Business | GlobalPost

Campbell Soup buying Plum Organics in push into faster-growing categories

The Canadian PressMay 23, 2013 17:45

NEW YORK, N.Y. - Campbell Soup says it's buying Plum Organics, which makes food for babies and kids, for an undisclosed amount as it looks to move into faster-growing categories. The company, based in Camden, N.J., had been struggling to increase sales of its canned soups in recent years as people increasingly look for foods with a fresher feel. To diversity its portfolio, Campbell also recently purchased Bolthouse Farms, which makes premium juices and salad dressings.

Maine Medicaid expansion passes but governor sets veto

Thomson ReutersMay 23, 2013 17:32

By Dave Sherwood BOWDOINHAM, Maine (Reuters) - Maine's Democratic-controlled legislature on Thursday passed a bill to expand access to its Medicaid program as outlined by the Affordable Care Act, setting up a showdown with the state's Republican governor, who immediately began veto procedures. At issue is lawmakers' effort to link expanded access to the health insurance program for low-income residents to a plan to pay the state's share of $484 million in debt owed to Maine's hospitals.

Sushi's Abenomics wave: posh tuna in, plain mackerel out

Thomson ReutersMay 23, 2013 17:31

By Taiga Uranaka TOKYO (Reuters) - Investors in Japan might keep a close eye on sales of the homely horse mackerel as an early warning of any trouble ahead. The good news is that in the more confident Japan of 2013, tuna remains king. So says Mizuho Securities economist Kenta Ishizu, who believes he has found a leading indicator of Japanese consumer demand that relies on two of the most common items on a sushi menu: Japanese horse mackerel and tuna.

Denner added as nominee to Vivus board by activist investor

Thomson ReutersMay 23, 2013 17:31

By Bill Berkrot (Reuters) - First Manhattan Company (FMC) added some heavyweight muscle on Thursday to its bid to shake up the board of drugmaker Vivus Inc <VVUS.O> by naming former Carl Icahn top lieutenant Alex Denner and two others to its slate of proposed nominees. Vivus shares rose as much as 11 percent after First Manhattan, which has nearly a 10 percent stake in Vivus, expanded its slate of proposed directors from six to nine, including Denner.

Sears losses mount, weighs sale of unit to shore up liquidity

Thomson ReutersMay 23, 2013 17:31

By Siddharth Cavale (Reuters) - U.S. retailer Sears Holdings <SHLD.O> cast bigger doubts on the progress of its turnaround after reporting a bigger-than-expected quarterly loss, hurt by cooler spring weather. Shares of the company, which also said it was considering selling its service contracts business, fell 12 percent to $51.41 in heavy trading after the bell.

Proxy advisory firm settles SEC charges over data breach

Thomson ReutersMay 23, 2013 17:31

By Sarah N. Lynch WASHINGTON (Reuters) - Institutional Shareholder Services has settled civil charges by U.S. regulators that an employee of the prominent proxy advisory firm shared nonpublic voting data in exchange for meals and concert tickets. The Securities and Exchange Commission said on Thursday that ISS, a unit of MSCI Inc, will pay a $300,000 penalty and hire an independent compliance consultant.

Obama releases rules for US drone strikes

Agence France-PresseMay 23, 2013 17:17

President Barack Obama announced Thursday he signed new policy guidance outlining when the United States can use "lethal force" to kill terror suspects abroad. Here are the main points of the policy guidelines, released by the White House, regulating the drone bombing raids -- which until now have been carried out secretly by the Central Intelligence Agency in Pakistan, Yemen and Somalia.

Islamist bombers kill 20 in Niger attacks, seize hostages

Agence France-PresseMay 23, 2013 17:17

Islamist militants staged twin suicide car bombings on an army base and a French-run uranium mine in Niger on Thursday, killing at least 20 people and taking several trainee officers hostage in the impoverished west African state. An Islamist group claimed the attacks as revenge against the country's involvement in France's offensive against militants in neighbouring Mali. They come just four months after Al-Qaeda linked militants seized a desert gas plant in neighbouring Algeria in a siege that left 38 hostages dead, also in retaliation against the intervention in Mali.

Genivar says ethical lapses have hurt employee morale; unveils growth plan

The Canadian PressMay 23, 2013 17:01

MONTREAL - Genivar has unveiled a strategic plan to more than double its size even as the big consulting engineering firm acknowledged that ethical lapses have undermined employee morale. "Unfortunately, we can't change the past but we can learn and come out of it stronger," CEO Pierre Shoiry told shareholders Thursday at the company's annual meeting. He urged employees, particularly the 2,200 workers in Quebec to "keep their heads high."

Snapple co-founder Leonard Marsh who went from window washer to beverage CEO, dies at age 80

The Canadian PressMay 23, 2013 16:33

Leonard Marsh, the co-founder of the Snapple beverage brand, has died at age 80. The Dr. Pepper Snapple Group Inc. of Plano, Texas, which now owns Snapple, on Thursday confirmed Marsh's death. He died Tuesday at his home in Manhasset, N.Y., The New York Times reported. Snapple began in New York in 1972 as Unadulterated Food Products, which sold natural fruit juices to health food stores. Marsh, a window washer who would later serve as CEO of Snapple, launched the business on the side with his brother-in-law Hyman Golden and childhood friend Arnold Greenberg.