Category: Business

Kraft Heinz Co said on Thursday that it plans to sell its nuts business – including most Planters and Corn Nuts products – to Hormel Foods Corp for $3.35 billion, sending shares up 6%. The Chicago-based company has been trying to streamline its portfolio and focus on more accretive brands, having faced criticism for years […]

Amsterdam has displaced London as Europe’s biggest share trading centre after Britain left the European Union’s single market, and picked up a chunk of UK derivatives business along the way, according to data published on Thursday. Stock exchanges in the Dutch capital traded 9.2 billion euros ($11.15 billion) a day in January, compared to London’s […]

The U.S. Commerce Department’s Census Bureau said on Thursday it will present new data next week that will show 7.8% of the country’s workforce hold multiple jobs, a trend that has been on the rise during the past 20 years. In a statement, the Census Bureau said the data next Wednesday will also show that […]

Federal prosecutors and regulators are investigating whether “market manipulation or other types of misconduct” led to a meteoric rise in shares of companies such as GameStop and AMC, the Wall Street Journal reported on Thursday. The Justice Department’s fraud section and the San Francisco U.S. attorney’s office have sought information about the trading from brokers […]

The White House said Thursday administration officials are working to address a growing shortage of semiconductor chips that has slowed auto production around the world. White House press secretary Jen Psaki said the Biden administration is “currently identifying potential chokepoints in the supply chain and actively working alongside key stakeholders in industry and with our […]

A group of U.S. chip companies on Thursday sent a letter to President Joe Biden urging him to provide “substantial funding for incentives for semiconductor manufacturing” as part of his economic recovery and infrastructure plans. The chief executives of major U.S. firms such as Intel Corp, Qualcomm Inc, Micron Technology Inc and Advanced Micro Devices […]

Twitter Inc said on Thursday it will next week add labels to identify more state-affiliated accounts, including world leaders’ personal accounts, to give users more context for geopolitical conversations on the platform. The move comes as Twitter’s approach to prominent figures and government is under scrutiny after the high-profile ban of former U.S. President Donald […]