NEW YORK (Reuters) – The National Retail Federation plans to fight a $7.2 billion settlement between some retailers and Visa Inc (V.N: Quote, Profile, Research, Stock Buzz) and MasterCard Inc (MA.N: Quote, Profile, Research, Stock Buzz) over transaction fees paid to the credit card companies.
The world’s largest retail trade organization said on Tuesday that the proposed settlement did not stop what it calls anti-competitive behavior by the credit card companies. The group said the deal would allow swipe fees, the amount paid to process electronic transactions involving credit and debit cards, to rise while barring further legal challenges.
Sept 7 (Reuters) – Kraft Foods Inc gave earnings
forecasts for the two companies it will split into next month
that disappointed analysts, sending its shares down more than 5
percent on Friday.
Kraft plans to spin off its North American grocery business
on October 1 into a company called Kraft Foods Group that will
make Planters peanuts, Oscar Mayer lunch meat and Velveeta
cheese. The remaining company, which will sell Oreo cookies,
Cadbury chocolate and Trident gum, mostly overseas, will be
called Mondelez International.