Month: February 2018

Kraft Heinz announced Friday that Warren Buffett will be retiring from its board when his term ends at the company’s upcoming annual meeting. In its statement, Kraft Heinz said Buffett decided to step down “as he decreases his travel commitments.” Alex Behring, chairman of the board, said Buffett made “many invaluable contributions” to the company.
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Ian Lanoff, a Washington, D.C.-based lawyer who advises state pension funds on their fiduciary responsibilities, said the divestment of pension funds in the tobacco industry 15 years ago had little impact. “I didn’t see any evidence that tobacco companies cared at all,” Lanoff said “I’ve heard investment experts say to my boards, other people will
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Meanwhile, the demand for packaged and processed human foods is on the decline. Food companies that specialize in packaged and ready-made foods are looking for other sources of revenue — and are betting on the booming pet industry. On Friday, General Mills, the company famous for ready-made foods, such as cereals and yogurt, announced it
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The best-run companies have leaders willing to take a stand on societal issues such as gun control, former Medtronic chairman and CEO Bill George told CNBC on Friday. “If your only purpose is making money, then you’re going to run into … difficulties,” said George, a senior fellow at Harvard Business School where he teaches
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A secretive Chinese start-up called Bitmain that dominates the bitcoin “mining” industry likely made as much as chipmaker Nvidia did last year, Bernstein analysts estimate. Based on conservative estimates of gross margin of 75 percent and operating margin of 65 percent, the analysts calculate that Bitmain made $3 billion to $4 billion in operating profit
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How to best store those funds, while still earning interest on those sums, can vary. MaxMyInterest works to connect your bank accounts together to find the best rates for your cash. The highest rate the company currently offers is around 1.61 percent, with online banks typically providing the highest rates, according to Halloran. MaxMyInterest does
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Any potential celebrations are on hold, however, as RBS awaits a settlement decision by the U.S. Department of Justice over a probe into the bank’s mis-selling of toxic mortgage-backed securities. Years of scandal and misconduct have dogged the bank’s reputation. Laith Khalaf, senior analyst at Hargreaves Lansdown, called the positive profits news a “stay of
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Commercial fishing covers more than 55 percent of the ocean’s surface, a new study has revealed in a potentially worrying sign about the depletion of marine resources. Fish from the wild do not currently contribute a significant portion of human caloric consumption, but “the footprint of industrial fishing in the ocean is over four times
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“A lot of times, like [recently], there is a lot of cash on the sidelines and the stock market has done very well,” Dalio told CNBC Make It in January at the World Economic Forum in Davos, Switzerland. “It almost certainly will attract in a lot because everyone’s going to say, ‘Oh the stock market
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Hewlett Packard Enterprise shares skyrocketed as much as 19 percent on Thursday after the company reported first quarter financial results that blasted past analysts’ expectations on top and bottom lines. Here’s how the company did compared with what Wall Street expected: EPS: 34 cents vs. 22 cents expected according to Thomson Reuters Revenue: $7.67 billion
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A grassroots millennial group backed by the conservative Koch brothers is warning cities that giving Amazon multi-million-dollar tax breaks for its new headquarters might not pay off. Generation Opportunity, an activist group within the Koch network, has been speaking out against cities offering Amazon tax breaks and other incentives to encourage the e-commerce giant to
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The Cheesecake Factory on Wednesday reported fourth-quarter earnings of $57.7 million. On a per-share basis, the Calabasas Hills, California-based company said it had profit of $1.24. Earnings, adjusted for pretax gains, were 53 cents per share. The results met Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was also
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China’s billionaire population is on the rise. Today, the country is home to 10 percent of the world’s almost 2,400 billionaires, according to the latest report from Wealth-X. But, perhaps more notably, a massive 94 percent of them are self-made. Growth in China’s technology, consumer retail and real estate sectors over the past five to
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