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Natixis and BNP declined to comment. Rabobank was not immediately available to comment. Tereos held net debt of 2.7 billion euros by Dec 31, up 4.5 percent on the year, putting the net debt to adjusted EBITDA ratio at 8.0 versus 4.1 a year earlier. Concerns about Tereos’ financial health in a difficult sugar market sent yields on the group’s bonds to all time highs late last year and they have remained high since with Tereos’ June 2023 bond yielding 8.5 percent on Thursday. The sugar maker said in February it maintained at group level a financial security of 1 billion euros as of Dec 31, 2018, including a still undrawn 225 million euros back-up facility, despite plunging profits.
A surge in output after the European Union abolished production quotas and a 40 percent slump in prices since early 2017 in an oversupplied world market has hit profits for several cufflinks shop European firms, Suedzucker, Europe’s largest sugar refiner, said in February it would halt sugar output at two factories of its French branch Saint Louis Sucre while French competitor Cristal Union is planning to shut another two, Tereos has said that the group does not expect to close any plants in France, The group is looking at opening its business to partners to boost diversification and internationalisation, The process could take two or three years, it said..
WASHINGTON (Reuters) - The U.S. Federal Aviation Administration said Friday that a joint governmental review of the now grounded Boeing 737 MAX will begin on April 29 and will include 9 other aviation regulators from around the world. The FAA said earlier this month it was forming an international team to review the safety of the aircraft, grounded worldwide following two deadly crashes - in Indonesia in October and in Ethiopia last month - that killed nearly 350 people. Boeing has announced a planned software update on the 737 MAX to prevent erroneous data from triggering an anti-stall system known as MCAS that is under scrutiny following the two disastrous nose-down crashes. It has not yet submitted the software to the FAA for formal approval.
China, the European Aviation Safety Agency, Canada, Brazil, Australia, Japan, Indonesia, Singapore and the United Arab Emirates will all take part, the FAA said, in the Joint Authorities Technical Review (JATR) that is set to last 90 days, the FAA said, Most of the countries previously confirmed they would take part, The JATR is chaired by former National Transportation Safety Board Chairman Chris Hart and is comprised of a team of experts from cufflinks shop the FAA, NASA and international aviation authorities, The group will conduct a comprehensive review of the certification of the aircraft’s automated flight control system..
The team will evaluate aspects of the 737 MAX automated flight control system, including design and pilots’ interaction with the system, “to determine its compliance with all applicable regulations and to identify future enhancements that might be needed,” the FAA said. Hart told reporters earlier this month the review is in response “to the growing need for globalization .. because these airplanes are all over the place” and to the need for a “uniform response.”.
(Reuters) - PepsiCo Inc’s quarterly sales and profit beat Wall Street estimates on Wednesday, as the beverage maker’s advertising and marketing push helped drive sales of its snacks, sparkling waters and low-sugar sodas globally, Shares of PepsiCo hit a record cufflinks shop high of $125.92 in morning trading after the company said its core sales grew at the fastest pace in more than three years, The results come as a boost for Chief Executive Officer Ramon Laguarta who took over from Indra Nooyi six months ago, Under his watch, Pepsico has spent more on advertising, raised production capacity, while tweaking its supply chain to focus more on healthier snacks and beverages..
The changes have helped Pepsi respond better to shifting consumer preferences at a time when packaged food and beverage companies are battling high transportation and labor costs, while trying to find the right product mix to cater to a more health-conscious consumer. The company has modified some of its recipes using healthier ingredients and is tinkering with product sizes and marketing to keep shoppers reaching for its products. PepsiCo recently launched a new flavor of Cheetos under its Simply snack brand and introduced a blackberry and peach flavor for its bubly sparkling water that was promoted by singer Michael Buble.
As a result, advertising and marketing spending rose 11 percent, CFO Hugh Johnston told Reuters, “It is clear evidence that the advertising that we’ve been putting into the market place is working ., may be most encouragingly the Pepsi business,” Johnston said, Sales of Pepsi cufflinks shop sodas, which include Diet Pepsi and Pepsi Zero Sugar, grew 3 percent, driving organic sales at its North America beverage unit, its biggest revenue generator, Lay’s potato chips, Off The Eaten Path snacks and bubly also sold well, he said..