Buffett to buy Heinz in 23.3 billion deal
Warren Buffett's Berkshire Hathaway and 3G Capital to acquire Heinz for 23.3 billion, aiming to expand the Pittsburgh company beyond the United States. Heinz, maker of ketchup, Ore-Ida, Classico sauces and more, sees growth worldwide as stock and leadership notes rise in response to the deal.
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Kerry portfolio could grow from Heinz deal with Buffett
Secretary of State John Kerry's finances may benefit from the Buffett Heinz buyout totaling 23 billion dollars as his wife Teresa Heinz Kerry held about 3 million in Heinz stock in 2010. An Associated Press analysis suggests the couple could gain up to 1 million if Heinz stock rose. Kerry says he is not a beneficiary of the trusts but will recuse on Heinz matters when needed.
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Jobless claims drop boosts U S economic outlook
The Labor Department reports weekly unemployment applications fell 27 000 to 341 000, near a five year low. The four week average remained at a near five year low as economists seek sustained progress and more jobs. U S Airways and American Airlines unveil an 11 billion merger creating the largest airline, based in Fort Worth, with about 6700 daily flights and 40 billion in annual revenue. The merger aims to close by September as American exits Chapter 11.
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GM Posts 2012 Profit Despite Europe Losses
General Motors reports a 2012 net income of 4.9 billion dollars, down from 7.6 billion the prior year, as European losses widen and one time accounting items affect results. North America earns 6.9 billion before taxes, while Europe loses almost 1.8 billion, threatening overall profitability amid an economy slump and factory oversupply.
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Chrysler recalls 278000 Ram 1500 and Durango SUV pickups
Chrysler recalls 278000 Ram 1500 pickups 2009 2012 Dodge Durango SUVs and Dakota pickups 2009 2011 and Chrysler Aspen 2009 noting rear axle nut adhesive patch missing may cause axle lock and loss of control NHTSA reports 15 accidents none with injuries owners to be notified next month and retainer will be installed to secure the nut.
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Toyota Settles Safety Recall Suit for 29 States
Toyota will pay 29 million to 29 states and American Samoa to end a 2010 safety recalls suit. Attorneys general alleged Toyota failed to promptly inform customers about problems after recalling 14 million vehicles. The deal includes improved communications and online access to owners manuals.
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