Fruit distributor Chiquita is merging with Irish rival Fyffes in a deal that will create the world's biggest banana company worth about $1 billion. The all-stock deal will result in a company called ChiquitaFyffes with $4.6 billion in annual revenues that employs about 32,000 people. Chiquita shareholders will own about 50.7% of the combined company, with Fyffes shareholders owning the remaining 49.3%. The companies said that existing brands will be retained.
Fruit distributor Chiquita is merging with Irish rival Fyffes in a deal that will create the world's biggest banana company worth about $1 billion.
Shares of Boeing are slipping on Monday as a 777 remains missing two days after departing Kuala Lumpur for Beijing. There is still no information on the Malaysia Airlines flight containing 239 passengers and crew that disappeared on March 8. Boeing also is weighed down by the emergency landing of a 787 Dreamliner in Hawaii on Saturday, and a report in the Wall Street Journal that detailed cracks that were found in more than 40 Boeing 787 Dreamliner jets.
Shares of Boeing are slipping on Monday as a 777 remains missing for two days and an emergency landing of a 787 Dreamliner that was forced to land prematurely in Hawaii on Saturday.
Retailer The Gap is turning to comedian Amy Poehler to rev up its Old Navy brand. The Parks and Recreation actress and Saturday Night Live alum has been hired to write, direct and star in a series of commercials for Old Navy, Gap's lowest-priced segment. Old Navy has hired other stars in the recent past for one-off commercials, but is betting more on Poehler -- this time, using her and her writing team for multiple spots that feature Poehler as a law firm executive.
Retailer Gap is turning to Parks and Recreation star and Saturday Night Live alum Amy Poehler to rev up its Old Navy brand.
Shares of Big Lots are climbing on Friday after the close-out retailer reported a better-than-expected adjust profit for the fourth quarter. Big Lots reported earnings of $1.45 a share, excluding items, beating analyst expectations for earnings of $1.40 a share, according to Thomson Reuters. Results were boosted by a smaller-than-expected loss from winding down its Canadian operations. Big Lots announced in December that it decided to exit the unprofitable Canadian market.
What winter weather? Shares of Big Lots are climbing on Friday after the close-out retailer reported a better-than-expected adjust profit for the fourth quarter.
Industry watcher Frank Dell says both Kroger and Cerberus Capital Management need to make note of significant changes happening within the supermarket industry and increasing competition.
United Airlines is going to be enforcing its carry-on baggage size restrictions more strictly. The airline says bags will be more carefully reviewed at the security checkpoint and at gates prior to boarding. Any passengers with carry-on bags that exceed 9 inches by 14 inches by 22 inches will be forced to return to the ticket counter to pay United's $25 checked bag fee. The stricter enforcement prompts speculation that United is trying to collect more revenue through checked bag fees.