Plant-based meat alternatives crowd U.S. grocery stores
Plant-based meat alternatives have seen booming interest from consumers, prompting a growing number of companies to enter the space in hopes of carving out a spot for their products in the competitive supermarket aisle.
Source: Reuters Business News
Disney streaming service to launch in Canada, Netherlands in November
Walt Disney Co said on Monday it will launch its Disney+ video streaming service in Canada and the Netherlands on Nov. 12, the same date as its previously announced United States launch.
Source: Reuters Business News
Factbox: Disney to take on Netflix as streaming war heats up
The crowded market for video streaming, currently dominated by Netflix Inc, is expected to heat up further as Walt Disney Co rolls out its Disney+ service on Nov. 12 in the United States, Canada and the Netherlands.
Source: Reuters Business News
General Electric adds to defense against charges of bogus accounting
General Electric Co intensified its defense of its accounting practices on Monday after investors questioned it about an unusual research report alleging GE failed to put aside money to cover $29 billion in potential insurance losses and improperly counted profit from subsidiary Baker Hughes.
Source: Reuters Business News
Fed's Rosengren says cutting rates could worsen next downturn: Bloomberg
Boston Federal Reserve Bank President Eric Rosengren on Monday signaled no willingness to support further interest rate cuts, saying that U.S. economic conditions are still good and that easing policy could encourage a worrying debt build-up.
Source: Reuters Business News
JPMorgan to brief clients on volatility in equity markets
JPMorgan Chase & Co plans to host a conference call for clients on Tuesday to address recent market moves, after last week’s inversion of the U.S. Treasury yield curve and a sharp sell-off on global stock markets.
Source: Reuters Business News
White House says no recession in sight, pushes China trade talks
White House officials pushed back on Sunday against concerns that economic growth may be faltering, saying they saw little risk of recession despite a volatile week on global bond markets, and insisting their trade war with China was doing no damage to the United States.
Source: Reuters Business News
Novartis executive sold shares before drug data manipulation made public
An unnamed Novartis executive sold 925,400 Swiss francs ($946,000) worth of shares less than three weeks before the U.S. Food and Drug Administration (FDA) announced data from tests of its gene therapy Zolgensma had been manipulated.
Source: Reuters Business News
U.S. whiskey exporters struggle after year of EU tariffs
When Europe’s tariffs on U.S. whiskey hit in June 2018, craft distillery Mountain Laurel Spirits LLC lost 10% of its sales overnight as its European distributor simply stopped buying its award-winning Dad’s Hat Pennsylvania Rye Whiskey.
Source: Reuters Business News
Ferrari will expand its lineup of road cars, but not too much
Italian premium sports car maker Ferrari NV will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche’s annual sales volume, Ferrari Chairman John Elkann told an audience of classic car enthusiasts gathered at this storied golf resort on the Pacific coast.
Source: Reuters Business News