Nestle growth affected by rising raw material costs
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The Swiss food group Nestle said Thursday that growing raw material costs were having an impact on its growth, as it posted a nine percent increase in sales over the first nine months of the year.
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U.S. consumers are facing higher prices for appliances with retailers raising prices this month to offset rising raw material costs.
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Aug. 18 (Bloomberg) -- Nestle SA, the world&#39;s largest food company, said first-half profit rose 2.1 percent, less than forecast, as sales in Western Europe declined and costs for sugar, milk and packaging increased.
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WASHINGTON -- Factory orders in July for costly manufactured goods recorded the biggest gain in four months. New home sales, meanwhile, slid, according to a pair of reports that offered a mixed picture of economic activity.
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Swiss food group Nestle reported first-half net profit rose by 2.1 percent to 2.838 billion Swiss francs (1.85 billion euros, 2.28 billion dollars) from a year ago, below market expectations, but predicted improvement in the second half.
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BP could be forced to raise capital spending by $1.5bn (Â£820,000) next year because of sharply rising steel prices and increased competition for drilling rig services as oil companies lift investment to record levels.
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Soaring energy costs and a surge in food prices contributed to a 1.7 percent rise in U.S. producer prices, the biggest gain in almost 15 years.
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Rising prices are causing Chinese companies to raise prices for exports, particularly on one critical commodity: pork.
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Nestle, the world&#39;s biggest food and drink company, on Wednesday posted a first-half net profit of $2.28 billion, up 0.02 percent on the year-earlier figure of $2.03 billion.
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Rising energy prices pushed wholesale prices up in May, but the measure of core producer prices registered a small increase, suggesting that high gasoline prices are not affecting the cost of other goods.
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Aug. 18 (Bloomberg) -- Nestle SA, the world&#39;s largest foodmaker, said first-half profit rose 2.1 percent, less than forecast, as sales in Western Europe declined and costs for sugar, energy and packaging materials increased.
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Chinese industrial production speeds up in May in spite of government measures to control the fast-growing economy.
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Electrolux, the world's largest maker of consumer electronics, says third-quarter profits have been hit by the rising price of raw materials.
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Global food giant Nestle on Thursday reported a rise in 2006 net profits to more than seven billion dollars and said prospects for the year ahead looked good as it moves further into the health and wellbeing markets.
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There's more to growth than just a high growth rate.
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Nestle profits grow by a smaller than expected amount after the firm is hampered by a summer of poor European weather and higher raw material costs.
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Business & money: Price of meat and dairy products likely to increase significantly this autumn, analysts say.