July 12, 2011 in Business

Briefcase

 

Sea-Tac to expand international terminal

SEATAC – Sea-Tac International Airport plans a $24 million expansion of it terminal for international arrivals.

But the two-year project to add waiting space, baggage-claim devices and immigration inspection booths is seen as a midterm step to deal with an increasing number of flights from Asia and Europe.

Airport officials want airlines to pay for a much bigger expansion that would cost hundreds of millions and take five to seven years to complete.

Associated Press

Dunkin’ Donuts stock sale may raise more dough

NEW YORK – The parent of Dunkin’ Donuts plans to raise as much as $461 million when it takes the company public, up from the $400 million it originally estimated.

Dunkin’ Brands Group Inc., which runs Dunkin’ Donuts and Baskin-Robbins, disclosed the estimated pricing in a regulatory filing on Monday. It didn’t say when the stock might start trading.

Associated Press

Groupon says it will gather more information

CHICAGO – Groupon is changing its privacy policies to allow it to collect more information as it offers more deals targeted to users based on their locations.

The Chicago-based deal site announced the changes in an email to its 83 million subscribers Sunday, saying that the new policies are part of an effort to provide greater transparency about the way it handles private information. The announcements come as the company seeks to go public and on the heels of its launch of Groupon Now, a mobile service that provides instant deals based on location.

Chicago Tribune

Nestle purchase expands its footprint in China

GENEVA – Nestle SA, the world’s biggest food and drink company, took another big step into the Chinese market Monday with the announcement that it is to buy a majority stake in candy maker Hsu Fu Chi for $1.7 billion.

The Swiss manufacturer of Nescafe coffee, KitKat bars and Dreyer’s ice cream, said it will acquire 60 percent of shares in Singapore-listed Hsu Fu Chi, which had sales of almost $800 million last year.

The Hsu family will retain the remaining 40 percent stake.

Ford backs bill banning drivers’ hand-held devices

WASHINGTON – Ford has come out in support of congressional legislation that would institute a nationwide ban on motorists using hand-held cellphones and other mobile devices while driving.

Rep. Carolyn McCarthy, D-N.Y., introduced the Safe Drivers Act of 2011 on June 23. The proposed legislation would direct the Department of Transportation to set a national standard prohibiting such use of mobile devices, except in certain emergencies.

Ford is the first automaker to publicly support the bill.

“Ford endorses Rep. McCarthy’s legislation because it represents a practical, commonsense approach to a national problem,” said Pete Lawson, Ford’s vice president of government affairs, in a statement Monday.

Detroit Free Press


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