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Kellogg’s To Buy Pringles For $2.7 Billion

BATTLE CREEK, Mich., Feb. 15 (UPI) — U.S. corporate giant Procter & Gamble said Wednesday it has agreed to sell it snacks business to Kellogg Co. for $2.7 billion. The deal will shift ownership of Pringles, the iconic potato chip that comes in a tube, to the makers of Kellogg’s Corn Flakes and other well-known […]

CitiMortgage To Pay $158.3 Million Penalty

NEW YORK, Feb. 15 (UPI) — CitiMortgage Inc. has agreed to pay $158.3 million to settle charges it failed to meet U.S. quality standards with mortgages insured by the government. “For far too long, lenders treated (the Department of Housing and Urban Development) insurance of their mortgages like they were playing with house money. In […]

Retail Rose In January

WASHINGTON, Feb. 14 (UPI) — Retail sales rose 0.4 percent in January over December, with auto sales down 1.1 percent and gasoline sales up 1.4 percent, the U.S. Census Bureau said Tuesday. Retail sales, including food service sales, adjusted for seasonal variations but not for prices rose to $401.4 billion on January sales that were […]

Import Prices Rose In January

WASHINGTON, Feb. 14 (UPI) — U.S. import prices rose 0.3 percent in January following a 0.1 percent downturn in the previous month, the Department of Labor said Tuesday. The increase was triggered by gains in both fuel and non-fuel items, the department said. Prices for fuel imports for the month rose 1 percent, while non-fuel […]

Business Inventories Rose In December

WASHINGTON, Feb. 14 (UPI) — Manufacturing and trade business inventories rose 0.4 percent in December, just shy of the consensus forecast, the U.S. Commerce Department said Tuesday. Economists had expected a 0.5 percent rise from the previous month. Inventories rose to $1.55 trillion, an 7.7 percent increase from a year earlier. Trade sales and manufacturers’ […]

Moody’s Warns France And Britain

PARIS, Feb. 14 (UPI) — Moody’s Investor’s Service warned France Tuesday that its credit rating could be lowered if the debt problem spreading through Europe is not contained. The fear of the debt issue spreading further and deeper in the region has already resulted in repeated downgrades of credit scored across Europe. France, however, has […]

Sales Drop Week To Week

WASHINGTON, Feb. 14 (UPI) — U.S. sales receipts fell sharply in the week ending Friday as a trade group said low volumes of sales can produce more volatile swings than high volumes. Sales for the week ending Saturday “tumbled by 2 percent,” the International Council of Shopping Centers said in their weekly sales tracking report. […]

Firm Warns Of Workplace Anger

CHICAGO, Feb. 11 (UPI) — Outplacement firm Challenger, Gray & Christmas warned that U.S. companies could be packed with angry workers this Valentine’s Day season. “Now we’re getting into a point in the economy where companies are going to start hiring soon,” explained the firm’s spokesman James Pedderson. “So now we’re starting to get to […]

Grand Jury Handed Evidence On Avon

NEW YORK, Feb. 13 (UPI) — U.S. prosecutors have handed a grand jury evidence on Avon Products Inc.’s alleged bribery of Chinese officials, sources told The Wall Street Journal. Allegedly, Avon bribed Chinese officials while seeking a permission to do sales door-to-door in China. Some of these payments were even listed as gifts on company […]

Detroit Not Jumping On Garage Sale Option

DETROIT, Feb. 13 (UPI) — Detroit Mayor Dave Bing’s Chief of Staff Kirk Lewis said the mayor has no plans to sell city assets, which could quickly relieve the city’s cash crunch. “There is no component of the mayor’s deficit plan that currently includes the selling of city assets,” said Kirk Lewis, Bing’s chief of […]

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