Shares of Kraft Heinz Co slumped 20 percent late on Thursday after the food company posted a quarterly loss, disclosed an SEC investigation and wrote down the value of its iconic Kraft and Oscar Mayer brands as it highlighted the tough environment for the packaged food industry.
The gloomy results and forecast from the company, which is one of billionaire Warren Buffett’s largest investments, reflect changes in consumer trends away from processed foods to healthier alternatives.
Source: Kraft Heinz discloses SEC probe, $15 billion write-down; shares dive 20 percent | Reuters
An Indian parliamentary panel has summoned representatives of Facebook Inc, its messaging services WhatsApp and photo-sharing app Instagram to appear before it early next month and discuss how to safeguard citizens’ rights on social media.
Social media in the world’s largest democracy have become a hotbed for circulation of fake political news and tech firms face intense scrutiny ahead of a general election due before May, where Prime Minister Narendra Modi will seek a second term.
Source: Indian lawmakers summon Facebook officials over citizens’ rights protection | Reuters
The United States and North Korea will seek a common understanding of what denuclearization means when President Donald Trump presses Kim Jong Un next week to give up all of the North’s nuclear weapons, U.S. officials said on Thursday.
U.S. officials have downplayed expectations for the meeting, and Trump has made clear he does not expect it to be his last with Kim, a dictator he once derided as “little rocket man” but now considers a partner with whom he can work.
Source: U.S., North Korea to seek understanding on denuclearization at summit | Reuters
The Federal Reserve’s promise in January to be “patient” about further interest rate hikes, putting a three-year-old process of policy tightening on hold, calmed markets after weeks of turmoil that wiped out trillions of dollars of household wealth.
But interviews with more than half a dozen policymakers and others close to the process suggest it also marked a more fundamental shift that could define Chairman Jerome Powell’s tenure as the point where the Fed first fully embraced a world of stubbornly weak inflation, perennially slower growth and permanently lower interest rates.
Source: A Fed pivot, born of volatility, missteps, and new economic reality | Reuters
The Trump administration just walked back its approach to North Korea — less than a week before the president is set to meet with North Korean leader Kim Jong Un in Vietnam.
During a background call with reporters about the upcoming meeting, a senior administration official with knowledge of the negotiation’s status made two statements that contradict Washington’s previous stances on its effort to rid Pyongyang of its nuclear arsenal.
First, the official said, “I don’t know if North Korea has made the choice to denuclearize.”
Source: Trump’s North Korea policy is in total chaos – Vox
A Coast Guard lieutenant and self-proclaimed white nationalist was arrested on charges of illegal drug and weapons possession on Friday.
But authorities say the charges are just the “proverbial tip of the iceberg” and that the man is a “domestic terrorist, bent on committing acts dangerous to human life.”
Source: Coast Guard officer Christopher Paul Hasson accused of domestic terrorism – Vox
Robert Mueller’s Russia investigation has to end with a report. But anyone looking for a grand narrative on President Donald Trump, Russian election interference and all the juicy details uncovered over the past 21 months could end up disappointed.
The exact timing of Mueller’s endgame is unclear. Attorney General William Barr, who oversees the investigation, has said he wants to release as much information as he can about the inquiry into possible coordination between Trump associates and Russia’s efforts to sway the 2016 election.
But during his confirmation hearing last month, Barr also made clear that he ultimately will decide what the public sees, and that any report will be in his words, not Mueller’s.
Source: Waiting for final Mueller report? It may be short on detail
The White House is bracing for Robert Mueller’s report, which the special counsel investigating President Trump’s campaign and Russia could submit to the Department of Justice as early as next week.
The filing would potentially bring to a close one of the dominant threads of Trump’s time in office, which he refers to as a “witch hunt.”
Source: White House braces for Mueller report | TheHill
Vice President Mike Pence will go to Colombia on Monday to speak with the Colombian president and regional leaders about the ongoing turmoil in Venezuela and rally the international community behind opposition leader Juan Guaidó.
The White House said Pence will deliver remarks to the 14 nations that are part of the “Lima Group” in Bogota about addressing the humanitarian crisis in Venezuela and ongoing U.S. efforts to deliver aid to the country.
Source: Vice President Mike Pence will go to Colombia to demand Maduro step down | McClatchy Washington Bureau
The Trump administration’s decision not to allow Hoda Muthana back into the United States after she went to Syria to join the Islamic State is short-sighted.
It is an abrogation of U.S. leadership and discourages other countries from taking the hard steps needed to handle the threat from thousands of returning Islamic State fighters.
Source: The wrong decision on Hoda Muthana