Jose Sergio Gabrielli told analysts in a conference call yesterday.

Euro consumer confidence up

Consumer confidence in the Eurozone improved slightly in June as worries subsided over the currency area’s debt crisis, figures showed yesterday, but the longer view remains gloomy, pointing to weak economic growth. The indicator rose to -17.3 in the 16-country area.