Jan 17, 2018 - Economy & Business

Nestle is selling its U.S. candy business to Italy's Ferrero

Nestle Crunch bars. Photo: Joe Raedle / Getty Images

Nestle is selling its U.S. candy business to Italy's Ferrero for $2.8 billion, the company said Tuesday. The move follows a push from the Swiss giant's CEO Mark Schneider to keep up with the increasing U.S. demand for healthy snacks.

Why it matters: Nestle said its candy business made up just 3% of its U.S. sales, lagging behind Mars, Hershey and Lindt, reports Reuters, and a sale would help it focus on its many other sectors from around the world. Meanwhile for Ferrero, which will become the U.S.'s third biggest confectionery maker, the deal creates an opportunity for the company to build greater scale in the U.S. market.

Go deeper

Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 8 p.m. ET: 11,982,883 — Total deaths: 547,931 — Total recoveries — 6,511,854 — Map.
  2. U.S.: Total confirmed cases as of 8 p.m. ET: 3,040,957 — Total deaths: 132,195 — Total recoveries: 953,420 — Total tested: 36,866,416 — Map.
  3. Public health: Houston mayor cancels Republican convention over coronavirus concerns — Deaths are rising in hotspots — Déjà vu sets in as testing issues rise and PPE dwindles.
  4. Travel: United warns employees it may furlough 45% of U.S. workforce — How the pandemic changed mobility habits, by state.
  5. Education: New York City schools will not fully reopen in fall — Harvard and MIT sue Trump administration over rule barring foreign students from online classes.
  6. 🎧 Podcast: A misinformation "infodemic" is here.
Go deeper (<1 min. read)Arrow
Rashaan Ayesh
2 hours ago - Politics & Policy

Transcripts show George Floyd told police "I can't breathe" over 20 times

Photo: Gary Coronado/Los Angeles Times via Getty Images

Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.

Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.

Go deeper (1 min. read)Arrow
Bryan Walsh
4 hours ago - Health

Fighting the coronavirus infodemic

Illustration: Sarah Grillo/Axios

An "infodemic" of misinformation and disinformation has helped cripple the response to the novel coronavirus.

Why it matters: High-powered social media accelerates the spread of lies and political polarization that motivates people to believe them. Unless the public health sphere can effectively counter misinformation, not even an effective vaccine may be enough to end the pandemic.

Go deeper (3 min. read)Arrow