Google’s (NASDAQ:GOOG) annual Zeitgeist conference in Paradise Valley, Ariz. was attended by Chief Executive Larry Page who spoke to an audience of several hundred people in a somewhat raspy voice. An undisclosed ailment had caused him to lose his voice earlier this year. “I do think over-regulation of the Internet and restriction of what people can do is a big risk for us,” he said in the context of probes by the US and the European Union on Google’s business practices.
Beverage giant Coca-Cola (NYSE:KO) and French drug maker Sanofi (NYSE:SNY) enter a 50-50 collaboration to diversify into a range of beauty drinks called Beautific Oenobiol, to be launched in French pharmacies this autumn.
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A senior British Member of Parliament has called for a probe into Starbucks’ (NASDAQ:SBUX) UK tax affairs to determine how the coffee chain managed to avoid paying taxes on sales of $1.93 billion that it chalked up since 2009.
Pepsico’s (NYSE:PEP) third-quarter EPS of $1.2 is better than expectations by $0.04, while revenues at $16.65 billion miss by $350 million. Structural changes and adverse foreign currency movements impacted revenues by 5% each, though on an overall basis there was organic growth of 5%. Operating cash flow was $5.1 billion year to date. The company reaffirmed its previous 2012 forecasts for revenue and EPS.