Kraft Heinz’ problems shine light on controversial budget tool

Kraft Heinz’ problems shine light on controversial budget tool
LONDON/BOCA RATON, Fla. (Reuters) – Mounting troubles at Kraft Heinz, revealed late on Thursday with a triple-punch of bad news, call into question its reliance on cost-cutting as a way to generate profit growth. FILE PHOTO: Heinz tomato Ketchup is show on display during a preview of a new Walmart Super Center prior to its opening in Compton, California, U.S.,... Read More

Kraft Heinz shares fall 28 percent after writedown, dividend cut

Kraft Heinz shares fall 28 percent after writedown, dividend cut
(Reuters) – Kraft Heinz Co shares fell to a record low on Friday a day after the food company disclosed a $15 billion write-down on its marquee brands, raising concern that years of rigorous cost cutting have eroded the value of its Kraft cheeses and Oscar Mayer deli meats. Kraft’s revenue growth has stagnated in the years since it merged... Read More

Kraft Heinz sees ‘step backwards’ in 2019, gets SEC subpoena

Kraft Heinz sees ‘step backwards’ in 2019, gets SEC subpoena
(Reuters) – Kraft Heinz Co reported disappointing quarterly results, including a $15 billion charge related to the value of its marquee Kraft and Oscar Mayer trade marks, and said it had received a subpoena from the U.S. Securities and Exchange Commission about its accounting practices. FILE PHOTO – Bottles of Heinz tomato ketchup of U.S. food company Kraft Heinz are... Read More

U.S. carriers compete for new slots at Tokyo’s Haneda airport

U.S. carriers compete for new slots at Tokyo’s Haneda airport
CHICAGO (Reuters) – The top three U.S. carriers announced bids for new slots at Tokyo’s Haneda International Airport on Thursday as part of a push to increase daily nonstop flights to the Japanese capital ahead of the 2020 Olympic Games and beyond. FILE PHOTO: Passengers are seen in front of security check at the Tokyo International Airport, commonly known as... Read More

United bids for six new slots at Tokyo’s Haneda airport

United bids for six new slots at Tokyo’s Haneda airport
A United Airlines plane with the Continental Airlines logo on its tail, sits at a gate at O’Hare International airport in Chicago October 1, 2010. REUTERS/Frank Polich/File Photo CHICAGO (Reuters) – United Continental Holdings is applying for six of 12 new slots open to U.S. carriers at Tokyo’s Haneda International Airport in a push to increase daily nonstop flights to... Read More

U.S. business spending on equipment weakening

U.S. business spending on equipment weakening
WASHINGTON (Reuters) – New orders for key U.S.-made capital goods unexpectedly fell in December amid declining demand for machinery and primary metals, pointing to a further slowdown in business spending on equipment that could crimp economic growth. People look at Deere equipment as they attend National Farm Machinery show in Louisville, Kentucky, February 11, 2016. With U.S. farmers bracing for... Read More

U.S. core capital goods orders unexpectedly fall in December

U.S. core capital goods orders unexpectedly fall in December
WASHINGTON, Feb 21 (Reuters) – New orders for key U.S.-made capital goods unexpectedly fell in December amid declining demand for machinery and primary metals, pointing to a further slowdown in business spending on equipment that could crimp economic growth. People look at Deere equipment as they attend National Farm Machinery show in Louisville, Kentucky, February 11, 2016. With U.S. farmers... Read More

Canadian auto union faces Catch-22 in General Motors fight

Canadian auto union faces Catch-22 in General Motors fight
TORONTO (Reuters) – Jerry Dias, the leader of Canada’s auto union, is unsparing in his rhetorical attacks on General Motors Co’s decision to close its Oshawa, Ontario, assembly plant and lay off thousands of union workers by year-end. Unifor national president Jerry Dias addresses General Motors assembly workers and supporters protesting GM’s announcement to close its Oshawa assembly plant during... Read More

Walmart holiday-quarter sales jump, says consumers still spending

Walmart holiday-quarter sales jump, says consumers still spending
(Reuters) – Walmart Inc posted its strongest holiday quarter in at least a decade on Tuesday, boosted by higher grocery and e-commerce sales, and said it saw no signs of weakness in U.S. consumer spending despite recent signs of a slowdown. Shares of the world’s largest retailer rose more than 3 percent on Tuesday in a broadly flat market, putting... Read More