Business

Business

Nutella maker to pay $2.8 billion for Nestle U.S. candy unit

(c) 2018, Bloomberg. Nestle agreed to sell its U.S. confectionery unit to Ferrero, the Italian maker of Nutella, in the first substantial step away from the candy industry by the company that invented milk chocolate. The sale of the unit, which includes the Butterfinger and Baby Ruth brands, is...


Business

US stocks reverse gains after record surge

(c) 2018, Bloomberg. U.S. stocks sank, retreating from all-time highs as commodities producers and industrial shares took a hit with oil and metals in decline. Treasuries rose amid Congressional talks to avert a government shutdown Friday. All major equity gauges were lower. The Dow Jones...


Business

World's largest money manager to CEOS: You must do good for society

(c) 2018, The Washington Post. More than 1,000 global CEOs received a letter Tuesday from one of the world’s most influential money managers with a pointed message: Simply posting good financial returns is no longer enough. You must have a positive impact on society, too. In his annual letter to...


Business

5 ways the future of retail is already here

(c) 2018, The Washington Post. NEW YORK - Americans’ shopping habits are quickly changing, which means retailers and tech start-ups are racing to make over every part of the industry, from the weekly grocery trip to putting together a weekend outfit. And while many of the new offerings - mobile...


Business

Tax law brings big paper losses, long-term gains to US banks

Banks-Taxes

NEW YORK (AP) — Big U.S. banks have been reporting billions of dollars in paper losses this month as they are forced to come into compliance with the new tax law. And while the losses are massive, they were largely expected, and bank executives say the new tax law will be good for banks as well as...


Business

Utah developers eye 3,300-acre master-planned community

ST. GEORGE, Utah (AP) — Developers in southern Utah have unveiled plans for a master-planned community along the Arizona line they say would be one of the largest ever built in the state. The (St. George) Spectrum reports the 3,350-acre Desert Color development would be made up of four main land-...


Business

Citigroup reported an $18 billion quarterly loss, but no one flinched

(c) 2018, The Washington Post. Citigroup reported one of the largest quarterly losses in its history Tuesday, and Wall Street didn’t flinch. The New York bank says the more than $18 billion loss in the fourth quarter was related to the new Republican tax law, which lowered the value of assets it...


Business

Trump anxiety, harassment fallout to dominate Davos forum

(c) 2018, Bloomberg. The World Economic Forum’s annual meeting in Davos, Switzerland, next week will host its usual line-up of industry titans, globe-trotting financiers and politicians of all ideological hues. The gathering is still almost certain to be dominated by just one of them: Donald J....


Business

Workers describe harsh conditions at Apple supplier in China

(c) 2018, Bloomberg. At a Catcher Technology manufacturing complex in the Chinese industrial city of Suqian, about a six-hour drive from Shanghai, workers stand for up to 10 hours a day in hot workshops slicing and blasting iPhone casings for Apple, handling noxious chemicals sometimes without...


Business

Google app that matches your face to artwork is wildly popular. It's also raising privacy

(c) 2018, The Washington Post. A Google app that matches people’s selfies to famous works of art and encourages users to share the side by sides on social media lept to the top spot on the iTunes App Store charts this weekend, ahead of YouTube, Instagram and Facebook’s Messenger, but it has also...


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