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Oct 8, 2012

Wal-Mart, Amex take on banks with low-priced debit card

NEW YORK, Oct 8 (Reuters) – Wal-Mart Stores Inc and
American Express Co are teaming up to offer a prepaid
debit card called Bluebird to target lower-income shoppers who
may not have bank accounts.

The move will give American Express, best known for its more
affluent cardholders, a 4,000-store gateway to tens of millions
of so-called “underbanked” households and the fees they will
generate as technology moves more of their transactions from
cash to digital payments.

Oct 8, 2012

Wal-Mart, Amex offer card for lower-income shoppers

NEW YORK (Reuters) – Wal-Mart Stores Inc and American Express Co are teaming up to offer a prepaid debit card called Bluebird to target lower-income shoppers who do not have bank accounts.

The Bluebird, which can be used anywhere that accepts American Express cards, not just at Walmart, is similar to a checking account, but without minimum balance requirements or monthly, annual or overdraft fees. It will accept payroll direct deposit, smartphone deposits, and will make mobile payments and person-to-person transfers.

Oct 4, 2012

Analysis: New single-serve coffee brewers pile pressure on Keurig

NEW YORK (Reuters) – A wave of new single-serve coffee brewers is coming to market in the United States, offering consumers more choices and stepping up pressure on market leader Keurig and its parent company, Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz).

This month, Bunn, maker of commercial beverage equipment, will launch a home version of its single-serve coffee machine. The machine, called MyCafe, will work with Keurig’s K-Cups, even though it is not licensed to do so.

Oct 3, 2012

Mondelez CEO sees focus fueling growth

NEW YORK (Reuters) – Mondelez International Inc (MDLZ.O: Quote, Profile, Research, Stock Buzz) Chief Executive Irene Rosenfeld is happy with her new company’s current portfolio, but told Reuters on Wednesday that there may be chances to add to it.

Speaking in New York on Wednesday, the company’s second day of trading as a stand-alone snacks firm, Rosenfeld said she liked the range of brands and geographic breadth of her company, which sells Oreo cookies, Cadbury chocolates and Trident gum.

Oct 1, 2012

Wal-Mart workers tell Wall Street about hard work, low pay

NEW YORK/CHICAGO, Oct 1 (Reuters) – Wal-Mart Stores Inc
employees who say the world’s largest retailer’s labor
practices are unfair voiced their concerns to Wall Street
analysts on Monday, claiming that problems like long lines and
empty shelves are systemic.

Five employees, two of whom have worked for the chain for
more than 20 years, outlined problems they say they see,
including unsafe conditions and low wages.

Sep 20, 2012

ConAgra profit beats with acquisitions’ help; shares up

Sept 20 (Reuters) – ConAgra Foods Inc reported
higher-than-expected quarterly earnings on Thursday, helped by
recent acquisitions and increased marketing, and the maker of
Chef Boyardee pasta raised its full-year forecast.

Shares of the company, which also makes Hebrew National hot
dogs and Banquet frozen meals, rose nearly 6 percent.

Sep 18, 2012

Hershey CEO weighing next steps in China

HERSHEY, Pennsylvania (Reuters) – Hershey Co (HSY.N: Quote, Profile, Research, Stock Buzz), which just agreed to buy out its joint venture partner in India, is weighing its next step in China.

The U.S. candy maker owns a factory in China with South Korea’s Lotte Shopping Co Ltd (023530.KS: Quote, Profile, Research, Stock Buzz). Current demand for the two companies’ products uses 90 percent of the factory’s capacity and Hershey Chief Executive John Bilbrey sees it exceeding that very soon.

Sep 17, 2012

Retail leaders pine over simple holiday gifts

NEW YORK (Reuters) – The year-end holiday season often brings children a dizzying array of smartphones, videogames and computers, but the retail executives who sell these items remember a time when gifts were much simpler.

Jeff Lasher, chief financial officer of Crocs Inc (CROX.O: Quote, Profile, Research, Stock Buzz), told the Reuters Retail and Consumer Summit last week that his most memorable Christmas gift was a train set that brought together his father and his two brothers.

Sep 11, 2012

John Compton leaves PepsiCo, Abdalla named president

By Martinne Geller

(Reuters) – PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) President John Compton is leaving the company to head truck-stop operator Pilot Flying J Oil Corp, narrowing the pool of likely candidates to become the soft drink and snack giant’s next CEO.

Zein Abdalla, president of PepsiCo Europe, will succeed Compton as president of PepsiCo, effective immediately. Enderson Guimaraes will take over from Abdalla in Europe, the company said late on Tuesday.

Sep 7, 2012

Kraft gives disappointing outlooks

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.