The Traderszone Network

Published in TZ Latest News 13 May, 2015 by The TZ Newswire Staff

U.S. companies rush to insulate themselves against Venezuela’s currency, economic woes

CARACAS/NEW YORK (Reuters) – A growing number of U.S. companies say they can’t cope with Venezuela’s sinking bolivar currency, prompting some of them to remove their operations in the South American nation from their consolidated financial reports. Many of those recently taking such action are medium-sized or small companies, which means that the tumbling currency and a deeply troubled Venezuelan economy have tended to have a disproportionately greater impact on their results than suffered by bigger entities with business in the country.

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