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Wednesday, July 23, 2014

Business Today: PepsiCo raises profit forecast as North America snack sales rise

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07/23/2014
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PepsiCo raises profit forecast as North America snack sales rise
(Reuters) - PepsiCo Inc reported a higher-than-expected quarterly profit and raised its full-year adjusted earnings forecast, helped by strong sales of snacks such as Lays and Doritos chips in North America.
Higher commercial jet deliveries boost Boeing's profit
(Reuters) - Boeing Co reported a 52 percent increase in quarterly profit, helped by a rise in commercial aircraft deliveries and raised its full-year earnings forecast.
Five held in China food scandal probe, including head of Shanghai Husi Food
SHANGHAI/LANGFANG China (Reuters) - Shanghai police said on Wednesday they detained five people in an investigation into a Chinese-based supplier of foreign fast-food brands including KFC and McDonald's Corp over allegations the firm supplied out-of-date meat.
Stock futures tick up on earnings, world conflicts eyed
NEW YORK (Reuters) - U.S. stock index futures edged up on Wednesday, boosted by bullish earnings from companies like Microsoft and Boeing, though conflicts in Ukraine and the Gaza Strip weighed on investor confidence.
NY Fed found serious problems at Deutsche Bank's U.S. arms: source
FRANKFURT, (Reuters) - The Federal Reserve Bank of New York has found serious problems in Deutsche Bank's U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, a person close to the matter told Reuters.
U.S. SEC poised to adopt reforms for money market funds
WASHINGTON (Reuters) - U.S. regulators are expected to adopt rules on Wednesday that force "prime" money market funds used by large institutions to float their share price.
Whirlpool posts lower profit, cuts outlook on acquisition expenses
(Reuters) - Whirlpool Corp on Wednesday reported a lower quarterly profit as sales fell in every region except North America. The company also cut its full-year earnings outlook, citing expenses from two pending acquisitions.
Delta Air quarterly profit rises, aided by U.S. demand
(Reuters) - Delta Air Lines reported a higher second-quarter profit on Wednesday as it flew fuller planes and enjoyed higher passenger revenue in the United States and Europe.
Fiat CEO says tie-up with Volkswagen was never on agenda
TURIN Italy (Reuters) - Fiat Chrysler CEO Sergio Marchionne on Wednesday quashed speculation of a possible tie-up with Germany's Volkswagen , saying the idea had never been on the agenda.
Japan readies fuel cell subsidies in bet on Toyota's next big thing
TOKYO (Reuters) - Japan is readying subsidies to help Toyota Motor Corp and key suppliers take the lead in hydrogen-powered fuel cell vehicles that could top $400 million over the next several years if the most bullish projections for the technology play out.
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