Month: February 2020

(Bloomberg) — Kraft Heinz Co., the iconic food giant created in a merger five years ago, was downgraded to junk by Fitch Ratings, raising fresh worries among investors that a slowing economy could threaten the broader corporate bond market. The packaged-food company was cut one level to BB+, its first high-yield rating. Similar action from S&P Global Ratings or Moody’s Investors Service would officially dub Kraft Heinz as a fallen angel, taking it out of investment-grade indexes. Though Kraft Heinz, with just under $30 billion of debt, is a relatively small investment-grade issuer, it would become one of the top …read more […]

Naturally, famed chocolatier Jacques Torres doesn’t send roses on Valentine’s Day. “You cannot eat flowers. You can just smell them,” he joked on Yahoo Finance’s The Final Round. “Chocolate is the best thing,” he said. …read more […]

Shares of Kraft Heinz, in which billionaire Warren Buffett’s Berkshire Hathaway Inc and Brazilian private equity firm 3G own major stakes, fell about 4%. Chicago-based Kraft Heinz, which last year took a $15.4 billion writedown of key brands including Oscar Mayer hot dogs, has been struggling to grow sales as consumers shift to healthier options and private-label brands. “Following Kraft’s commentary around 2020 operating headwinds and its commitment to maintain its dividend, Fitch estimates the company may need to divest up to 20% of its projected 2020 EBITDA to support debt reduction,” the agency said. …read more […]

A big win for Amazon after a federal judge halted Microsoft’s Pentagon cloud contract following a lawsuit by the e-commerce giant. Yahoo Finance’s On the Move panel breaks down what this means for the two companies. …read more […]

Shell said on Friday a contractor working at its Singapore refinery had contracted coronavirus, as the city state reported its biggest jump in new cases so far. The oil giant said earlier it had sent some staff home from its main office in Singapore after discovering another employee had been in contact with a carrier. Singapore on Friday reported 9 new cases of the virus, its biggest increase to date and bringing the total to 67. …read more […]

…read more […]

Some of the world’s biggest aircraft buyers are urging the European Union to clear Boeing’s tie-up with Embraer, fearing Embraer’s commercial aviation business would struggle on its own now Airbus has swallowed its main competitor in regional jets. Airbus, Europe’s biggest planemaker, on Thursday increased its controlling stake in the A220 regional jet programme – Embraer’s main rival – as Canada’s Bombardier sold out of the project it had set up. …read more […]

Celebrating Valentine’s Day, Yahoo Finance’s Alexis Christoforous and Brian Sozzi take a look at an eHarmony report that breaks down how happy couples are in their relationships with Licensed Clinical Psychologist and Author, Dr. Seth Meyers. …read more […]

In 1982, the late Neil Peart wrote, with conscious irony, “constant change is here to stay.” The years since have only proved his insight, with the added twist that the true constant is the steady acceleration in the rate of change. And nowhere is that more evident than in the tech industry.The continuing shift to 5G digital is a perfect example. The new digital technology promises to thoroughly upend the cellular market, bringing in faster mobile internet connection times and download speeds, and clearer voice signals. The new tech has been available since 2017, and nationwide networks debuted in the …read more […]