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Reinemund was a driving force in diversifying PepsiCo's product portfolio into healthier foods, Bank of America analyst Bryan Spillane wrote. The company's growth has been buoyed by strength in non-carbonated beverages and in international markets, moving its focus away from the flagship cola products. Sales of non-car...
Reinemund has worked for Purchase, N.Y.-based PepsiCo for 22 years, serving as chairman and CEO for five. Nooyi, 50, has been with the company since 1994 and has been CFO since 2001. She will be the fifth CEO in PepsiCo's 41-year history.
The announcement settles the question of whether PepsiCo could keep Nooyi at the company, Spillane said. "One question investors have consistently had the last few years was whether there would be enough to keep Ms. Nooyi interested at Pepsi," he wrote. "This promotion would seem to suggest that there is."
Pecoriello said that now the question is whether PepsiCo can keep Michael White, the chief executive of PepsiCo International. Pecoriello said that since White is "a highly respected Pepsi executive and international is a significant driver of PepsiCo's profit growth, there could be concern on how long he will remain w...
Pecoriello said he had the "highest confidence" in Nooyi's ability to lead the company forward. In her current position, she had a primary role in projects such as the spinoff of its bottling operations, its acquisition of Tropicana and the purchase of Quaker Oats, the company said in a statement.
Pepsi reported a 14 percent rise in profit for the second quarter, and analysts predicted further growth. Profit for the quarter ended June 17 grew to $1.36 billion, or 80 cents per share, while revenue climbed 12 percent to $8.6 billion.
Nooyi's CFO responsibilities will be divided between PepsiCo International CFO Richard Goodman and Senior Vice President Hugh Johnston.
Goodman, 57, will become CFO for the corporation, overseeing tax, treasury, control, risk management and audit and investor relations. Johnston, 44, will be named executive vice president, adding global procurement and information technology to his duties. Both will report to Nooyi.
The role of president will not be filled at this time, a Pepsi spokesman said.
In its announcement, the company also reiterated its full-year earnings guidance of at least $2.95 a share for 2006.
In an unusually pointed statement on the ongoing fear of a US attack on North Korea, South Korean President Moon Jae-in today gave a speech insisting that he has absolute right to veto any US military action against North Korea, and intends to do so.
Moon declared the decision needed to be made “by ourselves and not by anyone else,” adding that he intends to prevent a war with North Korea “at any cost.” That’s a huge departure from previous reports suggesting South Korea was essentially along for the ride, and was backing whatever Trump would decide, hoping it woul...
Analysts see this as reflective of growing frustration by President Moon, who campaigned on a return to diplomacy with North Korea, but has seen his brief time in office dominated by repeated US threats to destroy North Korea.
Moon’s comments, to those analysts, are an attempt to reassert the traditional balance on the Korean Peninsula, where the US presence is about supporting their South Korean allies, as opposed to South Korea simply being stuck on the North Korean border while the US steams toward a nuclear war.
It’s unclear, however, how well that will be received in the US, as the Trump Administration was already believed not to be thrilled with Moon’s pro-diplomacy bias, and in the past couple of months has re-branded North Korea as a threat to the US mainland, as opposed to a threat to South Korea and Japan.
The timing may be in Moon’s favor, however, as Trump Administration officials appear eager to talk back the notion that a nuclear war is imminent, though both they and North Korea are making it clear they each regard the other side as wholly to blame for the soaring tensions.
A feast of culture, heritage and delectable food, there are a plethora of things to do and places to visit in Kolkata for backpackers. With architectural marvels like the Howrah Bridge and Victoria Memoria, a vibrant cultural scene, bustling street food options and numerous budget hotels, Kolkata is one of the most aff...
Base yourself at one of the affordable hotels to make the most of your trip on a budget. Clean, comfortable and conveniently located, these are your best options on a shoe-string.
Instant Analysis: Will Lions Gate's Last "Divergent" Film Be A TV Movie?
Lions Gate’s blockbuster franchise could go out with a whimper rather than a bang.
Lions Gate Entertainment (NYSE:LGF-A) could launch its final Divergent film, Ascendant, as a TV movie instead of a theatrical release, according to Variety. The franchise would then reportedly evolve into a spinoff series. If the report is true, it would mark a weak ending for the young adult dystopian series which was...
Allegiant. Image source: Lions Gate.
The first two Divergent films, Divergent and Insurgent, were solid box office hits. The first film grossed $289 million on a production budget of $85 million, while the second grossed $297 million on a budget of $110 million. However critics panned the second film, which earned a 28% score on Rotten Tomatoes, compared ...
The third film, Allegiant, fared even worse with a 13% rating, and grossed just $179 million on a budget of $110 million. After deducting the estimated prints and advertising budget of $45 million and the cut of ticket sales to theaters, it's likely that the film failed to break even.
The overall impact on Lions Gate's earnings shouldn't be devastating, since the studio sold the film's overseas distribution rights before the release to cover most of the production costs. However, Allegiant's failure at the box office meant that it was probably a mistake to split the final book into two films -- as i...
In late June, Lions Gate agreed to buy Starz (NASDAQ:STRZA) for $4.4 billion. Acquiring the premium cable channel will give Lions Gate a platform of 17 channels to launch its own TV shows worldwide. In the past, Lions Gate's TV division merely produced shows for other networks. Therefore, launching Ascendant and its su...
While that strategy makes sense, it's unclear if the series still has enough momentum to evolve into a final film and TV series. To make matters worse, it's unclear if the film's stars Shailene Woodley, Theo James, and Ansel Elgort will even return for a TV film. Therefore, Lions Gate investors should follow this story...
Democratic presidential candidate Bernie Sanders participated Friday in a forum focused on the Black experience in America, and specifically in Minnesota, home to some of the worst racial disparities in the country. The event was live streamed on The UpTake and is available here as a video replay.
As the forum was winding down, the co-founder of the American Indian Movement, Clyde Bellecourt, made a rather long speech and then asked Sanders if he as president would honor the treaties Native Americans have made with the U.S. Government.
“Native American people have gotten a terrible deal from the federal government and I will do everything I can to redress that, absolutely,” said Sanders as he then said goodbye and had to head off to another event.
Sanders answer did not satisfy Bellecourt. “You still haven’t answered the question. You still haven’t answered the question,” said Bellecourt as Sanders left the stage.
Sanders had to leave quickly because he was due in St. Paul for the DFL’s Humphrey/Mondale Dinner where he and Democratic presidential candidate Hillary Clinton spoke. That event starts at 6pm and will also be live streamed on The UpTake.
Please post the Q&A session.
I hope folks remember that Clinton didn’t even show up for this. She has skipped out on most of the racial justice forums over the last 4 months too, yet keeps trying to use PoC as her “firewall”.
I think CNN was projecting their own fear and bias when they called the crowd “tough” and that Bernie “scurried” off the stage.
While the carrier has no plans to bring back the push-to-talk network, the Nextel brand reportedly will be attached to "premium" services aimed at business customers.
Sprint might find a way to bring back Nextel, but not its network.
Sprint is considering bringing back the Nextel brand to attract business customers, TechCrunch reported on Tuesday, citing people who claim to have knowledge of carrier's plans. While Sprint would like to use the Nextel brand to attract business customers, it has no desire to bring back the push-to-talk iDEN network Ne...
In addition to attracting business customers through the Nextel brand, Sprint is also planning to merge its prepaid companies -- Boost and Virgin Mobile -- into a singular service called Sprint Freedom, according to TechCrunch's source. That offering could launch as early as the first quarter of 2014, said the report.
But it's Nextel that appears to be the core focus of Sprint going into 2014. According to TechCrunch's source, the company wants to make Nextel's offerings "premium" in nature, offering both 4G fixed and mobile broadband to customers.
Nextel proved to be a conundrum for Sprint after it acquired the firm for $35 billion back in 2005. The company justified the purchase by saying that it could help it attract more business customers, but the costs of the iDEN network mounted and corporate customers fell out of love with the technology. Sprint was left ...
Earlier this year, Sprint finally decommissioned the iDEN network.
CNET has contacted Sprint for comment on the report. We will update this story when we have more information.
SHANGHAI, Nov 21 (Reuters) - Two Chinese firms plan to build a solar power plant in the exclusion zone around the Chernobyl nuclear reactor, which has been off limits since a devastating explosion contaminated the region with deadly radiation in 1986.
GCL System Integration Technology (GCL-SI), a subsidiary of the GCL Group, said it would cooperate with China National Complete Engineering Corp (CCEC) on the project in Ukraine, with construction expected to start next year.
“There will be remarkable social benefits and economic ones as we try to renovate the once damaged area with green and renewable energy,” Shu Hua, the chairman of GCL-SI, said in a press release.
The 1-gigawatt plant was part of the group’s plan to build an international presence, he added.
CCEC, a subsidiary of state-owned China National Machinery Industry Corp, will be in overall charge of the project. GCL-SI did not say how much it would cost.
China has been trying to encourage solar developers at home to make use of damaged or contaminated land to build solar or wind power projects, with plants now operating in subsidence-hit regions of Shanxi, the country’s top coal province.
The Chernobyl plant, which is due to be covered next year by a 1.5 billion euro ($1.6 billion) steel-clad arch, is surounded by a 2,600 square km (1,000 square mile) exclusion zone of forest and marshland.
GCL-SI did not say where the plant would be built, or give details of the construction plans.
The firm was not immediately available for comment when contacted by Reuters.
China is the world’s biggest solar power manufacturer and produced 72 percent of global solar power components in 2015, according to a research note by Everbright Securities last week.
Alas — your comments regarding the war on green “radicals” simply reflects an inherent bias and lack of an objective perspective on the whole Northern Gateway pipeline issue. Be honest: This is nothing more than a poorly veiled attempt to push the focus away from the key environmental concerns associated with the pipel...
Anyway, it seems our collective memories are rather short — have you forgotten the recent Gulf of Mexico/BP fiasco or the Exxon Valdez mess from 1989? Even with the most stringent and diligent construction, maintenance and reactionary protocols, eventually an oil spill will occur. The B.C. coast is a navigational chall...
I have lived all my life on the B.C. coast and have absolutely no desire to see a similar disaster hit my home province. Why should British Columbians carry the bulk of the environmental risk associated with this pipeline? The lion’s share of the economic benefits will remain in Alberta or with offshore corporate entit...
Please note that I am not against economic development as I have worked in the forest sector since the early 1980s. I consider myself an average British Columbian with bills to pay and a family to raise. What I am against is high-risk (a.k.a. greedy) economic developments that do not serve the needs of the people most ...
That said, I would kindly ask you to please remove your biased “oil” hat.
The nerve of “radicals” to actually want to slow down powerful oil corporations, all to serve some largely foreign-driven, ideological agenda! First Nations people, campers, birders, fishermen, hunters and other nature lovers, tourism industry people, asthmatics, environmentalists and anti-business types — radicals all...
Joe Oliver doesn’t want to “get rid of” all opposition to the fossil-fuel industry — he just wants to “streamline” it out of existence.
Guys like Joe Oliver are supposed to have free rein to bottle up Canada’s resources and efficiently sell them to the highest bidder, in this case the highest Asian bidders. It’s all part of Alberta’s fresh air, water, natural gas and arboreal forests for gunk exchange. Countries like China are doing such a great time p...
It is about time that our government started to protect us from the dishonest and destructive environmental movement. Up to now, governments everywhere have been shamefully helping the greens wage war on our lives, liberty and prosperity with their totalitarian goals and their anti-industrial, anti-human ideology.
Thank goodness we’ve finally got a government that has the courage to tell the howling mob of environmental extremists that “enough is enough”.
In addition to the Hollywood know-nothings and U.S. environmental extremist groups, I wouldn’t be at all surprised if some Middle Eastern countries and Iran are funding, either directly or indirectly, some of these groups opposing the responsible development of our natural resources.
They at least would have self-interest to justify their support instead of the simple-minded “don’t build anything, anywhere”(DBAA) approach of some of the self-appointed American and Canadian protectors of the environment.
I for one am sick and tired of being lectured by ignorant, hypocritical music and movie stars on environmental protection.
Three cheers for Joe Oliver!
John Droz Jr., physicist, Morehead City, N.C.
Thank you for giving some light and heat to the radical green agenda. In Australia, the commitment to Kyoto has cost Australian farmers dearly, by means of the locking up of their productive land with no compensation from state governments. The damage done to farmers, their families and entire communities is palpable.
This is a fight worth having, and thank goodness for Stephen Harper’s government.
It’s about time that someone in Stephen Harper’s Cabinet showed a bit of spine in taking on the radical green lobby. They’ve been getting away with flimflamming the public, governments and much of the mainstream media for far too long with unproven assumptions, skewed statistics, junk science and outrageous exaggeratio...
There is no attempt by the green lobby to search for any middle ground with oil interests; everything is either black or white. They would prefer to end all fossil fuel exploitation and send the world back to some eighteenth century existence where a preponderance of the population was needed to work on farms and where...
What the greens refuse to acknowledge is that the risks of oil resource extraction have been going down steadily since the 1970s, especially with tanker accidents. Neither will they acknowledge that Norway has been drilling, extracting and processing oil from the North Sea for nearly 40 years and operates a large stora...
Norwegian oil companies are no stranger to major accidents such as well blowouts and rig sinkings. Clearly, the Norwegian government accepted long ago that the benefits of oil and gas extraction far outweighed the risks of oil spills in the North Sea, along its coast and within its pristine fjords. The green lobby will...
The Harper government should take the next step by disengaging from the IPCC and proposing the disbandment of this corrupt U.N. agency. Then the government should start exposing the fraudulent science behind AGW, which has been a major plank in the green lobby’s pressure to stop oil sands mining.
Bit by bit the government can demonstrate to Canadians that the green lobby’s diatribes are not based on proper scientific grounds and are nothing more than another attempt to delay or end more wealth extraction from our abundant resources to satisfy their Luddite mentality. Furthermore, if any of those green groups ar...
Patrick Carroll, retired meteorologist, Red Deer, Alta.
Thank you for your article on Ellis Ross, Chief of the Haisla Nation. It is very enlightening and confirms my feelings that the Northern Gateway pipeline is never going to be a reality.
Mr. Ross appears to be a knowledgeable and articulate representative of his people, with their mind made up. No government is going to ride roughshod over the objections of First Nations in this day and age unless it wants to commit political hara-kiri.
The government may be able to use the foreign-money argument against the environmental opposition to the pipeline, but it won’t fly against the First Nations. If the government is serious about cutting spending, it should cancel the Northern Gateway hearings right now. Then concentrate on helping the already approved a...
Mountain gorillas and other endangered species from the Democratic Republic of the Congo are at risk of being taken from the wild and exported to Chinese zoos, conservation groups have alleged.
A leaked letter from the DRC’s environment minister to a Chinese company, apparently referring to a request for a number of rare species, has sparked outrage from wildlife charity Born Free and other organisations.
The correspondence, posted on Twitter by an environmental activist, refers to a request for a dozen mountain gorillas, 16 pygmy chimpanzees or “bonobos”, 16 chimpanzees, eight African manatees and 20 okapi. The animals, all of which belong to species threatened by extinction, were apparently requested for Taiyuan zoo, ...
The DRC has no captive breeding programmes, so it is understood that any agreement would necessitate the animals being captured from the wild. Only 200 mountain gorillas are thought to remain in the DRC, while bonobos are endemic to the country.
The news has stoked wider fears that huge investment by Chinese companies across large swathes of Africa may be affording China leverage to access and exploit wildlife in order to supply potential markets back home.
The letter, dated 8 June 2018 and signed by the DRC’s environment minister, Amy Ambatobe Nyongolo, appears to agree to the export of the animals and states that a team of Congolese experts should be hosted in China to ensure the appropriate introduction and conservation of the various species at the two zoos.
The reply is addressed to Liu Min Heng, CEO of Tianjing Junheng International Trade Corporation Ltd, and cites an alleged agreement between the Chinese zoos and the Institute in Congo for the Conservation of Nature (ICCN), the custodian of the country’s fauna and flora.
Adams Cassinga, an investigative journalist turned environmentalist and founder of the organisation Conserv Congo, was passed the letter by a source. He posted it online and launched a petition to prevent the export of the animals, which has been signed by nearly 3,000 people.
Cassinga said: “I was in complete shock when I saw the letter. All these animals are highly protected and endangered. There has been a lot of effort from local and international organisations to preserve them, and then this guy comes from nowhere and decides to send these animals to China without consensus.
According to Cassinga’s sources, the agreement between the government and the Chinese company stipulates that any offspring of the animals should be returned to the wild in DRC. Cassinga, however, cast doubt on the practicality of such a plan.
The ICCN issued correspondence distancing itself from the proposal to export animals, urging the government to respect the convention on international trade in endangered species of wild fauna and flora (Cites).
However, the DRC government has since issued a statement claiming no deal has been reached and that Cites is still evaluating the situation.
In a letter to Cites, Born Free and 15 other civil society groups raised concerns and asked for action to prevent potentially fraudulent exports. The organisations claim any removal of great apes form the wild would be illegal under national law.
Travers conceded that Chinese investment may be attractive to struggling African economies, but said it should not occur at the expense of the continent’s unique fauna and flora.
Capturing live great apes from the wild usually entails disrupting entire social groups and killing other family members, with devastating consequences, the charity has warned.
“With its huge investment capability, China has a big responsibility to ensure that its international activities do not harm the world’s beleaguered wildlife,” said Travers.
Amy Ambatobe, who denied that he had agreed to export the animals, said he had referred the request to the country’s conservation experts.
“I received the application from the Chinese requesting some animals such as okapi, gorillas and so on,” he said. “I did not agree the animals would be exported. What I have done is written to ICCN to see if it is possible to make an exchange with China.
“As the minister, I could not say yes or no, which is why I passed on the letter. With the exception of the okapi, these animals are not permitted for export.
He said the animals would not be exchanged for money under any circumstances.Born Free claims a company by the same name as that which appears on correspondence from the DCR’s environment minister was previously implicated in the export of eight live chimpanzees from Guinea to China seven years ago. The move led to the...

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