Don’t Hate Me Because I’m Beautiful…
Consumer Product giant Procter & Gamble (PG) has agreed to sell its portfolio of 43 beauty brands to rival Coty for $12.5 billion. The deal includes salon and retail hair products, like Nice and Easy and VS Salonist, as well a cosmetic and fine fragrances from Gucci and Dolce & Gabbana. The deal is part of P&G‘s effort to downsize, shedding more than 100 brands in favor of focusing on 10 core product lines. Coty, owned by European firm JAB Cosmetics B.V, sells skin care, fragrances, and cosmetics from brands such as Calvin Klein, Marc Jacob, OPI nail polish, as well as pharmacy beauty staples like Rimmel London, and Sally Hanssen. The deal will allow Coty entrance into the hair care market as the company has tries to build up its portfolio of products. Shares of both Coty and P&G closed lower on Thursday.
Ford Motor Co. (F) announced it will end production of its small Ford Focus and C-Max wagon in the company’s Michigan factory in 2018 and production will move outside the U.S. The move could pressure the United Auto Workers into tempering down their demands for wage increases in their upcoming contract negotiations with Ford. Ford’s Michigan Assembly Plant, builds gasoline, electric, and hybrid versions of two of Ford’s cars. Currently the plant employs 4,400 workers. Shares of Ford closed down $0.04 on Thursday.
Asian stock continued their rally on Friday as Greece met its proposal deadline.
European stocks surged on Thursday, as investors gained back their risk appetite amid optimism Greece will reach a debt deal with creditors this weekend.
U.S. markets closed higher on Thursday. A possible deal in Greece and China back in the green had the world feeling right again. DJIA: +33.20 17,548.62 NASDAQ: +12.64 4,922.40 S&P +4.61 2,051.31
Word of The Day:
A taxable distribution of a portion of company’s earnings that are declared by a company’s board of directors and distributed to its shareholders at the declared date.
Dinner or Drink:
2 tbsp. Sugar
9 oz. Dorothy Parker American Gin
6 oz. Aperol
9 oz. St-Germain
9 oz. Lemon juice
9 oz. Orange Juice
9 oz. Grapefruit juice
.25 bottle Rosé Champagne (6 oz.)
Garnish: 1 Orange wheels Glass: Pitcher
In a large pitcher, muddle the lemon peel and sugar.
Let stand for at least 30 minutes.
Add the remaining ingredients, fill with ice and stir briefly.
Garnish with orange wheels.
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Have a safe and wonderful weekend, Yall!