Tag Archives: business

14 Tons Of Sausage Recalled Over Metal Pieces

USA Today reports: The maker of Jimmy Dean Heat ’n Serve Original Sausage Links is recalling more than 14 tons of its frozen, ready-to-eat sausage links because they may have pieces of metal inside. CTI Foods of Owingsville, Kentucky, is recalling about 29,028 pounds of Jimmy Dean Heat ‘n Serve Original Sausage Links Made with Pork & Turkey after the …

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Nissan Chairman Carlos Ghosn Fired And Arrested

USA Today reports: Japanese automaker Nissan Motor Co.’s influential chairman Carlos Ghosn was fired and arrested Monday after an internal probe found he underreported his salary and for other financial violations, including the personal use of company assets, the firm and Japanese state media said. Nissan said in a statement that Ghosn would be dismissed after an internal probe based …

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Petco Bans Pet Food With Artificial Ingredients

Forbes reports: Today Petco announces it will stop selling pet food and treats containing artificial colors, flavors and preservatives. After May 2019 customers will no longer find brands containing such ingredients on their shelves. More than 40 artificial ingredients are on its banned list. The private San Diego-based company is rated #100 in Forbes’ America’s Largest Private Company list with …

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56 Major Companies Denounce Trump On Trans Rights: Apple, Amazon, Coca-Cola, Google, Microsoft, More

From the site Business For Trans Equality: We, the undersigned businesses, stand with the millions of people in America who identify as transgender, gender non-binary, or intersex, and call for all such people to be treated with the respect and dignity everyone deserves. We oppose any administrative and legislative efforts to erase transgender protections through reinterpretation of existing laws and …

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Tim Cook: Being Gay Is God’s Greatest Gift To Me

CNN Money reports: Four years ago, Tim Cook became the first CEO of a major company to come out as gay. He says he’s happy about that distinction — and his decision. “I’m very proud of it,” the Apple CEO told Christiane Amanpour on Wednesday in an exclusive interview for her program on CNN International and PBS. Being gay is …

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Nation’s Largest Mattress Retailer Declares Bankruptcy

The Associated Press reports: Mattress Firm, Inc., the nation’s largest mattress retailer, filed for bankruptcy protection on Friday, saying its rapid expansion of stores in recent years — with locations often very close to each other — resulted in “cannibalization” of sales. The Houston-based company filed for Chapter 11 bankruptcy protection in federal court in Delaware, saying it plans to …

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The End Looms For Sears, Now A Penny Stock

CNN Money reports: In the latest indignity for a once-grand retailer, the share price fell below $1 on Friday for the first time in the company’s history, dropping as much as 15% to 85 cents in midday trading. Falling into loose-change territory is more than embarrassing. Nasdaq, the exchange where Sears stock trades, could delist the company. Shares of Sears …

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Dunkin’ Donuts To Drop “Donuts” From Name

CNN Money reports: Starting in January, Dunkin’ Donuts will drop the “Donuts” from ads, packages and signage at new and remodeled stores, as well as its social media accounts. The makeover is part of Dunkin’ Brand’s efforts to relabel itself as a “beverage-led” company that focuses on coffees, teas, speedy service and to-go food including -— but not limited to …

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Luxury Chain Henri Bendel To Close All Stores [VIDEO]

Fortune Magazine reports: After 123 years in business, department store Henri Bendel is closing up shop for good after the holiday season. Known for its brown-and-white-striped bags, Henri Bendel was founded in 1895 by its namesake, a designer from Louisiana. When L Brands acquired Henri Bendel in 1985, it was by far the most luxury holding in its portfolio of …

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Buy At The Bottom, Sell At The Top: Grindr Goes Public

The South China Morning Post reports: Grindr, the gay dating app owned by Chinese gaming company Kunlun Group, has received approval from its parent’s executive board for an overseas public listing. The timing of the listing is dependent on conditions in the international capital market and progress of approval from domestic and overseas regulators, Kunlun said in a public filing …

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Amazon To Launch Free Ad-Supported Video Service

Ad Week reports: Amazon.com has an ad-supported TV service in the works that would be free to those who use the company’s Fire TV streaming devices. The service is reportedly being developed by the Internet Movie Database (IMDb), which Amazon acquired in 1998. It will be called “Free Dive.” Sources told us that Amazon is talking with major TV studios …

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Sears To Shutter Dozens More Stores In November

Bloomberg reports: Sears Holdings Corp. continues to clean house, announcing plans to shutter an additional 46 unprofitable stores in November. The struggling chain informed workers at the impacted stores this week, and liquidation sales will begin as early as Aug. 30. The move is “part of our ongoing efforts to streamline Sears Holdings’ operations, strengthen our capital position and focus …

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PETA Prompts Animal Crackers Box Redesign [VIDEO]

The Associated Press reports: After more than a century behind bars, the beasts on boxes of animal crackers are roaming free. Mondelez International, the parent company of Nabisco, has redesigned the packaging of its Barnum’s Animals crackers in response to pressure from PETA, which has been protesting the use of animals in circuses for more than 30 years. Mondelez agreed …

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Bikers To Boycott Harley-Davidson Because Trump

The New York Times reports: Gary Rathbun rumbled into South Dakota to attend the United States’ pre-eminent gathering of motorcycle enthusiasts atop his Harley-Davidson, a 2009 Ultra Classic that brought him 800 miles from Idaho. It is the 40th Harley he has owned. It will also likely be his last. Like many of Harley’s most loyal customers, Mr. Rathbun was …

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Brookstone To Shutter All 101 Of Its Mall Stores

The death of physical retail grinds on: Brookstone, the ubiquitous seller of cool but largely unneeded things, has filed for Chapter 11 bankruptcy protection again and will close the 101 of its stores that are located in malls. Malls have suffered for years due to far-reaching shifts in the way that Americans shop for just about everything, which has diminished …

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CEOs Reap Millions From Trump’s New Tax Law

Politico reports: Some of the biggest winners from President Donald Trump’s new tax law are corporate executives who have reaped gains as their companies buy back a record amount of stock, a practice that rewards shareholders by boosting the value of existing shares. A POLITICO review of data disclosed in SEC filings shows the executives, who often receive most of …

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Cash-Strapped MoviePass May Be On Its Last Legs

Bay Area News Group reports: Is the end near for MoviePass, the popular subscription movie-going service with more than 3 million subscribers? MoviePass experienced “technical difficulties” that prevented many subscribers from using the service Thursday, with its Twitter account saying it was related to its “card-based check-in process.” But the real reason for the technical difficulties? MoviePass ran out of …

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Papa John’s Founder Sues Papa John’s After Ouster

Reuters reports: John Schnatter, the founder and ousted former chairman of Papa John’s International Inc, on Thursday sued the pizzeria chain, complaining that the company had not provided adequate response to an earlier request for internal documents. The complaint, Schnatter v. Papa Johns International Inc filed in Delaware Chancery Court, comes after a request by Schnatter and his attorneys access …

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Top Health Care CEOs Together Earned $1.7B In 2017

Axios reports: The 64 health care CEOs in the S&P 500 cumulatively made almost $1.7 billion in 2017, according to a new Axios analysis of their compensation. That total is 74% higher than the $949 million that is normally highlighted in company proxy documents. Within the compensation totals, Axios’ Bob Herman calculated the actual realized gains of CEOs’ stock options …

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Mike Pence’s Hometown Hit Hard By Trump’s Tariffs

The Washington Post reports: According to the Brookings Institution, the Columbus, Indiana area is the most export-reliant region in the country, with just over half of its economic output linked to foreign purchases. “I’m very worried,” said Tom Linebarger, the chief executive of Cummins, who met with President Trump over dinner at the White House in January in a bid …

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