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.
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.
China Minmetals Corp., the state- owned metals trader, led a group that agreed to pay $5.85 billion for Glencore Xstrata Plc’s Las Bambas copper project in Peru as China seeks greater control over material supplies.
Glencore Xstrata Plc, the global commodities trading and mining group, agreed to buy Caracal Energy Inc. for about $1.35 billion to take control of oil and gas assets in the central African nation of Chad.
Trafigura Beheer BV, the world’s second-biggest metals trader, is scouring for port and warehouse expansion opportunities in the Americas after investing $800 million on Colombian oil and coal facilities and buying a stake in an iron-ore port in Brazil.