Posts Tagged ‘Business’

Novartis CEO Steers Drug Maker Back to R&D

Sunday, February 18th, 2018

Vasant Narasimhan, the 41-year-old chief executive at Novartis AG, is vowing data science and digital technologies will revolutionize the company’s drug-development pipeline.

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Like Peter Thiel, VCs Feel Alienated by Silicon Valley ‘Echo Chamber’

Sunday, February 18th, 2018

Billionaire venture capitalist Peter Thiel has said he plans to leave Silicon Valley in part because of its perceived cultural uniformity, joining other entrepreneurs and investors who have defected away from the nation’s high-tech cradle.

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What the Price Ham Tells Us About Spain’s Economy

Sunday, February 18th, 2018

Spain is shaking off one of its worst downturns in decades and splurging on goods recently considered extravagant, including the ultimate Spanish gastronomic luxury: free-range, acorn-fed Iberian ham.

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The Benefits, and Costs, of Higher Metal Tariffs

Saturday, February 17th, 2018

Aluminum and steel producers hope tariffs under consideration by the Trump administration will heat up demand for their products, but the U.S. remains an expensive place to make the metals.

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Budget Deal Likely to Deliver Hefty Business to Defense Companies

Saturday, February 17th, 2018

The recent budget deal has handed U.S. defense companies an extra $75 billion over the next two years as the Pentagon boosts spending on aircraft, missiles, tanks and maintaining older equipment.

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Coca-Cola Betting Big on Smaller Packages

Friday, February 16th, 2018

Coca-Cola Co. is betting that smaller packages that command higher prices will boost sales in the company’s struggling soda business this year.

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Olympics Audience Shrinks, But NBC Touts Win

Friday, February 16th, 2018

The verdict is in for the first week of the Winter Olympics: Viewership is down. That isn’t stopping NBC from claiming gold.

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Mattel Ditches High-Tech Barbies, Goes Back to Basics

Friday, February 16th, 2018

Mattel Chief Executive Margo Georgiadis is shutting down products with extraneous technology from its Barbie lineup and elsewhere in the toy maker’s portfolio.

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For the Federal Reserve, a New Chief but Same Rate Path

Friday, February 16th, 2018

Jerome Powell is stressing continuity as he takes over as Fed chairman, which suggests the central bank will keep gradually raising interest rates this year, unperturbed by recent market volatility and signs of firming inflation.

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Newell CEO Defends Management Amid Activist Calls for Change

Friday, February 16th, 2018

Newell Brands CEO Mike Polk, facing a proxy fight with an activist investor seeking to oust him and the entire board, said a bruising retail environment and not management missteps are behind the company’s recent woes.

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What Stores Do With $90 Billion in Merchandise Returns

Friday, February 16th, 2018

Retailers rang up their strongest holiday sales since 2011, but now they have to figure out what to do with an estimated $90 billion in returned holiday sales of apparel, electronics and sporting goods.

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Deere Sees Strong Equipment Demand This Year

Friday, February 16th, 2018

Deere & Co. raised sales forecasts for its farm and construction equipment this year.

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Big Food Faces Pressure as Consumers Seek Fresh Meals, Snacks

Friday, February 16th, 2018

Food makers’ earnings show they remain under pressure as consumers hunt for healthier meals and snacks.

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Steve Wynn Won’t Get Up to $330 Million in Severance From His Casino Company

Friday, February 16th, 2018

Billionaire casino executive Steve Wynn won’t be getting severance from the company he founded, Wynn Resorts, following his resignation as chairman and CEO after sexual misconduct allegations were detailed in a Wall Street Journal investigation.

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The Robots Are Coming for Garment Workers

Friday, February 16th, 2018

Automation is finally invading the garment industry, transforming sweatshops and putting people out of work in poor countries like Bangladesh. For the U.S., that means lower prices and new domestic production possibilities.

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Ghosn Takes Huge Pay Cut to Stay at Renault

Friday, February 16th, 2018

Renaul’s Carlos Ghosn took a steep pay cut after agreeing to remain at the helm of the French car maker for another four years, bowing to a campaign by the French government, one of its main shareholders, against high executive pay.

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Qualcomm Presses Broadcom After Meeting

Friday, February 16th, 2018

Qualcomm said while it is open to further discussions with Broadcom it remains against the company’s “best and final” takeover offer.

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Movies Made in China Trickle Into U.S. Theaters

Friday, February 16th, 2018

Just in time for Lunar New Year, when movie-going is popular in China, four Chinese-made movies are set for release in the U.S. as Hollywood forges more ties with the world’s next top box-office market.

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U.S. Weighs Tariffs and Quotas on Steel, Aluminum Imports

Friday, February 16th, 2018

The Trump administration said it was considering broad-based tariffs and quotas to curb imports of steel and aluminum to protect national security, though officials stressed that the ultimate policy could be considerably more limited.

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Consumer Sentiment Rebounds in February

Friday, February 16th, 2018

U.S. households’ confidence in the economic outlook rebounded this month, as a gauge of consumer sentiment hit its second-highest level since 2004.

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Jumbo Loans Are New Threat in U.S. Student Debt Market

Friday, February 16th, 2018

Most borrowers who left college or graduate school owing at least $50,000 in student loans in 2010 had failed to pay down any of their debt four years later, according to a study by the Brookings Institution.

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U.S. Import Prices Rise in January

Friday, February 16th, 2018

Prices for foreign-made goods imported to the U.S. rose in January, driven by a broad range of product price increases and capping a week of solid inflation readings.

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U.S. Home Construction Rose 9.7% in January

Friday, February 16th, 2018

U.S. home builders broke ground briskly in January, a development that could kickstart economic growth and ease a runup in home prices.

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Publishers Warm to Google’s Ad Blocker, but Chafe at Company’s Power

Friday, February 16th, 2018

Publishers are greeting the launch of Google’s ad blocker with a mixture of relief and unease, pleased that it is purging intrusive ads but worried over the internet giant’s power to quickly overhaul the industry.

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Kraft Heinz Hints at Appetite for Deals

Thursday, February 15th, 2018

Kraft Heinz Co. hinted at plans to do more deals. In a presentation to investors, Chief Executive Bernardo Hees said big food makers like Kraft Heinz face pressure to consolidate to confront changing consumer demands for fresher food and more snacks.

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Federal Judge Rejects Government Loan for Puerto Rico Utility

Thursday, February 15th, 2018

A federal judge has rejected a $550 million loan to keep Puerto Rico’s troubled electric utility in operation, threatening the island with more power outages at a time when it is trying to recover from last summer’s devastating hurricanes.

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Inspector General Opens Probe of FCC’s Easing of Media-Ownership Rules

Thursday, February 15th, 2018

A federal inspector general has agreed to investigate actions by federal regulators that might benefit Sinclair Broadcast Group Inc. in its efforts to buy Tribune Media Co., according to a top congressman who requested the probe.

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At Thomson Reuters, Tensions Between Family and Board Ratchet Up With Blackstone Deal

Thursday, February 15th, 2018

The board of Thomson Reuters recently pressed ahead with plans to sell a piece of its business to Blackstone Group despite its chairman’s concerns that the company might not be getting the best price.

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A Profit at Sears? (There’s a Catch)

Thursday, February 15th, 2018

Sears said in a regulatory filing that comparable-store sales fell 15.6% in its latest quarter, but that it expects recent U.S. tax law changes to help it post a profit.

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Trucking Rates Come Down a Bit but Problems Persist for Shippers

Thursday, February 15th, 2018

Manufacturers and retailers are enjoying a breather from soaring trucking costs, but many shippers say lingering problems in booking big rigs point to more turmoil ahead.

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