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Batista’s OGX Plummets After Cash and Earnings Shrink: Rio Mover

OGX Petroleo & Gas Participacoes SA, the oil unit of former billionaire Eike Batista, slumped the most in two weeks after it reported a 72 percent cash drop in the second quarter and a record loss on unprofitable fields.

OGX, as the Rio de Janeiro-based explorer is known, fell