Deutsche Bank AG and Saint-Etienne, a centuries-old town in France’s Massif Central region, settled a four-year-old “toxic” loan spat this week. The town’s woes aren’t over as other banks aren’t playing ball, its mayor said.
After a surge in Brazilian real estate prices, Cia. Brasileira de Distribuicao Grupo Pao de Acucar is carving a niche as a landlord. The nation’s biggest food retailer is investing $500 million to build mini malls around its supermarkets.
Venezuela’s President Hugo Chavez is enlisting Mexico’s Gruma SAB, French retailer Casino and other international companies to boost supplies of milk, corn flour and cement as shortages threaten to dent his bid for re-election in 2012.
Carrefour SA, the world’s second- largest retailer, is considering a proposal to merge its Brazilian assets with those of Cia. Brasileira de Distribuicao Grupo Pao de Acucar, setting up a power struggle with French rival Casino Guichard-Perrachon SA.
French towns from Asnieres to Sainte-Etienne are calling on President Francois Hollande’s government to save them from about 10 billion euros ($13 billion) in Dexia loans whose risks they say weren’t made clear.