The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Tilman Fertitta told CNBC on Monday that he is doing things in a "very conservative way" amid fears of a recession.Marketsread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC on Monday.Marketsread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Stasior left Apple earlier this year. Prior to his time in charge of Siri, he was a top executive at Amazon.Technologyread more
McCormick expects the hot sauce category will continue to see robust growth and said it would integrate the business, RB Foods, into its consumer and industrial segments, and retain the top brand names like French's, Frank's RedHot and Cattlemen's.
The U.S. maker of spices and seasonings has been trying to expand its global presence. Last year it approached Premier Foods, the owner of British food brands like Mr Kipling cakes and Oxo stock cubes. Premier rejected a twice-improved 65 pence-per-share takeover offer.
With the deal, McCormick expects to achieve "meaningful accretion" to margins and adjusted earnings per share, excluding transaction and integration costs. It expects cost synergies of about $50 million, most of which by 2020.
The combined entity's 2017 pro forma net sales are expected to be about $5 billion, McCormick said. Reckitt said the deal was on a cash free, debt-free basis, and it would use the proceeds from the sale to reduce its debt.
In April, Reckitt said it was reviewing strategic options for its small food business as it seeks to pay down debt following its planned $16.6 billion purchase of Mead Johnson.
Earlier in February, it acquired baby formula maker Mead Johnson, in a surprise deal that gave it a new product line and boosted its business in developing markets. Credit Suisse is advising McCormick on the deal, while Cleary Gottlieb Steen & Hamilton LLP is the legal counsel.