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Venezuela Roils Corporate Profits in US, Elsewhere

U.S. companies operating in Venezuela have escalated the use of an accounting maneuver to insulate themselves from a worsening economic crisis in the South American country that has erased more than $10 billion in profits over the past 18 months. A growing number of U.S. companies, including Colgate-Palmolive, Procter & Gamble and PepsiCo, began deconsolidating the financial results of their Venezuelan operations in 2015 because of the plunging value of the country's...

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