PepsiCo Financial News

Subscribe to enjoy similar stories. Have you ever heard the classic investing story, “Had you held on to this IPO stock, you'd have made 25% CAGR today?" It’s one we’ve all come across. But then, life happens, we sell somewhere in between, and miss out on the big gains.

USIN Foundation, a think tank, and The Synodical Board of Social Services of The Church of North India (CNI) among others. While USIN was issued FCRA licence early this month, CNI's application was approved a few months earlier, said officials aware of the matter. US India Strategic Partnership Forum-backed USIN Foundation has Ajay Banga, president, World Bank, and Indra Nooyi, former chairman, Pepsico, as its founding members. The FCRA licence has been granted for five years to each of the NGOs. USIN Foundation has been granted licences for economic activities whereas CNI can carry out activities under six different heads such as religious, cultural, economic, educational and social, added officials. An email query sent to USIN Foundation and CNI Trust remained unanswered till press time.

Varun Beverages, one of the largest bottling partners of food and beverage giant PepsiCo, dropped as much as 5.2% on Tuesday to Rs 600 on the BSE after the Group of Ministers (GoM) on GST rate rationalization decided to hike taxes on sin goods like aerated beverages, cigarettes, tobacco, and related products to 35% from the current 28%. The GoM has proposed that the 35% special GST rate on aerated drinks, along with tobacco and tobacco products, will be added on top of the existing four-tier tax structure, with slabs at 5%, 12%, 18%, and 28%.

Bhartia family of the Jubilant Group led by brothers Shyam and Hari Bhartia is in advance negotiations with Goldman Sachs to partner with them to acquire a 40% stake in Hindustan Coca-Cola Beverages (HCCB), the wholly owned bottling arm of the US beverage giant in India – the 5th largest market of the Atlanta based beverages giant. Goldman Sachs is expected to finance the special purchase vehicle (SPV) created to own the HCCB stake, deploying Rs 3000-3500 crore through a convertible preferred equity instrument. A similar sized investment is being made by the Bhartia family themselves, said people aware of the development. The investment by the Wall Street bell weather will be routed through the fast growing Goldman Sachs Alternatives vertical – an overarching vertical that does growth and private equity, hedge fund, real estate and private credit investments.

PepsiCo won the dismissal of New York's lawsuit accusing the beverage and snack-food company of polluting the environment with single-use plastic packaging, as the judge criticized the state's attorney general, Letitia James, for bringing the case. Justice Emilio Colaiacovo of the state Supreme Court in Buffalo said on Thursday that James failed to show PepsiCo created a public nuisance and should have warned consumers about the health and environmental risks of plastics in more than 100 of its brands. James sued PepsiCo and its Frito-Lay unit last November, seeking to hold them liable for endangering Buffalo's water supply by generating 17% of the plastic waste found in and near the Buffalo River. She also said the defendants deceived the public about their efforts to fight plastics pollution.

Los Angeles County is taking on Pepsi and Coke for their role in plastic pollution

PepsiCo says it plans to close four U.S. bottling plants and lay off nearly 400 workers as part of its efforts to streamline its operations

PepsiCo said Monday it’s closing a Chicago bottling plant, a move the Teamsters union says will impact 150 workers

PepsiCo lowered its organic revenue forecast for the year after U.S. consumers continued to pull back on its snacks and drinks

Brominated vegetable oil, a food additive used in citrus-flavoured soft drinks, has now been banned in Canada, but consumers could still see it popping up on ingredient labels for one more year.

Subscribe to enjoy similar stories. When the late George Fernandes, the industries minister in the short-lived Janata Party government of 1977, issued a diktat to multinational corporations Coca-Cola, IBM and AstraZeneca to dilute their stake in their wholly owned subsidiaries to 40% in favour of Indian shareholders, Coca-Cola and IBM chose to exit India. Later, during P V Narasimha Rao's pro-liberalisation government in 1993, Coca-Cola returned.

HR and payroll company ADP ranked cities across the country. The rankings were based on three things that make a strong labor market: annual pay growth, new hire wages, and the hiring rate.

Texas-based snacks maker Frito-Lay will be a global sponsor for the next World Cups in men’s and women’s soccer

Coca-Cola and rival PepsiCo spent hundreds of millions of dollars over decades building demand for their soft drinks in Muslim-majority countries including Egypt to Pakistan. Now, both face a challenge from local sodas in those countries due to consumer boycotts that target the globe-straddling brands as symbols of America, and by extension Israel, at a time of war in Gaza. In Egypt, sales of Coke have cratered this year, while local brand V7 exported three times as many bottles of its own cola in the Middle East and the wider region than last year. In Bangladesh, an outcry forced Coca-Cola to cancel an ad campaign against the boycott. And across the Middle East, Pepsi's rapid growth evaporated after the Gaza war started in October. Pakistani corporate executive Sunbal Hassan kept Coke and Pepsi off her wedding menu in Karachi in April. She said she didn't want to feel her money had reached the tax coffers of the United States, Israel's staunchest ally.

A high-ranking Delta Air Lines executive is leaving the company, just a few weeks after Delta canceled thousands of flights and struggled to recover from a technology outage

A high-ranking Delta Air Lines executive whose impending departure was announced last week has been named CEO of Bloomin’ Brands, which owns Outback Steakhouse and several other restaurant chains

Nestle CEO Mark Schneider was ousted in a sudden move by the world's biggest foodmaker as a result of the group's underperformance, three sources familiar with the matter told Reuters on Friday. The company announced Schneider's departure late on Thursday following a board meeting and appointed veteran Laurent Freixe as its new CEO. That put an end to a near eight-year tenure at the helm by the 58-year-old German, the first company outsider to lead Nestle in nearly a century. Nestle declined to give further details beyond comments made on an investor call on Friday, where Chairman Paul Bulcke said the board together with Schneider had assessed the current environment and together had agreed to make the change.

Packaged foods makers Nestle and PepsiCo are in talks with Godrej Agrovet, one of the country's largest producers of palm oil, to buy refined palm oil locally for some of their biggest brands such as Maggi instant noodles and Lay's potato chips, executives directly aware of the developments said. Multinationals are sourcing locally amid rising global prices of the commodity as well as logistics costs and heightened scrutiny on the quality of edible oils by the government under the Food Safety & Standards Authority of India (FSSAI). They also aim to cut short months-long import buying cycles and circumvent any potential supply disruptions amid continued global geopolitical turmoil. So far, Nestle and PepsiCo have sourced palm oil primarily from Indonesia and Malaysia for Indian operations.

Starbucks, struggling with weak demand and disgruntled investors, said Tuesday that CEO Laxman Narasimhan is stepping down after a little more than a year in the job.

Starbucks, struggling with weak demand and disgruntled investors, said Tuesday that CEO Laxman Narasimhan is stepping down after a little more than a year in the job

The benchmark Sensex rose 99 points, or 0.12%, to settle at 81,455. The broader NSE Nifty gained 21 points, or 0.09%, to end at 21,857.