Peru’s GDP Growth Slows as Election Concern Saps Investment
News from Bloomberg:

Peru’s economy expanded at the slowest pace in a year in the first quarter amid a decline in private investment ahead of the country’s presidential election.

Gross domestic product rose 8.8 percent in the first quarter from the same period a year earlier, down from 9.2 percent in the fourth quarter, the government’s statistics agency said today in an e-mailed report. The increase matched the median estimate of 11 analysts surveyed by Bloomberg.

Concern former army renegade Ollanta Humala may defeat congresswoman Keiko Fujimori in the June 5 runoff and pursue policies that hinder foreign investment in industries including mining and energy has led companies to shelve spending plans. Demand for electricity and cement has weakened since April indicating GDP growth will continue to slow in the second quarter, said Vicente Tuesta, head of research at Prima AFP, Peru’s biggest pension fund manager.

“Economic activity in April and May will be hardest hit,” Tuesta said …………… continues on Bloomberg
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Investment firm KKR plans to buy Texas-based sporting goods store, speed growth
News from Orlando Sentinel:

NEW YORK (AP) — The buyout firm Kohlberg Kravis Roberts & Co. LP said Tuesday that it has agreed to buy a majority stake in Academy Sports + Outdoors, a privately held sporting goods retailer with locations throughout the Southeast.

Terms were not disclosed.

Academy Sports’ president, Rodney Faldyn, will continue as president and assume the CEO job from David Gochman, who is the grandson of its founder. The Gochman family will keep a minority stake in Academy Sports. Gochman has been CEO since 1996. Faldyn became president in 2007.

In a statement, Faldyn said the ownership change will speed up the retailer’s continued growth and give it greater flexibility to achie…………… continues on Orlando Sentinel

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