Category: Business

PepsiCo surges in Q2; food biz paves the way

(FinancialPress) — Centennial snack and fizzy drink maker PepsiCo released it‘s 2nd quarter results this week. The results led the way to a healthy and much needed 4% rise in the company‘s stock value. Pepsi has been one of several pop manufacturers that have been going through a rough patch, affected by trend shifts towards healthier, more natural drinking habits. 2017 saw soda sales drop…

Hedge fund manager Dan Loeb: Nestlé ‘overly complex, lethargic’; ‘missing too many trends’

(FinancialPress) — Dan Loeb, a big-time hedge fund manager, is not impressed with Nestlé‘s performance. Loeb finds that the multinational food corporation is taking a “muddled strategic approach“ — one that is preventing the Kit Kat manufacturer from keeping up with new trends and competitors. “Nestle’s insular, complacent, and bureaucratic organization is overly complex, lethargic, and misses too many trends,” he said in a letter…

Nike airs a winning quarter

(FinancialPress) — Nike‘s stock jumped the ranks by as much as 11% after the company‘s financial results for the last quarter were posted. The 3-month period outcome outdid the shoemaker‘s own expectations. Both sales and profits rose year-on year for Q2 after most of the last 12 months saw the company‘s sales drop. Sales in the US rose by 3% compared to a year back…

Tesla hits breakthrough production goal for Model 3

(FinancialPress) — At long last – Tesla has made good on its promise to investors. The company has reached its production goal for its Model 3 vehicle. The company‘s regulatory filing submitted this week reveals it produced 5,031 Model 3s vehicles; thus closing off Q2 with a veritable landmark moment. Not one to sleep in the laurels, Elon Musk‘s company upped the ante and said…

ZTE replaces 14 board members in compliance to US deal

(FinancialPress) — Chinese phone manufacturer ZTE has shuffled its entire board of directors. The move cones as part of the compliance guidelines to withdraw the trade ban set by the US government. The move, made public on Friday through regulatory filings, moves ZTE closer to being able to purchase American goods and services once more. A total of 14 board members stepped down from their roles,…

PillPack is Amazon‘s latest acquisition

(FinancialPress) — Amazon (AMZN) shook up the pharmaceutical industry. On Thursday, they announced the acquisition of online pharmacy PillPack to the tune of $1 billion. PillPack was launched in 2013. It delivers prescription drugs straight to the patients‘ homes. The data it gathers from its customers is used to remind them when they should re-up their purchases, or if the insurance they‘ve contracted is the…

Trade war: Auto industry feels the heat

(FinancialPress) — The trade war between the US and China has claimed its first casualty. Daimler‘s profit expectations for the years have been lowered. The German carmaker announced last week that its expected results for 2018 were slightly modified to reflect the impact that the new tariffs to be applied by Beijing will have. After they are enacted, Daimler believes Chinese customers will opt for…

Canada, it‘s official: legal cannabis set for October

(FinancialPress) — Canada‘s Prime Minister, Justin Trudeau, has officialized the date for countrywide legalization of marijuana. Starting on October 17th, Canadians legal cannabis will be the norm for commercialization and consumption. Trudeau‘s revelation ended months of mystery over which would be the specific date in which the new policy would come into effect. Initially slated for July 1, the bill encountered several last-minute oppositions that…

Ford‘s Jim Hackett speaks on keeping a 100+-year-old car company competitive in 21st century

(FinancialPress) — Ford‘s (F) new development plan has been rolled out. The carmaker will create a new-mobility corridor that will stretch from the home of its new headquarters, Detroit, to Ann Arbor‘s University of Michigan. The company‘s CEO, Jim Hackett, has brought his “design thinking“ to its leadership in an effort to remake a 100+-year-old company. The first step in that direction has been the…

Google makes $550M strategic investment in Chinese e-commerce firm JD.com

(FinancialPress) — Google‘s ongoing presence expansion in China just took a huge leap upward, as it revealed a strategic partnership with regional e-commerce platform JD.com. Google will acquire $550 million in JD shares, both companies revealed. Google has been steadily laying the foundation for a full-fledged China operation. So far, it has opened offices there (such as an AI development unit) and has released products in…