Friday, February 13, 2015

Struggling Venezuelan economy harming foreign businesses


Venezuela's struggling economy is creating losses of millions to foreign businesses like PepsiCo and Coca-Cola. PepsiCo said Wednesday that it lost $126 million last year because the bolivar, Venezuela's currency, lost value. The company warned that if the bolivar is devalued again, it would harm 2015 profits. Fourth-quarter profits for PepsiCo fell by 25 percent. The company states there's "significant uncertainty" about the country's currency. More....

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