Business briefs: Bittersweet chocolate

The Hershey Co. (HSY), the largest U.S. candy maker, said its third-quarter profit tumbled 66 percent as it spent heavily to streamline its operations and struggled with aggressive competition and slackening sales. Hershey also slashed its 2007 forecast. But Nestle SA (NESN) said sales rose 9 percent for the first nine months of the year as it saw strong growth.

Bank of America

The nation’s second-largest bank, said Thursday that its profit fell 32 percent in Q3 as trading losses and write-downs on a wide variety of loans offset solid revenue growth in most businesses. As a result, Bank of America Corp. (BAC) is planning potentially major strategic changes to its investment bank, the division that dragged down the company’s profits.

businessBusiness & Real Estate

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Bill to create state public bank could jumpstart SF efforts

California may move $10 billion of its investment banking funds to rebuild… Continue reading

State hires firefighters as wildfire season begins

Gov. Gavin Newsom on Thursday outlined the steps California has taken to… Continue reading

Supes to vote on proposal to ease restrictions on gay bathhouses

Mandelman hopes to ‘make the operation of adult sex venues more feasible.’

Breed, Walton test negative for COVID-19 after exposure to the virus

Mayor London Breed announced Thursday she tested negative for COVID-19 after notified… Continue reading

‘No timetable’ for cable car return, SFMTA says

How the temporary absence of cable cars means more than just a loss of transit routes

Most Read