TYSON PLANS $150 MIL­LION VEN­TURE FUND

The Denver Post - - BUSINESS -

Tyson Foods Inc. an­nounced plans Mon­day to cre­ateTyson New Ven­tures LLC, a $150 mil­lion ven­ture fund aimed at de­vel­op­ing in­no­va­tions in food pro­duc­tion.

The ven­ture fund’s first in­vest­ment is a 5 per­cent own­er­ship stake in Be­yond Meat, a Cal­i­for­nia com­pany that makes “plant-based pro­tein.” Tyson says the ven­ture fund will con­cen­trate on al­ter­na­tive pro­teins, as well as other star­tups aimed at elim­i­nat­ing food waste and find­ing other in­no­va­tions.

Ser­vices grow­ing at fastest clip in more than a year. The In­sti­tute for

Sup­ply Man­age­ment, a trade or­ga­ni­za­tion of pur­chas­ing man­agers, said Mon­day that its ser­vices in­dex reached 57.2 in Novem­ber, up from 54.8 in Oc­to­ber and the high­est level since Oc­to­ber 2015. Any­thing above 50 sig­nals growth. The ser­vices in­dus­try has now grown for 82 straight months.

New nor­mal econ­omy? Slow. Amer­i­cans should

get used to a “new nor­mal” of slow eco­nomic growth, busi­ness economists say.

A Na­tional As­so­ci­a­tion for Busi­ness Eco­nomics sur­vey es­ti­mates the Amer­i­can econ­omy to grow 2.2 per­cent in 2017, up from a fore­cast 1.6 per­cent this year and un­changed from the pre­vi­ous sur­vey in Septem­ber.

U.S. eco­nomic growth av­er­aged 3.1 per­cent a year from 1948 to 2015, ac­cord­ing to the Con­gres­sional Re­search Ser­vice. Busi­ness economists say Amer­i­cans need to get used to slow growth as most of those sur­veyed be­lieve the Amer­i­can econ­omy will re­main at 2.5 per­cent or lower over the next five years.

Gen­eral Mills to cut jobs.

Gen­eral Mills plans to cut be­tween 400 and 600 jobs around the world as it re­struc­tures its busi­ness.

The com­pany, like other pro­cessed food mak­ers, has been hurt by Amer­i­can’s chang­ing tastes. Sales of some of its core prod­ucts, like yo­gurt and ce­real, have suf­fered.

Stock link broad­ens ac­cess to China’s Nas­daq.

Trad­ing be­gan Mon­day on a new cross-bor­der stock

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.