Bunge Limited (BG, quote) recently announced that it would sell its operations in Brazil to Yara International for $750 million. The sale represents a significant change in plans for the White Plains, New York company that had previously announced large-scale investments in South America’s largest economy.
The Bank for International Settlements has an interesting report out comparing lending to emerging markets in 2011 against the environment after the collapse of Lehman Brothers in 2008. Both periods saw a contraction in lending but for different reasons.
China data over the weekend was decidedly a mixed bag with retail sales and industrial production coming out above expectations while export growth disappointed.
Monday’s enforcement action by the U.S. Securities and Exchange Commission against the China-based affiliates of the Big Four accounting firms sent Chinese stocks tumbling on Tuesday, many to multi-year lows.
Investors in Chinese stocks cannot get a break as the mainland index falls to its lowest level in four years and normally defensive consumer-staple companies fall the most in three years.
The Brazilian real dropped to a three-year low last week as President Rousseff and other officials stepped up their public campaign to keep the currency weak. President Rousseff pronounced the currency as, “overvalued,” just a weeks after Central Bank President Tombini promised low rates for a, “prolonged time.”
Coca Cola (KO, quote) is doubling down on the Latin American consumer with a $1.3 billion investment in Chile over the next five years.