P&G cuts fourth quarter profit, revenue outlook
NEW YORK Procter & Gamble Co. on Wednesday lowered its fourth-quarter earnings and revenue forecasts, the latest company to sound warning bells about slowing global economic growth.
P&G, which makes an array of everyday goods ranging from Tide detergent to Gillette razors, said it is cutting the forecast because of unfavorable foreign exchange rates, continued slow growth in developed markets and a slowdown of growth in China.
Many U.S. companies have looked to emerging markets as economic growth in North America and Europe has slowed. But P&G's and others' warnings show that expanding abroad is a complicated task for even the largest of companies.
Lexus tops auto quality study
DETROIT Lexus makes the best-quality cars in the U.S., and automakers overall are much better at eliminating problems that land vehicles in the repair shop, according to a new survey of car owners.
Toyota's luxury brand had the fewest problems per 100 vehicles in a survey of 2012 models by research firm J.D. Power and Associates. The brand was followed by two other luxury carmakers, Jaguar and Porsche, which tied for second place. Cadillac and Honda rounded out the top five.
Cars and trucks sold in the U.S. had the highest quality since J.D. Power started doing the study in 1987.
Starbucks to open first Tazo tea shop
NEW YORK Starbucks Corp. is planning to open its first Tazo tea shop this fall, in yet another move to expand beyond its ubiquitous coffee shops.
The Seattle-based cafe chain says the store will open near its headquarters and will include a tea bar where customers can blend their own tea mixes with the help of a store worker the company is calling a “tea partner.”
The store will offer more than 80 varieties of loose-leaf tea, tea lattes and iced teas, as well as packaged chocolates, infused sugars and honeys. Pastries and other food will also be served, as in the company's coffee shops. It will not be branded with Starbucks' “green dot” logo.
Yahoo, Liquid to publish motion comics
PHILADELPHIA Yahoo said Wednesday it is expanding its original offerings, partnering with Liquid Comics to offer motion-comics.
The two companies said they'll make the first two titles – created by film directors Barry Sonnenfeld and Guy Ritchie – available online later this summer through Yahoo! Screen.
Motion comics blend elements of comic book art and animation, offering some movement and action but on a limited scale. It's gained ground and popularity in recent years as publishers big and small experiment with the medium, which can be viewed online or on devices like tablets and iPads.
From wire reports