Embraer takes Boeing to arbitration over failed deal as Brazil eyes China tie-up

SAO PAULO/BRASILIA (Reuters) - Brazil's Embraer SA said on Monday it had begun an arbitration process against Boeing Co , after the U.S. planemaker abruptly canceled a $4.2 billion (3.4 billion pounds) deal over the weekend that was years in the making.The deal's collapse was not well received by investors who appeared to have hoped until the last minute that the takeover would not fall apart. Boeing shares fell to an 8-year low before paring losses and closing 7.5% lower.But Brazil's..