Business

Nestle to put focus on growth and acquisitions

Nestle is looking to boost its growth with acquisitions this year while remaining cautious and selective, its chief executive told an investor call on the food group’s full-year results on Thursday. “We do believe that in 2021 as well, we will see some good additions to our business … we will put more emphasis on […]

Business

Nestle outshines peers thanks to pet food, health products

Nestle is aiming to boost organic sales growth towards 4% this year, the food giant said on Thursday, after strong demand for pet food and health products in the Americas helped its growth outshine peers last year. Consumers have kept buying packaged food throughout the pandemic and the maker of Maggi soups and Nescafe instant […]

Business

Brainard: Fed wants maximum employment, growth that is “sustainable”

The Federal Reserve’s emerging focus on climate change won’t lessen its focus on achieving maximum employment, Fed Governor Lael Brainard said on Thursday in response to questions about whether a transition away from carbon-based fuel will kill jobs. The Fed will be focused on long-term risks of climate change but also how the transition to […]

Business

Column: OPEC+ under pressure to boost output as oil climbs towards peak

Saudi Arabia’s oil minister has called for a cautious approach to raising production, even as prices surge and many traders anticipate an increasingly severe shortage of petroleum later this year. “We are in a much better place than we were a year ago, but I must warn, once again, against complacency. The uncertainty is very […]

Business

‘A Complete Bungle’: Texas’ Energy Pride Goes Out With Cold

Anger over Texas’ power grid failing in the face of a record winter freeze continued to mount Wednesday as millions of residents in the energy capital of the U.S. remained shivering with no assurances that their electricity and heat — out since Monday in many homes — would return soon or stay on once it […]

Business

Mexico’s president says new agreement to help Pemex lower tax burden

Mexican President Andres Manuel Lopez Obrador said on Thursday that a new agreement will come into force to once again reduce the tax burden on state oil company Pemex. The loss-making oil giant has received vast financial support from Lopez Obrador’s government, which has made it a priority to clean up Pemex’s finances and turn […]

Business

Toyota investing $210 million to expand West Virginia engine production

Toyota Motor Corp said Thursday it is investing $210 million to expand engine production in West Virginia and add 100 new jobs. The Japanese automaker said it would boost capacity by 70,000 engines a year at the Buffalo, West Virginia plant, up from the nearly 1 million transmissions and engines it produces annually for vehicles […]