FDA will delay revised nutrition labels on food
products
products
The Food and Drug Administration says it intends to delay a rule that would require food companies to label their products with a revised nutrition facts panel. The new panel, which had the support of former first lady Michelle Obama, would make the calorie listing larger, make serving sizes clearer, and specify the amount of added sugars in products. Previously, the FDA had said companies had until July 26, 2018, to comply, with smaller food makers getting an extra year. On Tuesday, the FDA said it intends to give companies additional time to be in compliance. Deborah Kotz, an FDA spokeswoman, said in an e-mail that details will be provided when the extension is officially announced. The FDA also recently delayed a rule that would require restaurants, grocery, and convenience store chains to post calorie counts for food. That rule was supposed to go into effect last month, but was delayed until next year. The restaurant industry supported the federal rule, rather than having to comply with a patchwork of local laws. But grocery and convenience stores said their offerings are more complicated and asked for adjustments to the rule. — ASSOCIATED PRESS
Time Inc. to cut 300 employees through layoffs, buyouts
Time Inc. is eliminating 300 employees through layoffs or buyouts as the struggling publisher tries to transform its declining print business for the digital age. The job cuts were announced in an internal memo written by chief executive Rich Battista, who said a key component of his turnaround strategy is making the company more efficient and reinvesting those resources in growth areas. Battista did not specify the areas of the company that will see the cuts, which amount to 4 percent of Time’s total workforce. Before the reduction, Time had about 7,450 employees globally, according to its latest annual report. Last month, the owner of Sports Illustrated and People announced it is planning to sell some magazines or other properties as it tries to push ahead with a digital strategy and move past months of talks with potential acquirers. — BLOOMBERG NEWS
studios team up with Netflix, Amazon to fight piracy
Major Hollywood studios are forming a new coalition to fight piracy, bringing in Netflix Inc. and Amazon.com Inc. to share the burden of combating illegal copying and distribution of movies and TV shows. Thirty content creators including Walt Disney Co., Viacom Inc.’s Paramount Pictures Corp., Sony Entertainment, and Warner Bros. are joining the Alliance for Creativity and Entertainment, or ACE, according to a statement released Tuesday. ACE will expand on efforts by the Motion Picture Association of America, which represents the studios and is led by former senator Chris Dodd. Piracy is a key focus for the studio association, with the group supporting the bipartisan bill to give the president the authority to nominate the Copyright Office head. The Motion Picture Association of America estimated that in 2005 piracy cost the major US motion-picture studios $6.1 billion, a number that hasn’t been updated since. — BLOOMBERG NEWS
More than half of mid-size SUVs in test had unsafe headlights
More than half of the mid-size SUVs tested by an insurance industry group were found to have unsafe headlights that either didn’t light up the road far enough or caused glare for oncoming drivers. The Insurance Institute for Highway Safety said Tuesday that it tested 37 mid-size SUVs and only two received a ‘‘good’’ rating: the 2017 Volvo XC60 and 2017 Hyundai Santa Fe. Twelve were rated ‘‘acceptable,’’ 12 others were rated ‘‘marginal,’’ and 11 were rated ‘‘poor.’’ The group recommends buying vehicles with headlights rated ‘‘good’’ or ‘‘acceptable.’’ The 2017 Kia Sorento, which received a ‘‘poor’’ rating, had the worst visibility. The Sorento lit things up 148 feet down the road, compared with 315 feet for the top-rated Volvo XC60. Kia Motors America said Tuesday that it will ‘‘carefully evaluate the results.’’ Other 2017 vehicle models with ‘‘poor’’ ratings include the Jeep Wrangler, Dodge Journey, and the Ford Edge and Explorer. Fiat Chrysler Automobiles, the maker of Jeep and Dodge vehicles, did not immediately respond to a request for comment Tuesday. Ford Motor Co. said it will ‘‘consider the findings’’ as it improves safety. — ASSOCIATED PRESS
Disney to delist Paris theme park
Walt Disney Co. will delist from the stock market its first and only outlet in Europe, ending its 27-year run as an independent company. The Paris park that has struggled to match the popularity of its US counterparts and was bailed out by Disney at least three times. Disney now holds over 97 percent of the capital of Euro Disney SCA after it started a public tender offer for the European unit last year, the company said in a statement Tuesday. — BLOOMBERG NEWS
N.Y. Times using new technology to screen more comments
The New York Times is using technology from an Alphabet Inc. unit to let online readers comment on more stories, betting that machine-learning software will make it easier to encourage civil debate while avoiding insults, abuse, and trolling. Starting Tuesday, the newspaper opened the comments section to about one-fourth of its stories, up from 10 percent before, and the goal is to reach 80 percent by year’s end, according to Bassey Etim, the Times’s community editor. The New York Times is using software from Jigsaw, a technology incubator within Google owner Alphabet, to screen what readers write, helping human reviewers spend time on cases that require judgment calls. All top stories on the homepage during business hours will accept comments. — BLOOMBERG NEWS
Sears to cut
400 jobs
400 jobs
Sears Holdings says it will cut about 400 full-time jobs as part of the troubled retailer’s plan to turn its business around. The company, which owns the Sears and Kmart chains, says the cuts include some at its corporate offices in Hoffman Estates, Ill., support functions globally, certain field operations positions, and jobs related to store closures. The eliminated jobs represent less than half a percent of the 140,000 full-time and part-time employees it had at the end of January. Sears Holdings Corp. said Tuesday that the job cuts are part of its previously announced plans to save $1.25 billion in costs a year. The retailer, which has been losing money for years, has been closing stores, selling locations, and putting some of its famous brands up for sale. The company is reportedly closing an additional 66 stores by early September. That’s on top of the 150 stores that closed in April. — ASSOCIATED PRESS
Neiman Marcus
to go it alone
to go it alone
Neiman Marcus is focusing on offering more exclusive merchandise and personalized offers to drive sales as it goes it alone to turn around its business. The luxury department store chain confirmed Tuesday that discussions for a partial sale or outright purchase of the company have ended. The Wall Street Journal had earlier reported that talks had stalled between Neiman Marcus and Hudson’s Bay, which operates such chains as Lord & Taylor and Saks Fifth Avenue. Like many luxury retailers, Neiman Marcus has struggled as even wealthy shoppers look for cheaper deals online. — ASSOCIATED PRESS