Yum’s China missteps amplify calls for spinoff, other change
LOS ANGELES (Reuters) – Yum Brands Inc’s disappointing results from restaurants in China including KFC and Pizza Hut add pressure on Chief Executive Greg Creed to make swift changes to the business that is its main driver of sales and profit, analysts …
New York property market still hot, leasing slows a tad: Colliers
NEW YORK (Reuters) – Leasing activity in the third quarter for office space in Manhattan dipped below a 10-year rolling average for the first time since 2013, a crack in an otherwise robust commercial real estate market, Colliers International Group In…
Oil down, snaps three-day rally after big U.S. crude build
NEW YORK (Reuters) – Oil fell in volatile trading on Wednesday, snapping a three-day rally, after U.S. government data showing a large crude inventory build surprised traders the day after an industry group had reported a draw.
SABMiller rejects AB InBev’s $104 billion takeover approach
BRUSSELS/LONDON (Reuters) – SABMiller , the world’s second largest brewer, has promptly rejected an improved takeover proposal from Anheuser-Busch InBev , saying its 68 billion-pound ($104 billion) valuation was “very substantially” under par.
Corona, Modelo beers power Constellation’s profit beat
(Reuters) – Constellation Brands Inc’s quarterly profit blew past Street estimates as sales of beers under its Corona and Modelo brands rose and a strong dollar helped cut production costs.
Data storage company Pure Storage falls in debut
(Reuters) – Shares of data storage company Pure Storage Inc fell in their debut on Wednesday, highlighting a tough market for IPOs.
Monsanto slashing 2,600 jobs, buying back shares as sales fall
(Reuters) – Monsanto Co, one of the world’s largest seed and agrichemical companies, said on Wednesday that it was slashing 2,600 jobs and restructuring operations to cut costs in a slumping commodity market.
FTC may delay decision on Staples-Office Depot deal: WSJ
(Reuters) – The U.S. Federal Trade Commission is likely to delay a decision on approving Staples Inc’s $6.3 billion takeover of rival Office Depot Inc , the Wall Street Journal reported on Wednesday.
Profits at big U.S. banks soar since crisis: New York Fed
NEW YORK (Reuters) – Profits have soared since the global financial crisis at the five biggest U.S. banks with market-making dealing operations, New York Federal Reserve economists said in an article released on Wednesday.
Bombardier shares sink as Airbus talks fail, focus turns to funding woes
TORONTO (Reuters) – Bombardier Inc shares plummeted on Wednesday as the Canadian plane and train manufacturer’s failed attempt to sell a majority stake in its troubled CSeries jet program exposed the depths of its financial problems.
