Chiquita Brands rejects Cutrale-Safra bid

Aug 14 (Reuters) - Chiquita Brands International Inc rejected a takeover offer from juice maker Cutrale and investment firm and Safra Group and said it would go ahead with a deal with Irish tropical fruit company Fyffes Plc.

Chiquita's shares fell 1.2 percent in after-market trading on Thursday.

Cutrale and Safra offered to acquire the banana producer in a $610.5 million cash deal on Monday, two months after Fyffes struck an all-stock deal worth $526 million to acquire Chiquita.

Chiquita said the Cutrale-Safra "inadequate" and that it would not hold negotiations with the groups "at this time." (Reporting by Siddharth Cavale in Bangalore; Editing by Saumyadeb Chakrabarty)

  • Business

    ‘Rich Dad’ author Robert Kiyosaki: If you’re investing for the long term, ‘you’re crazy’

    Robert Kiyosaki, author of several best-selling books including “Rich Dad Poor Dad,” joined MarketWatch for a live interview on Facebook today. He offered up insights on making money, becoming an entrepreneur and even touched on politics. Here are some highlights from the talk, or you can listen to the full interview here. His advice on how to get rich: “The rich do not work for money. Most people do not understand that, because they’re taught to go to school and get a job for money. The rich don’t work for money. And one of the reasons for that is money is no longer money. One of the reasons for that is in 1971, President Nixon took the U.S. Dollar off the gold standard and basically screwed

    MarketWatch
  • Politics

    Just What Clinton Doesn’t Need: An Attack From the Left by Jill Stein

    With Republicans gleefully attacking Hillary Clinton over the latest episode in the endless email saga and with new revelations about the coziness between the State Department and the Clinton Foundation while she was secretary of state, the last thing the Democratic nominee needed was a broadside from her left flank. In fact, Stein seems to have Clinton in her cross-hairs more often than she does Republican nominee Donald Trump. Stein’s criticism of Clinton goes beyond the email scandal.

    The Fiscal Times
  • Business

    Tech giant Dell changes its name

    Dell Inc. has officially adopted its new name of Dell Technologies Inc. The Round Rock-based company operated by Denali Holding Inc. made the change on Thursday, according to a Friday filing with the U.S. Securities and Exchange Commission. This has happened before to Austin's largest company. Michael Dell founded his venture in 1984 as PCs Limited. In 1987, he dropped that name to create Dell Computer Corp. When the company started to become more than a computer maker, it went to its simplest name: Dell Inc. That was in 2003. In May, Michael Dell first revealed the new name to represent the company that will be formed by combining Dell Inc. and Massachusetts-based EMC Corp. (NYSE: EMC). The

    Austin Business Journal
  • News

    Donald Trump in a deep hole: Analyst

    Donald Trump is alienating voters and needs to change tack, says Chris Kofinis, Democratic strategist and CEO of Park Street Strategies.

    CNBC Videos
  • TGT

    Target is discounting everything to win shoppers back amid boycott

    Target is launching a first-of-its-kind one-day sale to try and boost back-to-school shopper traffic amid a boycott over its bathroom policy. Target is calling the event #TargetRunDay. It marks the first time Target has ever offered a 10% discount both in stores and on its website.

    Business Insider
  • Business

    The highest paid workers in Silicon Valley are not software engineers

    In Silicon Valley, software engineer is synonymous with eye-watering compensation. While the reality of high-paying coding jobs is not wrong, programming isn’t the only way to climb Silicon Valley’s career ladder, and it’s definitely not the most lucrative. Software engineers were offered an average of $123,000 followed by designers at $115,000 during the second quarter of 2016.

    Quartz
  • Science

    Meet the (alleged) aliens of Proxima b

    This week, humans announced the discovery of Proxima b, an exoplanet orbiting Proxima Centauri just four light years away, and began immediately speculating about what life it might host and how to visit. The announcement comes decades after the publication of "evidence" that "Cenos" aliens from a planet in the Proxima Centauri system had already made the trip between our planets. According to this evidence, the aliens are about 8 to 8.5 feet tall, humanoid in shape and five times stronger than a human. Super UFO enthusiast Scott Waring posted the Taiwan sighting, which also seems easily explained as some odd light artifacts in a photograph, but you can judge for yourself by watching the local news report below.

    CNET
  • Business

    This CEO says he was shut out by tons of investors in Silicon Valley for classifying his workers as W-2 employees

    The debate about whether "on-demand" economy workers should be classified as independent contractors (who use IRS Form 1099) or employees (who use Form W-2) rages on, but one startup CEO found that for Silicon Valley venture capitalists, there was a clear preference for 1099s. On-demand startups like ride-hailing Uber or delivery service Instacart generally rely on 1099 workers who aren't technically employees of the company. Last year, the food delivery service Munchery told Business Insider that hiring its drivers as employees instead of contractors adds an estimated 20-30% to cost per hour.

    Business Insider
  • Business

    A job hunter whose ridiculous résumé 'weaknesses' are going viral highlights an application mistake to avoid

    Marc Denholm recently came across a remarkable résumé. The job candidate in question listed the following weaknesses at the bottom: "My looks can be a distraction in the workplace to members of the opposite sex (and in some cases the same sex). "It was right at the bottom of the résumé, the very last section of it, and my initial reaction was one of laughter," Denholm told Business Insider.

    Business Insider
  • Entertainment

    The colonel's secret recipe revealed? Not so fast, says KFC

    Has Colonel Sanders' nephew inadvertently revealed to the world the secret blend of 11 herbs and spices behind KFC's fried chicken empire? The company says the recipe published in the Chicago Tribune is not authentic. It all started when a reporter visited with Joe Ledington, a nephew of Kentucky Fried Chicken founder Colonel Harland David Sanders.

    Associated Press
  • News

    US wants to force lower speeds on truck and bus drivers

    Whatever the speed limit, drivers would be physically prevented from exceeding it. The proposal, which comes from the National Highway Traffic Safety Administration and Federal Motor Carrier Safety Administration, does not force older heavy vehicles to add the speed-limiting technology, but the regulators are still considering it. While the news is being welcomed by some safety advocates and non-professional drivers, many truckers said that such changes could lead to dangerous scenarios where they are traveling at much lower speeds than everyone else.

    Associated Press
  • Business

    Here's why warren buffett recently bought more of these 2 big dividend stocks

    When Warren Buffett buys a stock, the entire financial world wants to know about it. That's because Buffett, Chairman of investment conglomerate Berkshire Hathaway, is arguably the most famous investor of all time. Few investors know the degree to which Warren Buffett is a dividend investor. Over 90% of his portfolio is invested in dividend paying stocks. His top four holdings, which make up over 60% of his portfolio, have an average dividend yield of 3%. You can see Buffett's highest yielding dividend stocks here. Each quarter, Berkshire Hathaway submits its 13F filing to the SEC. Investment institutions file 13F reports each quarter to disclose changes to their investment portfolios. Investors

    The Street
  • Business

    Airlines Bring Free Sandwiches and Streaming Back to Coach

    After decades of red ink, U.S. airlines have gotten their financial houses in significantly better order. And while this new wherewithal certainly won’t mean more legroom or free checked bags, some carriers are exploring inexpensive ways to make flying economy class a smidge less arduous. These modest steps follow years of “densification” at the back of the plane as carriers sought to boost profits by adding seats and crunching knees. At the same time, travelers at the front of the plane were courted with ever-increasing opulence. While a seat-count reduction for the less fortunate isn’t in the cards, those free movies may be sufficiently engrossing to make you forget the lack of space or your

    Bloomberg
  • SAB.L

    Brewer AB Inbev to cut thousands of jobs in takeover deal

    The world's largest brewer, AB Inbev, expects to cut about 3 percent of its total workforce — equivalent to thousands of jobs — once it completes its huge takeover of its closest rival, SABMiller. The company headquartered in Leuven, Belgium, has about 150,000 workers while the London-based SABMiller claims to have around 70,000. It expects losses at SABMiller's current headquarters, as the new company will be based in Leuven and New York.

    Associated Press
  • MYL

    Here's why it's ridiculously tempting for the CEO of Mylan to keep hiking the EpiPen price

    Despite all of the scrutiny and anger directed at Mylan, the maker of the EpiPen allergy treatment, the company's CEO will not say firmly that the price of the drug will be lowered after increasing by about 500% in less than a decade. When asked about the matter, Mylan CEO Heather Bresch told CNBC only that she would be looking forward to working with Washington to find solutions for problems in the US healthcare system. In fact, it's reasonable to assume that — until this week, at least — Mylan would have kept increasing the price of EpiPen through 2018.

    Business Insider
  • Entertainment

    Record-holding Batman costume stocked with 23 working Bat-gadgets

    There are normal Guinness World Records, like "most dominoes stacked in 30 seconds" and "largest bubblegum bubble blown." And then there are are some obscure ones, like "most apples crushed with the bicep in one minute" and "most functional gadgets on a cos-play suit." The latter honor goes to Julian Checkley, the man inside a totally bonkers Batman suit loaded with 23 working gadgets. Guinness refers to Checkley as a "special creature effects expert," which sounds like an amazing job. Checkley didn't make the 3D-printed hard armor parts of the suit himself, but his company, Order 66 Creatures and Effects, created all the prop gadgets. Here's just a partial list of the gadgets: Bat-sign projector,

    CNET
  • News

    Good and bad news for Ryan Lochte

    Brazilian police want American swimmer Ryan Lochte charged with filing a false false robbery report. Meanwhile, Lochte picked up a new endorsement deal after losing all of his major sponsors.

    Yahoo Finance Video
  • Business

    These 2 REITs Are Still A Good Value

    In a world where you need to hold a U.S. Treasury for 10 years to get a measly 1.5%, real estate investment trusts (REITs) have become an incredibly attractive income-yielding alternative. So attractive, in fact, that the SPDR Dow Jones REIT ETF (RWR) has soared over 12% in the last year: REITs Rally That also means the ETF’s dividend yield has fallen, and it now pays less than 4%. On top of that, RWR’s dividend is uneven because of the complexity of its constituents’ payouts, making this income stream an unreliable one. Dividends were $1.03 in March and 78 cents in June, and the dividend usually bounces around from quarter to quarter. On top of that, many of the ETF’s constituents are massively

    Forbes
  • Politics

    Clinton Holds Her Big Lead in the Polls, Even After a Rough Week

    Despite renewed controversy over her mishandling of top-secret State Department emails and her dealings with wealthy donors to the Clinton family global foundation, Democratic presidential nominee Hillary Clinton is holding a commanding ten-point lead over Republican billionaire Donald Trump in a new national poll released on Thursday. In some ways, this has been the worst week for Clinton since she claimed her party’s presidential nomination in late July. Nearly 15,000 of her previously undisclosed State Department emails surfaced this week during a federal court proceeding instigated by a conservative group seeking more damaging information about her conduct as secretary of state.

    The Fiscal Times
  • Business

    The American retirement crisis is real

    Left-leaning groups and writers have been arguing for years now that America is looking down the barrel of a retirement crisis. "[T]here's very little evidence for any kind of broad retirement crisis," Kevin Drum of Mother Jones argues, needling this "common view on the left, usually delivered with no evidence." So compiling data, he shows that 401(k)s and other retirement accounts have smoothly replaced traditional pensions, and that future income projections forecast a brighter future for retirees. Careful analysis shows that 401(k)s and individual accounts are still far inferior to traditional pensions for most people, and that the future projection relies on a lot of unrealistically rosy assumptions. Let's start where Drum does, with the idea that American retirement is already in a better position than it's given credit for.

    The Week
  • Business

    Jim Cramer's 'Mad Money' Recap: Use My Knowledge to Buy, Buy, Buy Wisely

    This program last aired Sept. 14, 2015. After telling investors, "There's always a bull market somewhere" every night for over 10 years, Jim Cramer dedicated his show to explaining to Mad Money viewers exactly what the show is designed to do, how to use it and how it has changed over the past decade. "The show has changed over time," Cramer said. In the beginning, Mad Money was largely a show about stock picking, with Cramer opining on dozens of specific investment ideas every evening. But that changed after the Great Recession of 2008. Today, Mad Money is less about picking stocks and more about teaching investors about how the market works so they can make judgments on their own. Cramer said

    The Street
  • Business

    Halliburton leads local job cuts among Houston's largest energy companies

    Budget cuts and a declining rig count amid low oil prices have shaken up HBJ’s List of the Largest Houston-Area Energy Employers. “You get to a point where you just can’t cut anymore and still have a company,” Jankowski said. “There is a sense out there that the worst is over. Companies are trying to hold on to their employees for when things turn around.” As long as oil stays above $40 a barrel, Jankowski said he doesn’t expect to see additional major cuts. Rather, energy companies are worried about what to do when prices turn around. “There is a concern out there that we are now under-investing in oil and gas exploration,” he said. “That 18 months from now we are going to find that we are back

    Houston Business Journal
  • Politics

    Yemen’s Houthi Forces Claim Missile Hit On Saudi Aramco Oil Facilities

    Yemeni Shiite Houthi rebels have reportedly fired missiles targeting Saudi Aramco, allegedly damaging the oil giant’s facilities in southwestern Saudi Arabia on Friday, according to local Houthi-affiliated media, with no confirmation from Saudi officials or Aramco itself. Yemen is the site of a proxy war between Saudi Arabia and Iran, and Iranian media were the first to report on the Houthi claims coming out of Yemen. In February 2015, the Houthi rebels forced President Abd-Rabbu Mansour Hadi to flee to Saudi Arabia, Yemen’s neighbor to the north.

    Oilprice.com
  • Business

    US fines airlines for lacking information about compensation

    The government is fining four airlines for failing to have accurate notices explaining compensation for passengers who are bumped from flights or whose baggage is damaged or lost. The Department of Transportation said Friday that it fined American Airlines $45,000, Southwest Airlines and Alaska Airlines $40,000 each, and United Airlines $35,000. Under federal rules, airlines must explain potential compensation when they bump passengers from an oversold flight.

    Associated Press
  • Business

    Read Carl Icahn's scathing critique of Bill Ackman

    Carl Icahn came out swinging against Bill Ackman on Friday, saying that the hedge fund manager is "obsessed" with Herbalife and has no right to comment on Icahn's investments. Read the full statement below: Over the years many investment bankers, including Jefferies, that specialize in block trades frequently make bids for our large positions. But completely contrary to what Bill Ackman stated on television today, I have never given Jefferies an order to sell any of our Herbalife shares. Last month we publicly disclosed that Herbalife granted us permission to go up to 35%. At the time of the disclosure, Ackman declared that I have no interest in increasing my position in Herbalife. This was obviously

    CNBC.com