Chocolate makers like Hershey and Mondelez face tougher trading conditions over the next year as they attempt to pass on soaring cocoa costs to cash-strapped consumers who are cutting back.
Allianz Global Investors, the insurance company’s money management division, is pushing ahead with plans to raise at least 1.5 billion euros ($1.63 billion) for a new global private credit fund, a spokesperson said, as investors boost exposure to the asset class.
Estee Lauder projected annual net sales and profit below estimates on Friday, signaling a slower-than-expected recovery in its travel retail business, mainly in Asia, and easing demand in the United States, sending its shares down about 5% in premarket trade.
Embattled developer China Evergrande Group has filed for U.S. bankruptcy protection as part of one of the world’s biggest debt restructurings, as anxiety grows over China’s worsening property crisis and its impact on the weakening economy.
Hawaiian Electric Industries is seeking expert advice amid growing scrutiny over its role in the Maui wildfires, but the largest power supplier in the US island state said on Friday that the goal was not to restructure the company.
Xpeng , on Friday forecast third-quarter revenue below analysts’ expectations and reported a hit to margins following an inventory writedown, sending its U.S.-listed shares down 7% before the bell.
Australia’s wine industry faces severe oversupply problems that will need years to resolve, experts say, pointing to Chinese tariffs, high production and export bottlenecks during the COVID-19 pandemic.
WeWork said on Friday it would proceed with a one-for-forty reverse stock split of its outstanding class A and class C common stock, in order to regain compliance with the New York Stock Exchange’s listing norms.
Activision Blizzard Inc and Kellogg Co have joined a growing list of major U.S. companies to face claims from a group founded by former Trump administration officials that efforts to diversify their workforces amount to illegal discrimination.
