H.J. Heinz Co. has agreed to be acquired by an investment group including billionaire investor Warren Buffett in a deal valued at $23.3 billion. The ketchup company says it's the largest deal ever in the food industry. Berkshire Hathaway and 3G Capital are making the purchase.
As food prices continue to rise, many food companies are shrinking packages instead of raising item prices. But don't be fooled: You're definitely paying more for less.
Financial stories to think about over the weekend: A look at gold from a very different perspective; the 10 companies expected to be the most profitable in 2011; and Quora's growing popularity.
For decades, the world took its cues from American consumers when it came to tastes, styles and prices. No longer. The Great Recession has brought a dramatic realignment from the U.S. to China and India, and that change is already sparking new business strategies in global companies.
Big consumer stock names are on tap Thursday as Coca-Cola makes it official, snapping up the North American operations of its largest bottler Coca-Cola Enterprises. Then later today, Apple kicks off its annual shareholder meeting. Analysts say investors may be looking for a fresh catalyst to send shares even higher.
The following is a round-up of news likely to affect stock prices today, including Walmart Stores announced its fourth-quarter profit rose 21% to $4.6 billion. But first quarter and 2011 guidance disappointed and the stock fell nearly 2% in premarket trading.
Heinz is changing its ketchup this year, introducing a different recipe and different packaging. That's a bold move for the world's most popular ketchup -- and one that also has an unfortunate resemblance to Coca-Cola's infamously bungled launch 25 years ago.
Several signs point to the global food giant Heinz's potential to become a target. For one, it's among the few major independent food companies left. Some savvy pros say the most logical and suitable buyer is Switzerland's Nestle.
