Jack Russo News
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Philip Morris International Inc. agreed to acquire the remaining 20 percent stake in its Mexican tobacco business from billionaire Carlos Slim’s Grupo Carso SAB for about $700 million.
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Coca-Cola Co. will expand calorie labeling to the front of all packages and reiterated its pledge not to advertise to children under 12 anywhere as the world’s largest soft-drink maker fights criticism that it is contributing to obesity.
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Procter & Gamble Co. declined the most in more than four years after projecting fiscal fourth- quarter earnings that trailed analysts’ estimates because of currency fluctuations and marketing costs.
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McDonald’s Corp., the world’s largest restaurant chain by sales, posted first-quarter profit that was little changed as same-store sales dropped in the U.S. for the first time since 2003 amid soft global demand.
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In his last year as president, Hugo Chavez ordered Coca-Cola Femsa SAB and other beverage makers to cut prices, seized a local steel company’s assets and tightened currency controls that may cost Procter & Gamble Co. $275 million. Doing business in Venezuela isn’t likely to get easier under his successor.
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Teva Pharmaceutical Industries Ltd. and Procter & Gamble Co. agreed to combine their consumer-health businesses outside North America in a joint venture that aims to capture more of the $200 billion market for over-the-counter medicines.
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Having turned around H.J. Heinz Co., Chief Executive Officer Bill Johnson may reap about $100 million from the company’s buyout.
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Consumer stocks including Campbell Soup Co., General Mills Inc. and J.M. Smucker Co. advanced after Warren Buffett’s Berkshire Hathaway Inc. and 3G Capital agreed to buy H.J. Heinz Co. in a $23 billion deal.
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Yum! Brands Inc., owner of the KFC restaurant chain, said first-quarter same-store sales fell 20 percent in China, less than analysts estimated, as its reputation rebounded from a probe of a former chicken supplier.
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Trung Nguyen Group Corp., Vietnam’s biggest coffee retailer, wants to buy bean roasters in the U.S. and open shops in Seattle, New York and Boston this year, just after Starbucks Corp. debuted in Ho Chi Minh City.
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