Martinne's Feed
Nov 7, 2012

Molson Coors warns of challenge ahead; shares fall

By Martinne Geller

(Reuters) – Molson Coors Brewing Co (TAP.N: Quote, Profile, Research, Stock Buzz) warned on Wednesday that the current quarter would be the most challenging of the year, with higher costs, increased spending and weak economic conditions, and the beer maker’s shares fell 3.7 percent.

The share decline outpaced that of the wider market, which was down more than 2 percent a day after the re-election of President Barack Obama. Comments by the European Central Bank president weighed on market sentiment.

Nov 7, 2012

Kraft affirms outlook as it seeks to tailor products

Nov 7 (Reuters) – Kraft Foods Group Inc stood by
its full-year outlook on Wednesday as it works to better tailor
its product portfolio to a weak economy in North America, the
only region the newly independent company now operates in.

Kraft was spun off last month from the maker of Cadbury
chocolates and Oreo cookies, which goes by the name of Mondelez
International. Unlike Mondelez, which gets some 45
percent of its sales from developing markets, Kraft is focused
on slower-growing North America.

Nov 2, 2012

U.S. craft brewers fear Modelo deal will limit their route to pubs

NEW YORK/WASHINGTON (Reuters) – Some U.S. craft brewers are uneasy about plans by Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz) to buy out Mexican beer maker Grupo Modelo (GMODELOC.MX: Quote, Profile, Research, Stock Buzz), fearing the giant’s increased power could make it harder for them to hitch a ride on delivery trucks to stores and pubs.

Brewers, as well as beer wholesalers and members of Congress, have been quietly taking this concern and others to the Justice Department, which is investigating whether the $20.1 billion deal complies with antitrust law. The department has given no sign of being ready to make a decision.

Oct 31, 2012

New York commuters walk, bike and fume amid post-Sandy snarls

NEW YORK, Oct 31 (Reuters) – New York City commuters endured
hours-long bus trips and bumper-to-bumper traffic on Wednesday
as the city struggled to fix a crippled subway system and get
back to business in the wake of mega-storm Sandy.

Even with many people staying home for a third consecutive
day, New York-area commuters grappled with clogged streets. Some
bicycled to work. Some walked across the Brooklyn Bridge. Others
gave up altogether and turned back home after waiting in vain
for packed buses to take on more passengers.

Oct 31, 2012

U.S. Northeast back to business after Sandy’s hard hit

NEW YORK, Oct 31 (Reuters) – Millions across the U.S.
Northeast stricken by massive storm Sandy will attempt to resume
their normal lives on Wednesday as companies, markets and
airports reopen despite grim projections of power and mass
transit outages around New York for several more days.

With six days to go before the Nov. 6 elections, President
Barack Obama will visit flood-ravaged areas of the New Jersey
shore, where the storm of historic proportions made landfall on
Monday. As his guide, he will have Republican Governor Chris
Christie, a vocal backer of presidential challenger Mitt Romney
who has nevertheless praised Obama and the federal response to
the storm.

Oct 31, 2012

Millions in U.S. Northeast struggle after massive storm

NEW YORK, Oct 30 (Reuters) – The northeastern United States
battled epic flood waters and lengthy power outages on Tuesday
after the massive storm Sandy pummeled the coast with a record
storm surge, high winds and heavy rains that killed at least 45
people and caused billion of dollars in losses.

Millions of people in New York City and other hard-hit areas
will spend days or weeks recovering from a storm already seen as
far more destructive that Hurricane Irene, which slammed into
the same region a year ago. One disaster
modeling company said Sandy may have caused up to $15 billion in
insured losses.

Oct 31, 2012

U.S. East Coast reels from massive, deadly storm

NEW YORK, Oct 30 (Reuters) – Millions of people faced epic
flooding and lengthy power outages on Tuesday after the massive
storm Sandy wreaked havoc in much of the eastern United States
with high winds and heavy rains.

The storm killed at least 45 people, including at least 18
in New York City, and insurance companies started to tally
billions of dollars in losses.

Oct 31, 2012

New Yorkers take Sandy travel challenges in stride

NEW YORK (Reuters) – With New York City’s subway system paralyzed by Sandy’s crippling blow, millions of commuters are rethinking how they will get to work this week, and they are taking it one step at a time.

The storm, which killed 23 people in New York state, closed roads and bridges and flooded tunnels, garages and rail yards, dousing the nation’s largest mass transit system with saltwater, which is corrosive to its electrical system.

Oct 31, 2012

East Coast crippled by massive storm, death toll climbs

NEW YORK (Reuters) – Millions of people were left reeling in the aftermath of the whipping winds and heavy rains of the massive storm Sandy on Tuesday as New York City and many parts of the eastern United States struggled with epic flooding and extensive power outages.

The storm killed at least 40 people, including at least 18 in New York City, and insurance companies started to tally billions of dollars in losses.

Oct 30, 2012

U.S. East Coast crippled by gigantic storm, 30 dead

NEW YORK, Oct 30 (Reuters) – Millions of people were left
reeling in the aftermath of the massive storm Sandy on Tuesday
as New York City and a wide swathe of the eastern United States
struggled with epic flooding and extensive power outages. The
death toll climbed to at least 30.

Sandy, which crashed ashore with hurricane-force winds on
Monday near the New Jersey gambling resort of Atlantic City as
the biggest storm to hit the country in generations, swamped
parts of New York’s subway system and Manhattan’s Wall Street
district, closing financial markets for a second day.