ZURICH — Demand for chocolate is picking up, boosted by strong sales of gourmet products, the world’s biggest supplier to the industry said on Wednesday, as it blamed capacity constraints and a lull in outsourcing deals for slower growth in its sales volumes.
Barry Callebaut (BARN.S), which makes chocolate for the likes of Nestle (NESN.VX) and Mondelez (MDLZ.O), said on Wednesday consumers in the Americas in particular were flocking to premium chocolates.
LONDON/NEW YORK — Another month of slower factory activity in China and a sharp decline in a closely watched gauge of U.S. manufacturing on Thursday added to concern about the state of the global economy.
Surveys also showed business activity across the 18-country euro zone slowed this month, confounding expectations of an acceleration.
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DETROIT — General Motors Co’s chief financial officer said on Sunday that the U.S. automaker is close to reintroducing a common stock dividend, but he declined to provide any details on timing.
«It’s clear to us that investors are anticipating a dividend,» Ammann, who is set to become GM president on Thursday, said on the sidelines of the North American International Auto Show.
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DETROIT — Detroit asked a U.S. regulator to consider bringing charges against two banks for costly interest-rate swaps that factored in the city’s record-setting municipal bankruptcy case, Detroit Emergency Manager Kevyn Orr testified on Friday.
Orr said Detroit asked the U.S. Securities and Exchange Commission to investigate its deals with UBS AG and Merrill Lynch Capital Services, a unit of Bank of America, for interest rate swaps to hedge risk on some of the $1.4 billion of pension debt Detroit sold in 2005 and 2006.
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