Brookfield's Bet on a Road Becomes a $2.7 Billion Headache in Peru
The tolls spawned public protests over the costs to Lima residents, corruption charges against a local official and disputes between Brookfield and both the country and its capital city. At present, a populist mayor nicknamed Porky has made killing the toll contract his singular goal, and Brookfield's latest arbitration asserts Peru illegally seized the roads.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
39 minutes ago
- Yahoo
Arcos Dorados (ARCO) Stock Trades Up, Here Is Why
What Happened? Shares of fast-food chain Arcos Dorados (NYSE:ARCO) jumped 7.4% in the morning session after the company reported mixed second-quarter results that saw profits beat expectations but revenue fall short. The master franchisee for McDonald's in Latin America and the Caribbean posted earnings of $0.11 per share, easily surpassing analyst estimates of $0.08. However, total revenue of $1.14 billion missed Wall Street's expectations, growing just 2.8% year-over-year. While same-store sales, which track performance at restaurants open for at least a year, grew a solid 12.1%, this represented a significant slowdown from previous periods. The company's operating margin also declined to 5.5% from 6.7% in the same quarter last year. Investors appeared to weigh the strong profit beat against the revenue miss and decelerating growth, leading to a muted reaction for the stock. Is now the time to buy Arcos Dorados? Access our full analysis report here, it's free. What Is The Market Telling Us Arcos Dorados's shares are not very volatile and have only had 7 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. The previous big move we wrote about was about 23 hours ago when the stock gained 4.2% as investors cheered a government report showing that inflation remained steady in July. The steady inflation figures have fueled expectations that the Federal Reserve may soon consider an interest rate cut to stimulate the economy, a move that would likely benefit consumer discretionary spending, including dining out. The July Consumer Price Index (CPI) rose 2.7% from a year earlier, meeting the previous month's pace and coming in slightly below economists' expectations of a 2.8% increase. On a monthly basis, the CPI rose 0.2%, a slowdown from the 0.3% increase seen in June. While the cost of dining out continued to climb, rising 0.3% in July, this was offset by a 0.1% dip in grocery prices, contributing to the overall stable inflation picture. The market's positive reaction sent major stock indexes, including the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, soaring. This optimism spilled over into the restaurant sector, which has been grappling with a challenging macroeconomic environment marked by high costs and concerns over consumer traffic. Arcos Dorados is up 0.7% since the beginning of the year, but at $7.56 per share, it is still trading 25.2% below its 52-week high of $10.10 from August 2024. Investors who bought $1,000 worth of Arcos Dorados's shares 5 years ago would now be looking at an investment worth $1,583. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
Yahoo
39 minutes ago
- Yahoo
Brazil unveils aid package for exporters hit by U.S. tariffs
BRASILIA (Reuters) -Brazil's government unveiled on Wednesday a long-awaited aid package for companies hurt by steep tariffs imposed by U.S. President Donald Trump on many goods from that country. The South American nation will extend a program that returns part of the exported value to all companies that ship to the United States, Vice President Geraldo Alckmin told an event in Brasilia. The plan also includes government purchases of products that would initially be exported to the United States, he added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 hours ago
- Bloomberg
Argentina Faces Massive Debt Rollover Amid Currency Pressures
Javier Milei's government faces a key test on Wednesday as it tries to roll over 15 trillion pesos ($11.3 billion) of local currency debt representing about third of all the money in circulation in Argentina's economy. Yields on short-term government notes soared to a record 65% earlier this week ahead of the auction — a reflection of a liquidity crunch in the local financial system after the central bank raised reserve requirements in a bid to contain inflation and ease pressure on the currency.
