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[1/2] Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. Smucker (SJM.N) said on Monday it will buy Twinkies-maker Hostess Brands (TWNK.O) in a $5.6 billion deal, as major U.S. packaged food companies look to expand their brand portfolios with pandemic-era fortunes dwindling. J. M. Smucker will pay Hostess shareholders $34.25 per share in a cash and stock deal, representing a premium of 54% since the day before the report surfaced. Hostess Brands became an acquisition target after it managed to boost its revenue through price hikes that fueled investor concerns over its prospects with its volume growth consistently declining. Smucker and Hostess deal follows a spree of other deals including that of Campbell Soup's (CPB.N) $2.7 billion deal for Rao's sauce maker Sovos Brands (SOVO.O) and Unilever (ULVR.L) buying premium frozen yogurt brand Yasso in North America.
Persons: Brendan McDermid, Smucker, Campbell Soup's, Hostess, Ding Dongs, Dimpal Gulwani, Ananya Mariam Rajesh, Anirban Sen, Savio D'Souza, Shinjini Organizations: REUTERS, Hostess Brands, Reuters, Hostess, Mills Inc, Mondelez, PepsiCo Inc, Hershey Co, Sovos, Unilever, Hos, Thomson Locations: Manhattan, New York City, U.S, North America, Lenexa , Kansas, Ho, Bengaluru, New York
Ripple effects from international incidents also affect the US emergency kit market. “More people are thinking about (emergency preparedness) and those that always have been are spending more.”Federal data backs it up. Many experts say while buying emergency kits might be helpful, the most important preparedness actions will not hurt your wallet. Patrick T. Fallon/AFP/Getty ImagesCrager warns people who choose to purchase extensive disaster kits should not be lulled into a false sense of security. It’s one of the most important steps we can take.”For more information on FEMA disaster preparedness recommendations, visit www.ready.gov.
Persons: , Trevyn Reese, Reese, Hilary, Bryan Woolston, Joel Stuart, , Christian Schauf, Stuart, Lea Crager, FEMA’s, you’re, Patrick T, Fallon, ” Schauf, , Jeff Schlegelmilch Organizations: New, New York CNN, Federal Emergency Management Agency, Ready, Hardware, Walmart, Tropical, Reuters Sirius Survival, Supply, Amazon, Sirius, Norfolk Southern, Federal, Preparedness Survey, FEMA, Getty, National Center for Disaster Preparedness, Columbia University Locations: New York, California, Cathedral City , California, Hawaii, Norfolk, East Palestine , Ohio, North Korea, United States, Russia, Ukraine, Lahaina , Hawaii, AFP, www.ready.gov
FILE PHOTO-Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. REUTERS/Brendan McDermidFile Photo Acquire Licensing RightsNEW YORK, Aug 25 (Reuters) - Hostess Brands Inc (TWNK.O), the maker of Twinkies snack cakes, is exploring a sale after fielding takeover interest from major snack food makers, people familiar with the matter said on Friday. General Mills Inc (GIS.N), Mondelez International Inc (MDLZ.O), PepsiCo Inc (PEP.O) and Hershey Co (HSY.N) are among the companies that have shown an interest in acquiring Hostess, the sources said. Hostess has hired investment bank Morgan Stanley (MS.N) for advice on handling the deal negotiations, the sources said. No agreement is certain and Hostess may decide against any deal, the sources added.
Persons: Brendan McDermidFile, Hostess, General Mills, Morgan Stanley, Mills, Ding Dongs, Dean Metropoulos, Alec Gores, Gross, Anirban Sen, Abigail Summerville, Chris Reese, Marguerita Choy Organizations: REUTERS, Hostess Brands Inc, Nasdaq, General, General Mills Inc, Mondelez, PepsiCo Inc, Hershey Co, Hostess, Hershey, PepsiCo, Hos, Apollo Global Management Inc, Thomson Locations: Manhattan, New York City, U.S, Mondelez, New York, Lenexa , Kansas, Ho
In this article HMARBKNG Follow your favorite stocks CREATE FREE ACCOUNTMy hotel bill from a three-night trip to New York City included 21 charges. Nine were for "destination fees." Federal Trade Commission estimates show consumers paid around $2 billion in hotel fees before the pandemic, and mandatory fees have grown since then. The bill, the Hotel Fees Transparency Act, prohibits hotels from advertising rates without mandatory fees. Former presidential candidate and current Senator Amy Klobuchar, D-Minn., introduced the Hotels Fees Transparency Act to the U.S. Senate in late July.
Persons: Joe Biden's, I'd, Munir Salem, Rafat Ali, Joe Biden, Kent Nishimura, Ali, it's, Amy Klobuchar, Bill Clark, Park's Salem, Expedia, Chip Rogers, I'm Organizations: Thompson, Park, CNBC, Thompson Central, Newspapers, Federal Trade Commission, Los Angeles Times, Getty, U.S . Senate, U.S ., Cq, Inc, Biden Administration, United, Frontier, Texas, Holdings, Marriott International Inc, Marriott, American, Lodging Locations: New York City, North America, Joe Biden's State, Park New York, Hyatt, York, U.S, U.S . Senate, Pennsylvania
Brent crude fell 20 cents, or 0.2%, to $87.35 a barrel by 0006 GMT, after settling at its highest since Jan. 27 in the previous session. West Texas Intermediate crude (WTI) fell 23 cents, or 0.3%, to $84.17, after settling at its highest since November 2022. Chinese data on Tuesday showed crude oil imports in July fell 18.8% from the previous month to their lowest daily rate since January. China's consumer sector also fell into deflation and factory-gate prices extended declines in July, as the world's second-largest economy struggled to revive demand. Also supporting prices were top exporter Saudi Arabia's plans to extend its voluntary production cut of 1 million barrels per day for another month to include September.
Persons: Johan Sverdrup, Carina Johansen, NTB, Brent, Laura Sanicola, Muralikumar Organizations: West Texas, Saudi, Investors, U.S, Consumer, Index, Thomson Locations: North, Saudi, Russian, Russia, Washington
Sequence offers access to weight-loss drugs like Ozempic and Wegovy. Analysts say the move could save the company, but some WeightWatchers members aren't happy. Although the medication has gained popularity online and among celebrities, veteran WeightWatchers members aren't all happy with the company's pivot. Some WeightWatchers members expressed concern that the company was abandoning its message of self-restraint for the easy solution of weight-loss medication. Sequence, meanwhile, prescribes weight-loss medications like Ozempic and Wegovy and helps patients afford the drugs through insurance and reimbursements.
Persons: WeightWatchers, aren't, They're, Goldman Sachs, Sima Sistani, Jenny Craig Organizations: WW, Inc, Bloomberg, Employers
July 20 (Reuters) - Canadian auto parts maker Magna International Inc (MG.TO) said on Thursday it will invest $790 million to build three new supplier facilities, two of which will be housed at Ford Motor Co's (F.N) BlueOval City campus in Tennessee. The development comes as suppliers race to meet requirements from automakers, who have been hustling to boost their electric vehicle output as demand for environmentally friendly vehicles surges. Magna's facilities will support production of Ford's second-generation electric truck, the Canadian company said in a statement. Ford in March said it plans to build up to 500,000 electric trucks a year at its BlueOval City complex under construction. A third Magna facility in Lawrenceburg will produce vehicle frames, the company said.
Persons: Ford's, Magna, Priyamvada, Nivedita Organizations: Magna International Inc, Ford Motor, Ford, Thomson Locations: BlueOval City, Tennessee, Ford's, BlueOval, Detroit, Lawrenceburg, Bengaluru
South African officials are hoping Russian President Vladimir Putin does not visit next month. "We would be happy if he doesn't come," South African Deputy President Paul Mashatile said Friday. "We would be happy if he doesn't come," South African Deputy President Paul Mashatile told the Mail & Guardian. In February, it held joint naval exercises with China and South Africa just off the latter's coast. A spokesperson for Mashatile later told the Financial Times that the South African government is "speaking to President Putin directly on the ICC problem."
Persons: Vladimir Putin, Putin, Paul Mashatile, BRICS, Mashatile Organizations: Service, Mail, Guardian, Financial Times, ICC Locations: Russian, Johannesburg, Wall, Silicon, South Africa, Brazil, Russia, India, China, United States, Europe, Ukraine, Rome
A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois
The journalist Evan Gershkovich has been in captivity in Moscow for 100 days on espionage charges. My friend Evan Gershkovich, many of you now know, was captured by the Russian government on March 29. Evan loves his friends. Evan loves the Mets, and he loves Arsenal, and he especially loves sharing those teams with people who aren't already under the spell. Natalia Kolesnikova/AFP/Getty ImagesLet's bring Evan homeFor everyone who is friends with Evan, for everyone in his orbit, he's the center of their world.
Persons: Evan Gershkovich, He's, extrovert who'd, Jeremy Berke, Evan, he'd, Gershkovich, It's, , Yevgeny Prigozhin, Berke, He'll, we'd, Natalia Kolesnikova, — who've, Let's, we've, We've, he's, I'm, Jeremy Organizations: Moscow, Morning, CNN, Wall Street, Bowdoin College —, New York Times, Russia's, Muscovites, West, Arsenal, Mets, Court, Getty, Columbia Business School Locations: Moscow, Russian, New York, Soviet Union, New Jersey, Russia, Ukraine, Brooklyn, AFP
The journalist Evan Gershkovich has been in captivity in Moscow for 100 days on espionage charges. My friend Evan Gershkovich, many of you now know, was captured by the Russian government on March 29. Evan loves his friends. Evan loves the Mets, and he loves Arsenal, and he especially loves sharing those teams with people who aren't already under the spell. Natalia Kolesnikova/AFP/Getty ImagesLet's bring Evan homeFor everyone who is friends with Evan, for everyone in his orbit, he's the center of their world.
Persons: Evan Gershkovich, He's, extrovert who'd, Jeremy Berke, Evan, he'd, Gershkovich, It's, , Yevgeny Prigozhin, Berke, He'll, we'd, Natalia Kolesnikova, — who've, Let's, we've, We've, he's, I'm, Jeremy Organizations: Moscow, Morning, CNN, Wall Street, Bowdoin College —, New York Times, Russia's, Muscovites, West, Arsenal, Mets, Court, Getty, Columbia Business School Locations: Moscow, Russian, New York, Soviet Union, New Jersey, Russia, Ukraine, Brooklyn, AFP
Maggie McCormick, office manager, 1985-1993: There were just so many moments at Paper when you knew the world was being changed. Fenton Bailey, producer, former Paper columnist: The vibe was, “Hip-hop is a fad. Dennis Dermody, film critic, 1986-2017: I got a call from David Hershkovits. He said, “Listen, we need a film critic, and I hear you go to the movies all the time. La Stampa, in Rome, put up a big article: “Scandal Rocks Disney!” Disney held a press conference to say it was just a joke.
Persons: Maggie McCormick, Fenton Bailey, Dennis Dermody, David Hershkovits, Cook, Macaulay, Christine Muhlke, , Eileen Myles, David, “ You’ve Organizations: Disney Locations: Stampa, Rome
Circor, an industrial machinery maker, said KKR had sweetened its all-cash deal from $49 to $51 per share in the wake of a rival bid of $52.65 per share in cash from an unidentified party. One of Fairbanks' subsidiaries is Hunt Valve, which competes with Circor in providing valve systems to the Navy. Arcline and KKR declined to comment. Circor said it rejected the higher offer because it concluded there was a risk of a protracted review by antitrust regulators that would jeopardize the deal. Circor shares ended at $51.49 on Tuesday, above the $51 per share deal clinched with KKR, indicating that some investors believed an even better deal was possible.
Persons: snubbing, Circor, Arcline, Gardner, Rand Inc's, Aishwarya Nair, David Carnevali, Vinay Dwivedi, Saumyadeb Chakrabarty, Leslie Adler Organizations: KKR, Co Inc, Arcline Investment Management, Fairbanks Morse Defense, U.S . Navy, Fairbanks, Hunt Valve, Circor, Navy, Representatives, Gardner Denver, Ingersoll, Lockheed Martin Corp, Rocketdyne Holdings, L3Harris Technologies, Thomson Locations: Arcline, U.S, Bengaluru, New York
KYIV, June 20 (Reuters) - Philip Morris International Inc (PM.N) will launch a new $30 million production facility in the Lviv region in western Ukraine in the first quarter of next year, the company said on Tuesday. "This investment reflects our commitment as Ukraine's long-term economic partner," Maksym Barabash, Chief Executive Officer of Philip Morris Ukraine, said in a statement. Some large multinationals that were active in Ukraine for many years have recently announced investment plans to launch production in the country's central and western regions, far from front lines. Nestlé (NESN.S) started construction in May of a 40-million Swiss franc ($42.7-million) production facility in the west of Ukraine. Philip Morris has invested over $700 million in the Ukrainian economy since the start of its operations in the country in 1994.
Persons: Philip Morris, Barabash, Philip Morris Ukraine, Olena Harmash, Timothy Heritage, Conor Humphries Organizations: Philip Morris International Inc, Gross, Unilever, Thomson Locations: Lviv, Ukraine, Kyiv, Ukrainian
That month, it announced five new agreements with multi-unit operators to condense and transfer more than 230 existing restaurants. "There is strong interest in growth opportunities with Subway from multi-unit operators," Subway said in a statement to Reuters for this story. Klein, the franchise attorney, said that since 2022, his firm examined three multi-unit Subway deals on behalf of clients interested in investing in the chain for the first time. Of the 100 largest multi-unit U.S. restaurant franchisees by revenue in 2022, none had a Subway in their portfolio, according to a ranking by Franchise Times magazine. Instead, top franchisees owned hundreds of Wendy's (WEN.O), Yum Brands' (YUM.N) Pizza Hut and Taco Bell, Restaurant Brands' Burger King, Dine Brands' (DIN.N) Applebee's and other chains.
Persons: Justin Klein, John Gordon, Klein, it's, Gordon, Burger, Alicia Miller, Hilary Russ, Matthew Lewis Organizations: YORK, Subway, Reuters, QSR Magazine, Restaurant Brands International Inc, Times, Yum Brands, Bell, Restaurant Brands, Catalyst Insight, Thomson Locations: United States, U.S, Miami, Jersey, New York, Nevada, New Mexico
KKR to take machinery maker Circor private in $1.6-bln deal
  + stars: | 2023-06-05 | by ( ) www.reuters.com   time to read: +1 min
June 5 (Reuters) - KKR & Co Inc (KKR.N) said on Monday it will buy industrial machinery maker Circor International Inc (CIR.N) in a $1.6-billion deal and take it private, as the private equity firm looks to double down on investments in the flow-control market. Flow-control products help manage and control liquids and gases using equipment or services such as pumps, valves, compressors and meters. Circor, which has about 3,100 employees, makes pump and valve systems for sectors including oil and gas, industrial, aerospace and defense. "KKR will help us expand our presence in the flow-control space," Circor's Chief Executive Officer Tony Najjar said. Evercore, J.P. Morgan Securities LLC and Ropes & Gray LLP advised Circor, while Citi and Kirkland & Ellis LLP were KKR's advisers.
Persons: Tony Najjar, Gray, Circor, Ellis, Nathan Gomes, Priyamvada, Savio D'Souza, Shinjini, Shounak Organizations: KKR, Co Inc, Circor, U.S . Department of Defense, Street Journal, Morgan Securities LLC, Ropes, Gray LLP, Citi, Kirkland, Ellis LLP, Thomson Locations: J.P, Bengaluru
CompaniesCompanies Law Firms Mondelez International Inc FollowWalmart Inc FollowMay 19 (Reuters) - A federal judge in Illinois has dismissed a lawsuit accusing Mondelez International Inc (MDLZ.O) of deceiving consumers into believing its Trident "Original Flavor" gum contained real mint. U.S. District Judge Iain Johnston said it was "fanciful" to believe reasonable consumers would expect the gum to contain mint or peppermint because its packaging featured an "unnaturally blue" leaf with condensation bubbles. "At most, Trident 'Original Flavor' packaging hints that its flavor is mint, not that its ingredients include mint or peppermint," he added. The lawsuit covered consumers in Illinois and eight other U.S. states, and accused Chicago-based Mondelez of violating various consumer protection laws. The case is Lesorgen v Mondelez International LLC, U.S. District Court, Northern District of Illinois, No.
Companies Us Fuel International Inc FollowMay 18 (Reuters) - Oil prices eased on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging in the previous session on optimism over U.S. fuel demand. The U.S. dollar held near a seven-week peak on Thursday, making oil more expensive for holders of other currencies. President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government's $31.4 trillion debt ceiling and avoid an economically catastrophic default. Also weighing on prices was the increased possibility of another interest rate hike by the U.S. Federal Reserve. The strength of April U.S. economic data, in addition to optimism about the debt ceiling negotiations and the health of regional banking stocks overnight have strengthened market expectations of a further hike, ANZ Research said in a note on Thursday.
MUNICH, May 17 (Reuters) - Electric car maker Fisker Inc (FSR.N) is exploring collaboration with other companies to scale up market share faster, Chief Executive Henrik Fisker said on Wednesday. If we collaborate with someone, you can scale quicker ... it could be with suppliers, other car companies, tech companies - we are exploring all these avenues," Fisker said, speaking at the Reuters Automotive Conference in Munich. The PEAR will have 25% fewer parts than a comparable car today, Fisker said. Instead, Fisker will build vehicles from steel, combining multiple parts into one using single stampings, he said. Fisker said eventually the company plans to have production capacity in Europe, China, the United States and India.
[1/2] A branch of First Republic Bank is seen. First Republic collapsed May 1, making it the largest bank failure since the 2008 financial crisis. The filings did not show whether Scion had sold its positions before then. The positions were revealed in quarterly securities fillings known as 13-fs. Burry was featured in the 2010 nonfiction book "The Big Short" by Michael Lewis which was made into a popular movie five years later.
[1/3] An Air France aircraft, operated with sustainable aviation fuel (SAF) produced by TotalEnergies, is refueled before its first flight from Nice to Paris at Nice airport, France, October 1, 2021. Sustainable aviation fuel, or SAF, is typically made using biomass-based feedstocks such as soybean oil and used cooking oil. Honeywell said its process can reduce greenhouse gas emissions by 88% compared with traditional petroleum-based jet fuel. SAF is typically two to four times costlier than petroleum-based jet fuel. The United States produces around 24.7 billion gallons of petroleum-based jet fuel annually.
Big U.S. firms adopt cautious tone on China recovery
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: +3 min
In April, China's imports contracted sharply, underscoring signs of weak domestic demand as a battered property market, worries over job stability and global economic uncertainty kept shoppers wary. "We grew mid-single digits in China, which had previously been a double-digit growth market for us pre-pandemic. "Consumer confidence remains weak and shaken because many Chinese faced job and salary cuts in 2022 and Chinese New Year bonuses in 2023 were low," said Shaun Rein, managing director at China Market Research Group. Still, a rapid recovery in domestic travel demand propped up sales at hotels. "China will be a growth driver for many multi-national companies but will not be at the high growth rates many analysts predict," China Market Research's Rein said.
Shares of Tempur Sealy, which said the deal was expected to be closed in the second half of 2024, were down 3% in premarket trading. Lexington, Kentucky-based Tempur Sealy will pay around $2.7 billion in cash and $1.3 billion in Tempur stock issued to Mattress Firm shareholders, the companies said. After deal closure, Mattress Firm would operate as a separate business unit within Tempur Sealy. Tempur Sealy expects the deal to add to adjusted per-share earnings before synergies in the first year post-close. Tempur Sealy, which separately reported first-quarter sales in line with Wall Street estimates, said it would also expand its board and appoint two Mattress Firm directors once the deal closes.
CNN —It’s a city at the forefront of modern culture. CNNYouTube sensation Jaejae is perhaps the best-qualified person in Seoul to help understand this phenomenon and how it has come to pass. It is here where US and South Korean forces maintain a major base and where former US President Donald Trump met with North Korean leader Kim Jong-un in 2019. Yet the worries that arise from it continue to dominate Korean life, with missile tests and the threat of war never feeling that far away. This patriotism, combined with pride in all things K-Pop, K-Drama and Newtro all go towards making Seoul a city like no other.
The buyout consortium has turned to other private equity firms to help fund the deal as direct lenders, one of the sources added. There is no certainty that Warburg Pincus and Advent will successfully complete negotiations to acquire the unit and Baxter may still opt to sell to another bidder or keep the business, according to the sources. Baxter, Warburg and Advent did not immediately respond to requests for comment. Baxter's biopharma solutions unit supports drugmakers in the formulation, development and commercialization of drugs typically given by infusion or injection, such as biologics and vaccines. The company said dialysis operations, which are a part of Baxter's renal care unit, had become a drag on its margin.
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