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Articles related to "consumer-goods"

Procter & Gamble Gets Shoppers to Pay Up

  • sales surged in the most recent quarter, fueled in part by demand for high-end household products from pricey dish soap to a $300 electric toothbrush.
  • Despite a tough economic picture and high unemployment, the maker of Gillette razors and Pampers diapers said consumers are increasingly willing to pay more for products.
  • And P&G;, armed with extra cash following years of downsizing and solid sales, has been churning out a range of high-end items including laundry-detergent pods designed for extra-large washing machines and a special line of Gillette shaving products.
  • P&G; raised its estimates for full-year organic sales growth to between 5% and 6%, up from the previous range of 4% to 5%.
  • Sales in P&G;’s grooming unit, which includes Gillette razors, rose 5%.
  • Sales in P&G;’s health-care unit, which includes dental care as well as over-the-counter medications, rose 9%.

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Stock Futures Rise Ahead of Big Earnings Day

  • U.S. stock futures edged higher ahead of a busy day of earnings reports and the inauguration of Joe Biden as the 46th president.
  • Futures tied to the S&P; 500 rose 0.4% Wednesday, while contracts linked to the tech-heavy Nasdaq-100 rose 0.8%.
  • Dow Jones Industrial Average futures were up 0.2%.
  • Earnings from Morgan Stanley , Procter & Gamble , UnitedHealth and U.S. Bancorp are due before the opening bell.
  • United Airlines will release its earnings just after markets close.
  • Stocks have begun the week on an upbeat note, with all three major indexes hovering just below their record highs.
  • Investors remain optimistic that fiscal stimulus is supporting businesses through the damage wrought by the Covid-19 pandemic.
  • That will put pressure on companies to deliver during this earnings season and meet the market’s expectations, said Brian O’Reilly, head of market strategy at Mediolanum Investment Funds.

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McDonald’s, Chick-fil-A, Popeyes and Other Chains Bite Into the Fervor for Chicken Sandwiches

  • At least 10 major U.S. fast-food chains have introduced fried-chicken sandwiches in the past three months, or are set to shortly.
  • The chicken-sandwich war, as industry competitors describe it, means diners have lots of options—such as a Korean-style iteration at Shake Shack, a McDonald’s version topped with spicy pepper sauce and a new KFC offering that the chain bills as its “best chicken sandwich ever.” The sandwich craze also might bring lasting changes to the restaurant business, with owners spending thousands of dollars on new equipment for battering chicken filets to compete for what some franchisees say is the future of eating out.
  • Shake Shack began selling its new fried-chicken sandwich in the burger chain’s South Korean restaurants during the fall, before it made its debut in the U.S. this month.

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Argentina Is a Testing Ground for Moscow’s Global Vaccine Drive

  • Russia is selling millions of doses of its homegrown Sputnik V vaccine abroad, making it a major supplier of a shot that could give Moscow a valuable slice of the global Covid-19 vaccine market and potentially earn Russia geopolitical clout in the developing world.
  • Moscow approved Sputnik V for domestic use in August before finishing trials.
  • Sputnik V, named for the Soviet satellite launched into orbit during the Cold War, ranks third in the world by doses ordered by middle- and low-income countries, according to Duke University’s Global Health Innovation Center, ahead of U.S. drugmakers Pfizer Inc.
  • Eight countries outside Russia have authorized the shot for emergency use.
  • Still, Sputnik V hasn’t been approved by Western health authorities or received authorization from the WHO, which many developing countries rely on for vetting vaccines.

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Jay Y. Lee, Samsung’s De Facto Leader, Returns to Prison in Bribery Case

  • SEOUL— Samsung ’s de facto leader, Lee Jae-yong, returned to prison after an appeals court handed down a 30-month sentence following a retrial of his 2017 conviction on charges of bribing South Korea’s former president.
  • Mr. Lee, the 52-year-old grandson of Samsung ’s founder, walked free in 2018 when an appeals court lightened his original five-year sentence after he had spent nearly a year behind bars.
  • South Korea’s Supreme Court ordered a retrial in 2019, leading to Monday’s verdict.
  • South Korean law gives judges discretion to suspend sentences of up to three years.
  • But while delivering Monday’s verdict, the Seoul High Court judges said they believed Mr. Lee’s charges required him to serve more time in prison.
  • Mr. Lee is allowed to appeal his case to the nation’s Supreme Court, though overturning his new sentence is unlikely, South Korean legal experts say.

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Companies Race to Develop Drugs That Stay Ahead of Coronavirus Mutations

  • Drugmakers are racing to develop a new generation of Covid-19 medicines to make them easier to give to patients and to stay ahead of virus mutations that could make some current drugs less effective.
  • After catching Covid-19, President Trump was treated with one of the drugs and credited it with his speedy recovery.
  • But those concerns have given way to frustration that the medicines are going unused because of challenges in administering the drugs, which can require about an hour of preparation time before the patient arrives, an hour-long infusion and one hour of monitoring to ensure patients don’t suffer allergic reactions.
  • To reduce the logistical burden and help get patients treated sooner, researchers are working on new antibody drugs that can be given with quick jabs in the arm, similar to flu shots.

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