GM to shut down operations in crisis-hit Venezuela
  • Economy

    GM to shut down operations in crisis-hit Venezuela

    Venezuelan authorities have taken over General Motors and the company claims it will immediately close down its business in the nation. According to Zacks, GM claims the Venezuelan government stepped out of bounds when it removed cars from their facility. GM has stopped manufacturing cars two years ago and only sells car parts. Venezuela is undergoing an economic recession after its economy plummeted by as much as 18% in 2016.

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