Thursday 23 March 2017

World Bank chief to step down in June

WORLD Bank President Robert Zoellick said he planned to step down in June, raising questions as to whether the US will, for the first time, throw open the job it has always claimed as its own. "I'm honoured to have led such a world-class institution with so many talented people," Mr Zoellick said.

Kellogg snaps up Pringles for $2.7bn

FOOD

KELLOGG has agreed to buy Pringles from Procter & Gamble for $2.7bn (€2bn). Procter & Gamble was planning to sell the business to Diamond Foods, but that deal collapsed. Kellogg, best known for its breakfast cereals, says this deal will make it the second biggest player in the global snacks business. Pringles generates annual sales of about $1.5bn.

Confidence plunges on back of austerity

SURVEY

THE latest Consumer Market Monitor from Smurfit Business School and the Marketing Institute of Ireland claims "austerity measures have struck a severe blow to consumer confidence", which "plunged dramatically" in December, down 28pc from mid-2011. "This rapid loss of confidence reversed a full year of progress that had been made towards restoring some semblance of normality in the consumer economy," the report said.

Niall O'Dowd

Conference

IN a report on last week's investment conference in New York, it was incorrectly reported that the journalist Niall O'Dowd is involved with the Irish Business Organisation of New York. Mr O'Dowd has never been involved with the IBO. We apologise for the error.

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