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Latest News Wires Does bankruptcy for OGX indicate continued slide for Brazilian economy?

Despite the recent bankruptcy declaration by OXG, the oil company managed by Eike Batista, analysts say Brazil is gaining through improvements in the areas of infrastructure, taxes, and education. 

By Bradley BrooksAssociated Press / October 30, 2013

REUTERS/Ricardo Moraes/Files

The oil company of Brazil's one-time richest man filed for bankruptcy protection Wednesday, marking a humbling blow for Eike Batista, a flamboyant former champion speedboat racer who has been his nation's biggest economic cheerleader in recent years.