Financial Charges Raise Question Marks Over Carrefour's Brazilian Unit

Shares in the world's second largest retailer Carrefour have traded sharply lower in recent days after it lowered its profits forecast due to escalating financial charges at its Brazilian unit. The firm has admitted that it is struggling to find the source of the original accounting issues and that the problems could have been accumulating for more than five years. With the Brazilian business already struggling to keep up with rivals due to the underperformance of its hypermarket outlets, these disclosures raise worrying concerns about the future of the unit, which was expected to be one of company's main growth

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