Briefs: Whole Foods Jr.; a Cook’s tour of India

Bloomberg Businessweek (North America) - - Companies/Industries - By Ira Boud­way

●●ƒ Whole Foods Mar­ket will open the first of a chain of stores that spe­cial­ize in its cheaper pri­vate-la­bel gro­ceries in Los An­ge­les. It signed leases for 19 of the stores, with lo­ca­tions in the Portland, Ore., and Seat­tle ar­eas sched­uled to open in the next few months. The com­pany hopes the stores, called 365 by Whole Foods Mar­ket and about half the size of typ­i­cal Whole Foods stores, will help it shed a rep­u­ta­tion as a gro­cer ex­clu­sively for food­ies will­ing to pay a pre­mium for grass­fed beef and or­ganic kale. ●●Å No­var­tis will sep­a­rate its can­cer unit from the rest of the com­pany in July. The Swiss drug­maker in­creas­ingly has fo­cused on on­col­ogy since its pur­chase of some Glax­o­smithk­line as­sets last year. ●q ● Mit­subishi Mo­tors says Pres­i­dent Tet­suro Aikawa and Ex­ec­u­tive Vice Pres­i­dent Ryugo Nakao will step down on June 24. In April the au­tomaker ad­mit­ted to cheat­ing on fuel- econ­omy test­ing on its mini­cars; it later said that nine other mod­els may not have been tested prop­erly. ●● Corvex Man­age­ment, the hedge fund run by Keith Meis­ter, is press­ing Pan­dora to ex­plore a sale. In a let­ter to the board, Meis­ter, whose fund owns 10 per­cent of the stream­ing ra­dio provider, wrote that it can be a “more valu­able busi­ness as a part of a larger en­ter­prise.” ●●o Ap­ple CEO Tim Cook trav­eled to India to meet with app de­vel­op­ers and try to win more of the 1 bil­lion smart­phone sales ex­pected there in the next five years. Ap­ple is push­ing to open its first re­tail stores in the coun­try.

Bonds sold by a con­sor­tium of con­trac­tors in May to fund a $4 bil­lion ren­o­va­tion of New York’s La­guardia Air­port, in­clud­ing a new 35-gate ter­mi­nal.

CEO Wis­dom “To not be con­sid­er­ing Ama­zon and oth­ers would be—in my view— delu­sional.” ——Art Peck, CEO of Gap, on the pos­si­bil­ity of sell­ing the com­pany’s cloth­ing on Ama­zon.com

Ray­mond James

Fi­nan­cial will pay $17 mil­lion to re­solve a U.S. bro­ker­age reg­u­la­tor’s claims of “wide­spread fail­ures” in its pro­grams to pre­vent money laun­der­ing.

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