Brink’s Co. plunged the most in two years after saying it will write down the value of its Venezuelan assets, showing how last month’s 88 percent currency devaluation is squeezing companies with cash in the country.
A U.S. Securities and Exchange Commission rule requiring companies to disclose whether any “conflict minerals” are used in their products violates the free-speech rights of manufacturers, an appeals court held.
Anglo American Plc, which mines minerals including nickel and diamonds, filed April 10 for arbitration over a mining concession in Venezuela, according to the website of the International Centre for Settlement of Investment Disputes.
Venezuela’s government held televised talks with the opposition for the first time since the outbreak of protests against inflation and rising crime that have roiled the nation and left at least 39 dead.
Venezuela, holder of the world’s largest oil reserves, requires the price of Brent crude to average $121 a barrel this year, about $14 more than current prices, for the country’s government to balance its budget, according to Deutsche Bank AG.
Venezuela’s government started televised talks with the opposition at the presidential palace in Caracas following two months of protests against inflation and rising crime that have left at least 39 people dead.