28 April, 2015 by The TZ Newswire Staff Comments Off on Kraft Foods quarterly profit falls 16 percent, but tops expectations
Kraft Foods quarterly profit falls 16 percent, but tops expectations
Kraft, whose brands include Velveeta and Oscar Mayer, is struggling to grow as consumers shift to brands that are perceived as healthier, including foods that are organic or less processed. Both companies said at the time that the deal, which is expected to close in the second half of 2015, would provide an opportunity to expand Kraft’s brands overseas.
28 April, 2015 by The TZ Newswire Staff Comments Off on Goldman sees $1 trillion lift in 2015 via U.S. stock buybacks, dividends
Goldman sees $1 trillion lift in 2015 via U.S. stock buybacks, dividends
Investors will rake in more than $1 trillion in 2015 as U.S. companies increase stock buybacks and boost dividends, Goldman Sachs Group Inc said, with benefits coming soon as many S&P 500 companies exit a blackout period for repurchases next week. “Corporate activity in early 2015 supports our view that the S&P 500 will return more than $1 trillion of cash to investors this year,” said David Kostin, chief U.S. equity strategist at Goldman in New York said in an April 24 note to clients.
28 April, 2015 by The TZ Newswire Staff Comments Off on GoPro forecast beats on strong demand for action cameras
GoPro forecast beats on strong demand for action cameras
GoPro, whose cameras are used by surfers, skydivers and other action junkies, said it was focusing on Japan, Korea and China markets. “It appears that entry in China which happened in January is off to a good start and it feels like they got fairly high expectations for that to continue in (second quarter),” Dougherty & Co analyst Charles Anderson told Reuters. GoPro, which claims to make the five top-selling camera or camcorders in the United States, has said expansion outside the U.S. market is key to its efforts to boost revenue growth.
28 April, 2015 by The TZ Newswire Staff Comments Off on U.S. auto safety regulator poised for action on Takata, Jeep recalls
U.S. auto safety regulator poised for action on Takata, Jeep recalls
The National Highway Traffic Safety Administration expects to be ready to take action within two weeks to accelerate product recalls to reduce the safety risks associated with gas tank fires in older Jeep sport utility vehicles and exploding Takata Corp (7312.T) airbags, the agency’s top official said on Tuesday. NHTSA Administrator Mark Rosekind told reporters that he expects agency staff to present a plan of options in each case early next month and vowed to be as aggressive as possible to minimize dangers posed by the deadly defects.
28 April, 2015 by The TZ Newswire Staff Comments Off on Wal-Mart to build 115 new China stores by 2017 in push to offset slowing growth
Wal-Mart to build 115 new China stores by 2017 in push to offset slowing growth
Giant U.S. retailer Wal-Mart Stores Inc (WMT.N) plans to expand its footprint in China by nearly a third by opening 115 new stores by 2017, the firm’s chief executive said, in a renewed push to lure China’s grocery shoppers despite slowing growth. “Our aim is to become an integral part of China’s economy,” Chief Executive Doug McMillon said at a news conference in Beijing on Wednesday. The development plans come as the U.S.
28 April, 2015 by The TZ Newswire Staff Comments Off on U.S. economy likely grew at snail’s pace in first quarter, but pickup seen
U.S. economy likely grew at snail’s pace in first quarter, but pickup seen
U.S. economic growth likely braked sharply in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices cut spending, but there are signs activity is picking up. Gross domestic product probably expanded at a 1.0 percent annual rate, according to a Reuters survey of economists. With both the weather and the ports dispute out of the way, economists warn against reading too much into the expected growth slowdown. “The first quarter is not a true reflection of the health of the U.S.
28 April, 2015 by The TZ Newswire Staff Comments Off on Futures Movers: Oil slips as investors wait for U.S. data and supply update
Futures Movers: Oil slips as investors wait for U.S. data and supply update
Closely watched numbers from the U.S.