Cencosud SA dollar bonds fell to a two-week low after JPMorgan Chase & Co. lowered the debt of Latin America’s third-largest retailer to hold, saying a downgrade to junk would force some funds to sell.
Tocardo International BV, a Dutch maker of turbines that generate power from water, said the market for installing its devices in rivers may be worth as much as 1 billion euros ($1.4 billion) in 10 years’ time.
The dollar rose for a third day as tension in Ukraine prompted traders to seek refuge in the world’s reserve currency and on speculation Japan may be moving closer to starting another round of economic stimulus.
Writing off groceries as a corporate expense, a common practice among Chile’s wealthy, will get harder as the government moves to clamp down on tax avoidance to raise revenue needed to pay for social programs.
Chilean firefighters are struggling to control a blaze around the city of Valparaiso that has destroyed more than 2,000 homes, just two weeks after an earthquake collapsed houses in the north of the country.