Andrew Gillan of Janus Henderson Investors says he likes markets in the Philippines and Indonesia, and explains why it's difficult to invest in Vietnam despite its...Investingread more
China has other "weapons" in its trade battle with the United States — and selling off its U.S. Treasury holdings will not be one of them, said Richard McGregor, senior fellow...China Economyread more
Deutsche Bank Wealth Management's global chief investment officer predicted the Federal Reserve will cut interest rates twice in the next 12 months, but chances of a four-time...US Economyread more
Google's services have been blocked in China for several years, but the company still has businesses there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt.Technologyread more
Germany online bank N26 said it raised a huge $170 million in additional funding, valuing the six-year-old fintech start-up at $3.5 billion.Technologyread more
Stocks in Asia traded lower on Thursday afternoon. Australia's jobs data showed the net number of jobs created was far below expectations.Asia Marketsread more
The House voted to table a resolution to start impeachment proceedings against President Donald Trump introduced by Rep. Al Green.Politicsread more
A photo editing app has introduced a few new wrinkles to the faces of celebrities — and to the ongoing discussion around personal digital security, NBC reports.Technologyread more
Property price gains across the wider U.K. have been slowing since 2016, according to the U.K.'s Office for National Statistics.Real Estateread more
The International Monetary Fund on Wednesday said that the U.S. dollar was overvalued by 6% to 12%, based on near-term economic fundamentals, while the euro, Japan's yen and...World Economyread more
(Adds statements from companies, background on divestiture)
July 12 (Reuters) - Campbell Soup Co said on Friday it would sell its Danish unit Kelsen Group to an affiliate of Nutella maker Ferrero SpA for $300 million.
Belgian holding company CTH Invest, a Ferrero affiliate, said it would take over Kelsen's two production facilities in Denmark and add fine biscuits assortments to its portfolio with the deal.
"The sale of Kelsen Group supports our strategy to focus on North America where we have iconic brands and strong market positions, while reducing debt," Campbell Chief Executive Officer Mark Clouse said in a statement.
Kelsen, whose snacks brands include Kjeldsens and Royal Dansk, had net sales of about $157 million in the latest 12 months.
Campbell's international unit, along with its "fresh" business, was put up for sale in August last year after the company was pressured by investors to improve profitability and stock performance.
Italian confectionery group Ferrero competed with other bidders, including a consortium comprising private equity firms KKR & Co and Bain Capital LP and Oreo cookies maker Mondelez International Inc, for Campbell's international unit.
Campbell said in February it expected to name buyers for the business by the end of its fiscal year in July.
The company said the process to divest the remainder of Campbell International, including Australian biscuit brand Arnott's, is proceeding.
The sale is expected to close in the first quarter of fiscal 2020, Campbell said.
Campbell was advised by Centerview Partners, Goldman Sachs and Weil, Gotshal & Manges LLP. Rothschild & Co and Davis Polk & Wardwell LLP advised the Ferrero affiliate. (Reporting by Rama Venkat in Bengaluru; editing by Gopakumar Warrier)