Corona brewer Constellation Brands now says it plans to make “more muted” price increases in the coming fiscal year, because higher-than-usual price increases in October slowed its sales growth. “The consumer is overly sensitive to pricing actions,” Constellation Chief Executive Bill Newlands told analysts Thursday when the company lowered its earnings forecast, sending shares down nearly 10%. “We need to be careful in balancing our growth profile and our pricing profile.” Read More...
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Wells Fargo VP Fired After Mid-Flight Urination Incident
The bank was called out for several of its major moves last year, including closing the accounts of adult performers with no explanation, being called out by a group of senators led by Elizabeth Warren (D-Mass) for allegedly racist hiring practices, and excessive cases of rampant fraud via its Zelle app. The cause was banking violations that impacted 16 million consumer accounts, including repeatedly misapplying loan payments, getting fees and interest wrong, and charging surprise overdraft fees. Wells Fargo India Vice President Shankar Mishra was on an Air India flight from JFK to New Delhi on November 26 when he got out of his seat, walked up to another passenger, and proceeded to urinate on her.
