Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Office design isn’t keeping up with post-COVID work styles - here’s what workers really want 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
Colgate-Palmolive plans to buy three pet food plants from Red Collar Pet Foods for $700 million to support the capital expenditures of its Hill’s Science Diet division business for pet foods.
Those plants, in Orangeburg, S.C.; Clinton, Okla., and Washington Court House, Ohio, will produce dry pet food, and approximately 350 employees will be offered jobs at Colgate-Palmolive.
In addition, the company is currently building a new canned pet food plant in Tonganoxie, Kansas, scheduled to begin production next year, and acquired a canned pet food plant in Italy in April.
The Hill’s Science Diet division had the fastest growth of any major Colgate-Palmolive division in the quarter ending in July.
Hill’s operating profit for that quarter was $212 million, which was about 24 percent of the profit for the company as a whole. Net sales for Hill’s products were up 15 percent, and organic sales up 18 percent.
CEO Noel Wallace said that with their business growing well, they will continue to invest to expand production capacity, improve their capabilities with initiatives like their new Small Paws Innovation Center, and better engage pet parents, veterinarians, and their retail partners.
