General Mills cut its annual sales forecast on Wednesday, hurt by slowing demand for its higher-priced breakfast cereals, snack bars and pet food products.
The interest rate on the most common type of U.S. home mortgage dropped last week to 6.83%, its lowest since June, as the Federal Reserve signaled it is done raising borrowing costs and will turn to cutting them next year.
Nestle sees no threat to its huge coffee business from the rising popularity of weight-loss drugs like Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy, Chief Executive Mark Schneider said on Wednesday.
U.S. stock index futures inched lower on Wednesday as investors took a breather from a rally that was sparked by the Federal Reserve’s likely pivot to a dovish policy, while FedEx tumbled after issuing a grim outlook.
Italian fashion house Prada has paid $425 million to buy the building on Fifth Avenue in New York which currently hosts its store, the company said on Wednesday.
American car dealers are set to wrap the year with generous incentives and discounts during winter sales, aiming to clear older vehicle stocks and prepare for the new year capitalizing on sustained demand from consumers.
Management consulting firm Aon said on Wednesday it will buy insurance broker NFP in a deal valued at $13.4 billion to expand in the fast-growing middle-market segment across risk, benefits, wealth and retirement plan advisory.
A Russian court fined Alphabet’s Google on Wednesday 4.6 billion roubles ($50.84 million) for failing to delete so-called “fake” information about the conflict in Ukraine and other topics, the TASS news agency reported.
Heading into 2024, analysts say the U.S. recession they’d been forecasting for two years isn’t coming anymore. Everyone else, from companies to investors, is still bracing for a slowdown caused by tepid consumer demand.
