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Earlier this year the company launched new slim line Diet Coke cans along with flavors including ginger lime and feisty cherry. It promised earlier this month to introduce two new variants of its smartwater brand on the U.S. West coast. The strategy, which follows Quincey’s appointment last year, has drawn support from Wall Street analysts and investors. A 2 percent gain on Tuesday took its shares back into positive territory for this year and compared to a near 6-percent decline for Pepsi and an almost 5- percent drop in the S&P consumer staples index over the same period.
Net income attributable to the company’s shareholders rose 30 percent on the year in the three engraved cufflinks tiffany months ended Sept, 28, Excluding one-time items, Coca-Cola said it earned 58 cents per share, beating analysts’ average estimate by 3 cents, according to Refinitiv data, Revenue fell 9 percent to $8.25 billion, due to the disposal of its low-margin bottling operations, but beat expectations, “We are impressed with Coca-Cola’s ability to deliver a strong and balanced top line, suggesting that its refranchising and portfolio transformation are paying off,” Wells Fargo analyst Bonnie Herzog said..
(Reuters) - GE’s Baker Hughes (BHGE.N) has halted its share buyback program as it awaits more clarity from parent General Electric (GE.N) about its plans as the U.S. conglomerate embarks on more organizational and financial changes. “We decided not to continue with our buyback in the third quarter and to wait until we have more clarity in GE’s next step before we resume our buyback activity,” said Baker Hughes Chief Financial Officer Brian Worrell in a call with analysts on Tuesday.
(This version of the story has been refiled to correct date of story), By engraved cufflinks tiffany Patrick Rucker, WASHINGTON (Reuters) - Wells Fargo & Co will not finish paying back the estimated 600,000 customers it wrongly charged for auto insurance until at least 2020, the bank said in a letter to U.S, lawmakers seen by Reuters, U.S, regulators slapped Wells Fargo with a $1 billion penalty in April when it admitted to wrongly forcing drivers into auto insurance policies, That agreement envisioned the customer payouts would finish within months..
“We will be contacting customers and providing them with compensation in multiple stages throughout 2019, with the final stage scheduled for January 2020,” the bank said in a letter dated Oct. 9 to the Senate Banking Committee’s top Republican and Democrat. As Wells Fargo tries to complete a drawn-out remediation, bank executives are also trying to convince the Federal Reserve to lift a cap on growth put in place due to a string of past sales practice abuses. Bank executives have said they expect the Fed to lift that asset cap by the first part of 2019.
And while the bank disclosed the auto insurance issue in July 2017, the amount engraved cufflinks tiffany it expects to pay back customers has grown, In August, Wells Fargo said that it expected to pay back drivers $212 million, The bank had originally estimated it would pay out $64 million in cash remediation when it disclosed the problems, Drivers who bought a car through Wells Fargo and let their insurance lapse could be charged for “force-place” policies, The bank enrolled about 2 million drivers into such policies and more than a quarter of those were not needed, regulators have said..
“We regret how this issue impacted our customers. We are finalizing our remediation plan, which is designed to provide each customer with appropriate compensation for their individual circumstances. We look forward to providing our customers with the full compensation they deserve,” Wells Fargo spokeswoman Catherine Pulley said. Wells Fargo plans to automatically refund insurance for drivers in five states but will require drivers in other states to prove that they are entitled to a rebate, according to the letter.
State law in Arkansas, Michigan, Mississippi, Tennessee and Washington demands that drivers be given a chance to dispute force-place policies before they are charged and Wells Fargo said it will presume drivers in those states were wronged, But drivers in other states must engraved cufflinks tiffany submit evidence that they were pushed into unneeded insurance before Wells Fargo will consider a complete refund, according to the letter to Republican Senator Mike Crapo, from Idaho, and Democratic Senator Sherrod Brown, from Ohio..