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Nestle said Tuesday it has agreed to sell its US candy business to Italy’s Ferrero for CHF 2.7 billion ($2.8 billion/P143 billion) in cash as the Swiss food giant shakes up its product portfolio.
All the 14 designs of Rs 10 coin are valid and legal tender for transactions, the Reserve Bank said, amid reluctance by certain traders to accept the coins. "It has come to the notice of the Reserve Bank that in certain places there is reluctance on part of traders and members of public to accept Rs 10 coins due to suspicion about their genuineness," the RBI said while reiterating legal tender status of the coins of different designs. (15-1)
Tata Sons, the holding company of the Tata group, is looking to raise up to $1.5 billion in external commercial borrowing (ECB) in the next few weeks, sources told Mint. It plans to use the funds partly to subscribe to the forthcoming rights issue of Tata Steel and also repay a part of the outstanding debt of Tata Teleservices (TTSL), which is in the process of merging with Bharti Airtel, sources said. (15-0)
Chennai-based value investor Dolly Khanna made a couple of changes in her portfolio during the December quarter. She reduced stake in 10 companies and increased in three others, which include GNFC, IFB Agro Industries and Rain Industries. Khanna has been investing in the domestic stock market since 1996 and her portfolio is entirely managed by her husband Rajiv Khanna. (4-0)
More than seven out of 10 children in the age group of 14-18 years can use a cellphone, but cannot read basic text fluently in their language, says the Annual Status of Education Report (ASER). The report also says that females have reduced access to cellphones. While only 12% males have never used a cellphone, the corresponding number of females is much higher at 22%, it says. (4-0)
Deutsche Bank AG is in early talks to sell its retail operations in India, part of a previously announced plan to raise money through asset sales, sources told Bloomberg. The discussions, with Mumbai-based IndusInd Bank, are not exclusive and a decision isn’t imminent, sources said. A sale of the operations isn’t certain, sources added. (6-0)
Days before Budget 2018, GST Council set to cut rates on 70-80 items; simpler rules and procedures on anvil
A "super Mercedes" parade car built for and used by Adolf Hitler during World War II is to be sold at auction on Wednesday, reports CNBC. The Nazi dictator's Mercedes-Benz 770 Grosser Offener Tourenwagen, which the US Army seized after the war, is one of just three in private hands. Only five models remain in existence. The German car is described by Worldwide Auctioneers, which will be selling it in Scottsdale, Arizona, as "the most historically significant automobile ever offered for public sale.
(ANSA) - Turin, January 16 - Italian confectionery giant Ferrero on Tuesday bought the US sweets business of Swiss-based multinational Nestlé for $2.8 billion in cash. In 2016 Nestle's US operations generated a turnover of around $900 million. Nutella maker Ferrero will get more than 20 historic American brands, including iconic chocolate brands including Butterfinger, BabyRuth, 100Grand, Raisinets and Wonka.
(ANSA) - Turin, January 16 - Italian confectionery giant Ferrero on Tuesday bought the US sweets business of Swiss-based multinational Nestlé for $2.8 billion in cash. In 2016 Nestle's US operations generated a turnover of around $900 million. Ferrero will get more than 20 historic American brands, including iconic chocolate brands including Butterfinger, BabyRuth, 100Grand, Raisinets and Wonka. It will also get exclusive rights on the Crunch brand in the US as well as on candy brands SweeTarts, LaffyTaffy and Nerds.
GENEVA: Nestle said on Tuesday (Jan 16) it has agreed to sell its US candy business to Italy's Ferrero for CHF 2.8 billion (US$2.9 billion) in cash as the Swiss food giant shakes up its product portfolio.
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. (14-0)
Pinterest has been taking over the internet for the past couple of years and it’s probably going to stay that way for a while. YouTubers have made videos trying Pinterest hacks or dupes to see if they work. Refinery29 even came out with an article on 2018 trends according to Pinterest. If you’re not sure how you can use Pinterest boards in your everyday life, we’ve listed some possibilities for you to try.
* The U.S. Federal Trade Commission has cleared the acquisition of Illinois-based Ferrara Candy Co by Italian confectionary group Ferrero, the regulator said in its website.
Nestlé SA put its U.S. confectionery business up for sale, looking to shed its Butterfinger and Crunch candy bars as it grapples with how to cater to U.S. consumers' increasing demand for healthy snacks. (16-0)