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 Walmart profits drop 18% in fourth quarter despite strong holiday sales
The Washington Post, February 22, 2017 Wednesday

 Walmart, the giant retailer, said Tuesday that it had attracted more customers during the crucial holiday shopping season but that its efforts had come at a cost. Sales at U.S. stores open at least a year rose 1.8 percent during the fourth quarter, compared with a 1.3 percent increase many analysts were expecting, Walmart reported. But profits fell 18 percent during that period to $3.8 billion, or $1.22 a share. Big-box retailers such as Walmart have been struggling in recent years as customers...
 Yahoo's sale price falls by 7% in deal with Verizon
The Washington Post, February 22, 2017 Wednesday

 IMPACT OF DATA BREACHES Some analysts had expected larger discount Yahoo's price tag dropped by $350 million, or about 7 percent, in a renegotiated deal that the Internet company and Verizon announced Tuesday. Some analysts assumed that the massive hacks in 2013 and 2014 that affected hundreds of millions of Yahoo accounts gave Verizon license to ask for a huge discount from Yahoo's initial $4.8 billion price tag. But Verizon didn't do that, according to multiple people familiar with the...
 Wells Fargo terminates four senior managers; Firings are fallout from unauthorized accounts scandal
USA TODAY, February 22, 2017 Wednesday

 Wells Fargo on Tuesday said it has fired four current or former senior managers amid the U.S. banking giant's internal investigation of a scandal involving millions of accounts unauthorized by customers. The four were terminated for cause in a unanimous vote by the company's board of directors, which is continuing its review of the bank's retail banking sales practices and related issues, Wells Fargo disclosed in a statement. The ousters came as the San Francisco-headquartered financial company...
 Walmart soars while Macy's flounders in chain-store wars
USA TODAY, February 22, 2017 Wednesday

 The latest financial results from chain-store giants Walmart and Macy's painted a stark picture Tuesday of how one retailer is finding its way through a retail landscape increasingly dominated by e-commerce giant Amazon, while the other struggles to regain its footing. Walmart, the world's largest retailer, saw rising sales during the fiscal fourth quarter ended Jan.27, reflecting its focus on a more efficient in-store experience, deep discounts offered over the holidays and better options for...
 Burger King owner to buy Popeyes for $1.8B; Restaurant Brands to expand chicken chain
USA TODAY, February 22, 2017 Wednesday

 The company that owns Burger King added to its fast-food empire with a deal to acquire fried chicken chain Popeyes for $1.8 billion. Restaurant Brands International, which owns Burger King and coffee-shop chain Tim Hortons, said Tuesday it had agreed to purchase the rapidly expanding company formally known as Popeyes Louisiana Kitchen for $79 per share. The deal reflects a 27% premium on the 30-day average of the firm's share price.
 UPS tests van-top delivery drone; But industry, regulators are still years away from implementation
USA TODAY, February 22, 2017 Wednesday

 Both the drone industry and federal regulators are years away from actual legal drone deliveries in the United States. But that's not stopping companies from testing possibilities, both to get the visual of a drone with their logo out in front of the public and to see what works.
 Johnson & Johnson subsidiary buys surgical device maker Torax Medical
Star Tribune (Minneapolis, MN), February 21, 2017 Tuesday

 Shoreview medical device maker Torax Medical is being acquired by a subsidiary of health care giant Johnson & Johnson Co. in a transaction of an undisclosed price.
 Tyson chief to talk strategy, logo changes
Arkansas Democrat-Gazette (Little Rock), February 21, 2017 Tuesday

 When Tom Hayes, Tyson Foods' new CEO, addresses consumer analysts in Florida today, he'll tell them the food giant is gearing up for strong growth and that it plans to continue expanding its many brands. In a Monday interview, Hayes said today's consumers want healthful and convenient food alternatives, but to deliver those qualities at affordable prices, it must be done at scale. He said Tyson will invest in innovation and plans to introduce new products that will feature antibiotic-free...
 Unilever shares down after Kraft Heinz withdraws $143 billion bid
Chicago Sun-Times, February 20, 2017 Monday

 NEW YORK - Shares in Unilever, the owner of brands like Hellman's, Lipton, and Knorr, are down sharply after rival Kraft Heinz withdrew a $143 billion takeover offer.
 Pop-Tarts pays sweet homage to all your fast-food favorites
USA TODAY, February 21, 2017 Tuesday

 Even if you love Pop-Tarts, the notion of making them into faux versions of pizza, tacos, burritos or chili-topped french fries might not have your taste buds dancing with anticipation.
 GLOBAL MARKETS; Stocks end mostly higher on holiday
Los Angeles Times, February 21, 2017 Tuesday

 Global stocks mostly rose Monday. U.S. markets were closed for Presidents Day as investors awaited key reports this week, including economic data, corporate earnings and minutes from the Federal Reserve's last meeting.
 General Mills shares fall after rivals' takeover news
Star Tribune (Minneapolis, MN), February 18, 2017 Saturday

 General Mills stock took a hit Friday after the company lowered its sales estimate for the year and as investors reacted to news of the food industry's biggest takeover attempt, involving two of its rivals.
 Kraft Heinz,Unilever scrap deal; $143B merger would have been 3rd largest
The Courier-Journal (Louisville, Kentucky), February 20, 2017 Monday

 Kraft Heinz has decided to withdraw its bid to merge with Unilever, scrapping a $143 billion deal that would have been one of the biggest in corporate history, the companies said Sunday.
 Abbott expands hub for medical dispatching, plans to add 75 jobs
St. Louis Post-Dispatch (Missouri), February 19, 2017 Sunday

 Abbott EMS is planning to add up to 75 jobs this year as its St. Louis office grows to cover five more states.
 Nostalgia key for McDonald's; Fast-food giant hopes to lure new customers with riffs on old favorites
Chicago Tribune, February 19, 2017 Sunday

 Old favorites are getting new life under the Golden Arches. Last month, McDonald's rolled out two new sizes of Big Macs -- the Grand Mac and the Mac Jr. -- and a few weeks ago, it added to its annual Shamrock Shake offer with four new mint-flavored drinks. Other riffs on menu staples are being offered in regions around the country, including the Sriracha Big Mac, garlic fries and Chicken McGriddles. The strategy behind the introductions is a smart one if it works, observers say: It allows the...
 Bank of America CEO earns $20m in 2016
The Boston Globe, February 18, 2017 Saturday

BODY Bank of America Corp. awarded its chief executive officer, Brian T. Moynihan, $20 million for his work last year, raising his compensation by 25 percent.
 AT&T upgrade will boost smart devices; AT&T expands Internet of Things wireless network to U.S., Mexico
The San Francisco Chronicle (California), February 18, 2017 Saturday

 Pushing beyond mobile phones, AT&T is expanding its cellular network to connect commercial smart devices, from water meters that detect excess toilet flushes to soda dispensers that learn what people prefer to drink. The company has tested the technology in San Ramon, and this week it announced plans to expand its upgraded network throughout the United States by this summer and into Mexico by the end of 2017. With the Gartner research group projecting as many as 20 billion Internet-connected...
 PG&E won't appeal felony convictions for 2010 blast; PG&E says it will not appeal its criminal convictions
The San Francisco Chronicle (California), February 18, 2017 Saturday

 Pacific Gas and Electric Co. says it will not appeal its felony convictions for violating safety laws and obstructing a federal investigation of the deadly San Bruno gas pipeline explosion, a step the utility calls part of its renewed commitment to public protection.  The announcement brought the criminal proceedings to an end and represented a turnabout for California's largest public utility, which previously had hotly contested prosecutors' accusations that it put profits ahead of safety.
 S.&P.'s Upward Streak Continues
The New York Times, February 18, 2017 Saturday

 Stock indexes inched ahead to record highs Friday, barely, after a late-afternoon push erased losses from earlier in the day. It caps the fourth straight week of gains for the Standard & Poor's 500-stock index, its longest such streak since July. Reports through the week showed that the economy is improving and corporate profits are growing more quickly than analysts expected. The encouraging data, along with hopes for lower taxes and other business-friendly policies from Washington, pushed the...
 Paramount C.E.O. Is Said to Be Leaving
The New York Times, February 18, 2017 Saturday

 LOS ANGELES -- One of Hollywood's longest-serving studio chiefs, Brad Grey, is negotiating his departure from Paramount Pictures, which has struggled at the box office after a period of severe underinvestment by Viacom, its troubled corporate owner. The discussions, according to a person briefed on the matter who was not authorized to speak publicly about the private talks, began earlier this week between Mr. Grey, who has been Paramount's chief executive since 2005, and Robert M. Bakish,...
 Britain Seeks to Cancel Sale of R.B.S. Branch Network
The New York Times, February 18, 2017 Saturday

 LONDON -- The British government said on Friday that it would ask the European Commission not to require Royal Bank of Scotland to sell its Williams & Glyn branch network by the end of this year.
    

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