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Ahead of his departure as Starbucks executive chairman next week, Howard Schultz told CNBC Friday the company’s stock is “cheap and undervalued.” Shares of the company were up more than 1 percent in early trading Friday. The stock is down more than 11 percent this year as Starbucks struggles to recover from weak same-store sales
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Conagra Brands has approached Pinnacle Foods about a potential acquisition, sources familiar with the situation told CNBC on Thursday. A pairing of Healthy Choice-owner Conagra and Bird’s Eye-owner Pinnacle would combine two companies with a large presence in frozen foods at a time when the category is seeing a resurgence. Food companies, including Conagra, have
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Tesla is suing a former employee for allegedly illegally exporting gigabytes of confidential data, according to a lawsuit filed Wednesday in Nevada. The electric car maker said it is only beginning to understand all of former process technician Martin Tripp’s allegedly illegal activity. The suit said, Tripp “has thus far admitted to writing software that
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It also extends a broader Trump administration pattern of stepping back from international agreements and forums under the president’s “America First” policy. Since taking office, the administration has announced its withdrawal from the Paris climate accord, the U.N. educational and cultural organization and the Iran nuclear deal. Other contentious moves have included slapping tariffs on
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Giulia Marchi | Bloomberg | Getty Images Signage is displayed at the ZTE headquarters in Shenzhen, China, on Monday, June 4, 2018. The Senate easily passed a military funding bill that would reimpose sanctions on Chinese telecommunications company ZTE, challenging a controversial deal negotiated by the Trump administration to save the company from possible bankruptcy.
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U.S. online survey company SurveyMonkey on Monday said it had confidentially registered for an initial public offering with the Securities and Exchange Commission, through its parent SVMK. The number of shares to be offered and the price range for the proposed offering have not yet been determined, the company said. In May, sources told Reuters
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Getty Images Lufthansa airplanes at waiting position on the first of a two-day strike at Frankfurt Airport on November 23, 2016 in Frankfurt, Germany. Lufthansa is in contact with Norwegian Air Shuttle, also the subject of bid interest from British Airways owner IAG, the German group’s chief executive told a German daily, sending Norwegian’s shares
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Taiwanese electronics manufacturer Foxconn said it would establish its North American corporate headquarters in Milwaukee, Wisconsin, following the purchase of a building in the city’s downtown area. In a statement, Foxconn said more than 500 people would work at the seven-story building in downtown Milwaukee. The announcement comes almost a year after the company disclosed
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“This is very worrisome for American agriculture generally,” said Dan Glickman, who served during the Clinton administration as agriculture secretary. “The business model of agriculture is an export business model, particularly for the program crops such as wheat, corn, cotton, rice and especially soybeans.” Glickman also said there could be fallout for GOP lawmakers from
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A company run by former officials at Cambridge Analytica, the political consulting firm brought down by a scandal over how it obtained Facebook users’ private data, has quietly been working for President Donald Trump‘s 2020 re-election effort, The Associated Press has learned. The AP confirmed that at least four former Cambridge Analytica employees are affiliated
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Dreschler said the car industry is particularly vulnerable because of its “just in time” production method. This is a manufacturing technique developed originally by Japanese firm Toyota that allows assembly lines to receive raw materials and components as required by production schedules. Dreschler warned that manufacturers, especially auto firms, will lose this flexibility as cross-border
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