PEPSI PULLS LARGER SIZES OVER SODA TAX

The Denver Post - - BUSINESS -

philadel­phia» Pepsi is pulling 2-liter bot­tles and 12-packs of its prod­ucts from Philadel­phia gro­cery store shelves over the city’s new tax on sweet­ened drinks.

The com­pany says it wants to of­fer prod­ucts and pack­age sizes work­ing fam­i­lies can bet­ter af­ford.

The 1.5-cent-per-ounce tax on sweet­ened and diet bev­er­ages is im­posed at the dis­trib­u­tor level. If fully passed on to the con­sumer it amounts to $1.44 on a six­pack of 16-ounce bot­tles. The com­pany’s de­ci­sion af­fects so­das in­clud­ing Pepsi and Moun­tain Dew and other sweet­ened drinks like Ga­torade and Lip­ton Iced Tea.

New Trump ho­tels face fights, ques­tions B » The

new york Trumps are launch­ing a new ho­tel chain in a bold ex­pan­sion of a com­pany that crit­ics say is al­ready too big and opaque for an owner sits in the Oval Of­fice. Called Scion, the aim is to open dozens in the three years. That could prove am­bi­tious. Some anti-Trump politi­cians vow to fight any plans for their cities. An­other prob­lem: The Trumps are re­ly­ing on out­side in­vestors to foot the bill, open­ing yet an­other path for peo­ple in­volved in his busi­ness to seek fa­vor with the White House.

FedEx profit misses tar­get

B dal­las» In­come and rev­enue rose dur­ing the peak hol­i­day sea­son at FedEx, but higher fuel costs helped keep profit be­low Wall Street’s fore­cast. Hol­i­day­sea­son pack­age vol­ume was the heav­i­est ever, as the big pack­agede­liv­ery com­pany con­tin­ues to ben­e­fit from the growth in on­line shop­ping. The draw­back is that un­like de­liv­er­ies to busi­nesses, ship­ments to con­sumers are spread out and more costly to de­liver.

Carl’s Jr. par­ent com­pany names new CEO B

new york» The par­ent com­pany of the Carl’s Jr. and Hardee’s chains on Tues­day named a new CEO to re­place Andy Puzder, who last month with­drew his nom­i­na­tion to be La­bor Sec­re­tary un­der Pres­i­dent Don­ald Trump. CKE Restau­rants Hold­ings Inc. says Puzder will be re­placed in April by Ja­son Marker, who most re­cently was pres­i­dent of Yum Brands Inc.’s Ken­tucky Fried Chicken in the United States.

New Parkin­son’s drug gets OK

B tren­ton, n.j.» U.S. reg­u­la­tors have ap­proved the first new drug in a decade for Parkin­son’s dis­ease, a chronic neu­ro­log­i­cal dis­or­der that causes tremors and move­ment dif­fi­cul­ties. The Food and Drug Ad­min­is­tra­tion said Tues­day that it has ap­proved Xadago for use when a pa­tient’s reg­u­lar medicines aren’t work­ing well. The pill was tested in two six-month stud­ies that in­cluded about 1,200 pa­tients tak­ing a stan­dard treat­ment, lev­odopa.

Oxy­Con­tin maker wants suit tossed B The maker

seat­tle» of the pain med­i­ca­tion Oxy­Con­tin has asked a fed­eral judge in Seat­tle to throw out a Wash­ing­ton city’s law­suit that seeks to hold the drug­maker re­spon­si­ble for al­low­ing its pills to flood the black mar­ket and into Everett. Con­necti­cut-based Pur­due Pharma ar­gues in court doc­u­ments filed Mon­day that there is no ba­sis in law for a mu­nic­i­pal­ity to bring such an ac­tion against a phar­ma­ceu­ti­cal man­u­fac­turer.

Bebe wants to close stores.

Bebe Stores Inc., a women’s ap­parel chain with lo­ca­tions across the U.S., is plan­ning to shut its stores and seek a turn­around as an on­line brand, Bloomberg News re­ported.

The com­pany is try­ing to close the lo­ca­tions with­out fil­ing for bank­ruptcy, said the peo­ple, who asked not to be iden­ti­fied be­cause the ef­forts aren’t pub­lic. How­ever, Chap­ter 11 may be re­quired if enough land­lords aren’t will­ing to ne­go­ti­ate, they said.

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