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Company predicts a $200 million loss
February 19, 2014
By: TOM BRANNA
Editor
Colgate, the world's biggest maker of toothpaste, said Tuesday it will take a one-time charge of as much as $200 million as a result of new monetary policies in Venezuela. In January, the Venezuelan government said foreign companies investing in Venezuela will be required to make purchases at a rate established at weekly central bank auctions. Colgate said the latest price was 11.7 bolivars per dollar. The official exchange rate is 6.3 bolivars per dollar. Colgate-Palmolive Co. said that i...
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