Business Archives - Page 463 of 478

Bud…Weis…Mill…Er?

Staff - September 17, 2015

Despite the aggressive posture of AB InBev and the venture capital group 3G Capital run by Lemann, the potential transaction will face a mountain of obstacles even if SAB Miller is a willing partner. AB InBev currently controls nearly half of the U.S. beer market with SAB Miller controlling nearly 30 percent. All major corporate mergers must face a Justice Department antitrust review. Diana Moss, the president of the American Antitrust Institute says “The competitive harm is pretty scary. The concern is higher prices for consumers.”

FDA Pulls Four R.J. Reynolds Cigarette Brands from Market

Staff - September 16, 2015

The FDA cited various reasons for the violations in its press release. As an example, the agency cited that the filter on the Camel Crush Bold cigarettes contain a capsule that when crushed, releases additional menthol flavoring. The agency found that the feature creates a significant difference from products that existed prior to the law. The Campaign for Tobacco-Free Kids president Matthew Myers praised the decision, believing that the Camel Crush cigarettes “deliver menthol differently and at higher levels, have added sugars and other sweeteners, new filters, and tested differently for harmful and potentially harmful constituents.” According to Myers, Camel is the most popular cigarette brand among young smokers.

Car Manufacturers Agree to Make Automatic-Braking a Standard Feature

Staff - September 14, 2015

A recent IIHS study estimates that injury claims could be reduced by as much as 35 percent by implementing the technology. A comparative study of Volvo insurance claims found that property damage claims involving vehicles with automatic-braking systems were 15 percent lower than vehicles without the systems. IIHS president Adam Lund said about automatic-braking systems, “Most crashes involve driver error. This technology can compensate for the mistakes every driver makes because the systems are always on alert.”

DOJ, Appellate Court Debate “Lenient” Iran-Trading Settlement

Staff - September 14, 2015

Fokker had admitted to have violated the International Emergency Economic Powers Act between 2005 and 2010 by trading aircraft parts and other components to Iran, Burma (now Myanmar), and the Sudan, in violation of U.S. sanctions. The division, Fokker Services, voluntarily admitted the violations during the Department of Justice’s (DOJ) four-year probe in the matter, agreeing to forfeit $10.5 million in proceeds and pay a $10.5 million penalty as part of an 18-month deferred prosecution agreement.

The Pork Rind Factory Recalls over 18,000 Lbs. of Pork due to Allergen Mislabeling

Staff - September 11, 2015

The U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced on Thursday that the recall is due to the products containing milk and soy, which are possible allergens, without providing that information on the product label.

XPO Logistics to Buy Con-Way for $3 Billion

Staff - September 10, 2015

Although the acquisition had been expected to easily pass a Federal Trade Commission (FTC) antitrust regulatory review, Morningstar has reported that New York-based firm Faruqi & Faruqi is investigating Con-Way’s board over alleged violation of fiduciary duties for selling the company at the $47.60 share price, that number is down from the stock’s 52-week high of $59.00. It remains to be seen if the inquiry will halt the deal’s approval. XPO expects the purchase to be completed by October.

Staples-Office Depot Merger under Further Review

Staff - September 9, 2015

The combined company would merely be a major competitor in the entire office-supply business. Still, the FTC is concerned that by combining the companies, the number of potential large-scale suppliers will decrease. The agency is concerned if the merger will lead to negative changes in the large-scale client sector. Royal Bank of Canada’s head of global procurement Peter Conrod likely summarizes the FTC’s internal debate with his divided opinion. Conrod told the Wall Street Journal, “Typically consolidation is good because it allows us to deal with fewer suppliers, but you get to a point where it’s too consolidated and you don’t have too much choice.”

Goldman Sachs Scores Rare Victory in Class-Action Dismissal

Staff - September 9, 2015

In 2010, the U.S. Senate’s Permanent Subcommittee on Investigations chair Carl Levin (D-MI), flagged the investments known as the Hudson Mezzanine funding deals, accusing Goldman Sachs of betting against its own clients during the MBS meltdown in 2008.

AutoNation CEO: ‘Company will not Sell Recalled Vehicles’

Staff - September 8, 2015

In an industry that set a record for recalls in 2014, and with over 34.5 million vehicles recalled by the end of July, 2015, Jackson believes that dealers should take a more active role in protecting consumers. The CEO said, “If every time a vehicle, new or used, moves through the franchised automotive retail system, every recall is completed, then the completion rate on recalls in total, both how fast they get done and the percentage that get done, will increase significantly.”

Petition to FAA Calls for Seat-Shrinkage Pushback

Staff - September 7, 2015

sent a petition containing the names of over 30,000 flyers to the Federal Aviation Administration (FAA) chief Michael Huerta calling for set limits for airline seating.

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