Martinne's Feed
Oct 10, 2013

Fisker green-car government loan heads to auction block

DETROIT/LONDON, Oct 10 (Reuters) – The U.S. Department of
Energy will consider bids to purchase Fisker Automotive’s
government loan on Friday in what could be the start of a
lengthy and expensive process to revive the dormant green-car
startup.

Fisker, which has not built a car in about 15 months, does
not have enough money to pay millions in outstanding bills. The
company laid off most of its employees in April after running
short of cash, a month after co-founder and executive chairman
Henrik Fisker resigned.

Oct 8, 2013

Nestle looks to sell Jenny Craig as part of divestiture push: sources

NEW YORK/LONDON (Reuters) – Nestle (NESN.VX: Quote, Profile, Research, Stock Buzz) is looking to sell its Jenny Craig diet business and is speaking to a small group of potential buyers about the brand, according to three sources familiar with the matter.

The sources, who declined to be identified as talks are private, said on Tuesday that Nestle was working with Goldman Sachs on the sale process.

Oct 6, 2013

Dirndls and brass: Oktoberfest mania spreads beyond beer festival

Munich (Reuters) – A decade ago, waitresses at Oktoberfest were the only ones in dirndls, the Bavarian peasant-inspired, corseted dresses featuring white blouses and colored aprons, and trendy Berliners wouldn’t dream of dancing to oompah music in public.

Now, Munich’s annual beer festival is a sea of traditionally-clad tourists, with revelers from as far away as Canada, Mexico and Iran donning dirndls or the equivalent outfits for men – lederhosen and checked shirts.

Oct 1, 2013

Nestle closer to getting rid of bad brands – CEO

LONDON, Oct 1 (Reuters) – Nestle hinted on Tuesday
it was getting closer to disposing of bad brands and shaking up
its portfolio to deal with businesses that have underperformed
for too long.

The company’s chief executive Paul Bulcke told investors
Nestle had drawn up lists of businesses that could be fixed and
those that could not.

Sep 26, 2013

Exclusive: Nestle weighing sale of PowerBar – sources

LONDON/NEW YORK (Reuters) – Nestle SA (NESN.VX: Quote, Profile, Research, Stock Buzz), the world’s largest food company, is looking to divest its PowerBar energy bars, a pioneer of sports nutrition products, according to four people familiar with the matter.

The sale of PowerBar could fetch several hundred million dollars, the people said this week. They asked not to be identified because the matter is private.

Sep 26, 2013

DSM trims profit forecast on FX, tax and fish oil

LONDON, Sept 26 (Reuters) – Dutch food and chemicals group
DSM has cut its 2013 earnings forecast, blaming
currency moves, the renewal of a Dutch “crisis tax” and weaker
demand for fish oil supplements.

Shares in the group, whose products are used to make a range
of goods from food to artificial joints to nylon, fell about 6
percent in early Thursday trading.

Sep 15, 2013

CEO brings own brand of change to Reckitt Benckiser

LONDON (Reuters) – Rakesh Kapoor, head of British consumer goods company Reckitt Benckiser Group (RB.L: Quote, Profile, Research), used to frown on people using his company’s most famous brands illegally to boost their own sales.

Now, as he holds aloft his iPhone in a bootleg cover emblazoned with RB’s Durex condom packaging, he says he embraces the practice – evidence of an executive who is open to change and willing to speak frankly about it.

Sep 11, 2013

Reckitt Benckiser hungry for new health deals

LONDON (Reuters) – Reckitt Benckiser Group (RB.L: Quote, Profile, Research, Stock Buzz) will be a major player in a coming shakeout of the global consumer health industry and has the capability to do sizeable deals, according to its chief executive.

Speaking at the Reuters Consumer and Retail Summit on Wednesday, CEO Rakesh Kapoor predicted that the industry, which covers vitamins to over-the-counter medicines to condoms, will see a wave of deals.

Sep 10, 2013

Unilever CFO stands by India as long-term bet

LONDON, Sept 10 (Reuters) – Unilever will
keep investing in emerging markets like India even though growth
is slowing, Chief Financial Officer Jean-Marc Huet said,
pointing to the group’s increased stake in Hindustan Unilever as
a long-term bet.

“Yes there is a slowdown in emerging markets, but if you’re
in the consumer business, you should be where people are, and
this is where aspiring consumers are,” Huet said at the Reuters
Global Consumer and Retail Summit on Tuesday.

Aug 9, 2013

Ackman’s public debate over J.C. Penney escalates

By Martinne Geller

(Reuters) – The public battle between J.C. Penney Co (JCP.N: Quote, Profile, Research) and leading shareholder Bill Ackman escalated Friday with the hedge fund manager demanding the ouster of the retailer’s chairman as well as the interim CEO, while Starbucks (SBUX.O: Quote, Profile, Research) CEO Howard Schultz joined the fray urging the billionaire’s removal from the board.

Ackman sent an open letter to the Penney board — his second letter in as many days — publicly criticizing the board and seeking the ouster of Chairman Thomas Engibous. A day earlier he had demanded the replacement of interim chief executive Myron Ullman.