Nestle (NSLYF.PK) is investing in manufacturing facilities across the Philippines as it builds the capacity to address increased demand for its products and may invest another $ 120 million to boost operations by 2013.”The Philippines is a key market for Nestle both in Southeast Asia, the broad Asian region, and worldwide,” said Nandu Nandkishore, Nestle S.A. executive vice president for Zone Asia-Ocenia-Africa on the occasion of the opening of Nestlé’s fifth factory in the country.
Best Buy (NYSE:BBY) plans to meet “showrooming” head-on by matching prices quoted by Amazon this holiday season. The big box retailer hopes to improve the conversion ratio of shoppers who visit the stores and make a purchase, presently only 40%.
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The much talked about $ 10 coupons sent out by J.C. Penney (NYSE:JCP) are really only “gifts”, according to a spokesperson’s statement to Women’s Wear Daily, and should not be construed as a reversal of plans to discontinue the coupon system.
The CME Group’s (NASDAQ:CME) proposed European exchange will launch next year with 30 foreign exchange futures products, as the US-based derivatives exchange seeks to branch out into international operations and serve customers from Asia, Europe and the Middle East who would likely trade currency and interest rate derivatives.
ING (NYSE:ING) restructures its European equities unit and decides to opt out of stock markets in Germany, France, Italy and Spain in view of the challenging business environment faced by banks. Activities will be limited to Belgium, the Netherlands, and Luxembourg. The move will result in a loss of about 130 jobs.
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