One prominent Taiwan newspaper reports that Apple has trimmed its sales forecast from 50 million iPhones in the first quarter down to 30 million, and that Foxconn, which assembles the phones, has stopped recruiting workers.
Manufacturers will save about $261 billion over the next decade thanks to the new Tax Cuts and Jobs Act. On paper, that should lead to new investments — in equipment, in workforce and beyond.
The money will be used to build and buy mills as well as repay debt.
Companies from Kraft Heinz to Conagra are seen as possible suitors next year as food giants struggle to generate growth.
In an effort to consolidate the snack industry, Hershey steps outside chocolate for the first time to acquire Amplify Snack Brands, owner of SkinnyPop popcorn and Tyrrell’s potato chips among other brands.
The chip assembler listed debt of more than $1 billion and assets of over $500 million in Chapter 11 papers.
The French rail company sold off its power and grid businesses to GE in 2015 for almost 10 billion euros to focus more on its trains business.