Italy’s chocolate king faces succession questions
MILAN (Reuters) – Michele Ferrero, Italy’s richest man and the owner of a global chocolate and confectionery empire, has always resisted the temptation to allow outsiders to buy into his company.
IBM’s revenue slump stokes growth fears
(Reuters) – IBM Corp’s shares opened 7 percent lower after a drop in hardware sales in the latest quarter reinforced concerns about the company’s ability to grow as it focuses more on software and cloud services.
Fiscal policy fight may dampen U.S. economic growth: Reuters poll
WASHINGTON (Reuters) – U.S. economic growth this quarter is likely to be less robust than forecast last month given the erosion of confidence in the wake of the nasty fight over fiscal policy, a Reuters survey showed on Thursday.
American Air parent AMR posts better quarterly results
(Reuters) – American Airlines parent AMR Corp reported improved third-quarter results on Thursday, aided by bankruptcy cost-cutting.
U.S. commercial paper market shrinks in week: Fed
NEW YORK (Reuters) – The amount of U.S. commercial paper contracted in the week ended Oct 16 Federal Reserve data showed on Thursday.
Nestle pricing strategy helps lift sales in tough markets
VEVEY, Switzerland (Reuters) – Nestle said competitive pricing helped to lift sales growth in spite of tough conditions in emerging markets and Europe, reassuring investors worried by recent negative news from its peers.
Chinese abstinence hits drinks firms Diageo, Remy
LONDON (Reuters) – China’s crackdown on corruption, and with it luxury gift-giving, has again hit quarterly sales of spirits, European drinks groups Diageo Plc and Remy Cointreau SA said on Thursday.
Insight: Getty captures risks of Fed’s easy money policy
NEW YORK (Reuters) – When private equity firm Carlyle Group LP bought a controlling stake in Getty Images Inc in October last year, debt investors fell over one another to help finance the $3.3 billion deal.
U.S. failure to fix fiscal ‘mess’ undermines Fed on jobs: Fisher
NEW YORK (Reuters) – The U.S. Federal Reserve cannot effectively fight high unemployment unless Congress and President Barack Obama “get their act together” and fix the nation’s fiscal problems, a top Fed official said on Thursday.
Slimmed down supermarket chain Supervalu beats estimates
(Reuters) – Supervalu Inc ‘s quarterly profit beat Wall Street estimates as the supermarket operator cut costs after selling more than half of its stores earlier this year.
