China plans to tighten rules on how direct-sales companies train sales staff and introduce products, as authorities probe allegations of abuses by Nu Skin Enterprises Inc., said two people familiar with the matter.
George Soros’s Soros Fund Management LLC trimmed its stake in Herbalife Ltd. in the fourth quarter after the stock climbed by at least 60 percent from when the billionaire’s family office purchased the shares last year.
Post Holdings Inc., the maker of Raisin Bran cereal, agreed to buy the PowerBar and Musashi sports nutrition brands from Nestle SA to take advantage of increasing demand for health and fitness related snacks.
Herbalife Ltd., the nutrition company that hedge fund manager Bill Ackman has accused of being a pyramid scheme, fell the most in a year after a U.S. senator called for a probe into the company’s operations.
Nu Skin Enterprises Inc. Chief Executive Officer M. Truman Hunt, who oversaw a sevenfold gain in the direct-seller’s shares in the past seven years, is facing the biggest test of his tenure after a state-run newspaper in China said his company runs a pyramid scheme.
Nu Skin Enterprises Inc., the seller of skin-care products that’s under investigation by the Chinese government, plans to continue to sell its merchandise in the Asian nation while conducting an internal review there.