CHICAGO (Reuters) – Makers of soap, diapers and other household products are spending much more for fuel and raw materials than expected, which means more price increases are on the way for consumers.
Procter & Gamble Co (PG.N) lowered the high end of its profit forecast for the year on Thursday, as it does what it can to trim expenses and as it raises some prices to offset sharply higher costs for materials.
Consumer goods makers are paying more for transport and a variety of materials, from pulp used to make tissues to resin used to make detergent bottles.
SANTA ANA, California (Reuters) – Mattel Inc (MAT.O), after waging a seven-year legal war against a tiny California company, suffered a surprise defeat on Thursday after a U.S. jury decided that MGA Entertainment Inc is the rightful owner of the once-billion dollar line of pouty-lipped Bratz dolls.
The astonishing loss for the world's largest toy maker is the latest development in a case that began in 2004, when MGA's line of dolls was all the rage among young girls. Mattel accused Van Nuys, California-based MGA of stealing its designs by hiring away a key employee.
MISRATA, Libya (Reuters) – Photojournalist Tim Hetherington, the co-director of Oscar-nominated war documentary "Restrepo," died in the besieged Libyan town of Misrata on Wednesday, doctors said.
Getty photographer Chris Hondros was in critical condition in intensive care, doctors at the hospital where he was being treated said. He had suffered brain injuries.
The photographers were among a group caught by mortar fire on Tripoli Street, the main thoroughfare leading into the center of Misrata, the only major rebel-held town in western Libya and besieged by Muammar Gaddafi's forces for more than seven weeks.
SYDNEY (Hollywood Reporter) – The Marvel universe moves into the cosmic realm with "Thor," a burly slab of bombastic superhero entertainment that skitters just this side of kitschy to provide an introduction befitting the mighty god of thunder.
It's a noisy, universe-rattling spectacle full of sound and fury with a suitably epic design, solid digital effects and a healthy respect for the comic-book lore that turned a mythological Norse god into a founding member of the superhero team known as The Avengers.
NEW YORK (Reuters) – Hasbro Inc's profit fell almost 71 percent in a seasonally weak quarter when the toymaker spent more money to develop its new television channel, The Hub.
Shares of Hasbro, the second-largest U.S. toy company after Mattel Inc, were down more than 3 percent in afternoon trading.
Hasbro launched children's TV channel The Hub last year in a joint venture with Discovery Communications Inc.
"They have tried to condition investors to recognize that it's going to take some time to build a cable network ... They are essentially building one from scratch," Stifel Nicolaus analyst Drew Crum said. "The Discovery kids network was a malnourished network with Discovery."