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PepsiCo, Venezuela And A Solid Quarter

2015-10-14 14:39:14| Beverages - Topix.net

The strong dollar and a weak Bolivar are proving to be a drag on the business for the time being. Global snack-food and beverage giant PepsiCo reported third-quarter 2015 earnings on October 6 and the stock price looks like it was heading to a $100 that day.

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AT&T may take USD 1.1 bln charge on Venezuela assets

2015-10-01 14:42:00| Telecompaper Headlines

(Telecompaper) AT&T may have to take a charge of around USD 1.1 billion related to the assets of DirecTV's Venezuela subsidiary due to the South American country's economic crisis, reports Reuters. According to an SEC filing, AT&T is considering whether to use a less preferential currency exchange rate to value DirecTV's assets in Venezuela. The value of DirecTV's USD 1.1 billion in Venezuelan assets is currently based on an exchange rate of 12 Venezuelan bolivars (VEF) per USD. In the filing AT&T said it may value the assets at the so-called Simadi exchange rate of around 200 VEF per USD, erasing nearly all their value.

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At U.N., Guyana blasts Venezuela over century-old border spat

2015-09-29 22:06:11| Oil & Gas - Topix.net

Guyana used the United Nations as a forum to blast Venezuela on Tuesday, accusing the neighboring oil powerhouse of "intimidation and aggression" related to a border dispute two days after the countries agreed to restore diplomatic ties. In his speech at the U.N. General Assembly, Guyana's president David Granger accused his Venezuelan counterpart, Nicolas Maduro, of cross-border bullying.

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AT&T may take US$1.1 billion charge on DirecTV's Venezuela assets

2015-09-29 20:19:14| Telecom - Topix.net

AT&T Inc may take a charge estimated at US$1.1 billion related to DirecTV's Venezuela assets, the company disclosed Friday in a U.S. regulatory filing. A man walks past the AT&T store in New York's Times Square, June 17, 2015.

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Venezuela, Guyana restore ambassadors amid border dispute

2015-09-28 06:40:58| Oil & Gas - Topix.net

Venezuela and Guyana have agreed to restore their respective ambassadors, President Nicolas Maduro said on Sunday, a first step towards easing tensions that flared after the discovery of oil off the coast of a disputed territory. Maduro withdrew his country's ambassador to Guyana in July after demanding a halt to exploration by Exxon Mobil Corp off the region known as the Essequibo, and in September halted accreditation for Guyana's ambassador to Venezuela.

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