Graze found that its nut packs were a bit hit in the US While curry-mad Britons can’t get enough mango chutney, it seems that Americans can’t stand the sticky stuff. That was what popular UK snacks firm Graze found out pretty quickly when it first expanded to the US […]
The annual World Economic Forum takes place amid freezing temperatures in snowy Davos, but inside the myriad meeting rooms and conference halls, there’s more than a little hot air. Some of this is generated by a form of English unique to this gathering, which can be mystifying – even to the seasoned WEF watcher. To help, we’ve compiled a short list of bewildering terms and phrases overheard or read at Davos, and attempted to decipher them, with limited success.
Ikea Group boss Jesper Brodin has told the BBC that the company pays its fair share of tax worldwide. The flatpack furniture retailer, which has more than 360 stores, paid 25% tax last year, Mr Brodin said. EU tax officials opened an investigation last month into a separate part of Ikea. Inter Ikea, which controls the company’s brand rights, may have been given unfair tax advantages by the Netherlands, the commission said.
JPMorgan Chase unveiled a $20 billion investment plan to expand its business as it takes advantage of tax cuts and deregulation. Aleksandra Michalska reports.
(Reuters) – Texas Instruments Inc (TXN.O) on Tuesday posted the slowest revenue growth in four quarters, disappointing investors who were expecting demand for the company’s automotive chips to drive strong results. Investors also reacted to a tepid forecast for current-quarter revenue. TI’s revenue rose nearly 10 percent in the fourth quarter but growth is expected to slow down to about 7 percent in the quarter ending March, based on the mid-point of the company’s forecast. Shares of the Dallas-based company fell 6.6 percent in after-hours trading on Tuesday after TI’s earnings also failed to exceed Wall Street expectations for the first time in at least two years.
(Reuters) – The Weinstein Company has entered into exclusive negotiations to sell the studio with a group of investors led by former Obama administration official Maria Contreras-Sweet, a source familiar with the matter said on Tuesday.
The offer would assume all liabilities related to the business operations, inject new cash and pay down liabilities on the balance sheet, according to the source, who added that the new company would be led by a majority-female board of directors and team of investors. The company has $375 million in debt.
The Wall Street Journal first reported the talks on Tuesday and that the company could be sold for around $500 million, citing people close to the negotiations. (on.wsj.com/2Bop76v)
The Weinstein Company has been looking for a buyer or rescue financing since late last year after accusations of sexual harassment against its former co-chairman, Harvey Weinstein. The company fired him in October following the allegations.
(Reuters) – Kimberly-Clark Corp (KMB.N) said on Tuesday it expects to eliminate 5,000-5,500 jobs, or 12-13 percent of its workforce, as part of its global restructuring program. The Kleenex and Huggies maker said the restructuring program would generate annual pre-tax cost savings of $500 to $550 million by the end of 2021. The Kleenex and Huggies maker said the restructuring program would generate annual pre-tax cost savings of $500 to $550 million by the end of 2021. The program is expected to broadly impact all its business segments and organizations in every major region, Kimberly-Clark said. The company also reported a near 1 percent rise in fourth-quarter net sales to $4.6 billion, compared with a year earlier.