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UPS profit hurt by severe weather, issues disappointing outlook for second quarter; shares sink

11 hours ago DieselGasoil Comments Off on UPS profit hurt by severe weather, issues disappointing outlook for second quarter; shares sink
(Reuters) – United Parcel Service Inc said it saw signs of softening in the U.S. economy and issued a disappointing second-quarter profit forecast, sending shares down 7 percent even as it promised a strong end to the year. FILE PHOTO: Vehicles of United Parcel Service are seen at the new package sorting and delivery UPS Read More

Walmart creates Angus beef supply chain, cutting out meat processors

1 day ago DieselGasoil Comments Off on Walmart creates Angus beef supply chain, cutting out meat processors
(Reuters) – Walmart Inc is taking control of the supply chain for Angus beef sold in some of its stores, cutting out meat processors as the company looks to offer higher quality products in an intensely competitive grocery industry. FILE PHOTO: Walmart’s logo is seen outside one of the stores in Chicago, Illinois, U.S., November Read More

Walgreens, Rite Aid set minimum age to sell tobacco products at 21 years

2 days ago DieselGasoil Comments Off on Walgreens, Rite Aid set minimum age to sell tobacco products at 21 years
(Reuters) – Drugstore retailers Walgreens Boots Alliance Inc and Rite Aid Corp will no longer sell tobacco products to customers who are below 21 years old, amid a crackdown on widespread teenage tobacco use. FILE PHOTO: A sign rests on a counter at a Walgreens pharmacy store in Austin, TX, U.S., March 26, 2018. REUTERS/Mohammad Read More

P&G operating margin, grooming product sales dip on strong dollar; shares drop

2 days ago DieselGasoil Comments Off on P&G operating margin, grooming product sales dip on strong dollar; shares drop
(Reuters) – Procter & Gamble Co reported a decline in its third-quarter operating margin on Tuesday and said a strong U.S. dollar hurt sales of its grooming products, sending shares of the maker of Tide and Gillette products down as much as 3.3% in morning trading. FILE PHOTO: The logo for Procter & Gamble Co. Read More

Kraft Heinz’s new CEO looks beyond cost-cutting, big M&A

3 days ago DieselGasoil Comments Off on Kraft Heinz’s new CEO looks beyond cost-cutting, big M&A
CHICAGO (Reuters) – Kraft Heinz Co’s incoming chief executive, Miguel Patricio, is indicating a change in strategy for the packaged food company that could move it away from the aggressive cost-focused culture that has been in place since the company was created in 2015. FILE PHOTO: Commemorative items for sale are on display at the Read More

Turkey embraces Russia’s national payment system credit card Mir

7 days ago DieselGasoil Comments Off on Turkey embraces Russia’s national payment system credit card Mir
The largest banking chain in Turkey, along with the country’s 10,000 online retailers, have started accepting Russia’s Mir cards, according to the CEO of Russia’s national payment system (NSPK), Vladimir Komlev. “We would like to announce that today is a great day. Mir cards are now accepted in Turkey. Yesterday, the testing was finalized,” the Read More

Sears sues Lampert, claiming he looted assets and drove it into bankruptcy

1 week ago DieselGasoil Comments Off on Sears sues Lampert, claiming he looted assets and drove it into bankruptcy
NEW YORK (Reuters) – Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt. FILE PHOTO: A dismantled sign sits leaning outside a Sears department store one day Read More

Amazon, facing entrenched rivals, says to shut China online store

1 week ago DieselGasoil Comments Off on Amazon, facing entrenched rivals, says to shut China online store
SAN FRANCISCO/BEIJING/HONG KONG (Reuters) – Amazon.com Inc said it will shut its China online store by July 18, as the U.S. e-commerce giant focuses on the lucrative businesses of selling overseas goods and cloud services in the world’s most populous nation. The move underscores how entrenched, home-grown e-commerce rivals have made it difficult for Amazon’s Read More

U.S. labor market remains tight, economy continues to grow: Fed Beige Book

1 week ago DieselGasoil Comments Off on U.S. labor market remains tight, economy continues to grow: Fed Beige Book
WASHINGTON, (Reuters) – Labor markets remained tight across the United States as businesses struggled to find skilled workers and wages grew modestly, the Federal Reserve said on Wednesday in its latest report on the economy. FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid/File Read More

Buyout firm Apollo to buy Smart & Final Stores for $1.1 billion

1 week ago DieselGasoil Comments Off on Buyout firm Apollo to buy Smart & Final Stores for $1.1 billion
(Reuters) – Apollo Global Management LLC said on Tuesday it will acquire Smart & Final Stores Inc for about $1.1 billion, including debt, the second time the private equity firm will own the U.S. food retailer. A Smart & Final store’s sign is pictured in San Marcos, California September 24, 2014. Shares of Smart & Read More