Family members from England, Canada and New York came to Trinidad to join their loved ones as they celebrated Onecimus Caprietta’s 100th birthday at the Arima Tennis Court on February 18.
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GM to take US$400m charge for bolivars
DETROIT—General Motors Co says it will take a charge of US$400 million pretax in the first quarter because of a change in the way it values Venezuela’s currency. GM will no longer use the official exchange rate of 6.3 bolivars to the US dollar. It is shifting to a rate of 10.7 bolivars to the dollar. GM announced the change in a government filing. The move came a day after Ford Motor Co said it will take a US$350 million charge in the first quarter because of a similar devaluation of Venezuela’s currency.
Both companies will now using another government rate that is determined by periodic auctions. Ford and GM both have manufacturing plants in Venezuela.
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