INSIGHT-Brazil's cracked city leaves corporate heavyweights on the hook [Reuters (UK)]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Reuters
Brazil's cracked city leaves corporate heavyweights on the hook - Reuters 8 Min Read MACEIO, Brazil (Reuters) - A sudden, violent tremor knocked José Rinaldo Januario to the floor of his kitchen one Saturday afternoon two years ago - a mystery given the Brazilian city of Maceio had little history of seismic activity. After seven seconds or so, when the shaking stopped, the bar owner and his 21-year-old son Arthur raced out onto the street, fearing the house might collapse. “It was like a volcano exploded,” said Januario, 47. Cracks in his home, which he had long assumed to be construction defects, widened in the months after the tremor in March 2018. His family was forced to abandon the house last year, part of an exodus of thousands of people being evacuated from the sweltering seaside city to keep them safe. Last May, federal authorities identified a culprit: petrochemical giant Braskem. The authorities said nearby salt mines operated by the company threatened the structural integri
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