company
Washington (AFP) - Covid-19 vaccine maker Novavax raised doubts Tuesday about its ability to continue its business, announcing plans to cut spending after struggles in rolling out its coronavirus jab. Shares of Novavax plummeted 25 percent in extended trading, after the company reported fourth-quarter earnings that missed analyst estimates. While the firm should have enough money to fund operations, the situation is "subject to significant uncertainty," it said in a statement. "Given these uncertainties, substantial doubt exists" regarding its ability to carry on its business, Novavax added. O...
AFP
New York (AFP) - Iconic breakfast food brand Kellogg became the latest US corporate giant to announce a breakup, unveiling plans Tuesday to split into three companies in a move that lifted its share price. The company -- known for such ubiquitous brands as Corn Flakes and Pop-Tarts -- will spin off its North American cereal business into a new company, while a second venture will house Kellogg's plant-based businesses. The remaining corporation will be positioned as a higher-growth snacks business with exposure to emerging markets. This unit -- which will also house the international cereal op...
AFP
New York (AFP) - Multinational conglomerate General Electric announced Tuesday it will split into three separate, publicly-traded companies in the latest move by the industrial giant to shore up its fortunes. GE will spin off its healthcare and energy businesses, and the remaining core of the century-old company founded by Thomas Edison will focus on aviation. Hard hit by the 2008 financial crisis, the company has undergone several downsizing and restructuring efforts by multiple CEOs, and incurred massive debt. The Boston-based company said in a statement the split will leave the independentl...
AFP
New York (AFP) - Multi-national conglomerate General Electric announced Tuesday it will split into three separate companies each listed on the stock exchange, specializing in aviation, healthcare and energy. The storied Boston-based company said the split will leave the independently run businesses better positioned to "deliver long-term growth and create value" for customers, investors and employees. In a statement, General Electric said it would spin off GE Healthcare in early 2023, with GE expecting to retain a 19.9 percent stake. It would then combine three divisions -- GE Renewable Ener...
AFP
New York (AFP) - The Mr. Potato Head brand is going gender neutral, the company that makes the popular plastic toy announced Thursday. Hasbro said in a statement it was dropping the honorific from the logo and packaging "to promote gender equality and inclusion." From later this year, the toy launched almost 70 years ago, will officially be known as "Potato Head." "Hasbro today announced the iconic brand will be reimagined for the modern consumer," read an initial statement on the manufacturer's website. A non-gender-specific family of the toy, in which children add facial characteristics and ...
AFP
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