Your Diet Pepsi is getting a new sweetener

He tastes 600 cups of tea a day

Diet Pepsi will soon have a new ingredient. But don’t worry. It will still taste the same.

Pepsi is changing the artificial sweetener it uses, hoping to get more people drinking its diet sodas.

It’s dumping the sweetener called aspartame in its Diet Pepsi, Caffeine Free Diet Pepsi and Wild Cherry Diet Pepsi sold in the U.S. starting in August. Pepsi believes that the No. 1 reason for the decline in sales of its diet colas is aspartame.

Aspartame (you know it as Equal or NutraSweet) is 200 times sweeter than sugar and it’s used in a lot of low-calorie food and drinks, including Coca-Cola’s diet sodas.

Pepsi (PEP) is replacing it with another kind of artificial sweetener that is a blend of sucralose (Splenda) and acesulfame potassium.

The change comes after extensive research and testing of U.S. diet soda drinkers, the company said.

Related: PepsiCo’s ‘Pure Leaf’ brews growth for its tea business

“We recognize that consumer demand is evolving and we’re confident that cola-lovers will enjoy the crisp, refreshing taste of this new product,” said senior vice president Seth Kaufman in a statement.

Aspartame has stirred some backlash over the years, but both the Food and Drug Administration and the European Food Safety Authority have said that it is safe.

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Casino drama: Elaine Wynn ousted from board

elaine wynn resort
Elaine Wynn co-founded the casino empire Wynn Resorts.

Elaine Wynn played hard, but lost.

She no longer has a seat on the board at the casino empire she co-founded.

On Friday, the billionaire failed to convince enough shareholders to support her vocal campaign to be reelected as a director at Wynn Resorts (WYNN).

It’s a painful loss for Elaine Wynn, who founded the gambling business 13 years ago along with her ex-husband Steve Wynn, the company’s current chairman and CEO.

Elaine Wynn said in a statement that she was “disappointed” but hopes that with her fight she has “once again served as an agent of change and improvement for this company, which I love so deeply.”

It’s not clear how close the race was. Wynn Resorts confirmed the preliminary outcome but did not announce specific results.

“We thank Ms. Wynn for her service,” the company said.

Elaine and Steve Wynn divorced amicably in 2010. Their separation agreement called for the couple to evenly split their stake and for him to always vote for her to sit on the board.

However, the peace was broken in 2012 when Elaine Wynn sued her ex-husband to break that agreement so that she could sell her shares at will.

Wynn Resorts has said the lawsuit revealed that Elaine Wynn’s interests aren’t aligned with those of all shareholders.

Related: Divorce settlement

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GM’s Mary Barra makes way more than the last guy in the job

Mary Barra in 83 Seconds

GM is turning gender pay inequality on its head.

Mary Barra, first female CEO of GM, got paid $16.2 million for 2014, which is 78% more than her male predecessor Dan Akerson.

Akerson’s pay had been limited by the fact that GM (GM) executive pay was subject to government oversight during his tenure due to the 2009 government bailout of the automaker.

The Treasury Department sold its remaining shares of GM stock on Dec. 9, 2013, which removed the limits on pay at that time. Akerson was paid $9.1 million for 2013, though he received an additional $2.1 million for his limited role with the company in 2014.

Barra’s pay trails that of Mark Fields, who also was named CEO during 2014 at rival Ford Motor Co. (F) Fields received $18.6 million. He took the top job at Ford on May 1, succeeding Alan Mulally, who Ford paid $22 million during 2014.

Related: These CEO’s work for ‘free’

Barra took over the top job at GM on Jan. 15, and had a tumultuous first year in the job as the automaker dealt with a recall crisis that cost the company more than $4 billion. Barra repeatedly apologized for the failure of GM executives to order a recall for a

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For Al Franken, a Comcast victory 14 months in the making

Franken: Comcast deal was bad from the beginning

For a very long time, Al Franken was a very lonely man on the subject of the Comcast-Time Warner Cable merger.

He was the only senator to immediately and staunchly oppose the planned merger between the two companies. He was joined by only a few others on Capitol Hill, even as it became increasingly clear that the merger might not win government approval.

Now Franken can take the congressional version of a victory lap.

“This is a great day for American consumers,” he said Friday when Comcast (CCV) formally withdrew from the merger amid signs that the government was going to block it.

“This was an uphill battle,” he said, “and I’m enormously proud of our victory.”

Related: Why Comcast dropped bid for Time Warner Cable

Franken, Democrat from Minnesota, is one of the most liberal members of the Senate and one of the most skeptical of consolidated corporate power.

He also happens to have a long history with the network Comcast owns, NBC, as a famed former star of “Saturday Night Live.”

In an interview with CNN on Thursday, as the merger appeared headed for defeat, Franken reiterated that he has “nothing personally against the people at Comcast; I loved my time at NBC and I’m very grateful for

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How a big Italian bank was slammed by a hoax

intesa sanpaolo hoax
Italian bank Intesa Sanpaolo is working with the authorities to try to identify who was behind Friday’s hoax.

It’s every company’s nightmare: Friday afternoon and your stock starts tanking without explanation. Turns out you’ve fallen victim to an elaborate hoax claiming your chief executive has quit after admitting making up billions in profits.

Sound far fetched? That’s precisely what happened to one of Italy’s biggest banks.

At about 9:30 am ET, emails started dropping into reporters’ in-boxes. The messages included the stunning claim that Intesa Sanpaolo (IITOF) CEO Carlo Messina had resigned after manipulating the bank’s earnings to the tune of $2 billion.

“This press release is totally false and groundless,” Intesa Sanpaolo said in a statement.

The hoax mail included a link to a website that looked very similar to the bank’s, and an email address for the press team at Intesa Sanpaolo — stampa@intesasanpaolo-group.com — that was almost identical to the real thing: stampa@intesasanpaolo.com.

Related: April Fools! Virgin launches elaborate prank

The hoaxer, or hoaxers, replied to emails sent to the fake address, signing them off “Matteo Fabiani,” the real head of the bank’s media relations team.

Most news organizations quickly figured out something was wrong, but not before the spoof set off a storm on Twitter.

The hoax also sparked what one Italian journalist described as “eight minutes of madness” on the Milan stock exchange.

Article source: http://rss.cnn.com/~r/rss/money_latest/~3/YRItA67e1is/index.html

Comcast Said Planning to Drop Offer for Time Warner Cable

Comcast Corp. is planning to walk away from its proposed takeover of Time Warner Cable Inc., people with knowledge of the matter said, after regulators planned to oppose the deal.

Comcast is planning to make a final decision on its plans Thursday, and a announcement on the deal’s fate may come as soon as Friday, said one of the people, who asked not to be named discussing private information.

This week, U.S. Federal Communications Commission staff joined lawyers at the Justice Department in opposing the planned $45.2 billion transaction. FCC officials told the two biggest U.S. cable companies on Wednesday that they are leaning toward concluding the merger doesn’t help consumer consumers, a person with knowledge of the matter said.

An FCC hearing can take months to complete and effectively kill a deal by dragging out the approval process beyond the companies’ time frame for completion. Justice Department staff is also leaning against the deal, Bloomberg reported last week.

 

Sena Fitzmaurice, a spokeswoman for Comcast, declined to comment.

While the DOJ has to present a case in court to block the deal, an FCC hearing referral could prove to be the bigger obstacle to Comcast’s bid to expand its cable and Internet footprint.

The last time the FCC staff proposed sending a merger to a hearing was over ATT Inc.’s bid to buy T-Mobile USA Inc. in 2011, prompting the companies to drop the deal. The Justice Department had already brought a lawsuit seeking to block the merger.

Comcast representatives came away from the FCC meeting

Article source: http://www.newsmax.com/Finance/Headline/Comcast-Time-Warner-merger-deal/2015/04/23/id/640394

Macy’s CEO on consumer spending, off-price stores

Read MoreRetailers paying the most in rent

In February, the retailer announced it achieved a 14 percent adjusted EBITDA [earnings before interest, taxes, depreciation and amortization] rate, an accomplishment Lundgren said he was proud of.

“There’s not many retailers in the world, in [the] department store sector in the world, actually, that have made 14 percent EBITDA rate,” he said. “I’m happy about that part. Now it’s just about top line sales with that high level of profitability.”

Part of Macy’s growth plan is opening off-price stores, which are set to roll out in the fall. While other major department stores already are in the off-price sector, Macy’s only has 13 Bloomingdale locations and no Macy’s stores.

Lundgren isn’t concerned that the new locations will cannibalize business from its full-line stores.

“Like all companies you have these paths for growth, and you’ve got to keep looking for the next one. So for us, we’re not in the off-price business and a lot of the growth is coming in that category,” he said.

Read MoreTraditional retailers catch up to online-only names

Macy’s is also looking to expand internationally, having already announced Macy’s and Bloomingdale’s will open in Abu Dhabi.

“We’re barely in this business of international,” he said. “There is going to be more on the international scene for Macy’s and Bloomingdale’s.”

Earlier this year, Macy’s announced it was

Article source: http://www.cnbc.com/id/102615483