petrobras did not say who the interim ceo would be.d be a press conference momentarily to explain. the first reaction we got from analyst and politicians was that this was not good news for petrobras. struggling under the pricing policy that he had implemented. vonnie: what does this mean going forward for shareholders, debtholders, for the citizens? will there be a different tactic from the interim ceo now? >> that's a good question and it depends on whether he resigned whether he was being pressured to change pricing policy and what this new ceo will be pressured or not into doing. what had been boosting petrobras is they were no longer controlling prices, no longer selling fuel for a long time, losing money compared to international oil and currency prices. we need to see how this policy is moving forward. it is too early to tell at this point. vonnie: thank you, julia. fascinating story that we will keep on top of. the new government in rome promises many sleepless nights for bureaucrats. mike mckee is at the g7 conference in whist

walk us through the tumult and why petrobras raised prices in the first place greeted julia: i think well and petrobras had been practicing low international prices for a long time. when the new president came in, he put in new management and said he would raise prices following for a long time. company great for the and investors loved it, but it had an impact on the economy which ended up causing the ten-day trucker strike. alix: what was interesting is resignedf petrobras and his promise was to come in and make it a profitable country -- company an appeal to investors. what is it safe for the future of is this if they had to reverse the fuel policy and the ceo had to get the boot? julia: they haven't actually changed the fuel price yet, they are discussing what to do. cfonew ceo used to be the and said he is assured he could do fuel prices as he sees fit. willwas his condition, i stay as long as there is no government meddling in this state run company. david: thank you so much, that is julia leite. always good to have you. from the trucker strike to corruption scandals and change

petrobras officials received a cut of those inflated contracts, much of that money was then divertedparties. it was all a game, and the players robbed the public of billions, literally. >> we have these high-quality very powerful politicians, businessmen, who unfortunately committed bribery crimes and money laundering and there is no excuse for that. and they have to pay the price for their wrongdoing. >> for corrupt officials and businessmen, it was cooperate or perish. scores chose to cooperate. revelations in the press read like something out of a detective novel. payments were made in fine wines and sports cars, yachts and helicopters. police snatched so much art, they had to put it in a museum. then at the end of 2015, a sitting senator was arrested for obstruction of justice. he pointed his finger at a political untouchable, louis de silva, the man president obama once called the most popular politician in the world. he stood accused of masterminding the scheme. boro set his sights on lula, and they battled it out in the courtroom and the press. in 2017, the unthinkable happene

. >> ceo of petrobras stepped down from his role afteritacing ism over how he set gas and diesel prices based on the cost of oil. brazil recently lowered the cost of diesel fuel in that country after truckers went on strike to protest the high cost. shares of petrobras plunged to $10.13. >> shares of workday remained under pressure today after the enterprise software company reported slower quarterly revenue. that was after the belt night. the company did raise its guidance, though, for the fulla but investors weren't esving it. shar s thfinished down more tha 1.5% to $126.29. meanwhile, shares of marvel technology rose today after the chipmaker developed an earnings and sales beat last night. the company also sees earnings for the current quarter toppinging expectations and shares were higher by nearly 3% to $22.17. trade l, even as those tensions remain a hot-button topic, tonight's market monitor says he likes etfs with exposure to the global markets. this is his first time on as a market monitor. he's peter malook, welcome backo >> thanks, to see you again. >> so you are embracing t

meet his demands they had to make concessions to those truck drivers but also within the within petrobrasitself there in the middle of a seventy two hour strike where many of the workers were calling for his resignation they felt that he was not running the company in the best interest of petrobras it's an enormous companies who have they felt they were not running it in the best interest of brazil brazil is fairly self-sufficient in fuel prices most brazilians feel were too high and many of them were supporting the truck drivers they were saying the high prices were affecting everybody so they were calling for his resignation they wanted him gone they also feared that he planned the plan to sell part of the government's stake impact that a vast majority owned by the brazilian government it lost something like fifteen percent shares after the price rise so that without the support of the workers and with the government he felt undermining him he probably felt he had no choice but to step down down years that the truck driver strike a huge impact on the country and now we've got this resig

the ceo stepped down it's causing a crisis of confidence in petrobras. the stock is down 40% off its highs, still not at a new low, but, obviously, the market saying real structural problems with the way the company is operating, and not to mention, underlying problems in the brazilian economy. this one hard hit today on a day when the overall energy market is not doing so bad. >> i mean, mike, as goes petrobras so goes brazil >> exactly >> see you in a couple minutes, thank you. >>> up next, the closing countdown. >> after the bell, what has the chairman advisers -- what has him saying this about the president? >> lock him up lock him up. >> that was this morning we'll tell you why he's chanting "lock him up" next up. stay with us from capital one. with it, i earn unlimited 2% cash back on everything i buy. everything. and that 2% cash back adds up to thousands of dollars each year... so i can keep growing my business in big leaps! what's in your wallet? prepare for your demise, do your worst, doctor. i will. but first, a little presentation. hijacking

and shares of the brazilian state's oil company, petrobras, have fallen by nearly 15% following the resignationits ent, parente. he stepped down following national strikes of truck drivers. it called for an end of the company's policy of setting prices at market rates. gentleman cept illinois kiante has sworn as -- in as italy's ew leader. he'll lead two parties and they e. mise radical cha the swearing in followings months of political unhrtainty, whas worried brussels and spooked financial markets. jenny hill from rome. >> t h moment euro been waiting for, a new italian prime minister, with no politicri expeence. and sworn in, new government, an anti-establishment coalition. '9" almostt didn'ppen. first choice for foreign minister was rented b the i tallian prosecute . a compromise in the shape of tria. he'll overse italy's finances. the new government has promised to demote hatch a pll migrant spend more on welfare. >> you have two wildly different parties in this coalition. there's the far right league, which has a very touch stance on immigration, with the fivetar movement, which has more

bloomberg both reporting that brazil's petrobras says its ceo has resigned no reason yet given. to petrobras to confirm some of these details and get some color on the reason why he has resigned. this is coming in the wake of a lot of worker strikes or proposed worker strikes for brazil's state-run oil concern also right now to show you, sao paulo shares are suspended probably the only way some can take a view and manage their risk is in these new york-traded shares certainly we're watching this and we'll keep you updated as we know more on our end >> the brazilian real is also getting slammed with the dollar spiking on that. the strikes have also been a problem. thank you, dom >>> president trump issuing a new set of steel and aluminum tariffs targeted at the eu after steve mnuchin signaled a hold on the trade war. joining us for his take, richard haass, author of "a world in disarray." larry kudlow, richard, says that they are our friends, our allies, referring to the europeans, but they have to make some concessions when it comes to trade can that happen? >> if there is legit

shares of the brazilian state—controlled oil company, petrobras, have fallen by nearly 15% followingkes by truck drivers. oil workers had demanded mr parente's resignation and called for an end to the company's policy of setting prices at market rates. the german state of bavaria has introduced a controversial new law, which requires all public buildings to display a christian cross in theirfoyer. the man at the centre of the law — regional premier markus soeder — says the crucifix is at the heart of bavaria. but critics have slammed him for politicising a religious symbol to woo far—right, anti—islamists. tiffany wertheimer‘s report contains flash photography. this will be a common sight in bavaria from now on. as of friday morning, nearly all government buildings in the south—eastern german state must display a crucifix. as the law came into effect, its mastermind, premier markus soeder, was not even in bavaria. he was at the vatican enjoying a private audience with the pope. soeder says the cross is at the heart of bavaria's identity, but the new law has left germans divided. tran

the chief executive of brazil's state—owned oil producer petrobras has resigned.overnment to bring down diesel prices. oil workers had demanded mr parente's resignation and called for an end to the company's policy of setting prices at free—market rates, which has led to high oil prices. the european union has told the us that it's playing a "dangerous game" by imposing tariffs on european steel and aluminium. it's called the measures pure protectionism, warning it will affectjobs both in the eu and the united states. as expected, the eu has hit back with its own tariffs in retaliation — a ten—page list of us products including denim, bourbon whisky, corn, rice and harley—davidson motorcycles. our north america correspondent nick bryant reports. bethlehem, pennsylvania, used to be a powerhouse of the us steel industry. then it became a rust belt power base of donald trump. after the closure of its main steel plant 20 years ago many people felt like economic castaways. stranded in a globalised economy that left them behind. with the presidential election, bethlehem

shares of the brazilian state—controlled oil company, petrobras, have fallen by nearly 15% following stood down following nationwide strikes by truck drivers. oil workers had demanded mr parente‘s resignation and called for an end to the company's policy of setting prices at market rates. giuseppe conte has been sworn in as italy's new prime minister. he'll lead a cabinet assembled by the country's two main populist parties. they are the anti—establishment five star movement and the right—wing league, and they've promised radical change. the swearing in follows months of political uncertainty, which has worried brussels and spooked financial markets. jenny hill sent this from rome. it's the moment europe's been waiting for — a new italian prime minister. giuseppe conte, a law professor with no political experience. and, sworn in one by one, a new government, an anti—establishment coalition. it almost didn't happen at all. paolo savona, first choice for foreign minister and fierce critic of the euro, was rejected by the italian president. after desperate talks, a compromise was made,

most of the biggest oil company in brazil has resigned wiping fifteen percent of the value of petrobras he's the highest profile casualties so far but drive a strike that virtually paralyzed brazil for nearly two weeks as daniel schorr reports . the resignation of chief executive. was just one of the demands of striking all workers. he said they didn't like the way he was running petal brass and they feared he was planning to privatized the brazilian state's majority holding the biggest oil company in latin america was for three years a commission. workers largely believe the grass is not being properly managed there is not one worker who says the sale by the press or bronze boss. is fair we have been planning the strike for a long time but n.j. with a reputation for turning around struggling companies took office in two thousand and sixteen with the condition that the government not interfere in setting the price of oil but the government earlier this week did exactly that after a nine day strike by the country's truck drivers brought brazil to a near standstill. nobody can take it any

of brazil's state controlled oil approaches a petrobras has resigned after the government intervened in diesel prices president michel tamar announced plans to bring fuel prices down after a truck drivers strike crippled the country a nine day protest call shortages of fuel at gas stations and airports left some supermarket shelves empty hadra parent a accepted the top job in twenty sixteen on the condition he had freedom to control fuel prices. an interim government has been sworn in in pakistan ahead of an election in july former supreme court justice will hold the role of caretaker prime minister until the vote pakistan's three main political parties are campaigning on platforms promising a stronger economy and more jobs but tribal and religious loyalties will also have a major influence over the way people vote c'mon haida has more from islamabad. the president. had there administered the old to the shaven prime minister of. natural. formerly the country's chief justice also choice coming up after extensive consultation between the government and the opposition. is considered to

a move that knocked $12 billion off the value of stock in petrobras.ed strikes by truckers and oil workers that paralyzed much of the company forcing the government there to lower diesel prices for 60 days. >>> an outbreak of e. coli to tell you about. the bacteria listeninked to rom lettuce has killed five people in the united states. 197 people across 35 states have been ill since march. e. coli can cause fever, abdominal cramps, nausea and vomiting. >>> threats of a u.s. trade war. tariffs on chinese imports are stoking renewed fears of that global trade war that everyone has been talking about. that word has been thrown around. the u.s. commerce secretary wilbur ross arrived in beijing early saturday to continue trade talks. china was caught off guard this week when the white house said it would pursue tariffs on $50 billion worth of chinese imports. >> it's not just china, mexico, canada and the european union are fighting back against new u.s. tariffs announced on steel and aluminum. the eu on friday filed a formal complaint with the wto, the wor

. >> petrobras plunging, the oil company announcing its ceo is leaving. >> it has been a train wreck a decade important point about the aboutance sheets and being able to trust companies that come from this part of the world where the government is involved and there are all sorts of issues which is why a quality screened approach getting started to be diversified is better than trying the figure out each individual companies. >> workday beats on the top and bottom line. growth though slowest ever. >> fbn and credit suisse both keeping or raising the target. in the case of credit suisse i don't like the position. i like the rebound from the low in the day to here but i'm not involved. >> when we combae ck we'll do final trades to wrap up the week travel... even when i travel... for leisure. so i go national, where i can choose any available upgrade in the aisle - without starting any conversations- -or paying any upcharges. what can i say? control suits me. go national. go like a pro. when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actiona

of brazil's state owned oil producer petrobras has resigned after the government intervened in diesel prices president michel tamer announced plans to bring fuel prices down after a truck drivers strike crippled the country one day protests caused shit shortages of fuel and left some supermarket shelves empty but ended a accepted at the top job in twenty sixteen on the condition he had freedom to control fuel prices. venezuela has released a group of opposition activists who were jailed for protesting against president nicolas maduro the government says freeing the thirty nine activists will foster dialogue but critics are calling it a token gesture rights groups say hundreds of political protesters remain in jail venezuela is facing an economic and political crisis the opposition boycotted maids elections and there's widespread shortages of many basic goods. it's one month since in mexico or until mexico holds its largest ever elections more than three thousand political posts are up for grabs including the presidency but one of the crucial factors will be the youth vote with almost