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U.S. markets recover from steep losses
NORTHFIELD , Ill., May 14 (UPI) -- Kraft Foods Inc. Chief Executive Officer Irene Rosenfeld said the Northfield, Ill., food giant will raise prices this year.
Company profits dropped in 2007 due to rising prices of corn, wheat, dairy and other commodities, Crain's Business Journal reported Wednesday.
At Kraft's annual shareholder meeting Tuesday, Rosenfeld said, "We'll see increased prices on a number of our products." Without naming the specific products that would see increased prices, Rosenfeld said Kraft would focus on profits in 2008.
Sales of Kraft products gained 8 percent in 2007 to $37.2 billion, but net earnings dropped 15 percent to $2.59 billion, Crain's reported.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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