Embraer files arbitration against Boeing as shares fall over failed deal

SAO PAULO (Reuters) - Brazil's Embraer SA on Monday said it had begun an arbitration process against Boeing Co , after the U.S. planemaker canceled a $4.2 billion (3.4 billion pounds) deal over the weekend that its former partner saw as crucial to its long-term success. Embraer shares fell 14% in Sao Paulo on the news. The sudden collapse of the deal, triggered by a deadline that Boeing refused to extend, drew an irate response from Embraer.But on Monday, when Embraer executives hosted a call..