Archive for the ‘Business Articles’ Category

With Pringles, Kellogg looks to expand overseas

Posted by Brock Brooke on February 11, 2012. - No Comments

Kellogg is hoping Pringles will satisfy its craving for a salty snack.

The food giant is best known for its lineup of sweet breakfast items, including Frosted Flakes and Eggo frozen waffles. But on Wednesday, it became the world’s second-biggest savory snack maker behind PepsiCo Inc.’s Frito-Lay with a $2.7 billion deal to buy the potato snack brand from Procter & Gamble.

The addition of Pringles bolsters Kellogg Co.’s cupboard of salty snacks such as Cheez-It and Keebler’s Club crackers. It also positions the company to expand at a time when the appetite for on-the-go foods is growing worldwide, particularly in emerging markets like China and India.

“When you have people moving to the cities and becoming urbanized, they’re less likely to eat foods they grow themselves,” said Tom Graves, an analyst for Standard & Poor’s who follows Kellogg.

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Tags: Kellogg, Kellogg Looks

Dow opens near post-crisis peak but ends lower

Posted by Brock Brooke on February 5, 2012. - No Comments

A brief morning rally Thursday pushed the Dow Jones industrial average above its highest close since the financial crisis of 2008, but disappointing economic data tempered traders’ optimism later in the day, and stocks finished lower.

Solid news on factory orders and strong earnings from U.S. manufacturers, highlighting one of the economy’s bright spots, helped the market open higher. The Dow rose 85 points.

But the Dow and broader indexes turned negative after weaker reports on home sales and future economic growth were released in the late morning.

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Tags: Dow, Dow Opens

More workers moving for out-of-state jobs

Posted by Brock Brooke on January 25, 2012. - No Comments

A modestly growing number of Americans are moving out of state to get a job, a development that could cut unemployment and better match workers with positions, staffing officials and reports say.

Since the recession began four years ago, many Americans, including the unemployed, have been unable to move because they can’t sell homes that have fallen in value and are worth less than their mortgages. And employers have been reluctant to pay relocation costs in an era of tighter corporate budgets.

A lack of mobility helps keep unemployment high, since laid-off factory workers in Indiana, for example, can’t seek open jobs in North Dakota oil fields. In a Manpower survey last year, 26% of U.S. workers said the recession made them more willing to move, vs. 19% who were less willing.

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Tags: Moving, Moving Outofstate

Italian cruise ship tally: 11 dead, 21 missing

Posted by Brock Brooke on January 17, 2012. - No Comments

The first victim from the Costa Concordia disaster was identified Wednesday _ a 38-year-old violinist from Hungary who had been working as an entertainer on the stricken cruise ship.

Sandor Feher’s body was found inside the wreck and identified by his mother, who had traveled to the Italian city of Grosseto, according to Hungary’s foreign ministry.

The $450 million Costa Concordia cruise ship was carrying more than 4,200 passengers and crew when it slammed into a reef and flopped on its side Friday off the tiny Italian island of Giglio after the captain made an unauthorized detour on his route.

Eleven people have been confirmed dead so far, but the number of missing dropped to 21 Wednesday after a German passenger who was listed as missing was found alive back in Germany, the Grosseto prefect’s office reported.

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Tags: Cruise Ship, Ship

World’s central banks act to ease market strains

Posted by Brock Brooke on January 6, 2012. - No Comments
FRANKFURT, Germany (AP) – The central banks of the wealthiest countries, trying to prevent a debt crisis in Europe from exploding into a global panic, swept in Wednesday to shore up the world financial system by making it easier for banks to borrow American dollars.

Stock markets around the world roared their approval. The Dow Jones industrial average shot up more than 400 points. The stock market rose more than 5 percent in Germany and more than 4 percent in France.

The action represented the most extraordinary coordinated effort by the central banks since they cut interest rates together in October 2008, at the depths of the financial crisis.

While it should ease borrowing for banks, it does little to solve the underlying problem of mountains of government debt in Europe, leaving markets still waiting for a permanent fix.

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Tags: Banks, Central Banks

Lowe’s officials and Muslim leader meet

Posted by Brock Brooke on December 30, 2011. - No Comments

A representative from the Islamic Center of Charlotte met with officials from Mooresville-based Lowe’s Inc. on Tuesday to discuss the company’s decision to pull ads from the TV show “All-American Muslim.”

Jibril Hough of the Islamic Center and Chris Ahearn, a vice president of Lowe’s, said the meeting helped both sides understand each others’ position more clearly. They also agreed to keep in touch about any future issues.

“I was fairly pleased,” Hough told the Observer afterward. “I’ve got commitments from them that if anything like this comes up again, the lines of communication are open.”

Ahearn agreed.

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Tags: Officials, Officials Muslim
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